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Latest News

Mobile ecosystem adds $150bn to Africa’s economy

By: Natasha Odendaal     Updated 31 minutes ago The mobile ecosystem is now adding in excess of $150-billion – 6.7% of gross domestic product (GDP) – to Africa’s economy, as mobile subscribers pass the 500-million mark and new opportunities for consumers, businesses and governments are unlocked, a new GSMA study shows. The Mobile Economy:... 

Public sector capex tops R1tn in five years

By: News24Wire      Updated 35 minutes ago The public sector’s capital expenditure increased by R14-billion to R272-billion in 2015 alone, according to a report released by Statistics SA on Tuesday. Capital expenditure refers to money spent on the purchasing or improvement of land, buildings, engineering structures, machinery and equipment. 

Customer care now as critical as mobile operator network quality – survey

By: Natasha Odendaal     Updated 39 minutes ago Mobile customer care is now just as important as network quality to consumers as a deciding factor in choosing and staying with a mobile operator, a new report by Nokia has found. Nokia's tenth ‘Acquisition and Retention Study’, which highlights current consumer trends for mobile operators,... 

SAA requires a whole new board – Gordhan

By: News24Wire      Updated 1 hour 28 minutes ago Finance Minister Pravin Gordhan said South African Airways (SAA) requires a whole new board on Tuesday. Speaking at the EY and Johannesburg Chamber of Commerce and Industry (JCCI) business breakfast in Sandton on Tuesday, Gordhan said SAA needs an an experienced management team. 

Fingerprint authentication coming to South African bank cards

By: News24Wire      Updated 1 hour 32 minutes ago New standards to facilitate card payments using fingerprint authentication have been introduced to make transactions more secure and convenient for consumers. The Payments Association of South Africa (PASA), in partnership with Visa and Mastercard, announced on Tuesday a new standardised... 

86 MW Prieska solar plant enters commercial operation

By: Creamer Media Reporter      Updated 4 hours ago The 86 MW Mulilo-Sonnedix-Prieska solar photovoltaic (PV) project, in the Northern Cape, has officially started operating commercially, following 17 months of construction. The R1.3-billion project, which is located on a 125 ha site 50 km south-west of Prieska, comprises 275 000 PV modules,... 

86 MW Prieska solar plant enters commercial operation
The 86 MW solar PV plant near Prieska in the Northern Cape

Revised offer by AB InBev

By: Tracy Hancock     Updated 4 hours ago Multinational beverage and brewing company Anheuser-Busch InBev (AB InBev) has made a revised and final offer for the entire issued and to be issued share capital of JSE-listed SABMiller. This development follows a July 22 conversation between SABMiller’s chairperson and that of AB InBev on the... 

Revised offer by AB InBev

GE aiming to change coal narrative with high-efficiency power solutions

By: Terence Creamer     Updated 4 hours ago Technology group GE is beginning to actively make the case for clean coal, having concluded that coal-fired generation will remain a major, albeit relatively smaller, part of the future electricity mix in many parts of the world. GE Power global sales and marketing leader for steam power systems,... 

GE aiming to change coal narrative with high-efficiency power solutions
Photo by Duane Daws
Michael Keroullé

African Energy, First Quantum advance Botswana coal/power project

By: Megan van Wyngaardt     Updated 4 hours ago ASX-listed African Energy Resources (AFR) is looking to update its mining study to meet the requirements of fuel delivery for a 450 MW integrated coal and power project, up from the 300 MW it had initially planned for its Botswana-based Sese project. The update forms part of the work programmes... 

African Energy, First Quantum advance Botswana coal/power project

Zuma seeks clarity on land expropriation bill

By: Reuters     Updated 4 hours ago South African President Jacob Zuma has asked Parliament to explain the process it followed in passing a bill allowing State expropriations of land to redress racial disparities in land ownership. Land is an emotive issue in Africa's most industrialised country more than two decades after the end... 

AECI reports lower H1 earnings, higher revenue

By: Anine Kilian     Updated 5 hours ago Specialty chemicals and explosives manufacturer AECI on Tuesday reported higher revenue, but lower earnings a share for the six months ended June 30. Headline earnings per share (HEPS) fell 48% year-on-year to 293c, while earnings a share (EPS) decreased 50% year-on-year to 292c. 

Brazilians and Moroccans agree to develop aviation industry in the African country

By: Keith Campbell     Updated 6 hours ago Brazilian aerospace group Embraer and Morocco’s Mohammed VI International Academy of Civil Aviation (AIAC is its abbreviation in French) on Monday signed a memorandum of understanding (MoU) in Casablanca. The aim of the MoU is to develop aviation-related engineering in the North African country.... 

