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Evidence of blatant corruption at Eskom unpacked at Parliament’s inquiry into State capture

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has kicked off its inquiry into alleged State capture with a report revealing “overwhelming evidence of grand corruption”, governance failure and a stream of irregularities at Eskom, South Africa’s largest State-owned entity. Research... 

Evidence of blatant corruption at Eskom unpacked at Parliament’s inquiry into State capture
Research professor Anton Eberhard

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has started its keenly awaited inquiry into allegations of State capture, with a warning that key witnesses will not be allowed to shy away from appearing before Parliament. “We have a right to subpoena a witness if we think that witness has... 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

Zwane to Parliament – Am I being investigated?

By: News24Wire      Updated 57 minutes ago "Am I being investigated? I need to know so that we can start dealing with facts and not allegations that are in the media." Those were the introductory remarks from Mineral Resources Minister Mosebenzi Zwane who is currently appearing before Parliament's portfolio committee on mineral resources... 

‘You are too late’ – Dames on State capture inquiry

By: News24Wire      Updated 51 minutes ago Former Eskom chief executive Brian Dames told Parliament’s State capture inquiry on Wednesday that while the process is a great move, it was too late. “You are too late,” he said. “You should have done this a long time ago.” 

‘You are too late’ – Dames on State capture inquiry
Photo by Duane Daws
Former Eskom CEO Brian Dames

11% of government departments may not be able to operate in future - AG

By: News24Wire      Updated 2 hours 25 minutes ago Auditor General Kimi Makwetu has revealed in Parliament that 11% of government departments face "material uncertainty" about their ability to continue operating in future. Makwetu was reporting before the Standing Committee on Public Accounts (Scopa), the Standing Committee on Appropriations, and... 

Malmström raises EU’s concern over South Africa's stance towards renewables IPPs

By: Terence Creamer     17th October 2017 European Commissioner for Trade Cecilia Malmström confirmed on Tuesday that she had communicated the European Union’s (EU’s) unhappiness over Eskom’s refusal to enter into contracts with renewable-energy independent power producers (IPPs), some of which are European, directly with the South... 

Malmström raises EU’s concern over South Africa's stance towards renewables IPPs

EU remains focused on progressive trade policies, transparency

By: Natasha Odendaal     17th October 2017 Transparency, as well as balanced, inclusive and progressive trade policies remain top priorities for the European Union (EU) Commission as it shifts its trade approach in an ever-changing world to harness globalisation fairly. In recent years, global trade has come under immense negative... 

EU remains focused on progressive trade policies, transparency
Photo by Bloomberg
European Union Commissioner for Trade Cecilia Malmström

Wilken to join MAS Real Estate as CEO

By: Anine Kilian     Updated 1 hour 4 minutes ago Morné Wilken has been appointed CEO of JSE-listed MAS Real Estate, effective January 1, 2018. Lukas Nakos will continue as CEO until Wilken takes up his position. 

Mango strike continues, Solidarity and airline resume wage talks

By: African News Agency      Updated 1 hour 1 minute ago Trade union Solidarity will on Wednesday return to the negotiating table with South African low-cost carrier, Mango Airline amid an ongoing pilots’ strike over wage hikes. Mango airline’s flight crews downed tools at 5 am on Monday morning after wage negotiations with Solidarity collapsed.... 

Nzimande axed in another Cabinet reshuffle

By: Anine Kilian     17th October 2017 President Jacob Zuma has again made changes to his Cabinet. The Presidency said in a statement on Tuesday that Professor Hlengiwe Mkhize has been appointed Higher Education and Training Minister, Ayanda Dlodlo as Home Affairs Minister, Mmamaloko Kubayi as Communications Minister, David Mahlobo as... 

Nzimande axed in another Cabinet reshuffle
Blade Nzimande

SARB cautious about more rate cuts

By: Reuters     17th October 2017 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

PIC has not ruled out investing in SAA

By: Reuters     17th October 2017 South Africa's Public Investment Corporation, one of the continent's largest asset managers, has not ruled out investing in struggling state-owned airline SAA, its chief executive said on Tuesday. "We are not closing the door on SAA," CEO Dan Matjila told parliament's finance committee, adding... 

PIC has not ruled out investing in SAA

Ramaphosa applauds Safcec’s efforts to transform the country’s built environment

By: Anine Kilian     17th October 2017 Deputy President Cyril Rampahosa has lauded the South African Forum of Civil Engineering Contractors (Safcec) for partnering with government to transform the country’s built environment. “I applaud the forum for leading the voluntary rebuilding programme, which led to a landmark agreement with... 

Van market retreats as economy takes toll on small businesses, households

By: Irma Venter     17th October 2017 The total South African new van market currently ranges between 19 000 and 20 000 units a year, estimates Mercedes-Benz Vans Southern Africa VP Nadia Trimmel. “Historically, the market used to be between 22 000 and 23 000 units, but this year we do not expect it to break 20 000. The general... 

