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Listed contractors feeling the pinch as construction sector dynamics change 

By: Natasha Odendaal     18th July 2018 A change in dynamics within the construction industry over the past few years is leading to the demise of the “big contractor” in South Africa. With the first potential “casualty” possibly being seen in the downward spiral of Basil Read, Industry Insight senior economist David Metelerkamp on... 

Industry Insight senior economist David Metelerkamp discusses the state of South Africa's construction industry. Video and editing: Darlene Creamer.

Ramaphosa’s $100bn investment target will be reached in a year – Brics ambassador

By: African News Agency      18th July 2018 The target set by President Cyril Ramaphosa to garner $100-billion in local and foreign investment to boost the South African economy is “modest” and would be achieved within a year, Professor Anil Sooklal said on Tuesday. “The $100-billion is a modest target. I believe we will reach that in a... 

Vukile raises R1.63bn, acquires new properties in Spain

By: Anine Kilian     18th July 2018 JSE-listed Vukile Property Fund, which is expanding its presence in Spain, has raised about R1.63-billion through the issue of new shares. Of the total, R1.38-billion was raised through an accelerated bookbuild process that was open to selected investors. 

Sappi to build xylitol, furfural production demo plant

By: Creamer Media Reporter      18th July 2018 Pulp and paper producer Sappi has decided to build a demonstration plant to further scale up its novel Xylex technology for the production of xylitol and furfural. The plant, which will become operational in early 2019, will be located adjacent to the existing sugars and lignin extraction plant... 

City of Cape Town cancels Foreshore Freeway Precinct project

By: News24Wire      18th July 2018 Cape Town's famous unfinished freeway will remain as it is, after the City announced on Wednesday that it was cancelling its ambitious Foreshore Freeway Precinct project. "The City of Cape Town’s City Manager has, upon receiving legal advice, taken the decision to cancel the Request for Proposals... 

Battery storage to benefit businesses, municipalities

By: Simone Liedtke     18th July 2018 Battery storage will have a significant and firm impact on the uptake of renewable energy in South Africa, enabling users, whether in the retail or industrial space, to leverage some of the value that solar energy can create, says SOLA Future Energy energy storage services head Daniel Goldstuck.... 

Electricity supply in Africa driven by market rather than player – PowerGen panel

By: Marleny Arnoldi     18th July 2018 The energy industry in Africa is faced with more opportunities than challenges, a panel of speakers at the PowerGen conference agreed on Tuesday. Power Utility Leadership platform founder Izak du Plessis remarked that similar to other industries, the electricity industry will change and keep... 

Globeleq acquires Brookfield’s South African renewables portfolio

By: Anine Kilian     18th July 2018 Globeleq has entered into an agreement with an affiliate of Brookfield Asset Management to acquire Brookfield’s interest in its South African renewable energy portfolio.   The agreement is subject to various closing conditions and, once fulfilled, will give Globeleq a majority shareholding in six... 

Volvo Trucks appoints new Southern Africa VP

By: Irma Venter     18th July 2018 Volvo Group Southern Africa has announced the appointment of Marcus Hörberg to lead the company’s local operations, with effect July 1. He replaces Torbjörn Christensson. 

Volvo Trucks appoints new Southern Africa VP
Marcus Hörberg

Growthpoint shares start trading on A2X

By: Creamer Media Reporter      18th July 2018 Real estate investment trust Growthpoint Properties’ shares began trading on the A2X on Wednesday. Growthpoint retains its primary listing on the JSE. 

Calgro M3 expands Memorial Parks business

By: Anine Kilian     18th July 2018 JSE-listed property and property related investment holding company Calgro M3 has expanded its Memorial Parks business to two more provinces – the Western Cape and the Free State. This increases the number of memorial parks owned and managed by the group to five, with further plans to acquire... 

Aerospace group Boeing expects strong global airliner and services demand until 2037

By: Rebecca Campbell     18th July 2018 Global aerospace giant Boeing has predicted that 42 730 new jet airliners, worth $6.3-trillion, will be needed to meet demand over the next 20 years. This forecast was unveiled in the group’s 'Commercial Market Outlook', released at the Farnborough International Airshow, currently under way in... 

Aerospace group Boeing expects strong global airliner and services demand until 2037
Photo by Duane Daws/Creamer Media
A Boeing 737-800 of South African budget airline Kulula

South African initiative wins prestigious global education award

By: News24Wire      18th July 2018 The impact that a South African programme has made on the education of children has earned it a prestigious international award. Partners for Possibility, the flagship programme of Symphonia for South Africa, was one of six winners in the World Innovation Summit for Education (WISE) awards, which... 

