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If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board

By: Terence Creamer     23rd June 2017 Public Enterprises Minister Lynne Brown has called on the new interim leadership of embattled power utility Eskom to give priority attention to addressing the management of contracts, conflicts of interest and the quality of coal being supplied to its power stations. Speaking following the Eskom... 

If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board
Photo by Duane Daws
Zethembe Khoza, Lynne Brown, Ben Martins and Johnny Dladla

High Commissioner ‘seized’ with avoiding post-Brexit trade interruption with South Africa

By: Terence Creamer     23rd June 2017 British High Commissioner to South Africa Nigel Casey says he is currently “very seized” with ensuring that measures are put in place “timeously” to guarantee no interruption in the trade relationship between the UK and South Africa when Britain leaves the European Union (EU) on March 29, 2019.... 

High Commissioner ‘seized’ with avoiding post-Brexit trade interruption with South Africa
High Commissioner to South Africa Nigel Casey

Parliament opposes calls to change Reserve Bank mandate

By: Reuters     23rd June 2017 The South African Parliament will launch a court challenge against an anti-graft watchdog's recommendation of constitutional changes to alter the mandate of the central bank, it said. The legislative assembly joined the central bank and lender Barclays Africa in seeking a court review of Public... 

Parliament opposes calls to change Reserve Bank mandate

Legislative framework for SOEs inadequate – Maswanganyi

By: Anine Kilian     23rd June 2017 South Africa’s transport industry is not immune to the challenges faced by State-owned enterprises (SOEs), according to Transport Minister Joe Maswanganyi, who told a media briefing on Friday that the legislative framework for SOEs in South Africa was inadequate, conflicting and duplicitous.... 

Eskom refuses to provide information on Tegeta claim settlement – AfriBusiness

By: Anine Kilian     23rd June 2017 Business rights watchdog AfriBusiness will consult with its legal team to determine the way forward after State-owned Eskom reportedly refused to provide it with information on the R2-billion fine imposed on Tegeta Resources’ Optimum coal mine. Following a period of arbitration, Eskom and Tegeta... 

Audi SA third carmaker to halt detailed sales reporting

By: Irma Venter     23rd June 2017 New CEO at Audi South Africa (Audi SA), Trevor Hill, says the German premium brand will, by the end of July, stop providing detailed new-vehicle sales numbers to the Department of Trade and Industry (DTI). This announcement follows in the footsteps of Mercedes Benz South Africa (MBSA) and BMW... 

Audi SA third carmaker to halt detailed sales reporting

Ford recalls 15 600 cars in South Africa over fire risk

By: Reuters     23rd June 2017 Ford Motor Company is recalling nearly 16 000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday. The models were built between 2004 and 2012 in India, Ford said in a statement. 

Five directors step down in Group Five board shake-up

By: Natasha Odendaal     23rd June 2017 As construction giant Group Five officially issues a notice of a planned extraordinary general meeting (EGM) on July 24, to reconstitute the board, five directors are set to step down. Effective July 24, independent nonexecutive directors Vincent Rague, Willem Louw and Justin Chinyanta, along... 

Global atomic agency selects South African for key regulatory post

By: Keith Campbell     23rd June 2017 South Africa’s National Nuclear Regulator (NNR) CEO Dr Bismark Tyobeka has been appointed chairperson of the Regulatory Cooperation Forum (RCF) of the International Atomic Energy Agency (IAEA), the NNR announced on Friday. The appointment was decided at the annual RCF Steering Committee meeting... 

Global atomic agency selects South African for key regulatory post
Photo by Duane Daws/Creamer Media
Dr Bismark Tyobeka

MEIBC appoints subcommittee in attempt to resolve metals, engineering wage negotiation deadlock

By: Megan van Wyngaardt     23rd June 2017 The Metal and Engineering Industries Bargaining Council’s management committee has agreed to appoint a subcommittee to attempt resolving the disputes declared by employers and trade unions in the metals and engineering sector. Negotiations to conclude a wage agreement and an agreement on... 

Global aviation industry increasing focus on cyber threats

By: Keith Campbell     23rd June 2017 The global aviation industry is increasingly focusing on cybersecurity. “Cybersecurity … has become a  major concern,” highlighted International Air Transport Association (Iata) regional VP: Africa and the Middle East Muhammad Ali Albakri at a recent media briefing at OR Tambo International... 

Global aviation industry increasing focus on cyber threats
Photo by Duane Daws/Creamer Media
Cybersecurity is a major concern for the global aviation industry

‘Stifling legislation’ preventing SA drones industry from gaining altitude

By: Dylan Slater     23rd June 2017 Drones, or remotely piloted aircraft systems (RPAS), have the potential to benefit numerous industries and could have contributed billions of rands this year, had it not been for what a newly released report implies as the stifling legislative and regulatory environment for unmanned aerial... 

