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AU ready to sign continental trade treaty without Nigeria

By: African News Agency      Updated 1 hour 20 minutes ago African Union (AU) chairperson Paul Kagame on Tuesday gave a strong indication yet that member states will sign the treaty to create the continental free trade area even if the continent's most-populated country, Nigeria, withdraws from the meeting. At least 53 African Heads of States have... 

AU ready to sign continental trade treaty without Nigeria
Photo by Bloomberg
AU chairperson Paul Kagame

New research facility to unlock economic potential of South Africa’s biomass waste

By: Shirley le Guern     Updated 1 hour 12 minutes ago The Department of Science and Technology and the Council for Scientific and Industrial Research (CSIR) on Tuesday launched a R37.5-million Biorefinery Development Facility (BIDF) in Durban that will bridge the gap between research and development and industrialisation, while helping to rejuvenate... 

New research facility to unlock economic potential of South Africa’s biomass waste
Science and Technology Minister Mmamoloko Kubayi-Ngubane and Biorefinery Development Facility group leader Bruce Sithole

Civil society organisations oppose coal IPP generation licence applications

By: Simone Liedtke     Updated 53 minutes ago Civil society organisations will use next week’s public hearings into the generation licence applications for the Thabametsi and Khanyisa power station projects to raise their objections to the new coal-fired power stations that private developers plan to build in Limpopo and Mpumalanga. The Life... 

Moyane threatens Ramaphosa with legal action over suspension

By: News24Wire      Updated 6 hours ago Suspended South African Revenue Service (Sars) head Tom Moyane has threatened legal action over his suspension.  In a letter that Moyane wrote to President Cyril Ramaphosa on March 19, he said that his suspension was part of an "unlawful process".  

 Moyane threatens Ramaphosa with legal action over suspension
Photo by Duane Daws
Suspended Sars Commissioner Tom Moyane

Reserve Bank expected to cut repo rate on March 28

By: Reuters     20th March 2018 The South African Reserve Bank (SARB) will cut its repo rate by 25 basis points to 6.50% just days after Moody's is expected to give the country another chance to reform its finances, a Reuters poll found on Tuesday. Fifteen of 22 economists said the Bank would cut interest rates by 25 basis... 

Q4 current account deficit widens as strong rand boosts imports

By: Reuters     Updated 7 hours ago South Africa's current account deficit widened more than expected to 2.9% of GDP in the fourth quarter due to a smaller trade surplus driven by a rally in the currency late last year, central bank said on Tuesday. The rand has appreciated by about 20% against the dollar since mid-November, in the... 

DTI to spend R415m to upgrade 11 industrial parks

By: Anine Kilian     Updated 54 minutes ago The Department of Trade and Industry (DTI) will have spent R415-million on the revitalisation of 11 industrial parks, deputy director-general Lionel October said on Tuesday. Presenting the DTI’s annual performance plan to the Portfolio Committee on Trade and Industry, in Parliament, he said the... 

Heartwood Properties lists on 4AX

By: Marleny Arnoldi     Updated 2 hours 53 minutes ago Exchange trading platform 4 Africa Exchange (4AX) on Tuesday listed its first issuer operating in the property sector – Heartwood Properties.  

Heartwood Properties lists on 4AX
4AX CEO advocate Fay Mukaddam

South Africa’s aviation activity index shows continuing mild improvement

By: Rebecca Campbell     Updated 2 hours 32 minutes ago On Tuesday the Commercial Aviation Association of South Africa (Caasa) released its composite index of aviation activity for the fourth quarter of last year (4Q17). The Caasa Aviation Activity Index (CAAI) is created using 25 different indicators. It is designed to provide a measure of economic... 

Business model for airports under threat, globally

By: Rebecca Campbell     Updated 6 hours ago Worldwide, airports are facing a significant challenge to their current business models, S&P Global infrastructure ratings senior director Mar Beltran has warned. The challenge comes from important changes in the behaviour of passengers using their facilities. Airports have benefitted from a... 

Business model for airports under threat, globally
Photo by Duane Daws/Creamer Media
Changes in passenger behaviour will require skilful management by airports

Eskom warns the public against tender scams

By: Marleny Arnoldi     Updated 2 hours 56 minutes ago State-owned power utility Eskom is warning members of the public against tender scams where fraudsters pretend to represent the Eskom supply chain management section and issue orders and invitations to tender for Eskom contracts.  

Eskom warns the public against tender scams

PETCo, partners relieve pressure on Western Cape recycling capacity

By: Simone Liedtke     Updated 54 minutes ago Owing to an all-time-high demand for plastic bottles in the Western Cape region, the province’s recycling capacity is at maximum production and unable to process the additional influx of bottles. In an attempt to overcome this challenge and to prevent additional bottles being sent to landfill... 