South African initiative wins prestigious global education award

Revolutionary solar-power desalination plant could provide cheaper option, but it needs space

By: News24Wire      18th July 2018 The new solar-powered desalination plant under construction at Witsand on the southern Cape coast will produce water at a cost of only R7 to R8 a kilolitre. This is less than a quarter of the cost of water from Cape Town's temporary desalination plant at Strandfontein. Water from the... 

Revolutionary solar-power desalination plant could provide cheaper option, but it needs space

Tullow Oil to shoulder Kosmos' $65m burden over Ghana rig dispute

By: Reuters     18th July 2018 Britain's Tullow Oil has to cough up around $65-million for Kosmos Energy's share and legal fees over a cancelled rig contract in Ghana, the companies said on Wednesday. A London judge had ordered Tullow this month to pay rig owner Seadrill around $254-million, saying Tullow was wrong to end the... 

EU to curb steel imports after Trump tariffs

By: Reuters     18th July 2018 The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the US imposition of tariffs on incoming steel and aluminium, the EU's official journal said. The European Commission has proposed a combination of a quota and a tariff to... 

Google hit with record $5bn EU antitrust fine

By: Reuters     18th July 2018 EU regulators hit Google with a record €4.34-billion ($5-billion) antitrust fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record of €2.4-billion, which the US tech company was ordered to pay last year over its... 

Competition Amendment Bill 

18th July 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the changes proposed in the Competition Amendment Bill, which has been tabled before Parliament. 

Competition Amendment Bill

UN Security Council imposes arms embargo on South Sudan

By: African News Agency      18th July 2018 The United Nations Security Council (UNSC) has imposed an arms embargo on South Sudan as a measure to prevent the flow of weapons to armed groups in the war-hit nation. The members who backed the imposition of the ban believe such a move would help protect civilians, while others raised concerns... 

SA annual consumer inflation accelerates to 4.6 percent in June - stats agency

By: African News Agency      18th July 2018 South Africa’s annual consumer price inflation quickened to 4.6 percent in June from 4.4 percent in May, data from the national statistics agency showed on Wednesday. On average, prices increased by 0.4 percent between May and June, Statistics South Africa said. 

 SA annual consumer inflation accelerates to 4.6 percent in June - stats agency

Madiba's light shone so brightly – Obama 

By: Sane Dhlamini     18th July 2018 Madiba's light shone so brightly, even from that narrow Robben Island cell, said the 44th US President Barack Obama during the sixteenth annual Nelson Mandela Lecture, on Tuesday, in Johannesburg. The speech was well received by almost 15 000 South Africans and dignitaries from many countries... 

Barack Obama delivers the 2018 Nelson Mandela annual lecture (Camera & editing: Nicholas Boyd)

I believe in Nelson Mandela’s vision – Obama

By: Sane Dhlamini     17th July 2018 “I believe in Nelson Mandela’s vision,” former US President Barack Obama said during the sixteenth annual Nelson Mandela Lecture, on Tuesday. The event, held in Johannesburg, celebrates Madiba’s centenary this year and was attended by thousands including dignitaries such as Graça Machel, Ban Ki... 

I believe in Nelson Mandela’s vision – Obama
Photo by Dylan Slater
Former US President Barack Obama

Madiba belonged to the world – Ramaphosa  

By: Sashnee Moodley     17th July 2018 South Africans and people around the world are humbled and privileged to be participating in this celebration of the centenary of Nelson Mandela, declared President Cyril Ramaphosa during his introduction of former US President Barack Obama during the sixteenth annual Nelson Mandela Lecture,... 

President Cyril Ramaphosa speaking at the sixteenth annual Nelson Mandela Lecture (Camera & editing: Nicholas Boyd)

Africa’s energy industry facing disruption

By: Anine Kilian     17th July 2018 Africa’s energy industry is not declining, but it is being disrupted, says GE gas power systems anglophone Africa sales MD Nosizwe Dlengezele. Addressing media at a briefing, in Johannesburg, on Tuesday, she noted that, ultimately, people who rely on the energy market will find ways to acquire... 

Study indicates FDI can provide credible solutions to several social issues

By: Simone Liedtke     17th July 2018 If guided wisely, foreign direct investment (FDI) can provide credible solutions to inequality, and alleviate urban poverty and unemployment, the United Nations Human Settlements Programme (UN-Habitat) said on Tuesday with the release of its ‘State of the African Cities 2018’ report. Drawing on a... 

Competition Bill’s national security veto of foreign mergers ‘tightly codified’

By: Terence Creamer     17th July 2018 The national security veto included in the Competition Amendment Bill, which was tabled before Parliament on Tuesday, had been “tightly codified” so as not to deter potential investors, but rather offer certainty, Economic Development Minister Ebrahim Patel said during a briefing in Cape Town.... 

