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Apr 29, 2016
Mzwandile Masina
The Department of Trade and Industry (DTI) has invited companies to participate in a trade and investment mission to Ghana and Nigeria from August 8 to 12.   Companies in the agriculture and agroprocessing sectors, built environment professionals, automotive and...
Apr 29, 2016
Cabinet has approved the Industrial Policy Action Plan (Ipap) 2016/17 to 2018/19, which seeks to achieve a higher-impact industrial policy in difficult economic circumstances, including the difficulties faced by the domestic steel industry and the drought which has...
Apr 29, 2016
South Africa's trade balance swung to a R2.92-billion ($206.10million) surplus in March from a revised R1.27-billion deficit in February, the national revenue agency said on Friday. Exports were up by 6.3% to R96.13-billion on a month-on-month basis, while imports...
Apr 29, 2016
South Africa's rand extended its gains against dollar on Friday to hit a five-month high after a court ruled that a 2009 decision to drop 783 corruption charges against President Jacob Zuma was irrational and should be reviewed. The rand hit a high of 14.1650 per...
Apr 29, 2016
Atul Gupta
Cabinet expects to get a report on the ANC’s internal investigation into allegations that the Gupta family are influencing government decisions within a fortnight, Minister in the Presidency Jeff Radebe said on Friday. “There is a process taking place from the ANC’s...
Apr 29, 2016
Jacob Zuma
South Africa's High Court on Friday ruled that a 2009 decision to drop 783 corruption charges against President Jacob Zuma should be reviewed, another setback for the scandal-ridden leader, who faces calls for his resignation. The decision to set aside the charges...
Apr 29, 2016
Cabinet has extended the contract of director general of finance Lungisa Fuzile for another five years, Minister in the Presidency Jeff Radebe said on Friday. The renewal of Fuzile’s contract was reported to hang in the balance after President Jacob Zuma reshuffled...
Apr 29, 2016
OLKARIA GEO THERMAL The largest geothermal power plant in the world is located in Kenya, Africa
Economic growth in Africa is expected to average over 4% in the next five years, according to accountancy and finance body the Institute of Chartered Accountants in England and Wales (ICAEW).
Apr 29, 2016
Apr 29, 2016
Apr 29, 2016
Apr 29, 2016
 
 
 
Apr 29, 2016
The success of the Department of Energy’s (DoE) Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) is a shining example of South Africa’s ability to undertake large infrastructure programmes to boost the local economy, despite the current...
Apr 29, 2016
South African power solution and data centre specialist Master Power Technologies last month opened a branch in Windhoek, Namibia, as part of its growth strategy in Africa. The new office complements the Master Power branches successfully operating in Kitwe and...
Apr 28, 2016
In an attempt to maintain a pro-poor stance on public spending aimed at improving social development, the City of Ekurhuleni will inject R3.5-billion of its 2016 budget for into its community empowerment package, Mintirho Ya Vula Vula. Tabling the budget vote for the...
Apr 28, 2016
African private equity firms cashed in on investments last year at the highest rate in almost a decade, with South Africa, Egypt, Nigeria and Kenya accounting for two-thirds of these exits. Equity firms sold investments in 44 companies in 2015, compared to 39...
Apr 28, 2016
Transnet’s Phelophepa I and II healthcare trains are on track to reach their 12-millionth patient by the end of September, Transnet chairperson Linda Mabaso reports. To date, the ‘clinics-on-wheels’ have reached a combined 11.7-million patients since inception in...
Apr 28, 2016
The embattled South African Post Office (Sapo) is near to raising R2.7-billion in capital from the likes of banks, says chief executive officer Mark Barnes. Sapo has suffered years of maladministration with the state-owned entity recording a R1.5-billion loss in...
Apr 28, 2016
Transnet CEO Siyabonga Gama
State-owned freight logistics group Transnet is taking aim at new sectors, such as fast-moving consumer goods (FMCG) and manufacturing, as it seeks to sustain volumes amid the prevailing commodity “meltdown”. Speaking publically for the first since his appointment as...
Apr 28, 2016
Steady appreciation in international petroleum prices during April has brushed aside gains in the rand/dollar exchange rate, setting the stage for more fuel price hikes in May, the Automobile Association (AA) cautioned on Thursday. This view is based on unaudited...
Apr 28, 2016
The railways sector and government have agreed to the creation of a framework to improve the monitoring and implementation of localisation commitments associated with multibillion-rand investments being undertaken by both Transnet and the Passenger Rail Agency of...
Apr 27, 2016
South Africa is likely to be the worst performer in sub-Sahara Africa (SSA) with a projected gross domestic product (GDP) expansion of 0.7% this year. This is according to the latest outlook for the region by FocusEconomics.
 
 
 
