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Economy News

Brazilian group to help develop aviation industry in Morocco

By: Keith Campbell     5th August 2016 Brazilian aerospace group Embraer and Morocco’s Mohammed VI International Aviation Academy (AIAC) signed a memorandum of understanding (MoU) in Casablanca last week. The aim of the MoU is to develop aviation-related engineering in the North African country. Embraer will train Moroccan engineers... 

From elevated inspections to stock analysis, drones begin making business impact

By: Dylan Slater     5th August 2016 Remotely piloted aircraft systems (RPASs) have the potential to significantly change the way many industrial, engineering and mining operations are conducted, with the ability to reach difficult to access areas and remove people from hazardous situations.  

From elevated inspections to stock analysis,  drones begin making business impact

Global defence aviation market predicted to expand, but competition to rise too

By: Keith Campbell     5th August 2016 European aerospace and defence company Airbus Defence and Space (Airbus DS) expects the global defence market to grow at an annual average rate of 2.4% between now and 2020. Currently, total global defence expenditure is estimated at about €400-billion. In terms of regions, defence spending in... 

Government regulations seen supporting further green building uptake

By: David Oliveira     5th August 2016 Sustainable development specialists and property analysts have urged all South African businesses and developers to embrace the reality of green building as government actively pursues legislation to enforce more sustainable construction. Nelson Mandela Metropolitan University (NMMU)... 

SA farmers hope for enough rain after winter

By: Simon Sonnekus     5th August 2016 The next five months and the following planting season will be critical for farmers who have been affected by the devastating drought which crippled the agriculture sector recently. According to agricultural organisation AgriSA CEO Omri van Zyl, farmers need to see out the winter and hope for... 

South Africa wants answers on Zim trade restrictions by end August

By: Terence Creamer     4th August 2016 South Africa has given Zimbabwe until the end of August to respond to its long-standing enquiry regarding the imposition of surcharges on various South African imports, as well as more recent, and more hostile, trade restrictions imposed under Statutory Instrument 64 (SI 64), which has disrupted... 

South Africa wants answers on Zim trade restrictions by end August
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

Omnia raises bid for Nordex

By: Natasha Odendaal     4th August 2016 Shareholders of Canadian firm Nordex Explosives have one month to accept a now-formal fully funded, all-cash inflated takeover bid by JSE-listed Omnia Group. Omnia this week, through its mining division BME, raised the stakes with an offer of C$0.22 per Nordex share, taking the deal to... 

WTO confirms South Africa’s cold-rolled steel safeguards probe 

By: Terence Creamer     4th August 2016 The World Trade Organisation (WTO) has confirmed that South Africa has notified its committee on safeguards about the initiation of a safeguard investigation on certain cold-rolled steel products. In the notification, dated July 29, the International Trade Administration Commission of South... 

WTO confirms South Africa’s cold-rolled steel safeguards probe

Global slump in commodity demand weakens asset quality of Botswana banking sector

By: African News Agency      3rd August 2016 The asset quality of Botswana’s banking sector weakened marginally in 2015 against the backdrop of sluggish global and domestic activity, the Bank of Botswana (B0B) has said. In a press statement released together with the “Banking Supervision Annual Report” for 2015 this week, BoB Governor... 

Global slump in commodity demand weakens asset quality of Botswana banking sector

Transnet outlines ‘low-road’ investment scenario amid demand uncertainty

By: Terence Creamer     2nd August 2016 State-owned freight logistics group Transnet reports that its multibillion-rand capital expenditure (capex) plan, which has already been rephased in response to weaker-than-expected market demand, could be further moderated under what it terms a “low-road scenario”. Outlining its revised capital... 

Transnet outlines ‘low-road’ investment scenario amid demand uncertainty

Will the recovery in Eskom’s plant availability be sustained? 

By: Terence Creamer     2nd August 2016 In its most recent presentations on the performance of its power stations, Eskom has pointed to improvements in the energy availability factor (EAF) from its coal-fired power stations over the past few months as evidence of a solid operational turnaround. The State-owned utility shows, for... 

Will the recovery in Eskom’s plant availability be sustained?
Photo by Duane Daws
On road to recovery?

SABMiller, AB InBev merger to cross final hurdles, conclude by Oct 

By: Natasha Odendaal     2nd August 2016 JSE-listed SABMiller and multilisted Anheuser-Busch InBev (AB InBev) continue to steadily tick off preconditions and jurisdictional approvals in a landmark deal that will see the two companies merge to form a global beer conglomerate by October. In a joint statement on Tuesday, the duo announced... 

SABMiller, AB InBev merger to cross final hurdles, conclude by Oct

More needs to be done for transformation, growth – Ramaphosa 

By: Anine Kilian     1st August 2016 One-third of South Africa’s 57-million-strong population is excluded from the economy, which impedes prospects of rapid growth in South Africa, said Deputy President Cyril Ramaphosa on Monday. Addressing an audience at the Black Securities and Investment Professionals (Absip) investment... 