‘Stifling legislation’ preventing SA drones industry from gaining altitude

Brics Environment Ministers adopt sustainability initiative

By: Megan van Wyngaardt     23rd June 2017 The Brazil, Russia, India, China and South Africa (Brics) member countries’ Environment Ministers on Friday adopted the Partnership for Urban Environmental Sustainability Initiative (Puesi), which identifies water and air pollution prevention measures. The initiative further sets out to improve... 

Highly pathogenic avian influenza isolated on South African farm

By: Natasha Odendaal     23rd June 2017 A farm near Villiers is being quarantined and some 28 000 birds are being culled after a highly pathogenic avian influenza of the H5N8 type – the first in South Africa – was found on the Vaal river property. The Mpumalanga Veterinary Authority is on site assisting with quarantine implementation,... 

PwC Tower receives commendation in Fulton Awards

By: Megan van Wyngaardt     23rd June 2017 The PwC Tower, in Midrand, which is nearing completion, has received a commendation in the buildings greater than three storeys category at the 2017 biennial Fulton Awards, hosted by the Concrete Society of South Africa. The PwC Tower is the twenty-fourth tallest twisted building in the world and... 

Ethos Capital reports increase in net asset value

By: Megan van Wyngaardt     23rd June 2017 A return on a temporary investment and an Ethos Mid-Market Fund I (MMF I) equalisation payment has seen JSE-listed holdings company Ethos Capital’s underlying net asset value (NAV) increase to R10.22 a share as at May 31.  The Ethos MMF I concluded its second close towards the end of May, and is... 

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      23rd June 2017 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

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

Mining Charter violates shareholder rights – Hogan Lovells
Hogan Lovells partner Wessel Badenhorst

Implats general meeting to vote on new share issue

By: Martin Creamer     22nd June 2017 Platinum mining and marketing company Impala Platinum (Implats) on Thursday announced details of an annual general meeting to approve the issuing of 175-million new shares. The Johannesburg Stock Exchange-listed company said shareholders would be convened on July 24 to vote on resolutions... 

JSE adopts racial diversity promotion policies

By: Megan van Wyngaardt     22nd June 2017 Following an amendment to its listing requirements, the Johannesburg Stock Exchange (JSE) now requires all its listed companies to have a policy in place, by June 1, 2018, to promote racial diversity at board level. The JSE initiated the proposed amendments to its listing requirements after the... 

Salga calls on municipalities to comply with audit outcomes

By: Anine Kilian     22nd June 2017 The South African Local Government Association (Salga) has reiterated its call for action to be taken against municipalities that do not comply with audit outcomes, stating that municipalities that have irregular outcomes should face consequences. The latest municipal audit outcomes of local... 

Afrimat Construction Index continues to outperform general economy

By: Mia Breytenbach     22nd June 2017 Despite negative perceptions, South Africa’s economy remains resilient, while the construction industry remains healthy and continues to perform well, says Afrimat CEO Andries van Heerden. This is evident in the Afrimat Construction Index (ACI) having expanded by 22.7% between the third quarter... 

Afrimat Construction Index continues to outperform general economy
Afrimat CEO Andries van Heerden

Ramaphosa moves to reclaim ‘radical economic transformation’  

     22nd June 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about society’s scepticism around the term ‘radical economic transformation' and how Deputy President Cyril Ramaphosa is seeking to redefine the term that he says is being misused by others. 

Ramaphosa moves to reclaim ‘radical economic transformation’

Maile’s 2017 budget to focus on jobs

By: Natasha Odendaal     22nd June 2017 Gauteng will continue its focus on intervening decisively to resolve the bottlenecks facing various industry sectors to save and create jobs at a time when the unemployment rate in the province remains high. Economic Development and Agriculture and Rural Development MEC Lebogang Maile on Thursday... 

South Africa committed to nuclear power expansion, process to be open – Zuma 

By: Reuters     22nd June 2017 South Africa is committed to an "open, transparent" process to build new nuclear power plants and the government planned to go through with its plans for nuclear expansion, President Jacob Zuma told Parliament on Thursday. South Africa is planning to build 9 600 MW of nuclear capacity, a project... 

Deep-sea trawling association appoints more representative executive committee

By: Megan van Wyngaardt     22nd June 2017 The South African Deep-Sea Trawling Industry Association (Sadstia) on Thursday said the existing members of its executive committee (Exco) have stood down, with four new executives, who are more representative of the ownership of the deep-sea trawling industry, having been elected to take their... 

