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Takeover panel clears way for M&R to move on Aveng tie-up amid ongoing ATON opposition

By: Terence Creamer     Updated 2 hours 11 minutes ago Murray & Roberts (M&R) announced on Thursday that it would proceed to further develop a potential tie-up with Aveng after the Takeover Regulation Panel (TRP) sanctioned the outcome of an earlier shareholder vote, which approved a resolution stating that the proposed Aveng deal was not designed to... 

Takeover panel clears way for M&R to move on Aveng tie-up amid ongoing ATON opposition

Basil Read applies for suspension of listing

By: Reuters     Updated 4 hours ago South African construction firm Basil Read Holdings said on Wednesday it had applied to the JSE for the voluntary suspension of the listing of its shares after a key unit started business rescue proceedings. The cash-strapped company announced on Friday that Basil Read Limited, its wholly owned... 

Traffic on Gauteng’s freeways to grow by 50 000 trips a day in 2018

By: Irma Venter     Updated 1 hour 57 minutes ago Current traffic growth on Gauteng’s e-toll freeways is running at around 4%, says South African National Roads Agency Limited (Sanral) planning, toll and transportation project engineer Alan Robinson. This means the current volume of 1.25-million people-trips a day on the e-toll freeway network... 

Traffic on Gauteng’s freeways to grow by 50 000 trips a day in 2018

Standard Bank promises fleet savings as fuel price surges

By: Irma Venter     Updated 1 hour 50 minutes ago A number of fleet management solutions can save businesses the additional costs of the recent value-added tax (VAT) and fuel price increases, says Standard Bank Fleet Management executive head Derick de Vries. He says this year’s increase in VAT to 15% from 14% can be “comfortably offset” by... 

Standard Bank promises fleet savings as fuel price surges
Derick de Vries

There is hope for South Africa’s manufacturing sector – October

By: Anine Kilian     20th June 2018 South Africa has the potential to revive, remould and expand its manufacturing sector through partnerships between industry and government, Department of Trade and Industry deputy director general Lionel October said on Wednesday. Addressing delegates at the Manufacturing Indaba, in Sandton, he... 

There is hope for South Africa’s manufacturing sector – October
Photo by Creamer Media
DTI deputy director general Lionel October

Motsoaledi to unveil crucial health bills

By: News24Wire      Updated 4 hours ago Universal health care may become a reality as Health Minister Aaron Motsoaledi gears up to present two bills to the public on Thursday. The Medical Schemes Amendment Bill and the National Health Insurance Bill have the purpose of ushering in a set of health-financing reforms that aim to provide... 

Motsoaledi to unveil crucial health bills
Health Minister Aaron Motsoaledi

Current account deficit widens in Q1 as exports slump

By: Reuters     Updated 1 hour 1 minute ago South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

Poor people most vulnerable to climate change – economist

By: African News Agency      Updated 4 hours ago An estimated 20-million people will be pushed into poverty because of climate change in 2030, which may possibly rocket to more than 100-million people if speedy social developments are not conducted, an economist said on Wednesday. “We estimated that 20-million people will be pushed into poverty... 

Western Cape govt identifies 7 possible affordable housing sites

By: News24Wire      Updated 4 hours ago At least seven vacant plots have been identified as "possible sites for social and affordable housing" in Cape Town's southern suburbs, including Parkwood, Lotus River and Retreat. The announcement was made by Thando Mguli, head of the Western Cape Department of Human Settlements, GroundUp... 

Eskom wage negotiations enter final day

By: African News Agency      Updated 4 hours ago Wage negotiations between Eskom and trade unions will on Thursday enter the final day after workers rejected the 4.7% wage offer from the embattled power utility. Trade unions on Wednesday said they presented a consolidated wage proposal to Eskom as talks resumed for a second day this week after... 

Eskom wage negotiations enter final day

SANDF rifle linked to cash-in-transit heist, Minister Mapisa-Nqakula reveals

By: News24Wire      Updated 4 hours ago Some South African National Defence Force (SANDF) officials fall foul of the law by losing or stealing official firearms and ammunition, and at least one of these weapons has ended up being used during a cash-in-transit heist, Minister Nosiviwe Mapisa-Nqakula revealed this week. She was... 

Mondi says completes acquisition of Egypt's NPP in Egypt

By: African News Agency      Updated 4 hours ago Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis. NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into... 

