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Economy News

Joburg council hopes to reintegrate electricity, waste, water entities – Mashaba

By: News24Wire      30th January 2017 City Power, Joburg Water and Pikitup are one step closer to falling under the operational control of the Johannesburg municipality, Mayor Herman Mashaba said on Sunday. "On Thursday, Johannesburg City Council approved a report proposing the initiation of a process to reintegrate municipal-owned... 

Metals, engineering sector to grow for the first time in over three years in 2017, but risks remain

By: David Oliveira     27th January 2017 South Africa’s metals and engineering sector is expected to grow for the first time in over three years this year – by 1.4% – amid rising commodity prices and an improved economic outlook both globally and domestically. Speaking at the launch of the ‘State of the Metals and Engineering Sector... 

Metals, engineering sector to grow for the first time in over three years in 2017, but risks remain

Digital solutions to drive next wave of industrial productivity – Immelt

By: Terence Creamer     27th January 2017 The next wave of industrial productivity will be driven by digital solutions, GE CEO Jeff Immelt argued during a visit to South Africa this week, adding that industrial firms would, therefore, have little option but to rethink their strategies in a digital context. The US multinational is in the... 

Digital solutions to drive next wave of industrial productivity – Immelt
Photo by Duane Daws
GE CEO Jeff Immelt

Poultry task team makes progress in finding solutions to sector challenges

By: Megan van Wyngaardt     27th January 2017 A poultry sector task team established by the South African government to deal with the challenges facing the domestic poultry industry has made “significant progress” across various work streams, the Department of Trade and Industry (DTI) said on Friday. Domestic poultry producers continue to... 

Stronger rand drives Comair’s interim earnings higher

By: Megan van Wyngaardt     27th January 2017 A stronger rand has contributed to a 125% to 145% year-on-year increase in Comair’s earnings per share (EPS) for the six months ended December 31. Comair expects to report EPS of 40c to 44c for the interim period. 

New open tender system will stop corruption, fraud, says Joburg Mayor

By: African News Agency      27th January 2017 A new open tender system for the City of Joburg will stop fraud and corruption associated with the secret awarding of tenders, Democratic Alliance mayor Herman Mashaba said on Friday. “For decades, decisions regarding the tender procurement process have been shrouded in secrecy, benefiting the... 

New open tender system will stop corruption, fraud, says Joburg Mayor
Joburg Mayor Herman Mashaba

Excessive imports of grain hurting local farmers – Grain SA

By: Megan van Wyngaardt     27th January 2017 Grain farmers association Grain SA has called for greater transparency in the reporting of import and export contracts, as local producers' competitiveness was being hampered by unchecked imports. “Currently there is no mechanism to report import and export contracts. This is totally one-sided... 

Excessive imports of grain hurting local farmers – Grain SA

Africa’s rapid urbanisation a boon for ICT sector – Siemens

By: Schalk Burger     27th January 2017 African governments and the private sector have an opportunity to roll out services for digital access and use as a utility, which will extend information and communication technology (ICT), improve digital maturity, and help to develop Africa and its cities to deal with urbanisation, says... 

Africa’s rapid urbanisation a boon for ICT sector – Siemens
SABINE DALL’OMO The manufacturing, transport and energy industries can benefit greatly from digitalisation to help overcome persistent challenges in the sectors

Application of aerotropolis concept in South Africa to attract business

By: Simone Liedtke     27th January 2017 The Airports Company of South Africa (ACSA) believes that focused applications of the aerotropolis concept in South Africa will attract business and make domestic airports a preferable link in the value chain. 

Application of aerotropolis concept in South Africa to attract business
Photo by Duane Daws
OR TAMBO INTERNATIONAL AIRPORT The Aerotropolis Master Plans details 21 catalytic projects to be delivered at the airport

Boilers market will grow significantly by 2026

     27th January 2017 The global industrial boilers market is projected to grow to $17.77-billion by 2026, says market research company Markets & Markets. 