Growthpoint sees Gauteng East Rand as hotspot for industrial properties

By: Simone Liedtke     Updated 5 hours ago Growthpoint sees Gauteng East Rand as hotspot for industrial properties Gauteng’s East Rand was a hotspot for industrial property leasing in 2017, says Growthpoint Properties, which concluded 70 deals – 40 new and 30 renewals – in the area during the year. 

Growthpoint sees Gauteng East Rand as hotspot for industrial properties
Growthpoint Industrial Division Director Engelbert Binedell

LaunchLab calls for entries for 2018 Ideas Programme

By: Simone Liedtke     Updated 1 hour 52 minutes ago Stellenbosch University’s LaunchLab has officially launched the seventh iteration of its Ideas Programme, which calls on startup businesses in multiple industries to validate their business concepts with real market players and start their journey towards the maturity required to attracting... 

LaunchLab calls for entries for 2018 Ideas Programme
LaunchLab calls for entries for 2018 Ideas Programme

South Africa joins global AI community

By: Marleny Arnoldi     Updated 1 hour 56 minutes ago Global nonprofit organisation City.AI has welcomed South Africa as a new member and is inviting local artificial intelligence (AI) practitioners to attend its first Cape Town City.AI event, which will be held on March 27.  

South Africa joins global AI community

WTO members say US actions threaten trade body's credibility

By: Reuters     Updated 1 hour 24 minutes ago Nearly 50 countries expressed concern on Tuesday about the "serious threat" to the World Trade Organisation posed by unilateral trade actions, a pointed reference to US import tariffs that have caused a global outcry. Delivering concluding remarks after a two-day informal meeting of the WTO... 

Chinese control of cobalt supply risk for EU car industry – Glencore

By: Reuters     Updated 1 hour 26 minutes ago Glencore chief executive Ivan Glasenberg said that the automotive industry is waking up too late to the fact that the Chinese will hold most of the world's global cobalt supply, a key metal for electric vehicle (EV) batteries. "If cobalt falls in hands of the Chinese, yeah you won't see EVs being... 

There are no investigations into Gordhan – Hawks

By: News24Wire      Updated 1 hour 48 minutes ago The Hawks have denied allegations that they are targeting Public Enterprises Minister Pravin Gordhan for supposedly taking part in illegal interceptions and spying during his time as South African Revenue Service (Sars) commissioner. In a statement, Hawks spokesperson Brigadier Hangwani Mulaudzi... 

There are no investigations into Gordhan – Hawks
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

Parliament's finance committee welcomes suspension of Sars boss

By: African News Agency      Updated 2 hours 55 minutes ago Parliament's standing committee on finance on Tuesday welcomed the suspension of South African Revenue Service (Sars) commissioner Tom Moyane, saying a disciplinary inquiry against him should be "fair, swift and decisive". "The committee feels strongly that in view of the role Sars plays, it is... 

 Parliament's finance committee welcomes suspension of Sars boss
Photo by Creamer Media
Suspended Sars boss Tom Moyane

55 municipalities are dysfunctional – Mkhize

By: News24Wire      Updated 3 hours ago No fewer than 55 municipalities have been identified as distressed or dysfunctional, Cooperative Governance and Traditional Affairs (Cogta) Minister Zweli Mkhize says. Mkhize announced on Tuesday that he would be deploying technical capacity experts who would provide support to municipalities in... 

55 municipalities are dysfunctional – Mkhize
Photo by Duane Daws
Cogta Minister Zweli Mkhize

SARB's Naidoo: We warned VBS on its reliance of huge depositors

By: African News Agency      Updated 4 hours ago In his presentation to the Standing Committee on Finance, South African Reserve Bank (SARB) registrar Kuben Naidoo raised concerns including deficient compliance culture, weak asset and liability management, potentially illegal municipal depositions and poor quality in regulatory reports. The... 

SARB's Naidoo: We warned VBS on its reliance of huge depositors

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     Updated 7 hours ago Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

Zambia picks Unitel unit as fourth mobile operator

By: Reuters     Updated 7 hours ago Zambia has selected a unit of Dutch company Unitel International Holdings as the country's fourth mobile phone service provider, the communications regulator said on Monday. The Zambia Information and Communications Technology Authority (ZICTA) said in a statement that Unitel had pledged to... 

Tanzania says AB InBev to build $100m plant

By: Reuters     Updated 7 hours ago AB InBev, which owns a majority stake in Tanzania Breweries Limited, the country's biggest brewer, will invest $100-million in a new beer plant in the administrative capital Dodoma, the president's office announced. President John Magufuli on Monday chaired a day-long meeting with major foreign... 

UCT scientists convince city to drill cautiously into aquifer

By: News24Wire      20th March 2018 The City of Cape Town's emergency groundwater drilling programme will be formally scrutinised by an environmental monitoring committee. This is to ensure boreholes are located in ecologically-acceptable areas and are operated responsibly, according to a GroundUp report. The programme, that... 