Deep-sea trawling association appoints more representative executive committee

VWSA trust makes first investment to grow black supplier base

By: Irma Venter     22nd June 2017 Volkswagen Group South Africa (VWSA) on Thursday officially launched its broad-based black economic empowerment (B-BBEE) Initiatives Trust. The aim of the trust is to increase the number of black-owned suppliers in the automotive sector value chain.  

VWSA trust makes first investment to grow black supplier base
Thomas Schäfer

Dladla appointed acting Eskom CEO ahead of closely watched AGM 

By: Terence Creamer     22nd June 2017 The board at State-owned power utility Eskom announced on Thursday that Johnny Dladla had been appointed acting group CEO with immediate effect. The position of CEO and acting CEO has been vacant since late May, when a decision was made to rescind the highly controversial reappointment of Brian... 

Dladla appointed acting Eskom CEO ahead of closely watched AGM
Johnny Dladla

South32 awards R158m coal contract to 100% black-owned mining firm

By: Martin Creamer     22nd June 2017 Diversified mining company South32 has awarded a three-year, R158-million contract at the Wolvekrans Middelburg Complex to 100% black-owned Modi Mining, which aims to source up to 90% of its labour from the nearby communities. The award marks an advance on the ASX- and JSE-listed company’s plans... 

South32 awards R158m coal contract to 100% black-owned mining firm
Photo by Duane Daws
South32 president and COO Africa Mike Fraser

Raubex chair to retire in September

By: Megan van Wyngaardt     22nd June 2017 JSE-listed investment holding company Raubex’s chairperson Koos Raubenheimer will retire from his position on September 8, the company said on Thursday. He will be succeeded by current nonexecutive director Freddie Kenney. 

Building confidence declines sharply in Q2

By: Megan van Wyngaardt     22nd June 2017 The First National Bank (FNB)/Bureau for Economic Research (BER) Building Confidence Index fell sharply to 32 for the second quarter, down from 43 in the first quarter. All of the measured subsectors registered a drop in confidence. 

Building confidence declines sharply in Q2

The story behind the partial restart of Highveld Steel 

     22nd June 2017 There are some signs of life at the vast Highveld Steel complex, in Mpumalanga, where all production at was halted in 2015 after the country’s second-largest steelmaker was placed into business rescue. 

The story behind the partial restart of the Highveld Steel

WG Wearne, Elcu transaction deemed fair

By: Megan van Wyngaardt     22nd June 2017 The sale of JSE-listed WG Wearne’s Brandvlei Sand Quarry and its ancillary business to Elcu Pumps has been declared fair by BDO Corporate Finance, WG Wearne said on Thursday. The companies in April entered into the R7-million transaction, which forms part of WG Wearne’s restructuring plan to sell... 

Kenya joins Africa Finance Corporation

By: Megan van Wyngaardt     21st June 2017 Kenya is the latest country to become a member of Pan-African multilateral development finance institution, the Africa Finance Corporation (AFC).   Kenya is the AFC’s fifteenth member and its third East African member after Rwanda and Uganda. The other members are Cabo Verde, Chad, Côte d’Ivoire,... 

Third of SA municipalities could become unviable if finances not managed properly – AG 

By: African News Agency      21st June 2017 A third of South Africa’s 263 municipalities risked becoming financially unviable according to the latest audit outcomes released by Auditor General (AG) Kimi Makwetu on Wednesday. “If you’ve got a third of municipalities whose expenditure is starting to become bigger than their revenue either... 

Economic growth ‘well below’ govt expectations, says Cesa survey  

By: Anine Kilian     21st June 2017 Barely missing a recession, South Africa saw its slowest economic growth rate in 2016 since the 2009 recession, when economic growth contracted, according to Consulting Engineers South Africa’s (Cesa’s) Biannual Economic and Capacity Survey for July to December. Taking the first quarter of 2017... 

Economist Elsie Snyman talks to Engineering News Online about the latest Cesa survey

Mitsubishi Hitachi, Sumitomo ink ¥38bn power plant deal with Tunisian company

By: Creamer Media Reporter      21st June 2017 Mitsubishi Hitachi Power Systems (MHPS) and Sumitomo Corporation have secured an engineering, procurement and construction (EPC) contract with Societe Tunisienne de l'Electricite et du Gaz (Steg) for the construction of a ¥38-billion, 450 MW combined cycle gas turbine (CCGT) power plant in Rades,... 

Meat, petrol price increases drive up May CPI food inflation

By: African News Agency      21st June 2017 The headline Consumer Price Index (CPI) inflation lifted slightly in May to 5.4 percent from 5.3 percent year-on-year in April on food and petrol prices, Statistics South Africa said on Wednesday. Figures released on Wednesday, showed that South African food and non-alcoholic beverages price... 

Meat, petrol price increases drive up May CPI food inflation

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