 
Apr 26, 2016
The World Bank does not expect the recent rise in platinum prices to be sustained for the full year, with its latest ‘Commodity Markets Outlook’ report forecasting a 10% year-on-year price decline in 2016. The report, released on April 26, notes that precious metals...
Apr 26, 2016
Article contains comments
Public Enterprises Minister Lynne Brown
Government needs to retain its ownership of state-owned companies to ensure economic growth and create employment for generations to come, said Public Enterprises Minister Lynne Brown. In her budget speech for the 2016-17 financial year, Brown emphasised that South...
Apr 26, 2016
There is little hope that South Africa’s manufacturing, mining, electricity, construction and transport sectors will create jobs unless commodity prices strengthen, economist Mike Schüssler asserted on Tuesday. Speaking at an event hosted by union Uasa, he stated...
Apr 26, 2016
Solidarity CEO Dirk Hermann
With South Africa facing a direct “jobs bloodbath”, the peripheral consequences in the wake of the retrenchment of some 60 000 workers would be five times the impact expected, a new report by trade union Solidarity revealed on Tuesday. The current pattern and wave of...
Apr 26, 2016
Article contains comments
Public Enterprises Minister Lynne Brown
Opposition parties on Tuesday laid into Public Enterprises Minister Lynne Brown for allowing the controversial Gupta family to infiltrate South Africa’s State-owned companies. In her budget speech for the 2016-17 financial year, Brown said the government needs to...
Apr 26, 2016
A total of 143 720 new land claims had been lodged across South Africa by the end of March 2016, Chief Land Claims Commissioner Nomfundo Ntloko-Gobodo said on Tuesday. Of those, around 27 696 were lodged with the help of officials who used mobile offices to reach...
Apr 26, 2016
Article contains comments
Public Enterprises Minister Lynne Brown argued in Parliament on Tuesday that, as a 60% offtaker of coal in South Africa, Eskom should be in a position to command better coal prices and lamented the fact that the State-owned utility’s coal costs were rising at levels...
Apr 26, 2016
South Africa could be losing as much as R80-billion rand a year through illicit financial outflows, State Security Minister David Mahlobo said on Tuesday. “In the past year we identified global illicit financial flows as a major security concern that knows no...
Apr 26, 2016
Article contains comments
CEOs and business leaders working with government to foster inclusive growth have made significant progress in identifying new areas for investment and job creation, including the design of a funding instrument for investing in high-growth small and medium-sized...
Apr 26, 2016
Former President Thabo Mbeki
In what seemed to be a veiled reference to President Jacob Zuma, former president Thabo Mbeki has said the country’s interests needed to come before those of an individual. A national dialogue was needed to deal with the country’s problems. People needed to discuss...
 
 
 
 
Apr 26, 2016
Hundreds of workers from Gupta family-owned Oakbay Investments will on Tuesday march to the banks in an effort to save their jobs. The operations of Oakbay were thrown into jeaopardy after South Africa’s four main banks closed accounts of businesses owned by the...
Apr 25, 2016
Despite a decrease in appetite for emerging-market assets in recent months – owing to the current drought, commodity exposure and the global economy’s risk aversion – there remains a fair amount of activity within the local mergers and acquisitions (M&A) market, as...
Apr 25, 2016
Home Affairs DG Mkuseli Apleni
Both the Home Affairs department and visa application service company VFS have denied any links to President Jacob Zuma's son Duduzane and Rajesh Gupta following claims made by the Democratic Alliance last week. The department's director general Mkuseli Apleni told...
Apr 25, 2016
Labour Minister Mildred Oliphant
With the transformation of the top companies in the private sector significantly less advanced than in the public sector, Labour Minister Mildred Oliphant on Monday warned companies to pull up their socks or face penalties under the Employment Equity Act. The...
Apr 25, 2016
There are ways SA could avoid a ratings downgrade to junk status and turn the tide on the decline, according to Lesiba Mothata, chief economist at Investment Solutions. He pointed out that about $1.1-trillion left emerging markets (EMs) between the fourth quarter of...
Apr 22, 2016
Apr 22, 2016
Mcebisi Jonas
Deputy Finance Minister Mcebisi Jonas has warned of the nefarious impact patronage networks could have on the South African state in an article penned for the weekly South African Communist Party newsletter Umsebenzi. Jonas begins the article by stating debates on...
Apr 22, 2016
Agriculture Minister Senzeni Zokwana
South Africa's agriculture minister on Friday warned businesses suspected of profiteering from a drought by raising the prices of staples such as bread would face the wrath of competition authorities. The worst drought in a century has seen food prices soar,...
Apr 22, 2016
Article contains comments
SARB governor Daniel Mminele
South Africa's central bank is worried that a sharp weakening of bonds and pending ratings decisions could badly affect investor sentiment towards the country while increasing the cost of funding government debt. South African Reserve Bank's Deputy Governor Daniel...
Apr 22, 2016
Ebrahim Patel
Economic Development Minister Ebrahim Patel has welcomed the R1 billion of investment in South Africa to realise localisation as part of AB Inbev's offer to buy rival brewer SABMiller. “This is the largest financial commitment yet by a company in merger proceedings...
 
 
 
 
Apr 22, 2016
INVESTMENT NEED Mozambique is in the process of revitalising its economy, focusing on priority areas, such as agriculture, energy and infrastructure
The African Development Bank Group (AfDB) has affirmed its commitment to continue supporting the growing Mozambique economy, particularly regarding the country’s energy, agriculture and infrastructure sectors. Leading a team of senior staff to Maputo earlier this...
Apr 22, 2016
The International Air Transport Association (IATA) has reported that the results for the world’s airlines for the fourth quarter of last year showed an improved financial performance, for all regions except Latin America, in comparison with the fourth quarter of...
Apr 22, 2016
Newly established renewable energy special-purpose acquisition company (Spac) Hulisani listed on the main board of the Johannesburg Stock Exchange (JSE), earlier this month, taking advantage of investor demand for energy assets in South Africa and Africa. Company CEO...
Apr 22, 2016
Financial lending to the public sector, namely municipalities, for investment in infrastructure projects requires lenders to investigate and determine the future bankability of such projects and calculate risk in terms of municipalities being able to repay the loans.
Apr 21, 2016
Tshwane’s economy is performing better than the country as a whole, Mayor Kgosientso Ramokgopa said on Thursday. Following slow global growth in 2015, growth prospects across the globe remained subdued. The IMF had adjusted South Africa’s growth forecast down to...
 
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