Van market retreats as economy takes toll on small businesses, households
The Sprinter

Defence and security industries need to work together – Armscor CEO

By: Keith Campbell     17th October 2017 In his address to South Africa's first Homeland Security Conference, in Pretoria, on Tuesday, Armscor CEO Kevin Wakeford highlighted that it marked the first time that the defence and security industries were "sitting together". He asserted that the two sectors needed to work together. "We've got... 

New border agency should have own budget, needs local technology – Mapisa-Nqakula

By: Keith Campbell     17th October 2017 South Africa's soon-to-be-created Border Management Authority (BMA) will "hopefully" be funded by a new budget line, Defence and Military Veterans Minister Nosiviwe Mapisa-Nqakula told Engineering News Online on the fringes of the the Homeland Security Conference 2017, in Pretoria on Tuesday. "It... 

McKinsey 'embarrassed' by failings in South Africa scandal

By: Reuters     17th October 2017 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

NUM members down tools at PPC Cement over wages

By: African News Agency      17th October 2017 The National Union of Mineworkers (NUM) said that its members at South Africa’s leading supplier of cement and related products, PPC Cement Slurry in Mafikeng, North West, have embarked on a strike over wages. This comes after the NUM gave PPC Cement a notice to strike on Sunday last week and... 

Renergen interim losses widen

By: Anine Kilian     17th October 2017 JSE-listed alternative energy company Renergen expects to report a loss a share and headline loss a share of between 19.85c and 22.39c for the six months ended August 31. This reflects a 56% to 76% widening on the 12.73c loss a share and headline loss a share for the first half of the prior... 

Clover appoints CFO designate

By: Anine Kilian     17th October 2017 Frantz Scheepers has been appointed CFO designate of JSE-listed Clover, effective November 1. He will succeed current CFO Elton Bosch. 

Europe aviation agency advises suspending use of Kobe Steel products

By: Reuters     Updated 40 minutes ago Europe's aviation regulator has advised aircraft manufacturers to suspend using parts from Kobe Steel until their legitimacy can be proved, following revelations about data cheating at the Japanese company. The European Aviation Safety Agency (EASA) said the concern was not serious enough at this... 

China's CEFC eyes big league with Rosneft oil offtake deal

By: Reuters     Updated 2 hours 40 minutes ago As part of its recent $9.1-billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260 000 bbl/d of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world's top crude... 

Zambia energy regulator hikes fuel price for retail consumers

By: Reuters     17th October 2017 Zambia announced an increase in the retail price of fuel on Tuesday, citing rising international oil prices and depreciation of the kwacha. The pump price of petrol would be increased to 12.97 kwacha per litre from 11.67 kwacha, while that of diesel would rise to 11.09 kwacha per litre from 9.87... 

Citing data scandal, local govt delays Kobe Steel coal plant assessment

By: Reuters     17th October 2017 Japan's Kobe Steel, embroiled in a data falsification scandal in its metals business, was dealt a fresh blow as a local government suspended an environmental assessment of its plans to build a large coal-fired plant on the site of an old steelworks. The government of Hyogo in western Japan, where... 

China factories grapple with soaring prices as pollution crackdown bites

By: Reuters     17th October 2017 Chinese exporters at the country's biggest trade fair are more optimistic about global demand now than six months ago but Beijing's crackdown on pollution is ramping up costs and product prices, hurting smaller factories and foreign buyers. At the Canton Fair where some 25 000 manufacturers are... 

Airbnb injects $1m to boost community-led tourism projects in Africa

By: African News Agency      17th October 2017 Peer-to-peer property rental accommodation platform Airbnb on Tuesday announced that it will invest $1-million through 2020 to promote and support community-led tourism projects in Africa. Airbnb said this commitment is part of its vision to empower communities through home sharing and to promote... 

Cabinet reshuffle about consolidating Zuma’s power – Vavi

By: African News Agency      17th October 2017 President Jacob Zuma’s latest Cabinet reshuffle was a self-serving bid to consolidate power with a view to the ruling party’s elective conference, with no consideration for the good of the country, trade union leader Zwelinzima Vavi said on Tuesday. “It is about Jacob Zuma first and the country... 

Cabinet reshuffle about consolidating Zuma’s power – Vavi
Photo by Duane Daws
SAFTU SG Zwelinzima Vavi

Rand drops on Zuma's suprise 'pro-nuclear' Cabinet reshuffle

By: News24Wire      17th October 2017 The rand lost more than 0.5% within minutes of President Jacob Zuma's announcement of yet another surprise Cabinet reshuffle. The biggest move is that of energy - Mmamoloko Kubayi has been moved from the energy portfolio to communications, with David Mahlobo now occupying the position of Minister... 

 Rand drops on Zuma's suprise 'pro-nuclear' Cabinet reshuffle

PRASA says it’s on top of security problems

By: News24Wire      17th October 2017 The Passenger Rail Agency of South Africa (PRASA) has responded to the damning letter written by Ernest Hendricks, regional security manager of the Western Cape. In the letter, dated 31 May and addressed to PRASA's head office in Pretoria, Hendricks described problems with the security system,... 

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

By: News24Wire      17th October 2017 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      17th October 2017 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... 

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... 

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... 

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

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.

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

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. 

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

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