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Latest News

Group Five appoints Mosai as CEO

By: Megan van Wyngaardt     Updated 5 hours ago JSE-listed construction company Group Five has appointed Themba Mosai, who has been acting CEO of the group since March, as CEO, effective immediately. He takes over the reins from Eric Vemer, who moved on to new opportunities. 

DTI refuses to release list of black industrialist scheme beneficiaries for fear they will be ‘harassed’

By: Terence Creamer     Updated 5 hours ago Trade and Industry Minister Dr Rob Davies showcased four recipients of government’s flagship Black Industrialist programme (BIP) during his Budget Vote on Tuesday, but astonishingly refused to release the names of all 46 recipients of the non-refundable government grants and concessional loans.... 

DTI refuses to release list of black industrialist scheme beneficiaries for fear they will be ‘harassed’
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

Eskom tests microgrid technology in Free State

By: Megan van Wyngaardt     Updated 6 hours ago The Eskom Research, Testing and Development (RT&D) unit is building a MicroGrid technology demonstration plant in a rural unelectrified village, near Ficksburg, in the Free State. “This project is a demonstration of next-horizon technology that supports Eskom’s future strategic objectives, as... 

ANC dismisses Zuma removal report as 'fabrication'

By: Reuters     Updated 6 hours ago South Africa's ruling African National Congress (ANC) dismissed a media report on Tuesday that President Jacob Zuma's removal would be discussed at a key party meeting this weekend as untrue. Opposition to Zuma inside the ANC and from opposition parties and civil society groups has swelled since... 

ANC dismisses Zuma removal report as 'fabrication'
Photo by Duane Daws
President Jacob Zuma

Gigaba punts financial sector reform

By: African News Agency      Updated 6 hours ago Finance Minister Malusi Gigaba on Tuesday said National Treasury would support parliamentary processes aimed at regulating the South African financial sector to make the industry inclusive. “The financial sector plays a critical role in our country, but this must be enhanced to achieve the... 

Solidarity, Hospersa worried about proposed bail-out plans for SAA

By: Megan van Wyngaardt     Updated 6 hours ago Trade union Solidarity is demanding answers about whether the Government Employees Pension Fund (GEPF) is considering recapitalising “sinking ship” South African Airways (SAA) through the Public Investment Corporation (PIC), as the union’s members have a direct interest in the proper management... 

Solidarity, Hospersa worried about proposed bail-out plans for SAA

Global steel production rises 5% y/y in April

By: Creamer Media Reporter      Updated 6 hours ago Global steel production, as reported by the 67 member countries of the World Steel Association (worldsteel), rose by 5% year-on-year to 142.1-million tonnes in April. China’s steel production increased by 4.9% to 72.8-million tonnes, while Japan’s output rose 3% year-on-year to 8.8-million tonnes. 

Influx of job seekers to Gauteng threatens economic momentum

By: Megan van Wyngaardt     Updated 6 hours ago Although it has made “remarkable progress” in creating jobs over the mid-term, between May 2014 and November 2016, the Gauteng provincial government (GPG) still faced a rapid increase in the economically active population owing to migration, Premier David Makhura said in his Midterm Report on... 

Rand firms on rumours that ANC to discuss Zuma's removal

By: Reuters     Updated 7 hours ago South Africa's rand firmed more than 1.5 percent against the US dollar on Tuesday on rumours that the African National Congress (ANC) will discuss the removal of President Jacob Zuma at a major party meeting. An ANC spokesperson said the rumours were a "complete fabrication". 

Rand firms on rumours that ANC to discuss Zuma's removal
President Jacob Zuma

Denel set on expanding business in Asia-Pacific region

By: Megan van Wyngaardt     Updated 7 hours ago State-owned Denel on Tuesday said it was dead set on expanding its business in the Asia-Pacific markets, despite an affidavit, lodged by former Treasury director-general Lungisa Fuzile, stating that its joint venture (JV) partner is a technically insolvent company. The aerospace and defence... 

Verimark enters fortieth year with one of its best improved financial performances 

By: Natasha Odendaal     Updated 7 hours ago After some years of static growth and marginal declines, and now in its fortieth year of operation, JSE-listed Verimark on Tuesday reported “one of its best” financial outcomes for the year ended February 28, aided by sales price increases and the strengthening of the rand. Verimark’s headline... 

Verimark enters fortieth year with one of its best improved financial performances
Verimark CEO and MD Michael van Straaten discusses the highlights of the year ended February 28, 2017. Camerawork and videoediting: Nicholas Boyd. Date recorded: 23.05.2017.

Rezidor Group targets 60% jump in Africa hotels by 2020

By: Reuters     Updated 7 hours ago Sweden's Rezidor Group plans to increase by 60% the number of hotels it operates in sub-Saharan Africa to 120 in the next four years to take advantage of growing business travel, its regional head said on Tuesday. The company has been focusing on Africa due to growing demand for well-known... 

