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Financial News

Gigaba to attend IMF, World Bank meetings  

By: Sane Dhlamini     18th April 2017 Finance Minister Malusi Gigaba’s upcoming trip to the US for the International Monetary Fund (IMF) and World Bank Spring Meetings and further interactions with rating agencies received a thumbs up from Deputy President Cyril Ramaphosa today.  “Well, the Minister is going to the Spring IMF... 

Africa Climate Change Fund embraces new partner contributions

By: Mia Breytenbach     14th April 2017 The African Development Bank (AfDB) approved the conversion of the Africa Climate Change Fund (ACCF) to a multidonor trust fund last month. This conversion brings two new partners to the fund, the governments of Italy and Flanders, Belgium, which are contributing €4.7-million and €2-million... 

Africa Climate Change Fund embraces new partner contributions
Photo by Bloomberg
FINANCE MOBILISATION The Africa Climate Change Fund was established in April 2014 with a €4.725-million contribution from Germany to scale up climate smart development in African countries

Barloworld launches incubation hub to assist SMMEs

By: David Oliveira     31st March 2017 JSE-listed Barloworld launched the Barloworld Siyakhula Incubation Hub at its Barlow Park head office in Sandton, Johannesburg, earlier this month to assist small business suppliers and companies operating in its value chain in overcoming challenges, including market access, finance and skills... 

Lack of reliable power supply hinders Africa’s growth – trade commission

By: Nadine James     17th March 2017 Despite an uptick in planned power-generation projects, it is still fair to say that Africa lacks reliable power supply, which has prevented the continent’s economies from developing in line with their potential, says Austrian Trade Commission Advantage Austria.  “The effects of the lack of... 

Lack of reliable power supply hinders Africa’s growth – trade commission
JOHANNES BRUNNER There is significant interest in Africa in terms of the opportunities available for companies in renewable-energy and energy-storage

Amid challenges, power sector offers massive opportunities

By: Nadine James     17th March 2017 Although the power and electricity sector in Africa faces massive challenges, it also offers massive opportunities, says Power & Electricity World Africa (PEWA) event organiser Terrapinn.  

Amid challenges, power sector offers massive opportunities
MOMENT IN THE SUN Africa’s largest power and electricity event offers innovative, cost-effective means of tackling Africa’s power challenges

Barloworld launches incubation hub to assist in SMME development

By: David Oliveira     14th March 2017 JSE-listed Barloworld on Tuesday launched the Siyakhula Incubation Hub at its Johannesburg offices to assist suppliers and other companies operating in its value chain to overcome challenges such as market access, finance and skills that tend to impact on small, medium-sized and microenterprises... 

New retirement fund for South African expatriates launched

By: Dylan Slater     10th March 2017 A new global retirement fund and medical plan, specifically designed for South African expatriates, has been launched by consulting, technology and outsourcing firm EOH.  

German-backed initiative to help increase use of solar energy in industrial processes

By: David Oliveira     3rd March 2017 The South African National Energy Development Institute (Sanedi) and the Southern African-German Chamber of Commerce and Industry (SAGCCI) announced last month that they had teamed up for the international Solar Payback project, which aims to increase the use of solar thermal energy in industrial... 

Chamber looks to strengthen partnerships in local green economy

By: Nadine James     17th February 2017 The Italian–South African Chamber of Trade and Industries’ chief aim at the 2017 Africa Energy Indaba is to raise awareness among Italian corporations regarding investment opportunities in South Africa’s green economy. Chamber secretary-general Mariagrazia Biancospino says the chamber mediated a... 

Chamber looks to strengthen partnerships in local green economy
LONG STANDING RELATIONSHIP Members of the Italian–South African Chamber of Trade and Industries have been involved in the South African energy sector since 2013

Third Women in Energy conference cohosted at Energy Indaba

     17th February 2017 The yearly Women in Energy conference, organised by the Africa Energy Indaba, will bring together Africa’s leading women in the energy sector for its third iteration on Monday, February 20 at the Sandton Convention Centre in Johannesburg. The Africa Energy Indaba was the first energy conference... 

Third Women in Energy conference cohosted at Energy Indaba
DOING IT FOR THEMSELVES The Women in Energy conference is designed to aid the increase in leadership and development of women involved in the African energy sectors

Conference hopes to catalyse African energy revolution

By: Nadine James     17th February 2017 The 2017 Africa Energy Indaba will enable African energy sector stakeholders to evaluate opportunities and the means to pursue them that could unlock the continent’s energy potential and spark something of an energy revolution, says Indaba organising company Siyenza. “The African continent has... 

Conference hopes to catalyse African energy revolution
BOOSTING ENERGY The Africa Energy Indaba brings together politicians and energy luminaries to envision and catalyse decisions that will enhance access to energy

Exponential increase in the number of power generation projects

By: Nadine James     17th February 2017 The African continent’s large energy deficit has resulted in an exponential increase in the number of power generation projects – both planned and implemented – as well as the number of stakeholders which are a consequence of renewed commercial interest in the African energy sector, says... 