Boilers market will grow  significantly by 2026
Photo by Reuters
LOSING FAVOUR The research has shown that countries are moving away from coal-fired boilers

Burner management systems market anticipates 5.5% growth by 2024

     27th January 2017 The global market for burner management systems (BMS) is projected to be worth $7.39-billion by 2024, expanding at a compound annual growth rate (CAGR) of 5.5% in that period, explains market research service provider Transparency Market Research (TMR). 

Burner management systems market anticipates 5.5% growth by 2024
BOILER MANAGEMENT SYSTEMS Boiler management systems are important to ensure the safety of workers

New sewer pipeline to relieve pressure on existing works

By: Simone Liedtke     27th January 2017 Dube TradePort will construct the 6-km-long Hlawe river sewer pipeline, which will link the Dube TradePort precinct to the existing Tongaat Wastewater Treatment Works, service the northern part of the TradePort precinct and relieve pressure on the wastewater works. 

New sewer pipeline to relieve pressure on existing works
DUBE TRADEPORT The Dube AgriZone is intended to act as a catalyst for high-value agribusiness in Kwa-Zulu Natal

Exxaro will support any ‘sustainable’ plan for restarting Arnot 

By: Terence Creamer     26th January 2017 Mining group Exxaro says it will be guided by Eskom on the future of the Arnot coal mine, in Mpumalanga, which was closed after Eskom’s contentious December 31, 2015, decision not to renew a 40-year coal supply agreement (CSA) with Arnot, an Eskom-tied mine operated by Exxaro. The termination of... 

Exxaro will support any ‘sustainable’ plan for restarting Arnot
Eskom interim CEO Matshela Koko on Arnot, Matla and Exxaro's empowerment structure. Camera Work & Editing: Nicholas Boyd

FICA amendment Bill constitutional – Basa

By: Megan van Wyngaardt     26th January 2017 The Financial Intelligence Centre Act amendment Bill passes constitutional muster, says the Banking Association South Africa (Basa), urging Parliament’s Standing Committee on Finance to refer the Bill back to President Jacob Zuma for signing into law. Basa appeared before the committee, which... 

Nzimande concedes to TVET issues, but says solutions are not quick to implement

By: Megan van Wyngaardt     26th January 2017 Higher Education and Training Minister Dr Blade Nzimande on Thursday said there was “nothing" in the memorandum submitted to the Department of Higher Education and Training (DHET) by the South African Further Education and Training Student Association (Safetsa) that could not be resolved with “a... 

Nzimande concedes to TVET issues, but says solutions are not quick to implement
Photo by Duane Daws
Higher Education and Training Minister Dr Blade Nzimande

Rand could strengthen to best levels since late 2015

By: News24Wire      26th January 2017 The rand is continuing its strong showing after breaking through a significant level of R13.30/$ on Wednesday on the back of a bigger risk appetite for emerging market currencies and a strengthening of the euro. “There is now a possibility that the rand could break through the R13.20/$ and... 

Failing IT system, low capture rates, processing oversights delay TVET exam results

By: Megan van Wyngaardt     26th January 2017 Of the more than two-million subject entries received for the technical and vocational education and training (TVET) college examinations written in November 2016, the results of 8 224, or 0.4%, of subject entries were still outstanding. This, Higher Education and Training Minister Dr Blade... 

Failing IT system, low capture rates, processing oversights delay TVET exam results

Eskom talks tough on renewables, coal 

     26th January 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s continued reluctance to sign power purchase agreements for new renewables capacity and its aim to use its coal procurement as leverage to transform the coal industry. 

Eskom talks tough on renewables, coal
Eskom talks tough on renewables, coal

Construction steel designation confirmed after intensive lobbying effort

By: Terence Creamer     26th January 2017 The long-awaited stipulation that domestic steel, as well as locally made steel products and components, be used in public-sector construction projects has been welcomed by South Africa’s leading steel producer, as well as by the Southern African Institute of Steel Construction (SAISC). It is the... 

