http://www.engineeringnews.co.za
R/€ = 16.07 Change: -0.06
R/$ = 13.65 Change: -0.13
Au 1280.70 $/oz Change: -0.10
Pt 923.50 $/oz Change: 0.00
 

Financial News

Businesses must take action to drive inclusive growth in Africa

By: Robyn Wilkinson     20th October 2017 There is a need for a new social narrative that balances generating profits with building social capital to drive inclusive economic growth in Africa, says management consultant IQbusiness CEO Adam Craker.  

Clarifying sustainability reporting imperative for modern business

By: Robyn Wilkinson     20th October 2017 A clear and shared sustainability reporting framework is integral for enabling companies to demonstrate a positive impact on not only the economies but also the societies and environments in which they operate, says independent international organisation Global Reporting Initiative (GRI) CE Tim... 

Clarifying sustainability reporting imperative for modern business
Photo by Bloomberg
DRIVING GROWTH GRI is assisting SMEs in Africa to gain access to global value chains by building their capacities for corporate sustainability management and reporting

Digital disruption to drive financial inclusion in Africa

     20th October 2017 Digital disruption in the financial services sector is likely to gain further momentum and lead to exciting new business models that will facilitate financial inclusion in Africa, says advisory services provider Deloitte Africa financial services industry leader Roger Verster. 

Digital disruption  to drive financial  inclusion in Africa
Photo by Bloomberg
DIGITAL DISRUPTION Mobile wallet solution m-Pesa is now available in ten countries and has a customer base of about 30-million active users

New security solution effective for African banks

By: Robyn Wilkinson     20th October 2017 Technology solutions providers Mint Management Technologies and Microsoft are finalising the first version of an anti-money-laundering (AML) solution to help protect African financial institutions from illegal activities without enforcing cumbersome administration processes on clients. 

New security solution  effective for African banks
PRIORITISING PROTECTION Countries are finding it increasingly difficult to participate in the global economy if they are not engaged in some form of anti-money laundering programme

IDC will invest in infrastructure that unlocks industrialisation

By: Keith Campbell     20th October 2017 The Industrial Development Corporation (IDC), South Africa’s development finance institution which exists to fund entrepreneurs and projects in the industrial sector, also seeks to use investments in infrastructure to free up industrial development opportunities. This was highlighted by IDC... 

Chamber helps Italian companies prosper in S Africa

By: Robyn Wilkinson     13th October 2017 Networking events and exhibitions are integral to fostering partnerships between Italian and South African companies, says Italian-South African Chamber of Trade and Industries secretary general Mariagrazia Biancospino. 

Pan-European bank celebrates 45 years in SA

By: Robyn Wilkinson     13th October 2017 Pan-European banking and financial services provider UniCredit will celebrate 45 years of successful service in South Africa this year, having provided support for European companies entering African markets from its Johannesburg-based representative office since 1972. 

Pan-European bank  celebrates 45 years in SA
FAR-REACHING NETWORK Headquartered in Milan, UniCredit has a unique Pan-European network that provides expertise to 25-million clients globally

WWF, AfDB partner on Africa Nationally Determined Contributions Hub

By: Mia Breytenbach     13th October 2017 Conservation organisation the World Wide Fund for Nature (WWF) and the African Development Bank (AfDB) have collaborated to advance the work of the Africa Nationally Determined Contributions (NDCs) Hub in addressing the impacts of climate change on the continent. The AfDB Climate Change and Green... 

WWF, AfDB partner on Africa Nationally  Determined Contributions Hub
Photo by Bloomberg
FOCUS AREA The Africa Nationally Determined Contributions Hub focuses on fostering of long-term climate action

SA weighs market opportunities as utility-scale battery storage prospects improve

By: Mia Breytenbach     13th October 2017 Following the release of an energy storage techno-economic study ‘The South Africa Energy Storage Technology and Market Assessment’, advocating that South Africa requires market preparation to take advantage of growth opportunities in the stationary and mobility value chains of energy storage,... 