Exponential increase in the number of power generation projects
TSIDISO DISENYANA Foreign investment is targeted at establishing Africa’s green economy, therefore renewables will become a driver of socioeconomic growth

Smarter portfolio choices and lower costs could drive higher returns in 2017

     3rd February 2017 The resource exploration industry has a good chance of achieving double-digit returns in 2017, as smarter portfolio choices and lower costs are already paying off, says analytics business Wood Mackenzie exploration VP Dr Andrew Latham. 

Smarter portfolio choices and lower costs could drive higher returns in 2017
Photo by Bloomberg
EMERGING EXPLORATION THEMES Some of the emerging exploration themes in 2017 include exploration for pipe gas opportunities near undersupplied markets

Expo and conference to focus on major industry trends

     3rd February 2017 In line with significant changes in the power and energy landscapes in Africa, this year’s African Utility Week (AUW) conference and expo will focus on the latest challenges, developments and opportunities in the power and water sectors. “The availability of private investment for power and... 

Expo and conference  to focus on major  industry trends
SOURCING SOLUTIONS The African Utility week conference and expo will gather over 7000 decision-makers from more than 40 countries

Conference aims to foster low carbon economy

By: Tasneem Bulbulia     3rd February 2017 With South Africa’s signing of the Paris Agreement at the United Nations twenty-first Conference of the Parties in 2015 requiring it to have met certain greenhouse-gas emission reduction targets from a mitigation and an adaptation point of view by 2020, this year’s Industrial Efficiency... 

Conference aims to foster low carbon economy
TRANSFORMING INDUSTRIES The Industrial Efficiency Conference aims to guide industries in energy, water and waste efficiency

Indaba to build on momentum in the African mining sector

     3rd February 2017 Following the increasingly brighter global outlook for the mining industry and optimism from the investment community, the Investing in African Mining Indaba (IAMI) 2017 will lead with the theme: ‘Leveraging the next wave of growth: How can you invest in African mining to make long term... 

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

'We want the rand to fall so that when it rises, we will control the economy' - Maine 

By: News24Wire      22nd December 2016 African National Congress Youth League (ANCYL) president Collen Maine says the league wants and needs the rand to fall so that when it rises again, the country's economy will be under their control. "We want the rand to fall, we need those economic turntables. The rand will fall but when it... 

'We want the rand to fall so that when it rises, we will control the economy' - Maine

Moody’s retains Bidvest’s investment rating, outlook negative

By: Ilan Solomons     20th December 2016 While credit ratings firm Moody’s has kept JSE-listed Bidvest’s investment rating at Baa2 for the local currency global scale long-term outlook, it has changed the outlook to negative. However, it also kept the company’s Prime-2 short-term issuer ratings as well as affirmed its Aa1.za national... 

Moody’s retains Bidvest’s investment rating, outlook negative

Rate of growth in social investment by SA corporates stalled in 2016

By: Dylan Slater     16th December 2016 Private sector companies and State-owned enterprises in South Africa spent R8.6-billion on social development during 2015/16, representing a 6% increase in nominal growth from the previous year, according to corporate social investment (CSI) and sustainability consultancy Trialogue.  

Rate of growth in social investment by SA corporates stalled in 2016
HANDBOOK LAUNCH Trialogue director Cathy Duff presents the findings of research into South African corporate social investment expenditure

Consulting engineers ready to help with irregular expenditure fight

By: Dylan Slater     9th December 2016 Firms that are members of nonprofit organisation Consulting Engineers South Africa (Cesa) made known at the yearly Cesa Infrastructure Indaba, that they are ready to partner with government to reduce irregular expenditure.  

Iconic Joburg ice rink being transformed into television production hub

By: David Oliveira     2nd December 2016 The Sky Rink atop the Carlton Centre’s parking lot in downtown Johannesburg always had something of an edge to it. Experienced ice-skaters, often with a cigarette in their mouths, would make little effort to disguise their disdain for beginners as they weaved effortlessly, and at extreme speed,... 

Iconic Joburg ice rink being transformed  into television production hub

Historical corporate social investment reaches end of useful life – ERM

By: Dylan Slater     25th November 2016 New, precise and penetrating methods of measuring social impact are driving radical revisions to corporate social investment (CSI) as practised by big business and global investors, according to sustainability consultancy Environmental Resources Management (ERM) Southern Africa.  

Sarb deputy governor reappointed

By: Sashnee Moodley     7th November 2016 South African Reserve Bank (Sarb) Deputy Governor Francois Groepe has been reappointed in the position by President Jacob Zuma for five years from January 1, 2017. Groepe is the chairperson of the South African Bank Note Company and the South African Mint Company, which are subsidiaries of Sarb.... 

