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Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision

By: Terence Creamer     Updated 49 minutes ago State-owned power utility Eskom has rejected calls for its 2018/19 tariff to be capped at the level of inflation, arguing that such a move would be financially unsustainable as it would result in a revenue reduction, which would further squeeze its liquidity and could place the country’s credit... 

Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision
Photo by Duane Daws
Nersa fulltime regulatory member for electricity Mbulelo Ncetezo says decision should be announced on December 7

Barloworld will consider logistics exit should unit not meet September targets

By: Irma Venter     Updated 2 hours 3 minutes ago Barloworld may exit its logistics business should it not reach certain milestones by September next year, says CEO Dominic Sewela. Barloworld Logistics is currently the focus of a turnaround strategy under new divisional CEO, Kamogelo Mmutlana, who took control of the business in March. 

Barloworld will consider logistics exit should unit not meet September targets

Business Leadership SA reveals business contribution of R1.9tn to GDP

By: African News Agency      Updated 3 hours ago Business Leadership South Africa (BLSA) chief executive, Bonang Mohale, revealed on Monday that business contributed R1.9-trillion to the country’s GDP, employing seven times more people than government. “We are saying business is the answer, not the enemy. Business is going to play its goal... 

Business Leadership SA reveals business contribution of R1.9tn to GDP
Photo by Duane Daws
BLSA CEO Bonang Mohale

Continued apartment demand supports Balwin’s top-line growth in H1

By: Mia Breytenbach     Updated 5 hours ago Despite a tough operating environment, residential property developer Balwin Properties continued to perform well in the six months ended August 31, with the group’s revenue up 19% year-on-year to R894-million. The increase was driven by good sales volumes, which were in line with forecasts,... 

Continued apartment demand supports Balwin’s top-line growth in H1
Balwin Properties CEO Steve Brookes

Accelerate ends half-year on strong note, acquires Poland portfolio

By: Megan van Wyngaardt     Updated 4 hours ago Despite the uncertain macroeconomic and political environment, the value of Accelerate Property Fund’s property portfolio increased by 30% year-on-year to R11.8-billion in the six months ended September 30, resulting in a total gross lettable area (GLA) of 637 577 m², it said on Monday. The... 

Accelerate ends half-year on strong note, acquires Poland portfolio

Dawn’s turnaround plan starts to yield results

By: Anine Kilian     Updated 1 hour 14 minutes ago Despite tough economic conditions in South Africa, JSE-listed Distribution & Warehousing Network (Dawn) narrowed its loss by 71% to R105-million for the six months to September 30, compared with a loss of R367-million in the first half of the prior financial year. Dawn CEO Edwin Hewitt commented... 

TNPA completes R39m infrastructure upgrade at Port Nolloth

By: Anine Kilian     Updated 1 hour 8 minutes ago The Transnet National Ports Authority (TNPA) has completed the R39-million rehabilitation of the infrastructure of Port Nolloth on the north-western coast of South Africa. The infrastructure upgrade was carried out by contractor Steffanuti Stocks Marine over 14 months, with 25% of the contract... 

Rail operational incidents reach 7yr low, but safety incidents increase

By: Dylan Slater     Updated 2 hours 29 minutes ago Operational incidents related to South Africa’s railways decreased by 5% during 2016/17, reaching a seven-year low of 4 066 incidents, compared with 4 250 in the prior year.  

Rail operational incidents reach 7yr low, but safety incidents increase
The Railway Safety Regulator is committed to achieving its goal of “zero occurrences”

Astral Foods trumps difficult trading period with sterling FY17 results

By: Megan van Wyngaardt     Updated 1 hour 58 minutes ago JSE-listed Astral Foods on Monday attributed the 96.8% increase in headline earnings a share to R18.99 for the year ended September 30 to the recovery in poultry profits during the second half of the financial year. “Stable prices for poultry products during the winter months, together with... 

Adverse trading conditions slash Pioneer Foods' earnings by half

By: African News Agency      Updated 2 hours 53 minutes ago South African food group Pioneer said on Monday its adjusted headline earnings per share for the year ended 30 September 2017 fell by half, largely due to constrained trading conditions. The company also said maize procurement in the period to May had been hit by severe drought in the northern... 

South African Reits make their mark among South Africa’s top listed companies

By: Anine Kilian     Updated 56 minutes ago South African real estate investment trusts (Reits) rank high among the country’s top companies that earn the most for shareholders.   The sector featured strongly overall in the list of the Top 100 Companies on the JSE for performance. South African Reits made up a significant 12% of the Top 100... 

Growthpoint says spends R85m in furniture retail park revamp

By: African News Agency      Updated 3 hours ago South African property group Growthpoint said on Monday it had revamped an ageing retail warehousing entity in the plush district of Sandton, at a cost of R85-million. The company said in a statement the year-long upgrade and expansion project had modernised the retail park and increased its size... 

