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SARB cautious about more rate cuts

By: Reuters     Updated 11 minutes ago The South African Reserve Bank (SARB) is taking a cautious approach to monetary policy as risks to the inflation outlook are on the upside, deputy governor Daniel Mminele said. South Africa's consumer price inflation stood at 4.8% year-on-year in August. Statistics South Africa is due to publish... 

SARB cautious about more rate cuts
Photo by Bloomberg
SARB deputy governor Daniel Mminele

McKinsey 'embarrassed' by failings in South Africa scandal

By: Reuters     Updated 9 minutes ago McKinsey said on Tuesday it was embarrassed by errors it made while working with South African utility Eskom on a R1.6-billion contract that is being investigated by Parliament and police over allegations of fraud. Privately-held McKinsey, the world's largest management consultancy, said it had... 

McKinsey 'embarrassed' by failings in South Africa scandal

MeerKAT telescope takes part in start of new era of astronomy

By: Keith Campbell     16th October 2017 South Africa’s MeerKAT radio telescope array, although still under construction, has successfully participated in an unprecedented international collaboration that has opened a new era in astronomy. For the first time, a major astronomical event – the collision of two neutron stars – has been... 

MeerKAT telescope takes part in start of new era of astronomy
Photo by SKA South Africa
MeerKAT dishes

Sending right economic signals key to integration of distributed energy resources

By: Terence Creamer     16th October 2017 The transition from centralised electricity systems to ones that increasingly comprise both large-scale centralised resources and distributed energy resources (DERs) is under way globally. However, to successfully manage the shift will depend substantially on sending the right economic signals, a... 

 Sending right economic signals key to integration of distributed energy resources

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

By: Terence Creamer     14th October 2017 Eskom’s application for a 19.9% tariff hike from April 1, 2018, is unacceptable and will result in the partial or full closure of plant capacity and increase unemployment, the Energy Intensive Users Group (EIUG) states in a written submission to the National Energy Regulator of South Africa... 

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

Greenbay makes R1.6bn offer for Group Five’s European assets

By: Anine Kilian     16th October 2017 JSE-listed Group Five has received an unsolicited R1.6-billion offer from global real estate firm Greenbay Properties for its European division. Group Five said in a statement that the intention letter it received from Greenbay included confirmation that it had R1.6-billion cash held in escrow by... 

Greenbay makes R1.6bn offer for Group Five’s European assets

It's up to Gigaba to rebuild trust and confidence in mini budget – Coovadia

By: News24Wire      16th October 2017 The motives behind government’s failure to act in the national interest should be questioned as it undermines trust and service delivery in South Africa, Cas Coovadia, managing director of the Banking Association of South Africa (BASA), said on Monday. Coovadia in a statement called on Finance... 

 It's up to Gigaba to rebuild trust and confidence in mini budget – Coovadia
Photo by Duane Daws
BASA MD Cas Coovadia

Eskom suspends power cuts in MP municipality after receiving payment

By: African News Agency      16th October 2017 South African power utility Eskom on Monday suspended its planned supply interruption to the Govan Mbeki local municipality in Mpumalanga after it reached a payment agreement with the municipality. This comes after Eskom started cutting the power supply to Govan Mbeki Local municipality from... 

BMW electrified vehicle sales jump by 64% year-to-date

By: Irma Venter     16th October 2017 BMW Group sales of electrified vehicles in the first three quarters of 2017 have exceeded those achieved in the whole of 2016, says the German car maker. In September, group electrified vehicle sales topped the 10 000-unit mark for the first time in a single month. 

BMW electrified vehicle sales jump by 64% year-to-date

Imperial Logistics team investigated 86 truck hijackings in 2016 financial year

By: Irma Venter     16th October 2017 During the 2016 financial year, Imperial Logistics investigated 86 cases of truck hijackings with a value of more than R134-million. A dedicated Imperial Logistics investigation team successfully recovered more than 90% worth of trucks, trailers and vehicles, says Imperial Logistics chief... 

Imperial Logistics team investigated 86 truck hijackings in 2016 financial year

Water dept urges corporates to close R30bn/y infrastructure funding gap

By: African News Agency      16th October 2017 The  Department of Water Sanitation has urged the South African financial sector to support its efforts to close the water services R30-billion-a-year infrastructure funding gap.  The department is in the process of drafting a new national water and sanitation master plan, which is expected to be... 

Astral Foods sees jump in full-year profit

By: Reuters     16th October 2017 South African poultry producer Astral Foods said on Monday it expected to report a rise in full-year profit of at least 80% after no further losses were incurred due to avian flu and better than expected September results. Astral expects headline earnings per share (HEPS) of between 1 737 cents... 

