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Dec 18, 2014
Lumwana, Zambia
Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s...
Dec 12, 2014
Responding to “critical diagnostic data” provided by the Annual National Assessment (ANA) tool, which was introduced in 2010 to evaluate the standard of education in South Africa, President Jacob Zuma has acknowledged low levels of academic performance in...
Dec 12, 2014
Power cuts on Friday were unlikely as the national power grid was doing well, Eskom said. "There is a low probability of load shedding today. The grid is in good shape and unless something happens, the power will be fine," Eskom spokesman Andrew Etzinger said.
Dec 12, 2014
FAZEL MOOSA The benefit of any form of infrastructure is the value that it adds to the community around it
Financial services provider Investec says it has gained invaluable experience through its funding of a Mozambican power generation project, the Kuvaninga Energia project, which reached financial close in December 2013 and is scheduled for commercial operation in the...
Dec 12, 2014
About 40% of global small and medium-sized enterprises (SMEs) do not perceive Africa as a growth opportunity, despite the positive economic growth stories and growing middle class in the region, says Economist Intelligence Unit (EIU).
Dec 12, 2014
VALVES Importing companies account for about 80% of the jobs in the valves industry
Local valve importer CMO Africa says the government regulation, which stipulates that 70% of valves used in State projects be manufactured in-country, will lead to the demise of the valves import industry. CMO Africa MD Mark Bowden told Engineering News at the Mining...
Dec 12, 2014
The Deutsche Bank South Africa Foundation launched its Born To Be programme in Sophiatown, Johannesburg, last month to help tackle youth unemployment in South Africa.
Dec 12, 2014
The graduation of 85 employees of State-owned logistics company Transnet Freight Rail (TFR) in rail sciences planted the seeds for future rail industry growth and formed an integral part of TFR’s R201-billion rail infrastructure roll-out plans, Transnet CEO Brian...
Dec 11, 2014
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Dec 11, 2014
Dec 11, 2014
Dec 11, 2014
 
 
 
Dec 11, 2014
The International Monetary Fund (IMF), which expects the South African economy to grow by only 2.1% in 2015, warns that even this “lackluster” outlook carries considerable downside risks, with the country’s high current account deficit “reflecting persistent...
Dec 10, 2014
Municipalities spent only 19.8%, or R66.7-billion, of the total adopted budget of R336.8-billion in the first three months of the municipal financial year ending June 30, 2015, while aggregate billing and other revenue over the period amounted to R80.7-billion – some...
Dec 10, 2014
South Africa's headline consumer inflation slowed to 5.8 percent year-on-year in November, in line with market forecasts, from 5.9% in October, data from Statistics South Africa showed on Wednesday. On a month-on-month basis prices were flat in November, also as...
Dec 10, 2014
While several municipalities have improved their financial status over the past year, 86 of South Africa’s 278 municipalities were financially distressed as at June 30. National Treasury’s latest report on local government’s finances, released this week, showed this...
Dec 10, 2014
In a bid to assist in the development of engineering skills in South Africa, engineering consulting firm WSP Africa has entered into a sponsorship agreement with Engineers Without Borders (EWB), an on-campus organisation that provides student engineers with the...
Dec 10, 2014
Jérôme Hügli
Balance was the key to a working education system, as both practically or vocationally trained workers and those with academic qualifications were needed to fulfil a country’s needs, Swiss State Secretariat for Education, Research and Innovation international...
Dec 09, 2014
Article contains comments
A national minimum wage will lead to job loss, Agri SA said on Tuesday. "It would be extremely short-sighted if not inhumane not to acknowledge the desperate situation many fellow South Africans find themselves in," Agri SA president Johannes Möller said.
Dec 08, 2014
A growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home. Rapid economic growth in countries such as...
Dec 05, 2014
At the end of last year, bilateral trade between South Africa and China exceeded R270-billion, President Jacob Zuma said on Friday. "China's investment into South Africa is cumulatively valued at approximately R120-billion, with over 100 State-owned entities and...
Dec 05, 2014
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Dec 05, 2014
Reserve Bank Govenor Lesetja Kganyago
Falling oil prices and benign food prices have served to improve South Africa's inflation outlook, but the central bank remains in a gradual policy tightening cycle, Reserve Bank Governor Lesetja Kganyago said. In a business speech made available on Friday, Kganyago...
Dec 05, 2014
Cosatu general secretary Zwelinzima Vavi
Migrant workers from Africa who seek employment in South Africa should not be blamed for the country's unemployment and poverty, Congress of South African Trade Unions (Cosatu) general secretary Zwelinzima Vavi said on Friday. "We have to fight relentlessly against...
Dec 05, 2014
South Africa has seen a more than 200% increase in electricity tariffs since 2008 and could be looking at more than a 1 000% increase between 2002 and 2020, prompting energy solutions provider Energy Partners head Manie de Waal to urge businesses to focus on both the...
Dec 05, 2014
The successful economic performance of the South American country of Colombia, while founded in incremental reforms carried out over several decades, was significantly boosted by a number of major reforms and developments in the 1990s and early 2000s. Thus affirms...
Dec 05, 2014
Article contains comments
Business Partners Limited has launch a R150-million Education Fund to provide existing and aspiring entrepreneurs in the educational sector with the risk capital and mentorship required to pursue projects. “Education remains a major challenge in South Africa and has...
Dec 04, 2014
Article contains comments
Rosatom regional VP: sub-Saharan Africa Viktor Polikarpov
Russian nuclear vendor Rosatom has confirmed that it is considering various funding models, including the extension of a State loan, as part of its offer to South Africa for the building of a proposed new nuclear power plant (NPP) build programme. Speaking during an...
Dec 03, 2014
Dec 03, 2014
Article contains comments
Dec 03, 2014
South Africa's best-managed municipalities are in Gauteng and the Western Cape, according to a study released on Wednesday. "Western Cape and Gauteng municipalities remain typically the best managed and most competitive in a year ridden with protests," Municipal IQ...
Dec 03, 2014
Article contains comments
The National Employers Association of South Africa (Neasa) on Tuesday filed an urgent application for leave to appeal Justice Hilary Rabkin-Naiker’s December 1 judgment dismissing its urgent application to prevent the Metal and Engineering Industry Bargaining Council...
 