Sarb deputy governor reappointed
Photo by Bloomberg
Sarb Deputy Governor Francois Groepe

New FNB app simplifies financial decision-making when buying or selling property

By: David Oliveira     4th November 2016 First National Bank (FNB) has launched its nav›› Home edition digital financial navigation service last month, which simplifies customers’ financial decision-making when buying or selling property. The service is available on the bank’s mobile app. 

Liberty using 'agile innovation' to create investment products

By: Schalk Burger     4th November 2016 Financial services firm Liberty is using a form of agile innovation to develop new investment products for people outside the affluent and mass affluent categories who do not typically invest because investment products do not suit their lifestyles. Comparing the investment milieu of South Africa... 

Liberty using 'agile innovation' to create investment products
DAVID LLOYD Taking a product that is successful in one sector and transplanting it to another does not constitute innovation

RDR regulations to improve financial services outcomes, Liberty asserts

By: Schalk Burger     28th October 2016 The retail distribution review (RDR) regulations, which must be phased into financial services practices between January and April next year, are aimed at improving the outcomes for consumers and reducing risks for the financial services industry, says financial services and insurance firm... 

Impact of digital disruption starting to be felt by business

By: David Oliveira     28th October 2016 Availability and business recovery company Veeam hosted its VeeamON Tour conference earlier this month, where trend analysis consultancy Flux Trends owner and top South African trend analyst Dion Chang discussed global digital and technology trends that are promoting the “on-demand economy” and... 

Survey shows only modest rise in innovation performance by SA firms

By: David Oliveira     28th October 2016 South African companies have shown only marginal growth in innovation in 2016, business management consultancy Accenture’s Innovation Index finds. A total of 57% of respondents were found to be laggards, 29% acted as leaders in innovation and 8% served as innovation value champions, with an... 

Government, society need joint solution for Fees Must Fall challenge

By: Anine Kilian     26th October 2016 Government has acknowledged concerns raised by various parts of the post-school community regarding free tertiary education, noted Finance Minister Pravin Gordhan in his Medium-Term Budget Policy Statement address on Wednesday. The Fees Must Fall movement, comprising university students demanding... 

Government, society need joint solution for Fees Must Fall challenge

FNB launches property ownership financial navigation tool

By: David Oliveira     19th October 2016 First National Bank (FNB) has launched its nav›› Home edition digital financial navigation service to simplify customers’ financial decision-making when buying or selling property. The service is available on the bank’s mobile app. 

Hard currency availability a challenge for cross-border trade in Africa

By: Simone Liedtke     14th October 2016 An issue that has come into sharp focus for businesses in Africa is the shortage of available hard currency as most capital projects on the continent tend to be funded in US dollars although they may generate their revenue in local currency, says Export Credit Insurance Corporation of South... 

Hard currency  availability a challenge for cross-border  trade in Africa
MANDISI NKUHLU The company enables export trade from South Africa to the rest of the world and also supports cross-border investments

$300m facility for African power, infrastructure projects announced

By: Mia Breytenbach     7th October 2016 Standard Bank of South Africa (SBSA), US overseas development financier Overseas Private Investment Corporation (OPIC) and diversified, community-based financial services company Wells Fargo Bank have announced a $300-million facility to fund power and infrastructure projects in Africa. The... 

Market research shows growth in lift and escalator industries

     23rd September 2016 The global lift and escalator market was valued at $86-billion in 2012 and is expected to grow steadily from 2016 to 2020 spurred by robust demand from Asia, according to a report released last month by market research company Research and Markets. 

Market research shows growth in lift and escalator industries
Photo by Duane Daws
GROWING INDUSTRY Research has shown that there will be an increase in the amount of lifts installed throughout the Middle East

Digital services offering stimulus to wealth management industry

By: Schalk Burger     23rd September 2016 The wealth management industry is ideally positioned to leverage and scale up using digital technology to improve efficiency and responsiveness, despite only 25% of wealth management firms globally offering more than email access to clients. When this is compared with the average... 

DBSA aims to ‘catalyse’ funding to poor munis as it sets R100bn funding goal

By: Terence Creamer     22nd September 2016 The Development Bank of Southern Africa (DBSA) disbursed a record R17.1-billion during its 2016 financial year, up from R13-billion in 2015, with disbursements to the country’s eight metropolitan councils (metros) surging to R7.5-billion from R3.7-billion. CEO Patrick Dlamini said a total of... 

DBSA aims to ‘catalyse’ funding to poor munis as it sets R100bn funding goal
Photo by Duane Daws
Finance Minister Pravin Gordhan and DBSA CEO Patrick Dlamini

Government still struggling to honour 30-day payment promise

By: Mia Breytenbach     16th September 2016 While there has been a consistent improvement in the setting up of systems to enable government institutions to pay suppliers and service providers within 30 days, the pace of the improvement is still inadequate, states Minister in the Presidency for Planning, Monitoring and Evaluation Jeff... 

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