Competition Bill’s national security veto of foreign mergers ‘tightly codified’
Photo by Creamer Media
Economic Development Minister Ebrahim Patel

Yes, we can! – Graça Machel

By: Sashnee Moodley     17th July 2018 Speaking at the sixteenth annual Nelson Mandela Lecture in Johannesburg on Tuesday, Graça Machel called on South Africans to give all youth a chance and evoked former US President Barack Obama’s 2008 presidency campaign slogan ‘Yes, we can!’. Machel said that she was overjoyed to learn of the... 

Yes, we can! – Graça Machel
Photo by Dylan Slater
Graça Machel

Kenya's Safaricom in 'advanced talks' to take M-Pesa to Ethiopia

By: Reuters     17th July 2018 Kenya's Safaricom is in "advanced talks" with the Ethiopian government to introduce its popular M-Pesa mobile money service to neighbouring Ethiopia, a market of 100-million people, two sources said on Tuesday. Britain's Vodafone, Safaricom's parent company, will license the use of the M-Pesa... 

Eskom cuts power to defaulting Free State municipalities

By: African News Agency      17th July 2018 Residents at Tokologo, Masilonyana and Nala municipalities in the Free State will face power cuts due to the councils' failure to honour their debt payment agreements with Eskom, the power utility said on Tuesday. ''The next payments for Tokologo, Masilonyana and Nala Local municipalities were... 

Numsa lodges wage dispute with AMSA

By: African News Agency      17th July 2018 The National Union of Metalworkers of South Africa said on Tuesday it had lodged a dispute at the Commission for Conciliation, Mediation and Arbitration (CCMA) against ArcelorMittal South Africa (AMSA) after reaching a deadlock in wage talks. The union is demanding an 11% wage increase across the... 

Britain unveils progress in high technology combat aircraft project

By: Rebecca Campbell     17th July 2018 The UK unveiled a full-scale mock-up of a sixth-generation combat aircraft on the first day of the Farnborough airshow on Monday. This, described as a “concept aircraft”, is the result of the work of a consortium called Team Tempest, which is made up of British aerospace firms and the Royal Air... 

Britain unveils progress in high technology combat aircraft project
Photo by UK Ministry of Defence
An artist’s impression of a “Team Tempest” design aircraft in flight

R2.6bn boost for platinum demand

By: Martin Creamer     17th July 2018 Platinum demand received a R2.6-billion boost on Tuesday when South Africa’s State-owned Public Investment Corporation (PIC) joined forces with Anglo American Platinum (Amplats) to promote the development of innovative and competitive technological uses of platinum-group metals (PGMs). By each... 

R2.6bn boost for platinum demand
From left are PIC executive head: project development Sholto Dolamo; AP Ventures partner Kevin Eggers, AP Ventures managing partner Andrew Hinkly and Anglo American Platinum CEO Chris Griffith.

Trade conditions worsen – Sacci

By: Creamer Media Reporter      17th July 2018 Trade conditions deteriorated further in June, says the South African Chamber of Commerce and Industry (Sacci). Sacci’s Trade Activity Index (TAI), which measures present trade conditions, moved further into negative territory, at 37, compared with 40 in May. It was also 11 points lower than in... 

Grit to seek LSE listing, raise $120m for acquisitions

By: Creamer Media Reporter      17th July 2018 Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius. 

Transforming public transport hubs key to better city living, says US professor

By: Irma Venter     17th July 2018 Creating transit-oriented developments (TODs) is one way to build a more sustainable city with lower car use and higher density, says University of California, Berkeley, city and regional planning professor emeritus Robert Cervero. TODs refer to public transport hubs evolving into a “place to... 

 Transforming public transport hubs key to better city living, says US professor

ANC support at comfortable 60% – poll

By: Sashnee Moodley     17th July 2018 A poll undertaken by global market research and consulting firm Ipsos revealed that the African National Congress (ANC) could enjoy a comfortable margin in next year’s national election as it has a possible support base of 60%, compared with other parties. Ipsos randomly polled 3 738 adult South... 

ANC support at comfortable 60% – poll

China overloading poor nations with debt, top US official says

By: Reuters     17th July 2018 China is saddling poor nations with unsustainable debt through large-scale infrastructure projects that are not economically viable, the head of the US Overseas Private Investment Corporation (OPIC) said on Monday. The criticism of Beijing - targeted by President Donald Trump in a trade war that... 

Goodbye Chery, FAW cars, but Tata, Mitsubishi here to stay, says Motus

By: Irma Venter     17th July 2018 Motus no longer imports Chery, Foton and FAW passenger cars and bakkies into South Africa, says Motus Emerging Brands MD Pedro Pereira. Motus is the division of the Imperial group encompassing all things motoring. Motus is set for a separate listing on the JSE in October, following the unbundling... 

Goodbye Chery, FAW cars, but Tata, Mitsubishi here to stay, says Motus
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