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Eskom seeks urgent relief against regulator’s latest ruling to ‘avoid financial disaster’ 

By: Terence Creamer     11th October 2019 State-owned electricity utility Eskom will apply for urgent interim relief against the National Energy Regulator of South Africa’s most recent tariff determination, which it is taking on legal review, arguing that such relief is required to “avoid financial disaster”. The legal action follows... 

Eskom seeks urgent relief against regulator’s latest ruling to ‘avoid financial disaster’
Photo by Creamer Media's Dylan Slater
Eskom CFO Calib Cassim

Denel winds up Aerostructures 

By: Reuters     11th October 2019 Denel is winding up its struggling Aerostructures aircraft parts business after receiving government approval, the state arms company said on Friday. Denel, a cornerstone of South Africa's once-mighty defence industry, is battling to emerge from a financial crisis and has pledged to shutter... 

Denel winds up Aerostructures

Omnia seeks to reset course as it emerges from financial distress

By: Terence Creamer     11th October 2019 JSE-listed Omnia, best known for the production of fertilisers, explosives and specialty chemicals, expects a strategic review of the business to be completed during the first quarter of 2020. The outcome of the review could result in the sale of certain product lines or units, as well as the... 

Omnia seeks to reset course as it emerges from financial distress
Omnia CEO Seelan Gobalsamy

Busa applauds US for sanctions against the Guptas

By: Sane Dhlamini     11th October 2019 Business body Business Unity South Africa (Busa) on Friday welcomed the US Treasury announcement of sanctions against the wealthy fugitive Gupta family. Yesterday the US Treasury sanctioned three members of the Gupta family, friends of former South African President Jacob Zuma who are accused of... 

Busa applauds US for sanctions against the Guptas
Busa president Sipho Pityana

EOH pursues criminal charges against former employees implicated in alleged corruption

By: Tasneem Bulbulia     11th October 2019 Law firm ENSafrica has assisted information technology services company EOH in initial criminal charges against former employees implicated in alleged wrongdoing. JSE-listed EOH in July reported that preliminary findings of a forensic investigation undertaken by ENSafrica had uncovered... 

Cell C puts assets up for sale as losses deepen

By: Bloomberg     11th October 2019 South Africa’s third-biggest mobile operator has put core parts of the business up for sale as it struggles with R9-billion of debt and deepening losses. Cell C’s fiber-optic network and base of billed customers are up for grabs, according to people familiar with the matter. The carrier is also... 

Leading bus company makes case for greater State support as urbanisation accelerates

By: Irma Venter     11th October 2019 It would probably be fair to say that Golden Arrow Bus Services (GABS) has seen the best and worst the South African transport industry has to offer. The company this year celebrates its 158th birthday, with its roots tracing back through an unbroken chain of acquisitions and mergers to the very... 

Leading bus company makes case for greater State support  as urbanisation accelerates

Seifsa president reflects on ongoing challenges in metals sector

By: Tasneem Bulbulia     11th October 2019 Steel and Engineering Industries Federation of Southern Africa (Seifsa) president and board chairperson Elias Monage on Friday reiterated the challenges facing South Africa's metals and engineering sector, as well as the broader economy. In a copy of an address delivered by Monage during a Seifsa... 

Seifsa president reflects on ongoing challenges in metals sector
Photo by Creamer Media's Dylan Slater
Seifsa president Elias Monage

Makhura appoints new Economic Development MEC

By: African News Agency      11th October 2019 Gauteng Premier David Makhura on Friday announced changes to his executive council, replacing Dr Kgosientso Ramokgopa who was MEC for Economic Development, Agriculture and Environment with Morakane Mosupyoe. "Following consultation within the ANC [African National Congress] structures and the... 

2019 Steel Awards showcases greater diversity

By: Simone Liedtke     11th October 2019 The South African Institute of Steel Construction (Saisc) Steel Awards attracted not only a record number of entries and sponsors this year, but also greater diversity, CEO Paolo Trinchero says. He points out that this year’s entries encompass a wider range of stakeholders in the greater built... 

Jasco’s full-year losses widen

By: Creamer Media Reporter      11th October 2019 JSE-listed Jasco on Friday reported a widened loss and headline loss a share for the financial year ended June 30. The group’s loss for the year attributable to ordinary shareholders widened to R29.1-million during the year under review, from a loss of R7.7-million in the prior financial year. 

AfDB partners with Senegal to host 2021 World Water Forum

By: Natasha Odendaal     11th October 2019 The African Development Bank (AfDB) has partnered with Senegal to host the world’s largest international water-related event, in Dakar, in March 2021. As the preparations for the ninth World Water Forum continue, the bank will play an important role in supporting the hosting of the forum, said... 