Construction steel designation confirmed after intensive lobbying effort

France’s EDF declares intention to respond to Eskom’s nuclear RFI

By: Terence Creamer     25th January 2017 The French nuclear industry, led by electricity utility EDF, formally declared its intention on Wednesday to submit a response to the Nuclear New Build Programme request for information (RFI), which was released by South Africa’s Eskom on December 20. The announcement by EDF followed reports that... 

France’s EDF declares intention to respond to Eskom’s nuclear RFI
EDF's Flamanville 3 reactor under development in north-western France

South Africa has much to do as risk of ratings downgrade remains

By: Megan van Wyngaardt     25th January 2017 South Africa still had much to do to avoid potentially being downgraded to junk status in the year ahead, with the country having already “dodged some bullets” at the end of last year. During a panel discussion at Deloitte’s Africa Outlook 2017, Standard & Poor’s (S&P’s) MD Konrad Reuss said the... 

South Africa has much to do as risk of ratings downgrade remains

Anglo confident of ‘favourable outcome’ with Eskom on sale of three tied coal mines  

By: Terence Creamer     25th January 2017 Mining group Anglo American says it has held discussions with and continues to engage with Eskom, government and potential bidders on its plan to exit its Eskom-tied mines – Kriel, New Denmark and New Vaal. Responding to Eskom interim CEO Matshela Koko’s insistence that Eskom had assets at the... 

Anglo confident of ‘favourable outcome’ with Eskom on sale of three tied coal mines
Eskom interim CEO Matshela Koko on Anglo American's proposed exit of Eskom-tied coal mines. Camera Work & Editing: Nicholas Boyd.

Zuma's stand on FIC Bill is incorrect – senior counsel

By: News24Wire      25th January 2017 Two independent members of senior counsel told MPs of the Standing Committee on Finance on Wednesday that President Jacob Zuma’s interpretation of the Financial Intelligence Centre (FIC) Bill is not correct. The Financial Intelligence Centre (FIC) Bill will indeed pass constitutional muster, said... 

Zuma's stand on FIC Bill is incorrect – senior counsel

Dlamini-Zuma calls on African leaders to counter ills of globalisation

By: African News Agency      25th January 2017 The outgoing chairperson of the African Union (AU) Commission, Nkosazana Dlamini-Zuma, on Wednesday said African leaders needed to do more to counter the negative effects of globalisation. Opening the 30th Ordinary Council of the AU, Dlamini Zuma said the effects of globalisation were becoming... 

Dlamini-Zuma calls on African leaders to counter ills of globalisation
Photo by Reuters
Outgoing African Union chairperson Nkosazana Dlamini-Zuma

South Africa slightly improves score in corruption perceptions index, rank drops

By: Sashnee Moodley     25th January 2017 While South Africa slightly improved its score in the Corruption Perceptions Index (CPI) for 2016 from 44 to 45, its rank in relation to all 176 countries reviewed fell three points to 64. Global civil society organisation Transparency International’s CPI score refers to the perceived level of... 

South Africa slightly improves score in corruption perceptions index, rank drops

Business Leadership SA urges Zuma to sign FICA amendment bill now 

By: African News Agency      24th January 2017 On the eve of public hearings on the Financial Intelligence Centre (FIC) Act amendment bill, Business Leadership South Africa (BLSA) urgent President Jacob Zuma to sign it into law urgently, dismissing objections to it as unfounded. “BLSA believes that none of the objections raised are... 

Business Leadership SA urges Zuma to sign FICA amendment bill now
Photo by Duane Daws
President Jacob Zuma

Eskom will appoint a permanent CEO soon – Lynne Brown 

By: African News Agency      24th January 2017 Public Enterprise Minister Lynne Brown on Tuesday, said that Eskom would appoint a permanent chief executive office (CEO) within the first quarter of this year. Eskom’s top job became vacant at the end of December, when former CEO Brian Molefe resigned following his implication in possible... 