More needs to be done for transformation, growth – Ramaphosa
Deputy President Cyril Ramaphosa

Transformation a must for economic growth – Mohale

By: Anine Kilian     1st August 2016 South Africa’s current administration has destroyed 22% more black-owned businesses than the apartheid regime, Shell South Africa chairperson Bonang Mohale told delegates at the Association of Black Securities and Investment Professionals (Absip) investment management summit in Johannesburg, on... 

Transformation a must for economic growth – Mohale
Photo by Duane Daws
Shell South Africa chairperson Bonang Mohale

Barclays PMI falls to 52.5 in July

     1st August 2016 Although the seasonally adjusted Barclays Purchasing Managers’ Index (PMI) fell by 1.2 index points to 52.5 in July, the index’s level still indicates that the sector experienced a reasonably strong start to the third quarter, says Barclays. The Barclays PMI remains in line with recent... 

Barclays PMI falls to 52.5 in July

Cim Global Business opens office in Johannesburg

By: Megan van Wyngaardt     29th July 2016 Mauritius’s largest fund administrator Cim Global Business, which provides corporate and trust structuring and administration services, has opened a representative office at Nelson Mandela Square, in Sandton. The company, which currently employs about 250 people at its Mauritius office and ten... 

New steel chief seeks dialogue on power-tariff risks

By: Terence Creamer     29th July 2016 New ArcelorMittal South Africa (AMSA) CEO Wim de Klerk views the prospect of ongoing electricity tariff increases as among his chief anxieties as he settles in at a company that is edging towards recovery, having not shown a profit since 2010. Addressing shareholders for the first time on Friday,... 

New steel chief seeks dialogue on power-tariff risks

Huge petrol price relief

By: News24Wire      29th July 2016 The pump price for a litre of petrol will be 99c a litre cheaper for all grades from next Wednesday, while the price of diesel 0.05% sulphur and diesel 0.005% sulphur will decrease by 74c and 73c a litre respectively. Motorists will now pay R12.35 a litre for unleaded petrol inland and R11.87 on... 

Huge petrol price relief

Italtile to oppose commission’s finding on merger

By: Megan van Wyngaardt     29th July 2016 Italtile on Friday said it was strongly opposed to the Competition Commission’s ruling, prohibiting Italtile Group’s proposed acquisition of Ceramic Industries and Ezee Tile Adhesive Manufacturers. 

New aviation statistics report shows strong South African passenger growth

By: Keith Campbell     29th July 2016 Airline passenger traffic is growing strongly in South Africa. "Passenger growth in South Africa is defying all economic logic!" highlighted Airports Company South Africa (ACSA) CEO Bongani Maseko on Friday. Passenger traffic growth usually reflects growth in gross domestic product (GDP). "GDP... 

New aviation statistics report shows strong South African passenger growth
Photo by Duane Daws
ACSA CEO Bongani Maseko

South Africa's main two airports to expand capacity again

By: Keith Campbell     29th July 2016 The Airports Company South Africa (ACSA) is planning to start work on new or expanded domestic passenger terminal facilities at both Cape Town International Airport and Johannesburg's OR Tambo International Airport in the near future. ACSA CEO Bongani Maseko conveyed this information to... 

South Africa's main two airports to expand capacity again
Photo by Duane Daws
OR Tambo International airport

Brazilian airframer predicts rapid growth in smallest jet airliner segment

By: Keith Campbell     29th July 2016 Embraer, the Brazilian group that is the world’s number one manufacturer of commercial jets carrying up to 130 passengers, forecasts that the global market for jet airliners in the 70-seat to 130-seat category will come to 6 400 new aircraft, worth $300-billion, over the next 20 years. The... 

Effective supply chain crucial in combating spread of HIV/Aids

By: David Oliveira     29th July 2016 Effective supply chain management remains the most significant challenge facing HIV treatment in developing countries, particularly those in sub-Saharan Africa, and is critical to realising the global goal of an Aids-free generation by 2030, says former Anglo American chief medical officer Dr... 

Goal-based framework seen as key to improving working-at-height safety

By: Dylan Slater     29th July 2016 Working at height operations require ongoing monitoring and support as these activities account for almost 30% of fatal injuries incurred in an industrial working environment, according to the UK’s Health and Safety Executive (HSE).  

Local content priority for PRASA contract

     29th July 2016 French multinational rail transport company Alstom, which has a controlling stake in local rail transport consortium Gibela, has reinforced its commitment to ensuring local content forms a significant portion of the multibillion-rand contract signed between Gibela and the Passenger Rail Agency of... 

Stability and cohesion a way forward for African rail sector

By: Simon Sonnekus     29th July 2016 Companies are under pressure from government and the public to embark on new projects while there are still projects that need to be completed. The countless delays across the rail expansions are concerning, says the RailRoad Association of South Africa (RRA). Negative sentiments by the industry... 