Binding constraints affecting South Africa’s growth – Matona

By: Simone Liedtke     20th June 2018 There are binding constraints, including policy uncertainty, a regulatory environment that is not conducive to investment, and no sustained long-term partnerships between government and the industry, that are limiting South Africa’s growth potential, says National Planning Commission (NPC)... 

Education, NDP execution crucial in reaching development goals – Mohale

By: Simone Liedtke     20th June 2018 Out of the 400 South African companies listed on the JSE, only 212 have reported on their black economic empowerment (BEE) activities in the last two years, Business Leadership South Africa CEO Bonang Mohale said on Wednesday. National statistics, he highlighted during an address at the Vision... 

Education, NDP execution crucial in reaching development goals – Mohale
BLSA CEO Bonang Mohale

Gauteng aims for integrated public transport ticketing in 2020

By: Irma Venter     20th June 2018 Gauteng commuters should, in 2020, be able to use one card/ticket for all their public transport journeys, across all modes, such as rail and bus. Speaking at the i-Transport and UATP Go Green, Go Smart conference in Midrand on Wednesday, Gautrain Management Agency technical and project services... 

Basil Read applies for suspension of listing

By: Reuters     20th June 2018 South African construction firm Basil Read Holdings said on Wednesday it had applied to the Johannesburg Stock Exchange for the voluntary suspension of the listing of its shares after a key unit started business rescue proceedings. The cash-strapped company announced on Friday that Basil Read... 

Momentum in local procurement can bolster South African SMME growth

By: Schalk Burger     20th June 2018 While small, medium-sized and microenterprises (SMMEs) in South Africa do not contribute the equivalent proportion to employment or gross domestic product as those in developed countries, there are various initiatives that are helping to draw SMMEs into the formal sector and into larger supply... 

SMEs invited to apply for grant funding

By: Nadine James     20th June 2018 A new application round has opened for the R12.8-million Growth Fund to boost small and medium-sized enterprise (SME) growth and job creation. The Growth Fund is a grant fund specifically aimed at growing South African SMEs that need a cash injection to scale up their businesses and create jobs.   

S African automotive sector encouraged to embrace Fourth Industrial Revolution

By: Anine Kilian     20th June 2018 The automotive industry is undergoing tremendous transformation and change and there are various challenges that need to be addressed within South Africa’s automotive industry, African Innovators director Sherrie Donaldson said at the Manufacturing Indaba, in Sandton, on Wednesday. Speaking as... 

Cost competitiveness key for a thriving energy sector

By: Anine Kilian     20th June 2018 The number of power projects across Africa and South Africa has grown in the last few years and has given rise to many opportunities, but also challenges, Trade and Industrial Policy Strategies executive director Saul Levin said on Wednesday. Speaking at the Manufacturing Indaba, in Sandton, he... 

More calls for Eskom to be restructured

By: Marleny Arnoldi     20th June 2018 A South Africa-focused panel discussion at the Africa Energy Forum, in Mauritius, on Wednesday, concluded that while State-owned Eskom, as a dominant player in South Africa’s energy sector, needed to be restructured, so too did the energy industry as a whole. Panel moderator and publication house... 

Energy forum panelists reiterate need for regional integration in Africa

By: Marleny Arnoldi     20th June 2018 A panel of speakers at the 2018 Africa Energy Forum, in Mauritius, on Wednesday, agreed that Ministers of energy in Africa and other stakeholders should focus on regional power integration, and what would work accordingly, rather than debating country-specific suitable energy resources and... 

‘Prudent’ consolidation positions Accelerate for future growth – COO

By: Nadine James     20th June 2018 JSE-listed Accelerate Property Fund on Wednesday posted stable financial results for the year ended March 31, reporting a 57.56c a share distribution, in line with guidance. Since listing on the JSE in December 2013, the company’s portfolio has grown from about R5-billion to R12.3-billion,... 

Sephaku warns of lower FY earnings

By: Nadine James     20th June 2018 Sephaku Holdings on Wednesday advised shareholders that the company earnings for the 2018 financial year, ended March 31, are expected to be between 32% and 40% lower than the R68-million reported for 2017 financial year. Sephaku attributed the decrease in earnings to poor performances from its... 

Brand new equipment takes centre stage at Richards Bay Coal Terminal

By: Martin Creamer     Updated 14 minutes ago The first phase of the equipment replacement reached full swing at the Richards Bay Coal Terminal (RBCT) on Thursday when R1.34-million worth of brand new stacker reclaimers  and shiploaders went into official action at greater efficiency and improved turnaround times for coal exporters. The two... 