Eskom will appoint a permanent CEO soon – Lynne Brown
Photo by Duane Daws
Public Enterprise Minister Lynne Brown

AFC issues $150m maiden Sukuk

By: Anine Kilian     24th January 2017 Pan-African multilateral development finance institution Africa Finance Corporation (AFC) has issued its maiden $150-million Sukuk. Following high levels of investor interest, the initial target of $100-million was more than twice oversubscribed, resulting in the transaction being upsized to... 

NSFAS pays R1.3bn in university registration fees

By: Creamer Media Reporter      24th January 2017 The National Student Financial Aid Scheme (NSFAS) has dispersed some R1.3-billion to 26 public universities for the registration of students from disadvantaged backgrounds. The advanced payment of the registration fees is aimed at allowing university students to be admitted for their studies at... 

NSFAS pays R1.3bn in university registration fees

Imperial sees dip in interim earnings

By: Megan van Wyngaardt     24th January 2017 JSE-listed Imperial Holdings expects its earnings per share (EPS) for the six months ended December 31, to decrease by 21% to 27% to around 700c apiece. Headline earnings per share (HEPS) are expected to decrease by 13% to 20%, to between 640c and 700c apiece. 

Revisions to public procurement regulations to further boost economy

By: Megan van Wyngaardt     24th January 2017 The revised Preferential Procurement Regulations, which were gazetted on January 20, have introduced prequalification criteria, which allow the advancement of selected categories of people by limiting competition. The restriction will limit the inclusion of well-established companies, unless they... 

Revisions to public procurement regulations to further boost economy
Photo by Dylan Slater
Finance Minister Pravin Gordhan

Former Sars spokesperson 'kept in the dark on rogue unit' 

By: News24Wire      23rd January 2017 Former Sars spokesperson Adrian Lackay claims he was "kept in the dark" when the report probing the so-called rogue unit was handed to commissioner Tom Moyane. Lackay is testifying at a Commission for Conciliation Mediation and Arbitration (CCMA) hearing and his legal team has hinted that his... 

Absa campaign ‘led by Gupta-sponsored groups,’ – EFF

By: African News Agency      23rd January 2017 A campaign to get Barclays-owned Absa to pay back apartheid debt is led by “State Security” and the controversial Gupta family, Economic Freedom Fighters (EFF) leader Julius Malema said on Monday. The EFF has been attacked in recent times for being complacent after announcing that it would occupy... 

Absa campaign ‘led by Gupta-sponsored groups,’ – EFF

Wine industry under pressure amid subdued economy

By: Megan van Wyngaardt     20th January 2017 While the local wine market has grown more than 14%, or by 50-million litres, over the past two years, to more than 400-million litres at the end of December, continued pressure on the local economy could hamper the industry’s future growth. The wine industry is currently in a slump, with only... 

Wine industry under pressure amid subdued economy

AfriForum to take legal action against defaulting municipalities

By: Megan van Wyngaardt     20th January 2017 Civil rights organisation AfriForum on Friday said it would call on the National Energy Regulator of South Africa (Nersa) to withdraw the licences of municipalities that have defaulted on their payments to power provider Eskom. “[We will be approaching] the courts in terms of the protection of... 

AfriForum to take legal action against defaulting municipalities

Guptas lambast Gordhan in court papers 

By: African News Agency      20th January 2017 Oakbay Investments, the company owned by the wealthy Gupta family, on Friday lambasted Finance Minister Pravin Gordhan’s court application seeking a court order enforcing his decision not to intervene in the debacle relating to the South African banks that cut links with the controversial family.... 

Guptas lambast Gordhan in court papers
Photo by Reuters
Finance Minister Pravin Gordhan

Operation Phakisa making strides in ICT in education

By: Natasha Odendaal     20th January 2017 Progress is being made in the implementation of the Information and Communications Technology (ICT) in Education segment of South Africa’s Operation Phakisa, the Department of Planning, Monitoring and Evaluation (DPME) said on Friday. Implemented by the Department of Basic Education (DBE) in... 

Operation Phakisa making strides in ICT in education

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