Company climate risk disclosure could become mandatory in a few years

By: Reuters     Updated 7 hours ago Companies' disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to disclose the... 

Thos Begbie’s global quality status boosted by on-the-spot Dekra 

By: Martin Creamer     23rd May 2017 The same-site working relationship that Thos Begbie has established with global quality inspectorate Dekra Industrial RSA is giving the prolific exporter of copper castings a commercial edge in its global dealings with mining and smelter-related customers worldwide. Thos Begbie now hosts the... 

Thos Begbie’s global quality status boosted by on-the-spot Dekra
Engineering News Online’s Martin Creamer talks to Thos Begbie’s Edwin Dreyer and Dekra’s Johan Gerber. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel da Silva.

South African Weather Service welcomes new CEO

By: Megan van Wyngaardt     23rd May 2017 The South African Weather Service (SAWS) has appointed Jeremiah Lengoasa CEO. He returns to SAWS after 12 years, after he left the organisation to join the World Meteorological Organisation, in Geneva, Switzerland, as assistant secretary-general in August 2005. 

Solidarity approaches court to revoke Eskom’s employment equity plan

By: Megan van Wyngaardt     23rd May 2017 Trade union Solidarity will on Friday approach the Labour Court in Johannesburg to have State-owned power provider Eskom’s current employment equity plan declared invalid and revoked. Eskom’s employment equity plan is expected to be in force until 2020. Solidarity Centre for Fair Labour Practices... 

Gordhan lays into Eskom board over Molefe

By: African News Agency      23rd May 2017 Former Finance Minister Pravin Gordhan on Tuesday called for the Eskom board to be fired and a full investigation into not only Brian Molefe’s return to the power utility, but his actions in his previous job at Transnet. Gordhan told Parliament’s portfolio committee on public enterprises, of... 

Gordhan lays into Eskom board over Molefe
Photo by Duane Daws
Former Finance Minister Pravin Gordhan

South Africans spoilt for choice when buying new vehicles

By: Irma Venter     23rd May 2017 South African car buyers had access to 55 passenger car brands in 2016, with 3 458 model derivatives to choose from, says National Association of Automobile Manufacturers of South Africa (Naamsa) executive manager Dr Norman Lamprecht. “This afforded car buyers the widest choice to market-size... 

South Africans spoilt for choice when buying new vehicles

Rhodes Food attributes strong interim results to organic growth

By: Megan van Wyngaardt     23rd May 2017 JSE-listed Rhodes Food on Tuesday posted a 14.6% year-on-year increase in net profit to R125-million for the six months ended April 2, while headline earnings rose 15.9% to R126-million. The food producer attributed the growth to sustained strong organic growth in the regional segment, with fresh... 

'Massive' load-shedding looms in Zim as Zesa fails to settle $80m debt to Eskom

By: Reuters     23rd May 2017 "Massive" load-shedding could begin as early as next week in Zimbabwe - because the cash-strapped authorities still haven't settled an $80-million debt to Eskom, the Herald reports. The State-run Zimbabwe Electricity Supply Authority (Zesa) has been unable to keep up with a payment plan agreed... 

I was under the impression that Molefe had resigned, Brown reveals

     23rd May 2017 When Eskom’s Board approached me to inform me of its decision to bring Mr Molefe back, I said I would support it on the proviso that it was legal. I also made this point repeatedly when addressing media on the matter, though – curiously – none of them thought it worthy of reporting. 

I was under the impression that Molefe had resigned, Brown reveals
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Brown drops opposition to legal challenge to Molefe’s reappointment

By: African News Agency      23rd May 2017 Public Enterprises Minister Lynne Brown has withdrawn her opposition to the court application for the reappointment of Brian Molefe as CEO of Eskom be set aside. “I will abide by the decision of the court,” Brown told Parliament’s portfolio committee on public enterprises on Tuesday morning. 

Brown drops opposition to legal challenge to Molefe’s reappointment
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Sasol says maintains output after refinery blast

By: Reuters     23rd May 2017 South African petrochemicals group Sasol said on Tuesday it had enough oil reserves to meet market requirements following an explosion at its 108 000 bbl/d Natref refinery on Monday. The blast at the country's only inland refinery, a venture between Sasol and a South African unit of France's... 

Business body urges ANC NEC to pressurise Zuma to set up State capture inquiry 

By: Terence Creamer     23rd May 2017 Business Leadership South Africa (BLSA) has added its voice to growing calls for the establishment of an independent judicial commission of inquiry into “State capture”, which it says is necessary to restore confidence in the economy and the future of the country. The big business body has also... 