 
 
 
Dec 03, 2014
Business confidence improved during November, with the South African Chamber of Commerce and Industry (Sacci) Business Confidence Index (BCI) having gained two index points to 90.8. Sacci stated that, while the despairing mood in the business environment seemed to be...
Dec 03, 2014
South Africa’s continuously constrained power supply has dampened the 2015 outlook for more than half of the nation’s CEOs, who feel the lack of energy capacity would hit the bottom lines of businesses in the coming year. Despite an uptick in the confidence of South...
Dec 03, 2014
It was unlawful and unconstitutional to not reveal national keypoints, the High Court in Johannesburg ruled on Wednesday. The Right2Know Campaign (R2K) and the South African History Archive (SAHA) wanted the police to reveal the national key points under the...
Dec 03, 2014
South Africa's private sector expanded at a much slower rate in November, largely due to weaker growth in output and new orders, a survey showed on Wednesday. The HSBC Purchasing Managers' Index (PMI) slipped to 50.5 in November from 52.7 in October as the expansions...
Dec 03, 2014
Corruption has increased in several of the world's best-performing economies as rising growth has encouraged an abuse of power, corruption watchdog Transparency International said Wednesday in its annual report. "The 2014 Corruption Perceptions Index shows that...
Dec 03, 2014
Corruption Watch executive director David Lewis
South Africa scored 44 out of 100 and ranked 67 out of all the surveyed countries in the 2014 Transparency International (TI) 2014 Corruption Perceptions Index (CPI). This is the third consecutive year that the country has scored below 50 in the most widely used...
Dec 02, 2014
As Turkey takes over the reins as chair of the group of 20 (G20) economies, the country on Tuesday said it would hone in on African growth as it built on the momentum gained by its predecessor, Australia. “Africa is a focal point for Turkey …”, he said, adding that...
Dec 02, 2014
The Ebola outbreak in West Africa is taking a heavy toll on the economies of Liberia, Sierra Leone and Guinea, all of which face negative or slower growth next year because of the virus, the World Bank said on Tuesday. The bank said growth estimates for the three...
Dec 02, 2014
Article contains comments
South Africa's economic imbalances have grown "more uncomfortable" and growth is unlikely to rebound enough to significantly ease budget and current account deficits without separate policy adjustments, the central bank said on Monday. The South African Reserve Bank...
Dec 01, 2014
Article contains comments
 
 
 
 
Dec 01, 2014
The granting of an incentive to a Western Cape company has resulted in the creation of jobs, said the Department of Trade and Industry (dti) on Monday. “Abagold Limited, a company that farms in abalone in Hermanus, Western Cape, is one of the few companies that have...
Dec 01, 2014
Article contains comments
The Labour Court in Johannesburg on Monday dismissed an urgent application by the National Employers Association of South Africa (Neasa) to prevent the Metal and Engineering Industry Bargaining Council (MEIBC) from requesting Labour Minister Mildred Oliphant to...
Dec 01, 2014
Anglo American executive director Khanyisile Kweyama
Diversified mining major Anglo American has announced that it will be the lead private sector company supporting the 21st International Aids Conference taking place in July 2016, in Durban, South Africa. The International Aids Conference is held every two years and...
Dec 01, 2014
As the global community observes World Aids Day on December 1, 2014, Professor Linda-Gail Bekker, new president-elect of the International Aids Society (IAS) and Deputy Director of the Desmond Tutu HIV Centre at the University of Cape Town, says the fight against...
Dec 01, 2014
South Africa’s seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) recovered to its best level in over a year in November, rising to 53.3 points – a reading above the 50-point level signals an expansion. Besides being at its best level since August 2013, the...
 
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