UK antitrust regulator investigates South Africa's Aspen Pharmacare

By: Reuters     16th October 2017 Britain's competition regulator has launched an investigation into Africa's biggest generic drug maker Aspen Pharmacare over alleged anticompetitive conduct in the supply of blood pressure and arthritis drugs, Aspen said on Friday. "The investigation is at an early, information-gathering stage... 

Tears and joy on Britain’s St. Helena as 'world's most useless airport' finally opens

By: Reuters     16th October 2017 One of humanity’s most isolated outposts joined the 21st century on Saturday when the British island of St. Helena, home to "the world's most useless airport", welcomed its first commercial flight. As the inaugural plane from Johannesburg touched down on the forbidding volcanic outcrop in the... 

Tears and joy on Britain’s St. Helena as 'world's most useless airport' finally opens

Rolfes appoints new CEO

By: Anine Kilian     16th October 2017 Lizette Lynch has resigned as CEO of JSE-listed Rolfes and will be succeeded by current acting CFO Richard Buttle. The process of appointing a new permanent CFO has commenced. Buttle will retain the role of acting group CFO while a suitable successor is identified. 

Building Energy celebrates start of production at Uganda solar PV plant

By: Anine Kilian     16th October 2017 Independent power producer Building Energy recently inaugurated the 10 MW Tororo solar plant – its first photovoltaic (PV) system in Uganda and one of the largest solar PV plants in Eastern Africa. Building Energy was responsible for the development of the project, arranging the financing, as... 

Global steel demand growth to slow in 2018 after strong 2017 – worldsteel

By: Reuters     16th October 2017 Global steel demand growth is expected to slow to 1.6% next year following strong growth in 2017 that was driven by top consumer China, the World Steel Association (worldsteel) said on Monday. "The risks to the global economy ... have to some extent abated. We see the best balance of risks since... 

Mandela slates 'insensitive' proposal to exclude coloured and Indian BEE contractors

By: News24Wire      Updated 18 minutes ago A proposal to exclude South Africans who are coloured and those of Indian descent from lucrative state contracts in KwaZulu-Natal is ill-conceived and designed to only benefit the advantaged, said MP and chief Nkosi Zwelivelile Mandela on Monday. "The proposal flies in the face of the significant... 

City of Cape Town's water supply augmentation process 'not cancelled'

By: News24Wire      Updated 24 minutes ago The City of Cape Town has announced on Monday that its emergency augmentation programme to increase the supply of water in the drought-stricken metro has not been cancelled as reported in the media. "Contrary to allegations emerging over the weekend, the City of Cape Town's augmentation programme... 

Iraqi forces capture North Oil Co. from Kurdish forces; no disruption to oil production

By: Reuters     16th October 2017 Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq forces moved into the premises of Iraqi state-owned North Oil after taking the nearby K1 airbase, the... 

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

China can solve renewable energy waste problem by 2020 - NEA

By: Reuters     16th October 2017 China expects to solve the problem of renewable energy waste by 2020, Liang Zhipeng, deputy director of the new energy and renewable energy department of the National Energy Administration (NEA) said in a presentation at a conference on Monday. He also said the agency expects the wind sector to... 

DA to report minister Brown to public protector and ethics committee over Eskom contract

By: African News Agency      16th October 2017 The Democratic Alliance (DA) will ask Public Protector Busisiwe Mkhwebane to investigate Public Enterprises Minister Lynne Brown for any role she played in awarding lucrative oil contracts worth R1.2-million from Eskom “to her lover and close business associate” despite their lack of expertise in... 

Mango airline pilots go on strike

By: African News Agency      16th October 2017 Mango airline’s flight crews downed tools at 5 am on Monday morning after wage negotiations collapsed. Solidarity, which represents 95% of the pilots at Mango airline, said wage hike talks with Mango’s management on Sunday collapsed. As a result the union, which also represents flight captains... 

US demands regional steel, aluminum in Nafta auto rules

By: Reuters     16th October 2017 The Trump administration is demanding the use of North American-made steel, aluminum, copper and plastic resins in cars and trucks sold under North American Free Trade Agreement rules, as it seeks to give US industry a boost. People briefed on the matter said US negotiators issued the proposal,... 

El Nino contributes to new high in carbon dioxide levels

By: News24Wire      16th October 2017 The amount of atmospheric carbon dioxide (CO2) in our world is likely to top 410 parts per million (ppm) this year. The CO2 measured at the Mauna Loa Baseline Atmospheric Observatory in Hawaii hit 405.1 ppm in 2016 - an increase of 3 ppm over the previous year, marking five consecutive years of... 