Brand new equipment takes centre stage at Richards Bay Coal Terminal
Photo by Martin Creamer
A new machine under official launch at the Richards Bay Coal Terminal

Cummins and Komatsu launch S Africa’s first TEC programme at Sedibeng TVET 

Updated 16 minutes ago Cummins Africa Middle East and Komatsu Africa have teamed up to bring the first Technical Education for Communities, or TEC, programme to South Africa. Natasha Odendaal tells us more. 

Cummins and Komatsu launch S Africa’s first TEC programme at Sedibeng TVET

Zambia aims for cost-reflective electricity prices by end-2018

By: Reuters     Updated 58 minutes ago Zambia plans to introduce electricity tariffs that reflect the cost of power production by the end of 2018 and move away from a flat tariff of 9.30 US cents/kilowatt hour for mining companies, a senior government official said on Thursday. The permanent secretary for energy Emelda Chola said in a... 

NGOs rate South Africa’s transition to a green economy at five out of ten

By: Nadine James     Updated 1 hour 21 minutes ago Nongovernmental organisations (NGOs) on Thursday released the findings of new research, which describes South Africa’s transition to a low-carbon, sustainable and inclusive future as “stuck in first gear”, with ambitious policies but slow implementation. The ‘South Africa Green Economy... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector

By: Nadine James     Updated 1 hour 27 minutes ago Chromium carbide (CrC) wear solutions provider Rio-Carb MD Martin Maine has identified a gap in the mining sector in the form of a lack of local beneficiation in the second-tier supply chain in the South African mining industry, and has commissioned academic research to establish how the country... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector
Rio-Carb MD Martin Maine

Globeleq-led consortium partners with EDM to progress Moz gas-fired power project

By: Nadine James     Updated 1 hour 47 minutes ago Lead partner in the Temane Energy Consortium (TEC), Globeleq, has signed a joint development agreement with Electricidade de Moçambique (EDM) to progress the 400 MW Temane gas-fired power project, located in Mozambique’s Inhambane province. The agreement, which was signed at the African Energy... 

For OPEC, oil tariff spat is short-term gain, long-term pain

By: Reuters     Updated 3 hours ago Opec, which has lost Chinese market share to US oil producers, should in theory view a tariff spat between Beijing and Washington as a boon. But while Opec can sell more oil to China as a result of import tariffs on US crude, in the long term the trade dispute could hit economic growth and oil... 

Zambia urges South African firms to invest in public projects

By: Reuters     Updated 3 hours ago Zambia's finance minister urged South African firms to invest in roads and power plants in Africa's No.2 copper producer after it suspended borrowing indefinitely, slowing down the accumulation of new debt amid worries about the risk of distress. The International Monetary Fund rejected Zambia's... 

Avocado 'green gold' ripe and ready for South Africa's farmers

By: Reuters     Updated 4 hours ago Whether you like to squash it onto your toast in the morning, millennial-style, eat it to cut your cholesterol with healthy unsaturated oil, or moisturise your face with it - if you live in the West, you're probably rarely far from an avocado. And that is very good news for South Africa's... 

S&P's doesn't see downside risks to South Africa's sovereign rating

By: Reuters     20th June 2018 S&P's Global Ratings does not see downside risks to South Africa's sovereign credit rating, its Africa regional manager said on Wednesday. "A stable outlook at this point signals to you the risks are not stacked on the downside (or) medium term ... unless obviously the situation would worsen... 

Mining charter, illegal mining, FDI in the spotlight  

20th June 2018 Mining Weekly editor Martin Creamer unpacks the news around the mining charter, illegal mining and FDI in the junior miners fund. 

Mining charter, illegal mining, FDI in the spotlight

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

Emission abatement technology could drive industrialisation – EPCM Global

By: Nadine James     20th June 2018 South African firm EPCM Global Engineering has partnered with Luxembourg-based Carbon Process & Plant Engineering (CPPE) to bring its emissions abatement technology to Africa, in a move that could spur industrialisation, says EPCM Global CEO Tumi Kgomo. He explains that the technology, which was... 

Trust in South African government dips, businesses most trusted - survey

By: News24Wire      20th June 2018 South Africans do not place much trust in their government. This is according to a new global survey that has placed the country at the bottom of a list of 28 countries that were surveyed. The 2018 Edelman Trust Barometer report measured the public's trust across four sectors – government,... 

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