SA weighs market opportunities as utility-scale  battery storage prospects improve

Hedderwick resigns as Long4Life COO

By: Anine Kilian     6th October 2017 Kevin Hedderwick has resigned as COO and executive director of JSE-listed Long4Life to pursue personal interests. Hedderwick, who was previously CEO of Famous Brands, joined Long4Life in May. 

UK unveils post-Brexit bilateral commitment to South Africa

By: Keith Campbell     6th October 2017 British International Trade Secretary (equivalent to Minister in South Africa) Dr Liam Fox announced on his recent visit to South Africa that his country’s export credit agency, UK Export Finance, has increased the funds available to South African enterprises buying British goods and to British... 

CEOs plan investments in Africa in medium term amid all-time confidence lows

By: Mia Breytenbach     3rd October 2017 A third of CEOs plan to invest in Africa in the medium term, despite confidence in South Africa being at all-time lows. This is according to the quarterly Merchantec Confidence Index, released on Tuesday. 

Good corporate governance integral to mitigating risk – Manuel 

By: Ilan Solomons     3rd October 2017 The current lack of good corporate governance is negatively impacting on many of South Africa’s State-owned enterprises, according to former Finance Minister Trevor Manuel, who believes that working corporate governance could successfully mitigate risk. Delivering the keynote address at the... 

Good corporate governance integral to mitigating risk – Manuel
Photo by Duane Daws
Former Finance Minister Trevor Manuel

Decline in insured construction activity to continue – Bryte

By: Mia Breytenbach     3rd October 2017 Insured construction activity contracted by 15% year-on-year in the second quarter. Southern African proactive business risk specialist Bryte Insurance (formerly known as Zurich Insurance) this week released its Construction Activity Monitor for the three months to June 30. 

Decline in insured construction activity to continue – Bryte

Acquisition to enable large-scale cannabis production

     29th September 2017 International investment company LGC Capital, with its joint venture global logistics solutions company AfriAg, signed an agreement to acquire a 60% interest in South African cannabis product manufacturing company House of Hemp.  

Acquisition to enable large-scale cannabis production
WEED FOR PURPOSE Since its establishment, House of Hemp has been targeting research on all cannabis-related markets such as textiles, fibres, oil, nutrition and medicinal

SEZ receives recognition, contributes to SMME participation

By: Marleny Arnoldi     29th September 2017 Special economic zone (SEZ) developer and operator Coega Development Corporation (CDC) has been recognised by export assistance company Exporters Club for its dedication to job creation initiatives and excellent services to export orientated investors.  

SEZ receives recognition,  contributes to SMME participation
Photo by Duane Daws
JOBS SWEET SPOT The Coega Development Corporation created more than 7 243 operational jobs within its special economic zone at the end of the financial year 2016/17

Small businesses remain optimistic, despite volatility and uncertainties

By: Mia Breytenbach     29th September 2017 Despite economic volatility, South African small business owners remain optimistic and are actively pursuing growth, according to research from cloud based accounting software company Xero.   The research report, titled ‘State of South African Small Businesses’ surveys the challenges facing the... 

Small businesses remain optimistic,  despite volatility and uncertainties
Photo by Bloomberg
HELPING HAND Some small business owners want the government to provide more funding and some believe government should grant tax breaks for their business

KPMG Gupta blunder could see tighter audit policy, says SARB

By: African News Agency      26th September 2017 The South African Reserve Bank (SARB) said on Tuesday recent developments involving embattled audit firm KPMG SA may compel it to consider policy changes to further strengthen governance and transparency within the auditing and accounting professions. KPMG in South Africa failed to flag monies... 

Gigaba calls for criminal probe into KPMG

By: Reuters     22nd September 2017 South African law enforcement agencies should investigate KPMG after the global auditor sacked its top management over work done for business friends of President Jacob Zuma, Finance Minister Malusi Gigaba said on Friday. KPMG dismissed its South African division's top management last week... 