African airlines to incur $800m loss for 2017

By: Anine Kilian     13th October 2017 Although the global airline industry is expected to post a $31-billion net profit this year, African airlines will once again incur losses of up to $800-million. Southern African Development Community airlines are expected to incur a combined $350-million loss, of which about $100-million will be... 

Court declares contract between City of Tshwane, two service providers invalid

By: African News Agency      13th October 2017 The North Gauteng High Court on Friday declared a contract between the City of Tshwane and two service providers PEU Capital Partners and it’s subsidiary TUMS invalid. The court ordered that the R950-million, placed in a special trust account set up for the purchase of PEU’s infrastructure, to be... 

Africa’s State-owned airlines underperforming

By: Anine Kilian     13th October 2017 State-owned airlines in Africa are not operating at the capacity they should be, says Boeing sub-Saharan Africa MD Miguel Santos. Speaking to Engineering News Online on the sidelines of the Airlines Association of Southern Africa’s forty-seventh annual general assembly, in KwaZulu-Natal, he noted... 

Ekurhuleni’s Harambee BRT to start limited service next week

By: Natasha Odendaal     13th October 2017 The City of Ekurhuleni is set to kick off the first official run of its bus rapid transit (BRT) service, Harambee, next week as part of the implementation of its Phase 1A operations. The limited service, starting on Wednesday, will run eight buses in mixed traffic along the 38 km service route,... 

Carlyle snaps up Nosa to access occupational health, safety growth in emerging markets

By: Schalk Burger     13th October 2017 Nasdaq-listed asset management multinational Carlyle Group will acquire emerging markets-focused occupational health and safety training company Nosa Group from JSE-listed Micromega Holdings for up to R747.8-million. The occupational health and safety sector is particularly attractive across... 

Seifsa president laments slow pace of metals sector transformation

By: Terence Creamer     13th October 2017 The slow pace of transformation in the metals and engineering sector continues to be of concern, Steel and Engineering Industries Federation of Southern Africa (Seifsa) president Michael Pimstein said during his presidential address in Johannesburg on Friday. He urged the sector, which represents... 

Seifsa president laments slow pace of metals sector transformation

Russian nuclear group signs MoU with local young nuclear professionals association

By: Keith Campbell     13th October 2017 A subsidiary of Russia’s State-owned nuclear group Rosatom has signed a Memorandum of Understanding (MoU) with the South African Young Nuclear Professionals Society (SAYNPS) at the recent SAYNPS Nuclear Youth Summit 2017. The subsidiary concerned is Rusatom International Network (Rusatom being... 

Aviation industry key to supporting tourism sector

By: Anine Kilian     13th October 2017 Aviation plays a central role in supporting the tourism sector, with over 54% of international tourists now travelling by air, KwaZulu-Natal economic development, tourism and environmental MEC Sihle Zikalala said at the Airlines Association of Southern Africa’s forty-seventh annual general... 

Mkhwebane seeks delay in Bankorp review – report

By: News24Wire      13th October 2017 Public Protector Busisiwe Mkhwebane has requested that a review of the Bankorp-CIEX report be postponed. According to a report by EWN, the Public Protector has asked the deputy judge president of the North Gauteng High Court to delay the review of the report until January 2018, following reports... 

 Mkhwebane seeks delay in Bankorp review – report
Photo by Reuters
Public Protector Busisiwe Mkhwebane

SAA given brief reprieve on maturing debt

By: Reuters     13th October 2017 South Africa's State-owned airline SAA has been given until the end of October to settle R5-billion of maturing debt to domestic lenders, although the relief may be extended a further two years, Finance Minister Malusi Gigaba said in a report to parliament on Friday. The debt had originally been... 

M1 final phase opening delayed by one week

By: Natasha Odendaal     13th October 2017 The planned reopening of three lanes on the M1 southbound between Oxford and Federation bridges will be delayed by one week as a result of heavy storms earlier this week. The Johannesburg Road Agency (JRA) earlier this month completed the structural rehabilitation programme on the M1 Oxford and... 

GBCSA launches Net Zero pilot certification scheme

By: Schalk Burger     13th October 2017 The certification of the first four projects under the Green Building Council South Africa’s (GBCSA’s) Net Zero pilot certification scheme was announced this week. Net zero carbon buildings are defined as highly energy efficient buildings, with remaining energy demand supplied by on-site and/or... 

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