Acting SARS commissioner announced

By: News24Wire      20th March 2018 Mark Kingon has been appointed as the acting SARS commissioner, National Treasury has confirmed. Kingon is currently the acting chief officer of business and individual taxes division at the revenue service. "He has been with SARS since its establishment and worked his way through the ranks to... 

Acting SARS commissioner announced

Climate change could force millions to migrate within countries by 2050, warns World Bank

By: Simone Liedtke     19th March 2018 Unless urgent climate and development action is taken globally and nationally, just over 143-million people could be forced to move within their own countries to escape the slow-onset impacts of climate change by 2050, a new World Bank report 'Groundswell - Preparing for Internal Climate... 

Climate change could force millions to migrate within countries by 2050, warns World Bank
Photo by Reuters
Climate change is becoming a more urgent economic, social and existential threat to countries and their people

Ethos Capital lifts interim NAV

By: Anine Kilian     19th March 2018 JSE-listed Ethos Capital’s net asset value (NAV) increased to R1.9-billion during the six-months ended December 31. The company said in a statement on Monday that it increased its underlying exposure to 11 companies, with invested capital equal to 39% of NAV. The company reiterated its long-term... 

IP policy yet to be finalised

By: Marleny Arnoldi     19th March 2018 The Department of Trade and Industry (DTI) is still finalising its Intellectual Property (IP) policy, before submitting it to Cabinet for approval. DTI International Trade and Economic Development division director Marumo Nkomo on Monday said the IP policy ensures intra-governmental coordination... 

IP policy yet to be finalised
Trade and Industry Minister Dr Rob Davies

CMH FY headline earnings expected to rise

By: Simone Liedtke     19th March 2018 Investment holding company Combined Motor Holdings (CMH) expects to report a 10% to 20% increase in its headline earnings per share (HEPS) to between 312.6c and 341c for the year ended February 28. CMH reported HEPS of 282.2c for the 2017 financial year. 

Enel starts conversion to new PV panel manufacturing technology at Italy factory

By: Simone Liedtke     19th March 2018 Multinational renewable-energy corporation Enel Green Power has started a technology conversion project at its 3SUN factory, in Catania, Italy, to enable the facility to become the exclusive manufacturer of heterojunction technology (HJT) bifacial photovoltaic (PV) panels. The HJT bifacial PV... 

15 MW Essakane hybrid plant inaugurated in Burkina Faso

By: Simone Liedtke     19th March 2018 The 15 MW Essakane solar plant, in northern Burkina Faso, has been officially opened. The photovoltaic (PV) plant will supply electricity to Iamgold's Essakane gold mine. 

AfDB teams up with international organisation to drive solar development in Africa

By: Simone Liedtke     19th March 2018 The African Development Bank (AfDB) has signed a joint declaration with the International Solar Alliance (ISA) to promote the development of solar energy in Africa. The joint declaration recognises the bank's leadership in working with several parties, including governments, the private sector... 

JDA to start construction of R260m Watt Interchange

By: Simone Liedtke     19th March 2018 City of Johannesburg infrastructure development entity, the Joburg Development Agency (JDA), will start construction on the R260-million Watt Interchange next month, with construction expected to be completed in June 2019. This forms part of Work Package 15K for Section 15 of Phase 1C of the Rea... 

Phakeng elected UCT vice-chancellor

By: Thabi Madiba     19th March 2018 The University of Cape Town Council announced on Saturday that is has chosen Professor Mamokgethi Phakeng, as the new vice-chancellor of the university, with effect from July 1, 2018. Currently deputy vice-chancellor: research and internationalisation, Phakeng will take over from Dr Max Price,... 

Phakeng elected UCT vice-chancellor
Newly elected UCT vice-chancellor Mamokgethi Phakeng

US govt to accept metals tariffs exclusion requests from Monday

By: Reuters     19th March 2018 The US Commerce Department said it will begin accepting requests on Monday for product exclusions from President Donald Trump's new steel and aluminum import tariffs, but it could take up to 90 days for the agency to make determinations. In a notice published on Saturday on the Federal Register... 

Tiger Brands flags loss at meat unit after listeria outbreak

By: Reuters     19th March 2018 South Africa's Tiger Brands said on Monday it expected its meat products unit to record a monthly loss of up to R33-million ($3-million) after it suspended operations at four sites over a listeria outbreak that has killed 180 people in 14 months. Health authorities ordered a recall of processed... 

Plan in place to make up lost time on Western Cape’s R60 and R62 upgrade

By: Simone Liedtke     16th March 2018 The Western cape government has said that a plan is in place to make up for lost time on a Department of Transport and Public Works (DTPW) contract to rehabilitate and upgrade various sections of the R60 and R62 between Ashton and Montagu through Cogmanskloof. Work on this R583-million contract... 

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