Big room for improvement in payment of suppliers by government

By: Mia Breytenbach     22nd September 2017 While Minister in the Presidency for Planning, Performance, Monitoring, Evaluation and Administration Jeff Radebe’s commented last month that the time taken by government to pay suppliers is improving, small business representative organisation AHI has identified areas where there is room for... 

Big room for improvement in payment of suppliers by government
Photo by Bloomberg
ROOM FOR IMPROVEMENT There still remain outstanding and unpaid invoices of up to R5.3-billion

Legal framework offers model for enhancing transboundary infrastructure investment

By: Mia Breytenbach     22nd September 2017 The United Nations Economic Commission for Africa (Uneca) has unveiled the Model Law that provides a framework for the harmonisation of cross-border rules, regulations, laws and policies governing transboundary infrastructure projects in Africa. The Model Law was unveiled at the yearly Nigerian... 

Legal framework offers model for enhancing  transboundary infrastructure investment
Photo by Duane Daws
PAVING THE WAY The Model Law may aid in additional efficiency, transparency and accountability with regard to public and private sector engagement in transboundary infrastructure

Intercontinental alignment agrees to increased economic cooperation

By: Keith Campbell     22nd September 2017 The five member countries of the Brics alignment – Brazil, Russia, India, China and South Africa – are to strengthen trade and investment between themselves. This was affirmed in the “Xiamen Declaration” issued during the IX Brics Summit in the southeastern Chinese coastal city of Xiamen. The... 

More British funds for trade with South Africa and renewed bilateral commitment to post-Brexit trade

By: Keith Campbell     20th September 2017 British International Trade Secretary (equivalent to Minister in South Africa) Dr Liam Fox announced in Pretoria on Wednesday that his country’s export credit agency, UK Export Finance, has increased the funds available to South African enterprises buying British goods and to British companies... 

More British funds for trade with South Africa and renewed bilateral commitment to post-Brexit trade
Photo by Department of Trade and Industry
Dr Liam Fox (left) and Dr Rob Davies (right) outside the InvestSA One-Stop Shop in Pretoria

Consortium to acquire 30% stake in Ethos Private Equity

By: Creamer Media Reporter      19th September 2017 RMI Investment Managers and Royal Investment Managers (RIM) will, as the RMI & RIM Consortium, acquire a 30% interest in private equity investment firm Ethos Private Equity through a series of transactions. The transactions will include a vendor-facilitated black economic empowerment component... 

Project to unlock local gas economy

By: Marleny Arnoldi     1st September 2017 The pursuit of piped gas into South Africa from Mozambique could unlock South Africa’s gas economy, says investment and project development company Fortune Capital.  

Project to unlock local gas economy
Photo by Bloomberg
UNLOCKING POTENTIAL Fortune Capital is an entity that is going to enable power players to access gas in South Africa Filename:

Cost of rooftop solar can be lowered through use of 12J tax rebate

By: Schalk Burger     1st September 2017 Businesses and property owners can leverage an industrial development-focused tax rebate, Section 12J of the Income Tax Act No 58 of 1962, to reduce the costs of installing solar photovoltaic (PV) systems. Venture capital company Nesa Investment Holdings (NIH) has developed a solar PV rental... 

Servest acquires stake in ICT services company

By: Mia Breytenbach     1st September 2017 International facilities management provider Servest has partnered with investment company Bottega InvestCo in the acquisition of integrated information and communications technology (ICT) services company Getronics. The transaction, which is supported by specialist banking and asset management... 

Servest acquires stake in ICT services company
Photo by Duane Daws
ENABLING TRANSACTION The transaction, will enable Servest to provide a seamless facility management and mobile technology offering for its growing client base

AfDB’s sustainable energy fund to support PV project in Lesotho

By: Mia Breytenbach     25th August 2017 The African Development Bank- (AfDB-) managed Sustainable Energy Fund for Africa (Sefa) has approved a $695 500 grant to NEO I SPV, a subsidiary of independent power producer OnePower Lesotho, to support the preparation of a bankable business case for the development of the winning project of the... 