MTN appoints new CEO for Côte d’Ivoire subsidiary

By: Natasha Odendaal     11th October 2019 JSE-listed MTN on Friday said MTN Congo Brazzaville CEO Djibril Ouattara has been appointed as MTN Ivory Coast CEO, effective November 1. He will succeed Freddy Tchala, who left the post in September. 

Swiss Airlines shows off revamped Airbus A340

By: Tasneem Bulbulia     11th October 2019 Swiss International Airlines is providing enhanced customer benefits and traveller comforts for South African passengers travelling to Zurich on its newly revamped Airbus A340. The company on Friday gave a media tour of one of its revamped A340s, at OR Tambo International Airport. 

Swiss Airlines shows off revamped Airbus A340

Allmech’s Benoni-built electrode boilers exceed import quality

By: Tracy Hancock     11th October 2019 Benoni-based boiler manufacturer Allmech has produced its electrode boiler range since the late 1990s and, over the years, has developed different models to suite clients’ needs. “The Allmech Electrode Boiler range is our most successful locally manufactured product. It is a clean alternative... 

Allmech’s Benoni-built electrode boilers exceed import quality

Opinion: Curse of the anointed successor

By: Martin Zhuwakinyu     11th October 2019 Botswana nationals go to the polls in less than a fortnight to elect local government representatives and Parliamentarians. Bar a near miss in 2014, the Botswana Democratic Party (BDP) has comfortably won each election since attaining independence from Britain in 1966. But, this time around, it’s... 

Opinion: Curse of the anointed successor

35 cities unite for clean air

By: Tasneem Bulbulia     11th October 2019 The mayors of 35 cities across the world have pledged to deliver clean air for the more than 140-million people that live in their cities, through the signing of the C40 Clean Air Cities Declaration. The pledge, unveiled on Friday at the C40 World Mayors Summit in Copenhagen, commits cities to... 

Regulators’ 737 Max approval faulted by international experts

By: Bloomberg     11th October 2019 US aviation regulators assessing Boeing’s 737 Max sometimes didn’t follow their own rules, used out-of-date procedures and lacked the resources and expertise to fully vet the design changes implicated in two fatal crashes, a review panel comprised of global aviation experts has concluded. The... 

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      11th October 2019 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

Lack of funds means South Africa can’t stop sewage polluting dam

By: Bloomberg     11th October 2019 South African troops suspended work to rehabilitate the water system that serves the nation’s richest province because of a lack of funds. President Cyril Ramaphosa declared the sewage problem in the Vaal River system a national crisis in October last year and authorized the deployment of the... 

Nigeria's State oil company signs $2.5bn prepayment deal for gas projects with NLNG

By: Reuters     11th October 2019 State oil company Nigerian National Petroleum Corp (NNPC) on Friday said it had signed a $2.5-billion prepayment agreement with Nigeria LNG (NLNG) for upstream gas development projects. NLNG, which produces liquefied natural gas (LNG) for export, is owned by state-run Nigerian National Petroleum... 

Eskom board must be removed – Cosatu

By: African News Agency      11th October 2019 The board of directors at power utility Eskom should be removed for failing to fix problems at the State-owned enterprise, the Congress of South African Trade Unions has said. Eskom reported a R21-billion loss and over R440-billion in debt and on Wednesday board chairperson and acting CEO Jabu... 

 Eskom board must be removed – Cosatu

Jacob Zuma to stand trial for corruption  

By: News24Wire      11th October 2019 Former president Jacob Zuma is expected to be tried on 18 charges of fraud, corruption, money laundering and racketeering next week.  This is after the KwaZulu-Natal High Court in Pietermaritzburg handed down judgment on Friday, in the stay of prosecution application which Zuma and his... 

Eskom says energy regulator's March decision on tariffs has worsened financial sustainability

By: African News Agency      11th October 2019 The National Energy Regulator of South Africa's (Nersa's) decision in March to award State-owned power utility Eskom lower tariff increases than it had applied for, leaving it with a shortfall of approximately R102-billion, has worsened its financial sustainability, the company said on Friday.... 

Eskom says energy regulator's March decision on tariffs has worsened financial sustainability

US Treasury sanctions Gupta family, associate over South Africa graft

By: Reuters     11th October 2019 The US Treasury on Thursday sanctioned three members of the Gupta family, friends of former South African President Jacob Zuma who are accused of influence-peddling, and their business associate for their involvement in alleged corruption. The three Gupta brothers are accused in South Africa of... 

Construction on Rea Vaya’s Selby depot progressing

By: Tasneem Bulbulia     10th October 2019 The Johannesburg Development Agency (JDA) is making progress with the construction of the Rea Vaya bus rapid transit’s (BRT’s) Selby bus depot, in the Johannesburg central business district (CBD). The depot will be used for Phases 1A and 1B of the Rea Vaya BRT. 