Business body urges ANC NEC to pressurise Zuma to set up State capture inquiry
Photo by Duane Daws
President Jacob Zuma

Cape Town water usage must come down by 100 million litres - city

By: News24Wire      23rd May 2017 Water use in Cape Town must be brought down by 100 million litres immediately, the City of Cape Town said in a statement on Monday. “Dam storage levels are now at 20,7%, which is 0,7% down from a week ago. With the last 10% of a dam’s water mostly not being usable, dam levels are effectively at... 

Glencore predicts Opec insulated from electric vehicle impact

By: Reuters     23rd May 2017 Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Glencore predicts Opec insulated from electric vehicle impact
Glencore chairperson Tony Hayward

South Africa, Namibia collaborate on science statistics

By: Megan van Wyngaardt     22nd May 2017 South Africa’s Human Sciences Research Council’s Centre for Science, Technology and Innovation Indicators (CeSTII) and Namibia’s National Commission on Research, Science and Technology will collaborate on the production of national scientific and innovation statistics, which enables the countries... 

Tribunal fines Giuricich Coastal Projects R900 000 for cover pricing

By: Anine Kilian     22nd May 2017 The Competition Tribunal on Monday issued an order imposing an administrative penalty of R900 000 on construction company Giuricich Coastal Projects for cover pricing in 2008. The Competition Commission said Mondi had invited three construction firms – Giuricich, Grinaker and Stefanutti Stocks –... 

Builders Warehouse launches its first store featuring renewable energy

By: Anine Kilian     22nd May 2017 The North Riding-based Builders Warehouse, which forms part of the Builders Warehouse chain of stores owned by management company Massmart, has installed a 126 kW solar photovoltaic (PV) plant, which comprises 400 roof-mounted polycrystalline PV panels. The plant will provide 70% of the store’s... 

Western Cape declared disaster area to repriotise funding

By: Megan van Wyngaardt     22nd May 2017 The Western Cape was on Monday declared a disaster area, with local government implementing drastic interventions to relieve the distressing water shortage in the province. This includes the drilling of boreholes at hospitals, starting in the metro, and followed by schools in high-risk water... 

BBC, Busa end participation partnership in Nedlac after impasse

By: Natasha Odendaal     22nd May 2017 The Black Business Council (BBC) and Business Unity South Africa (Busa) have walked away from a long-standing partnership after a BBC delegation was kicked out of a National Economic Development and Labour Council (Nedlac) Infrastructure Committee meeting two weeks ago by a Busa delegation. The... 

BBC, Busa end participation partnership in Nedlac after impasse

Entrepreneurs key to unlocking continent’s economy – AfDB report

By: Megan van Wyngaardt     22nd May 2017 With the continent continuing to face sluggish growth, African governments need to integrate entrepreneurship more fully into their industrialisation strategies, the African Development Bank’s (AfDB’s) ‘African Economic Outlook 2017’ suggests. Last year, Africa’s economic growth slowed to 2.2%... 

Aveng Grinaker-LTA nets Heineken brewery expansion contract

By: Creamer Media Reporter      22nd May 2017 Heineken South Africa has awarded Aveng Grinaker-LTA’s building division a two-phase contract for Project Harvest at the Sedibeng Brewery, in Midvaal, Gauteng. The project includes the expansion of the cider production facilities through the addition of new cider base tanks (CBTs) and the... 

Pioneer Foods posts lower earnings as external factors weigh in

By: Megan van Wyngaardt     22nd May 2017 JSE-listed Pioneer Foods on Monday posted a 56% decrease in headline earnings, to R454-million for the six months ended March 31, owing to a “confluence of various inhibitors”, which contributed to a material decline in its profitability. The company noted that maize had been the most significant... 

Opec heads towards supply cut extension as Saudi signals most on board

By: Reuters     22nd May 2017 Opec and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia's energy minister said on Sunday that extending the supply cuts by a... 

Govt officials to receive training on special economic zones in China

By: African News Agency      22nd May 2017 A group of 34 Special Economic Zones (SEZs) practitioners and supporting sector specialists from the trade and industry department (dti), provincial departments, and agencies responsible for implementation of the SEZ programme leave for Tianjin in China on Monday to attend the 4th capacity... 

Govt officials to receive training on special economic zones in China

LafargeHolcim hires Sika boss as next CEO

By: Reuters     22nd May 2017 LafargeHolcim has hired Sika boss Jan Jenisch to take over as CE at the Swiss-French building materials giant, whose previous CEO quit after the company made payments to armed groups in Syria. Jenisch, 50, has been the CEO of adhesives maker Sika since January 2012. Paul Schuler, Sika's regional... 

Hudaco acquires Dished End’s trading assets

By: Anine Kilian     22nd May 2017 JSE-listed Hudaco has acquired the trading assets and liabilities of Dished End, which manufactures the end caps for pressure vessels. Hudaco will pay an initial R36-million, with the total consideration, up to a maximum of R79-million, dependent on the average profits over a three year earn-out... 

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