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Audio Articles

Radebe insists IRP to be approved soon, amid Nedlac uncertainty 

By: Terence Creamer     Updated 2 hours 41 minutes ago Energy Minister Jeff Radebe has reiterated that Cabinet could soon approve the long-awaited update to South Africa’s Integrated Resource Plan (IRP) for electricity, despite persistent suggestions that National Economic Development and Labour Council (Nedlac) sign-off of the document is still... 

Radebe insists IRP to be approved soon, amid Nedlac uncertainty

Clough JV selected as preferred tenderer for civil works at Australian hydropower project 

By: Creamer Media Reporter      Updated 3 hours ago The Clough Salini Joint Venture (JV) has been selected as the preferred tenderer for about A$4-billion worth of civil works packages for the Snowy 2.0 project – a multiyear infrastructure project. Clough is a wholly owned subsidiary of Murray & Roberts and has a 35% shareholding in the JV. 

Aveng sells noncore Aveng Water business  

By: Tasneem Bulbulia     Updated 7 hours ago JSE-listed Aveng will sell Aveng Water and the Aveng Namibia Water business to Cambrose 735, a special purpose vehicle incorporated as a private company, Infinity Partners, for the purpose of the transaction, for R95-million. Infinity Partners is a 100% black-owned company jointly held by... 

Aveng sells noncore Aveng Water business

African entities urged to be proactive in growing the continent's economies  

By: Tasneem Bulbulia     17th January 2019 Africa is sitting on the financial periphery and the onus is on entities on the continent to take proactive measures to grow countries’ economies and drive market reforms, Deloitte Africa Emerging Markets MD Dr Martyn Davies said on Thursday. Speaking at the Deloitte Africa in 2019 Outlook... 

African entities urged to be proactive in growing the continent's economies
Deloitte Africa Emerging Markets MD Dr Martyn Davies outlines the strategy African entities should take this year to bolster economies on the continent. Video and editing: Nicholas Boyd.

Gautrain seeks ways to grow ridership as 2018 hits govt's pocket 

By: Irma Venter     17th January 2019 The patronage guarantee payable by the Gautrain Management Agency (GMA) to the Bombela Concession Company (BCC), as the Gautrain operator, has increased from R1.34-billion in the 2016/17 financial year, to around R1.5-billion for the 2017/18 financial year. GMA CEO Jack van der Merwe says the... 

Gautrain seeks ways to grow ridership as 2018 hits govt's pocket

Team SA to demonstrate country’s ‘stronger footing’ at this year’s WEF  

By: Tasneem Bulbulia     16th January 2019 Team South Africa will be taking a unified approach to this year’s edition of the World Economic Forum (WEF) and will convey the message that the country is on a stronger footing than it was last year, President Cyril Ramaphosa said during a pre-WEF breakfast, in Rosebank, on Wednesday. The... 

Team SA to demonstrate country’s ‘stronger footing’ at this year’s WEF
Photo by Creamer Media
President Cyril Ramaphosa

Trade conditions to remain subdued, warns Sacci 

By: Marleny Arnoldi     16th January 2019 The South African Chamber of Commerce and Industry’s (Sacci’s) trade conditions survey for December showed that activity had improved slightly on November, if adjusted for seasonal factors, while six-month prospects remained subdued. The seasonally adjusted Trade Activity Index (TAI) was at 47,... 

South Africa aims to finalise long-term energy plan next month – Radebe 

By: Reuters     16th January 2019 South Africa is aiming to finalise a long-term plan for the country's energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. "We are aiming for February," Radebe told Reuters, when asked when the... 

South Africa aims to finalise long-term energy plan next month – Radebe
Photo by Dylan Slater
Energy Minister Jeff Radebe

Electricity increases will badly hurt the poor, say community leaders, residents  

By: Kim Cloete     15th January 2019 Community and faith leaders, as well as pensioners and residents, have called on the National Energy Regulator of South Africa (Nersa) to oppose Eskom’s request for a tariff hike, with a projected overall increase of 45% to 2021. “If granted, this price increase will severely impact on all... 

Electricity increases will badly hurt the poor, say community leaders, residents

SAA appoints former prosecution chief to its group executive 

By: Rebecca Campbell     15th January 2019 Embattled State-owned flag-carrier South African Airways (SAA) announced on Tuesday that Advocate Vusi Pikoli had been appointed as the airline’s Chief Risk and Compliance Officer. He will take up the post on February 1. Pikoli is currently an advisor to the Minister of State Security. He was,... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa  

By: Reuters     15th January 2019 Investment bank Goldman Sachs said South Africa's rand could tumble 3.5% if State-run power utility Eskom suffers a major sell-off in its bonds, but it could also jump 4.5% if the firm's troubles improve. Goldman's analysts said an Eskom risk gauge used by the bank was now close to its most... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa

Eskom warns of 'debt trap' as it pleads for 15% hike  

By: Kim Cloete     14th January 2019 Eskom CEO Phakamani Hadebe has apologised for the severe predicament Eskom is in, but has pleaded for an electricity tariff increase of 15% over the next three years.   Hadebe made the call at the opening of public hearings into electricity tariffs held by the National Energy Regulator of South... 