Brazilians and Moroccans agree to develop aviation industry in the African country
Photo by Embraer
Embraer’s latest generation airliner, the E190-E2

South Africa needs to rethink austerity – Gordhan

By: Reuters     Updated 6 hours ago South Africa cannot rely on austerity measures to reduce public debt and boost economic growth, as previously thought, Finance Minister Pravin Gordhan said on Tuesday. Gordhan has been trying to find a balance between reining in spending to contain South Africa's budget deficit and avoid credit... 

South Africa needs to rethink austerity – Gordhan
Photo by Duane Daws
Finance Minister Pravin Gordhan

Ndlovu to head Anglo coal

By: Martin Creamer     Updated 7 hours ago Anglo American Platinum (Amplats) operational processing executive head July Ndlovu has been appointed CEO of Anglo American’s coal business in South Africa. This follows the appointment of Themba Mkhwanazi as CEO of Kumba Iron Ore, following Norman Mbazima’s decision to step down after four... 

Ndlovu to head Anglo coal
Photo by Duane Daws
New Anglo Coal CEO July Ndlovu

Telecoms Minister threatens to sue Icasa over spectrum auction

By: News24Wire      26th July 2016 Telecoms and Postal Services Minister, Siyabonga Cwele, plans suing a local communications regulator over its auctioning off of spectrum for high-speed broadband. In a surprise move, the Independent Communications Authority of South Africa (Icasa) this month invited applicants to apply for... 

Telecoms Minister threatens to sue Icasa over spectrum auction
Photo by Reuters
Telecoms Minister Siyabonga Cwele

Kumba generates cash in tough half-year

By: Martin Creamer     26th July 2016 Anglo American company Kumba Iron Ore on Tuesday reported 20% higher headline earnings a share of R3-billion in the six months to June 30, when its financial performance was supported by strong cash generation. On a normalised basis, the R9.41 headline earnings a share were 4% lower on 11%-less... 

Kumba generates cash in tough half-year
Photo by Duane Daws
Outgoing Kumba CEO Norman Mbazima

Kumba Iron Ore changes guard

By: Martin Creamer     26th July 2016 Anglo American company Kumba Iron Ore on Tuesday announced the appointment of Themba Mkhwanazi as CEO with effect from September 1, following Norman Mbazima’s decision to step down after four years to focus on his role as deputy chairperson of Anglo American South Africa. Mbazima will remain a... 

Kumba Iron Ore changes guard
Kumba CEO designate Themba Mkhwanazi

Fuel cell thrust continuing – Anglo American Platinum 

By: Martin Creamer     25th July 2016 The momentum around fuel cell vehicles as one of the zero-emission technologies of the future is continuing to build as shown by launches and proposed launches of commercially available fuel cell electric vehicles by major car manufacturers. Pictures of fuel cell electric vehicles bearing... 

Fuel cell thrust continuing – Anglo American Platinum
Anglo American Platinum CEO Chris Griffith talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

South Africa to host 11th International Heavy Haul Conference

By: Anine Kilian     25th July 2016 South Africa has won the bid to host the Eleventh International Heavy Haul Association (IHHA) conference, which will be held in Cape Town from September 2 to 6, 2017 at the Cape Town International Convention Centre. The IHHA has partnered with State-owned rail utility Transnet and the South... 

Richards Bay IDZ poised for investment, jobs boost

By: Megan van Wyngaardt     25th July 2016 The Richards Bay Industrial Development Zone (RBIDZ) on Monday opened its R16-million Phase 1A Customs Control Gate Complex. This was followed by a sod-turning event for the zone’s Techno Hub. 

Itac seeks input on steel duties after HRC probe finds imports causing ‘serious injury’ 

By: Terence Creamer     25th July 2016 The International Trade Administration Commission of South Africa (Itac) has concluded that the domestic steel industry is “suffering serious injury” as a result of a surge of imports of hot-rolled coil (HRC). However, it has decided not to impose provisional measures until it has received... 

Itac seeks input on steel duties after HRC probe finds imports causing ‘serious injury’

Lafarge denies allegations of ‘union bashing’

By: Megan van Wyngaardt     25th July 2016 Local construction materials company Lafarge on Monday refuted claims by the Congress of South African Trade Unions (Cosatu) that the company was engaging in union bashing. Last week, Cosatu, together with the community and Tribal Authority of Bodibe, in the North West, marched to Lafarge’s... 

Stanbic receives Côte d’Ivoire banking licence

By: Anine Kilian     25th July 2016 Standard Bank, trading as Stanbic Bank, has been awarded a banking licence in Côte d’Ivoire.  The group opened a representative office in the country in December 2013, signaling a drive towards establishing a presence in Francophone West Africa. 

Africa one of only two regions achieving FDI project growth – EY

By: Anine Kilian     25th July 2016 Sub-Saharan Africa remains one of the fastest growing regions in the world according to advisory firm EY’s 2016 Africa attractiveness programme, entitled Staying the course. This is reflected in the foreign direct investment (FDI) levels in 2015, where FDI project numbers increased by 7%. 