Construction on Rea Vaya’s Selby depot progressing
Photo by Creamer Media's Tasneem Bulbulia
Construction is progressing well

SAA denies maintenance division uses fake parts when servicing aircraft

By: Simone Liedtke     10th October 2019 South African Airways (SAA) on Thursday denied that the airline’s maintenance division SAA Technical (SAAT) used fake parts when servicing aircraft belonging to SAA subsidiary Mango Airlines, or any of the other airlines it services. The statement follows a Sunday Times story headlined “Jet scare... 

Agri SA, Minister agree on need for partnerships to advance growth 

By: Marleny Arnoldi     10th October 2019 With stagnant economic growth and an unemployment rate of about 29%, the pressure is increasing on the agricultural sector to contribute more to gross domestic product (GDP) and live up to its potential in the country. However, the sector is facing its own challenges, including policy... 

Agriculture Minister Thoko Didiza discusses what the sector needs to grow and Agri SA president Dan Kriek shares his view on land reform policy

Ramaphosa to appoint two further councils to help address country's developmental challenges

By: Thabi Madiba     10th October 2019 President Cyril Ramaphosa on Wednesday said he will soon be appointing two further councils – the Investment Advisory Council and the State-Owned Enterprises Council (SOEs) ­– which will assist in meeting the developmental needs of the country. Ramaphosa was addressing the first meeting of the... 

Ramaphosa to appoint two further councils to help address country's developmental challenges
Presidential Economic Advisory Council

Equites’ distributable earnings rise in interim period

By: Simone Liedtke     10th October 2019 Real estate investment trust (Reit) Equites Property Fund achieved a 31.1% year-on-year increase in distributable earnings for the six months ended August 31. On a per-share basis, dividends increased by 9.3% to 74.43c, compared with 68.12c in the prior comparative period. 

Ramaphosa pours cold water on South African power-plant sale

By: Bloomberg     10th October 2019 South African President Cyril Ramaphosa poured cold water on proposals by his Finance Minister Tito Mboweni that State power utility Eskom Holdings sell some of its power plants to help settle its debt. “South Africa is not inherently in the business of selling power stations,” Ramaphosa told... 

Professional registration, transformation lagging in architectural industry

By: Marleny Arnoldi     10th October 2019 The South African Council for the Architectural Profession (Sacap) has approached the Council for Scientific and Industrial Research (CSIR) to help it understand why many people who obtain academic qualifications in architecture do not become registered professionals. Speaking on the occasion of... 

Manufacturing contracts for third month in August 

By: Bloomberg     10th October 2019 South African factory output shrank for a third straight month in August. Manufacturing production declined 1.8% from a year earlier, compared with a revised 0.7% drop in July, Pretoria-based Statistics South Africa said Thursday in a report on its website. The median estimate of 11 economists in... 

Manufacturing contracts for third month in August

Mondi to reorganise into four business units

By: Tasneem Bulbulia     10th October 2019 Packaging and paper group Mondi plans to reorganise the business across four units, namely Corrugated Packaging, Flexible Packaging, Engineered Materials and Uncoated Fine Paper. It noted in a trading update published on Thursday that the reorganisation would further strengthen its value chain... 

Honeywell advances STEM awareness amid engineer shortage in S Africa

By: Marleny Arnoldi     10th October 2019 Commercial products, aerospace systems and engineering services provider Honeywell has noted a decline in the number of engineers across multiple fields in South Africa, mostly owing to a lack of interest in pursuing these careers at school level. The company, in partnership with the Gauteng... 

Gauteng can build an economy around transport, says MEC Mamabola 

By: Irma Venter     10th October 2019 With Johannesburg no longer the city of gold, Gauteng has to develop a new economic plan for the future, says Gauteng Transport and Roads MEC Jacob Mamabola. “Smart mobility can be one of the biggest next economies of Gauteng. I think we can reposition transport . . . build an economy around... 

Gauteng can build an economy around transport, says MEC Mamabola

Sars damage worse than Nugent report suggests: Kieswetter

By: African News Agency      10th October 2019 The damage inflicted on the South African Revenue Service (Sars) while the organisation was politically corrupted was far worse than a reading of the Nugent report suggested, Sars commissioner Edward Kieswetter said on Wednesday. Responding to questions from members of parliament's standing... 

PPC says CFO Ramano to step down

By: Reuters     10th October 2019 South African construction materials firm PPC said on Thursday that CFO Tryphosa Ramano, who was also an executive director, would step down on October 31. Ronel van Dijk had been appointed as interim CFO and as an executive director with effect from November 1 until a permanent CFO is appointed,... 

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