Eskom warns of 'debt trap' as it pleads for 15% hike
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Denel reaffirms commitment to transformation  

By: Marleny Arnoldi     14th January 2019 State-owned arms manufacturer Denel on Monday reaffirmed the validity of its decision to appoint Daniel du Toit group CEO, after stakeholders raised concerns. Du Toit’s appointment was announced in December.  

Denel reaffirms commitment to transformation
Photo by Dylan Slater
Denel chairperson Monhla Hlahla

Agri-hub seen as key post-mining-economy jobs driver in west Gauteng  

By: Terence Creamer     14th January 2019 An ambitious plan to develop Gauteng’s West Rand into an agri-industrial hub, primarily producing high-value crops for domestic and export markets, is starting to take shape and is expected to be officially launched during the first quarter of 2019. The initiative has been branded ‘Bokamoso Ba... 

Agri-hub seen as key post-mining-economy jobs driver in west Gauteng
Photo by Sibanye-Stillwater
The programme is part of bigger plan to build a sustainable post-mining economy in the West Rand

AB InBev soars on possible IPO of Asian business 

By: Bloomberg     11th January 2019 Anheuser-Busch (AB) InBev's shares jumped the most since 2015 after people with knowledge of the matter said the world’s largest brewer is considering an initial public offering of its Asian operations as a way to unlock value after a string of acquisitions left it saddled with debt. The Leuven,... 

Cerba, Lancet are said to agree Africa deal for $123m 

By: Bloomberg     11th January 2019 Cerba HealthCare SAS, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for as much as 12.5-billion Kenyan shillings ($123-million), said a person familiar with the matter. Paris-based Cerba will hold a 51% stake... 

Cerba, Lancet are said to agree Africa deal for $123m

Ramaphosa calls on private sector to assist with fighting corruption  

By: News24Wire      11th January 2019 Corruption has become a big issue that has to be addressed by the whole nation, President Cyril Ramaphosa said on Thursday. Ramaphosa told business leaders at a meeting in the Pietermaritzburg City Hall, that a number of issues, especially corruption, were hampering economic development in the... 

Ramaphosa calls on private sector to assist with fighting corruption
President Cyril Ramaphosa

Manufacturing production up 1.6% y/y in November  

By: Tasneem Bulbulia     10th January 2019 Manufacturing production increased by 1.6% year-on-year in November, Statistics South Africa reported on Thursday. The largest positive contributions were made by the food and beverages; and motor vehicles, parts and accessories and other transport equipment sectors. 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans 

By: Simone Liedtke     10th January 2019 The joint business rescue practitioners (BRPs) of Optimum Coal Mine (OCM) and Koornfontein Mines (KFT) expect to convene meetings with creditors within the next few weeks to vote on the proposed business rescue plans for the mines. The meetings will take place once the BRPs have resolved... 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans

Second member resigns from Ramaphosa's Eskom task team 

By: News24Wire      10th January 2019 A second member of President Cyril Ramaphosa's task team on Eskom has stepped down, the Presidency spokesperson Khusela Diko confirmed to Fin24. Diko told Fin24 on Thursday via Whatsapp that Sy Gourrah of Actom had asked to leave the task team in December. 

 Second member resigns from Ramaphosa's Eskom task team

ABSA PMI ends 2018 on a positive note 

By: Simone Liedtke     9th January 2019 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ended 2018 on a positive note, reaching the best level of the year – 50.7 – in December. This was an improvement from the 49.5 recorded in November. 

ABSA PMI ends 2018 on a positive note

Hilux sales top 40 000 units, Suzuki, Bentley fly, Merc takes a knock 

By: Irma Venter     9th January 2019 The Toyota Hilux is yet again South Africa’s favourite vehicle, selling a whopping 40 018 units in 2018. This is up 10% on 2017 sales, at 36 422 units. 

Hilux sales top 40 000 units, Suzuki, Bentley fly, Merc takes a knock

Rand to weaken in volatile trade this year 

By: Reuters     9th January 2019 South Africa's rand will lose over 3% of its value in volatile trade against the dollar this year, a Reuters poll of market strategists found on Wednesday, but should be cushioned by wavering expectations for US interest rates. The health of the world's two biggest economies - the United States... 

Rand to weaken in volatile trade this year

Global economic growth to slow to 2.9% this year – World Bank 

By: Simone Liedtke     8th January 2019 Global economic growth is projected to soften from a downwardly revised 3% in 2018 to 2.9% this year amid rising downside risks to the outlook, the World Bank said on Tuesday. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging... 

Global economic growth to slow to 2.9% this year – World Bank
World Bank CEO Kristalina Georgieva

New-vehicle sales decline by 1% in 2018, exports at record high 

By: Irma Venter     8th January 2019 South African new-vehicle sales yet again retreated into negative territory in 2018, declining by 1%, to 552 190 units, down from the 557 703 units sold in 2017. The new-vehicle market in 2017 lifted its head by 1.9%, after spending the previous three years in the red. 