Stability and cohesion a way forward for African rail sector
Photo by Duane Daws
DELAYS Negative sentiments by the industry on implementing the designation policy and delays of some rail projects have led to discussions with Trade and Industry Minister Dr Rob Davies

Wastewater treatment necessary to grow the economy

By: Nadine James     29th July 2016 Consistent and sustainable water supply is necessary to ensure socioeconomic growth; therefore, wastewater treatment, as a comparatively cost-effective solution that reduces strain on available water supply, is vital to economic growth in water-stressed countries, says waste management company... 

Wastewater treatment necessary to grow  the economy
UNDERCOVER OPERATION The underground biological wastewater treatment plant should remain operational for up to 25 years

Aurecon-led consortium wins award for aerotropolis master plan 

By: Megan van Wyngaardt     28th July 2016 The South African Planning Institute (SAPI) has recognised an Aurecon-led consortium for its completion of the Ekurhuleni OR Tambo Aerotropolis Master Plan, declaring it the winner of the Private Sector category of the institute’s Planning Awards. The consortium, comprising Aurecon, the Council... 

CompComm prohibits tiles and sanitaryware merger

By: Megan van Wyngaardt     28th July 2016 The Competition Commission has prohibited Italtile Group’s proposed acquisition of Ceramic Industries and Ezee Tile Adhesive Manufacturers, as it found that there would be no viable alternatives for competitors in the downstream retail market. The commission added that the merged entity could... 

Construction sector launches revised sector code

By: David Oliveira     28th July 2016 The Construction Sector Charter Council (CSCC) on Thursday launched the revised draft Construction Sector Code (CSC), which is aimed at aligning the unique aspects of the sector with the black economic-empowerment and transformation targets set out by the Department of Trade and Industry (DTI).... 

Stats SA boss slams UN invoice-fraud report

By: News24Wire      28th July 2016 Statistician-general Pali Lehohla disputed the accuracy of a United Nations report on invoice fraud, which states that there had been gross discrepancies in South Africa’s records of gold exports and that of its trading partners. The United Nations Conference on Trade and Development (Unctad)... 

Local hotel tourism rakes in R14.2bn, despite visa gripes 

By: Megan van Wyngaardt     28th July 2016 Despite uncertainty in the domestic tourism industry, owing to the revised visa regulations and a weak global economy, South Africa can still expect healthy growth over the next five years, PwC’s Hotels Outlook 2016 – 2020 reveals. Almost 2 600 rooms will be added to the South African hotel... 

Local hotel tourism rakes in R14.2bn, despite visa gripes
PwC Southern Africa hospitality and gambling industry leader Pietro Calicchio tell Engineering News about the hotel tourism industry. Video and editing: Nicholas Boyd.

South Africa a leader in aviation security

By: Keith Campbell     28th July 2016 South Africa is one of the leading countries in the world in implementing the latest commercial aviation security systems. This was pointed out on Tuesday by International Air Transport Association (Iata) head of facilitation Bob Davidson. The systems concerned are Advanced Passenger Information... 

South Africa a leader in aviation security
Photo by Duane Daws/Creamer Media
Departure concourse, OR Tambo International Airport, Johannesburg

Energy Minister cracks down on CEF governance

By: Megan van Wyngaardt     27th July 2016 The Central Energy Fund (CEF) board will review its governance processes, as well as its turnaround strategies for the subsidiaries in the group, after Energy Minister Tina Joemat-Pettersson raised concerns around the recent lapses in governance in the group. At a meeting held earlier this month... 

Necsa, unions reach wage agreement

By: Megan van Wyngaardt     27th July 2016 The South African Nuclear Energy Corporation (Necsa) and labour unions have reached a wage agreement, following months of negotiation. The parties agreed that, effective July 1, employees earning less than R600 000 a year, would receive a 7% increase, as well as a R5 000 one-off payment, while... 

South Africa ranks moderately on food security index

By: Megan van Wyngaardt     27th July 2016 South Africa is ranked at 47 out of the 113 countries in this year’s Global Food Security Index (GFSI), reflecting a one-position decline from 2015, but an overall 0.6 point score increase. The country ranked first among its sub-Saharan African peers and landed in the top ten of... 

South Africa ranks moderately on food security index

CFOs concerned for 2016, more optimism expected next year

By: Natasha Odendaal     27th July 2016 There is less optimism across Africa around the performance of companies, with currency volatility and political uncertainty topping the list of concerns for 2016. Deloitte’s ninth edition of the CFO Survey shows CFOs across the continent adopting “defensive strategies” with most focused on... 

CFOs concerned for 2016, more optimism expected next year
Photo by Duane Daws
Deloitte Emerging Markets and Africa MD Dr Martyn Davies

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