AfDB’s sustainable energy fund to support PV project in Lesotho
Photo by Bloomberg
WINNING PROJECT The 20 MW solar photovoltaic project is expected to become the first utility-scale solar PV project in Lesotho

Western Cape’s agricultural growth to drive economy

By: Robyn Wilkinson     11th August 2017 Supported by the Western Cape government’s strategic initiatives to help farmers grow their crops – and their market share – the province’s official tourism, trade and investment agency Wesgro has successfully committed investments in the Western Cape agricultural sector of R1.56-billion over the... 

Western Cape’s agricultural growth to drive economy
Photo by Bloomberg
UNIQUE ENVIRONMENT The Western Cape plays a key role in South Africa’s agricultural sector, with a unique rainfall pattern allowing for a mixture of agricultural activities

Fund invests into African rail operator

By: Mia Breytenbach     11th August 2017 The Pan-African Infrastructure Development Fund 2 (PAIDF2) has concluded an investment into Sheltam Mauritius, which is the parent company of the South African locomotive and rail operator Sheltam Group. This investment was made through a share subscription for 30% of Sheltam for an undisclosed sum. 

Fund invests into African rail operator
RAIL POTENTIAL Sheltam will soon officially launch initiatives aimed at adding significant capacity to the company’s ambition of being a significant rail operator on the continent of Africa

IDC addresses transparency, governance concerns 

     3rd August 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about new measures being implemented by the Industrial Development Corporation (IDC) to improve transparency and governance, as well as about the IDC’s investment and disbursement plans for the current financial year. 

IDC addresses transparency, governance concerns
IDC addresses transparency, governance concerns

Education institutions struggling with connectivity

By: Simone Liedtke     28th July 2017 Amid water, electricity and basic infrastructure challenges at various education institutions, the lack of Internet connectivity has also been a challenge, states wireless connectivity firm Ruckus sub-Saharan Africa sales director Riaan Graham. 

Education institutions  struggling with connectivity
RIAAN GRAHAM Connectivity to the Internet is essential and if it is available at a school, WiFi can be used to distribute access to the students

AfDB in $2bn project finance pact

By: Mia Breytenbach     28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... 

AfDB in $2bn project finance pact
Photo by Duane Daws
JOINT CONTRIBUTION The banks’ contribution will finance projects in areas, such as agriculture, food security, renewable energy, small and medium enterprises and human development

Technology, digital solutions part of Botswana firm’s microfinance arsenal as it expands across Africa 

By: David Oliveira     28th July 2017 Botswana-based microfinance company Letshego Holdings, which operates in 11 African countries, aims to use technology and digital solutions to affect economic redress in Africa and provide financial inclusion for the continent’s most underserved markets. Letshego MD Chris Low explains that the... 

Technology, digital solutions part of Botswana firm’s  microfinance arsenal as it expands across Africa
Letshego Holdings MD Chris Low discusses the impact of digital technology on improving financial inclusion for Africa’s underserved. Camerawork and Editing: Darlene Creamer.

May unveils British initiatives aimed at reducing Africa’s reliance on aid

By: Keith Campbell     21st July 2017 British Prime Minister Theresa May used the recent G20 Summit in Hamburg, Germany, to announce a series of new British initiatives intended to reduce the reliance of African countries on aid and increase their long-term stability and prosperity. This was in line with a theme for the summit... 

New tax regime punted as way to spur development of disused or degraded land

By: Dylan Slater     14th July 2017 Using tax increment financing to spur business development on disused or degraded land could be a highly feasible method to repurpose otherwise unusable land, as well as create jobs and encourage entrepreneurs and business in general.  

JSE’s cost savings drive to result in 60 job cuts

By: Megan van Wyngaardt     7th July 2017 The JSE plans to reduce its technology operating expenditure by a minimum of R70-million over a two-year period, which will also result in the stock exchange reducing its staff complement by 60 people. Noting that the plans form part of its ongoing cost optimization drive, JSE CEO Nicky... 

First
Prev
1
2 3 4 Next Last

Latest News

more

Latest Videos

more

Research Reports

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close