First commercial solar insurance launched in South Africa

By: African News Agency      Updated 6 hours ago South African firms All Power Systems and Synthesis said on Monday they had launched the country’s first commercial solar savings insurance to protect companies from risks associated with adverse weather and system failure. In a statement, the companies said firms using rooftop solar energy faced... 

Table Mountain Group Aquifers could augment Cape Town’s water supply more permanently, says mayor De Lille

By: African News Agency      20th November 2017 The Table Mountain Group Aquifers (TMGA) have the potential to develop a large scale scheme to augment the City of Cape Town’s water supply on a more permanent basis, mayor Patricia de Lille said on Sunday. De Lille on Sunday visited the site of a pilot project for the abstraction of water from... 

South African ports ready for bumper cruise season

     Updated 4 hours ago More than 20 luxury cruise ships operated by 17 international cruise lines will call at South Africa’s ports during the 2017/18 cruise season. “As the South African port authority, we have positioned Durban and Cape Town as stimulus cruise home ports, while Richards Bay, Mossel Bay, Port... 

South African ports ready for bumper cruise season

Omnia expects higher interim earnings

By: Megan van Wyngaardt     Updated 5 hours ago Local chemicals company Omnia expects to report a 26.1% to 31.1% year-on-year increase in earnings a share to between 414.78c and 431.23c, for the six months to September 30. Headline earnings a share are forecast to increase by 28.8% to 33.8% to between 412c and 428c. 

Shell collaboration helps power London buses with coffee waste

By: Nica Schreuder     20th November 2017 International energy and petrochemicals group Shell, in partnership with London-based clean technology company bio-bean and UK biodiesel producer Argent Energy, is helping power some of London’s buses through a new coffee biodiesel project – launched on Monday – which uses a biofuel made partly... 

Egypt, Ethiopia deadlocked on dam studies

By: African News Agency      Updated 6 hours ago Egypt and Ethiopia have reached a deadlock in further studies on the effects of the Ethiopian Grand Renaissance Dam (GERD) on downstream countries, Egyptian Al Ahram newspaper reports. This information was conveyed by Egyptian Foreign Minister Sameh Shoukry to US Secretary of State Rex Tillerson... 

Electric cars not ready for mass production yet – Toyota chairman to Spiegel

By: Reuters     20th November 2017 Battery-powered cars are not ready for mass production yet, the chairman of Japan's Toyota Motor Corp told a German magazine, adding that he did not see US electric vehicle pioneer Tesla as a role model. "Battery-powered cars with a long range are very expensive and it takes a long time to charge... 

Zuma vows govt will continue supporting embattled SAA

By: Reuters     20th November 2017 The government will continue supporting South African Airways (SAA) as the airline rebuilds itself, President Jacob Zuma said on Saturday. "We will support SAA on its path towards renewal," said Zuma who was speaking at the launch of the KZN Invest SA One Stop Shop in Durban. 

The sooner Guptas leave SA, the better – Gordhan

By: News24Wire      20th November 2017 Former finance minister Pravin Gordhan has said the sooner the Guptas get out of South Africa, the better for the country. He was speaking at the Congress of Business and Economics dinner on Saturday, where they were paying tribute to heroes who have created a legacy that will benefit South Africa. 

The sooner Guptas leave SA, the better – Gordhan
Photo by Reuters
Former Finance Minister Pravin Gordhan

NUM postpones planned coal sector strike

By: Creamer Media Reporter      17th November 2017 The National Union of Mineworkers (NUM) will postpone its planned strike in the coal sector, as some coal companies have decided to table new offers to NUM members. The union on Friday said the coal companies would present the new wage offers on Monday, after which the union would decide to... 

TNPA launches uMkhomazi tug

By: Megan van Wyngaardt     17th November 2017 Transnet National Ports Authority (TNPA) on Friday launched its penultimate tug as part of its R1.4-billion, nine-tug construction contract. The uMkhomazi tug, which means “place of cow whales” in Zulu, will serve at the Port of Durban. The moniker was given by the Zulus in reference to large... 

Icasa publishes second draft of End-User and Subscriber Service Charter

By: Natasha Odendaal     17th November 2017 The Independent Communications Authority of South Africa (Icasa) has published a second draft of the End-User and Subscriber Service Charter regulations for public input. Interested stakeholders have until January 3 to submit their written comments, following which, Icasa will host public... 