New-vehicle sales decline by 1% in 2018, exports at record high

Despite unsuccessful tender, Gautrain remains on the lookout for new trains 

By: Irma Venter     8th January 2019 An almost three-year tender process, initiated in February 2016, to secure additional train sets for the Gautrain system, has failed to deliver the desired results, with none of the three short-listed bidders producing a compliant bid. However, the Gautrain system remains in need of additional... 

 Despite unsuccessful tender, Gautrain remains on the lookout for new trains

NUM bemoans nonpayment of salaries to Optimum, Koornfontein employees  

By: Simone Liedtke     7th January 2019 The National Union of Mineworkers (NUM) on Monday expressed its dissatisfaction over the nonpayment of employees’ salaries at the Optimum and Koornfontein coal mines for the past two months. NUM members and other workers will be entering their third month without being paid salaries, NUM Highveld... 

Bloodhound record attempt back on track as new funder steps in 

By: Irma Venter     7th January 2019 The Bloodhound project to set a new world land-speed record is back on track. The Bloodhound Programme, the UK company behind the Bloodhound project, announced last year that it had been facing financial difficulties and that it had been put under administration. 

Bloodhound record attempt back on track as new funder steps in

Eskom is said to extend job cuts beyond top management tier  

By: Bloomberg     7th January 2019 Eskom Holdings will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce as South Africa’s cash-strapped power utility looks to cut costs, according to a person familiar with the plans. The state-owned company last month... 

Fixing State companies comes second to politics   

By: Bloomberg     19th December 2018 South Africa’s government is facing potentially unpopular decisions needed to fix state companies that are drowning in debt, bleeding cash and fettering the economy, that may alienate voters ahead of next year’s elections. So far, it’s shied away from hard choices. Companies such as power utility... 

Fixing State companies comes second to politics
Public Enterprises Minister Pravin Gordhan

No compliant bids received for additional Gautrain rolling stock  

By: Mariaan Webb     18th December 2018 It is back to the drawing board for the procurement of additional rolling stock for the Gautrain system, after the prequalified bidders’ submissions failed to meet procurement requirements. The three prequalified bidders – Bombardier Transport, CRRC E-Loco Supply and Egoli Rail Consortium... 

No compliant bids received for additional Gautrain rolling stock

Eskom debt swap not an option – Ramaphosa  

By: Reuters     14th December 2018 A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa's President Cyril Ramaphosa said on Thursday, adding there was a need to look at other options to shore up the company's balance sheet. Eskom, which has had to implement power cuts due to... 

Enforcing local procurement rules would help offset weak demand  

By: Terence Creamer     14th December 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) wants government to take decisive action in 2019 to ensure that departments and State-owned companies (SoCs) honour their obligations to purchase designated steel products from domestic manufacturers. The organisation is also... 

Enforcing local procurement rules would help offset weak demand
Seifsa CEO Kaizer Nyatsumba reflects back on 2018 and offer insight into prospects for the metals and engineering sector n 2019. Camera Work & Editing: Nicholas Boyd

Electric trucking no silver bullet, but pace of development picking up 

By: Irma Venter     14th December 2018 Perusing the floor of the 67th IAA commercial vehicle fair, held in Hannover, Germany, in September, it was clear that the electric truck (ET) is not just a passing fancy. Yes, the so-called electric revolution may not happen in the next year, and not yet for long-distance, heavy-duty deliveries,... 

Electric trucking no silver bullet, but pace of development picking up

Back to the future for Eskom as it seeks to plug 1.3bn ton coal hole 

By: Terence Creamer     13th December 2018 State-owned electricity producer Eskom is going back to the future as it seeks to close an estimated 1.3-billion ton coal shortfall that it calculates will arise over the remaining life of its coal-fired power station fleet. The shortfall calculation takes account of the decommissioning of the... 

Back to the future for Eskom as it seeks to plug 1.3bn ton coal hole
Photo by Dylan Slater
Primary energy division GM Dan Mashigo

Eskom signs R1.5bn AFD loan agreement  

By: Tasneem Bulbulia     13th December 2018 Eskom and Agence Française de Développement (AFD) on Thursday signed a R1.5-billion loan agreement to support the electricity utility’s investments in extending and strengthening its power transmission grid along the west coast of South Africa. This loan constitutes the first tranche of a... 

Group Five shares soar as other parties show an interest in buying parts of the business 

By: Simone Liedtke     13th December 2018 JSE-listed Group Five’s share price rose to 48c a share early on Thursday, compared with Wednesday’s close of 24c a share, after the company announced that it had received expressions of interest (EOIs) from a number of parties for various parts of the business. Group Five’s board of directors... 

Group Five shares soar as other parties show an interest in buying parts of the business

Government launches e-Recruitment system  

By: Tasneem Bulbulia     12th December 2018 The Department of Public Service and Administration (DPSA) has officially launched government’s e-Recruitment system, which enables job seekers to apply for positions in the public service through an online platform. The system was launched by Public Service and Administration Minister Ayanda... 

Government launches e-Recruitment system
Public Service and Administration Minister Ayanda Dlodlo
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