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Sampling confirms lithium in Namibia – Montero
Montero CEO Dr Tony Harwood

Benin government requests MTN Benin CEO to leave the country

By: Natasha Odendaal     17th November 2017 The Benin government has ordered MTN Benin CEO Stephen Blewett to leave the country within seven days. Blewett, who has lived in the country since 2015, on Friday received official notification to exit the country by November 24 on the basis of his alleged engagement in “activities detrimental to... 

Sasol shareholders approve new R21bn BEE structure

By: Megan van Wyngaardt     17th November 2017 Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented... 

Artificial intelligence wins big at Mercedes-Benz SA Innovation Challenge

By: Irma Venter     17th November 2017 Artificial intelligence (AI) solutions secured big wins at the Mercedes-Benz South Africa (MBSA) Innovation Challenge, held on November 10. The winners were announced following a judging process by a panel that included representatives from MBSA’s parent company, German car maker Daimler. 

Artificial intelligence wins big at Mercedes-Benz SA Innovation Challenge

Climate change implementation now urgent – Molewa

By: Megan van Wyngaardt     17th November 2017 Environmental Affairs Minister Edna Molewa has called on all developed countries to urgently implement their pre-2020 pledges, including the provision of additional, new and predicable support to developing countries to reduce the effects of climate change. Speaking at the Bonn climate... 

Climate change implementation now urgent – Molewa

Eskom’s business model is ‘no longer fit for purpose’

By: Terence Creamer     17th November 2017 Organised business made an impassioned plea this week for government to urgently review Eskom’s business model, which it said was “no longer fit for purpose”. In a presentation to the National Energy Regulator of South Africa, business also warned that, in the absence of a holistic view within... 

Eskom’s business model is ‘no longer fit for purpose’
Photo by Duane Daws
Busa VP Martin Kingston

City of Cape Town gearing up for battle to directly procure power from IPPs

By: Kim Cloete     17th November 2017 The City of Cape Town says it is prepared for a legal battle with the National Energy Regulator of South Africa (Nersa) in a bid to directly procure power from independent power producers (IPPs). This was the culmination of two years of trying to get permission, said City of Cape Town enterprise... 

New antenna concept from CSIR promises savings for wireless sensor networks

By: Keith Campbell     17th November 2017 A team at the Council for Scientific and Industrial Research's (CSIR's) Meraka Institute has developed a novel concept to extend the power consumption of fixed wireless sensor networks. This was unveiled at the CSIR Licensing & Ventures Dragons Den event at the CSIR International Convention... 

Building pipeline in Aus sees Probuild contribute 60% of WBHO revenue

By: Irma Venter     17th November 2017 Wilson Bayly Holmes-Ovcon’s (WBHO’s) Australian subsidiary, Probuild, has been named the most active construction company in the country by the Australian Housing Industry Association Construction 100 Report. Probuild has jumped from fifth place last year to top spot, in terms of work procured. 

Building pipeline in Aus sees Probuild contribute 60% of WBHO revenue
The Towers and Ritz Carlton

Alvern Cables to pay R4.7m penalty for price fixing, dividing markets 

By: Anine Kilian     17th November 2017 Power cable supply company Alvern Cables has admitted that it engaged in price fixing and market division tendering from November 2001 to November 2012, the Competition Tribunal said in a statement on Friday. The tribunal has confirmed an administrative penalty of R4 .7-million, which is 5% of... 

Joburg’s anticorruption unit clamps down on corruption amounting to R16.2bn

By: Natasha Odendaal     17th November 2017 Corruption amounting to R16.2-billion across 2 469 cases, now under investigation, has been uncovered over the past year by the City of Johannesburg’s anticorruption crackdown. Since inception, the Group Forensic and Investigations Department had implemented measures to clamp down on fraud and... 

Joburg’s anticorruption unit clamps down on corruption amounting to R16.2bn
Johannesburg Mayor Herman Mashaba

New $200 000 Tesla Roadster speeds in front of electric big-rig truck

By: Reuters     17th November 2017 Tesla Inc upstaged its own debut of an electric heavy duty truck on Thursday when a red Roadster pulled out of the big rig’s trailer and Chief Executive Elon Musk said the new $200 000 sports car would be the fastest production car ever. The showmanship wowed the crowd although some analysts’... 

Water-scarce Cape Town holding 'Day Zero' talks with police, army

By: News24Wire      17th November 2017 Cape Town Mayor Patricia De Lille is in talks with the police and the army to prepare for May 13 2018 - the day the taps are now anticipated to run dry around the city, with water only available at collection points, she said on Thursday. "The City is consulting with the South African Police... 

Siemens to cut 6 900 jobs to tackle flailing turbines business

By: Reuters     17th November 2017 Siemens will cut about 6 900 jobs, or close to 2% of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables. Most of the cuts, about 6 100, will be made before 2020 at Siemens's Power and Gas division, which once thrived on supplying large... 

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