Chamber disputes veracity of Unctad underinvoicing claim 

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Arrowhead seeks to acquire Emira

By: Megan van Wyngaardt     25th July 2016 JSE-listed real estate investment trust (Reit) Arrowhead intends to acquire the majority or all of the issued share capital of fellow listed Reit Emira. Arrowhead plans to implement the proposed transaction by way of a scheme of arrangement, in terms of which Arrowhead will offer 1.67 Arrowhead... 

Hulamin weathers weak H1 with strong exports

By: Megan van Wyngaardt     25th July 2016 JSE-listed aluminium producer Hulamin’s earnings a share increased to 48c apiece for the six months ended June 30, compared with the 24c a share recorded in the six months to June 30, 2015. Headline earnings a share increased to 48c apiece in the six months under review, compared with the 25c... 

Opposition calls for legal opinion on further extension for SAA financials

By: African News Agency      25th July 2016 The Democratic Alliance on Monday urged Parliament’s standing committee on finance to seek legal advice on whether it is allowed to grant National Treasury a third extension in tabling South African Airways’s financial results. "It is in our contention that there is no provision made in the... 

Opposition calls for legal opinion on further extension for SAA financials

685 MW Avon power plant enters commercial operation  

By: Anine Kilian     25th July 2016 The independent Avon peaking power open-cycle gas-fired power plant, near Durban, has started commercial operations. The 685 MW Avon power plant is the second independent power producer project (IPP) in South Africa developed by joint venture (JV) partners France’s Engie, South Africa’s Legend... 

Nafcoc ‘alarmed’ by Eskom move against IPPs

By: Terence Creamer     25th July 2016 The National African Federated Chamber of Commerce and Industry (Nafcoc) has added its voice to those questioning Eskom’s resistance to connecting new independent power producers (IPPs), saying it is “alarmed” by the State-owned electricity producer’s move. In a letter sent to Energy Minister... 

Nafcoc ‘alarmed’ by Eskom move against IPPs

Mozambique closes in on huge gas deal after years of delays

By: Reuters     25th July 2016 Mozambique's long-delayed offshore gas project with Italy's Eni could be approved within months, sources close to the deal said, sparking investments with the potential to transform one of the world's poorest countries into a major energy player. Mozambique made one of the world's biggest gas... 

Afreximbank and Export-Import Bank of China sign billion dollar industrialisation agreement

By: African News Agency      25th July 2016 The African Export-Import Bank (Afreximbank) and the Export-Import Bank of China have signed a cooperation agreement to create a one billion dollar China-Africa Investment and Industrialisation Programme to facilitate the construction and creation of industrial parks and special economic zones on... 

NMMU to get SA's tenth medical school

By: News24Wire      25th July 2016 South Africa’s tenth medical school will be opened at the Nelson Mandela Metropolitan University (NMMU) in Port Elizabeth, the university announced on Sunday. The announcement was made on Saturday by NMMU vice chancellor Professor Derrick Swartz following the government's approval. 

South African bourse published incorrect data on equities trading – SARB

By: Reuters     25th July 2016 South Africa's Johannesburg Stock Exchange (JSE) published incorrect data on foreigners trading of equities from May 31 to July 20 due to a programming error, the central bank said on Monday. The bank said incorrect data had been quoted in the July 21 statement of the Monetary Policy Committee... 

Size of vehicle and asset loans shrinking, suggests Compuscan

By: Irma Venter     25th July 2016 There has been a 29% decrease in the number of vehicle and asset finance (VAF) accounts between the value of R400 001 and R999 999 recorded in the first quarter of 2016, compared with the last quarter of 2015, reports credit bureau Compuscan. Compuscan says this trend suggests that credit... 

Size of vehicle and asset loans shrinking, suggests Compuscan

Anglo American Platinum generates strong free cash flow, cuts debt

By: Martin Creamer     25th July 2016 Anglo American Platinum (Amplats) on Monday reported generating R3.2-billion free cash flow in the six months ended June 30, and cutting debt by R2.9-billion, despite the lower price environment. The leading platinum producer’s sales revenue increased by 3% to R30.7-billion, its earnings before... 

Anglo American Platinum generates strong free cash flow, cuts debt
Photo by Duane Daws
Anglo American Platinum CEO Chris Griffith

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

     25th July 2016 This edition of Creamer Media’s Africa Mining Projects in Progress 2016 (First Edition) reviews recently announced scoping, prefeasibility and definitive/bankable feasibility studies on projects across the continent, as well as the projects that are under way. 

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

G20 officials vow to tackle steel, industrial overcapacity

By: Reuters     25th July 2016 The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday. In a draft statement obtained by Reuters, the G20 finance ministers and central bank... 

G20 officials vow to tackle steel, industrial overcapacity
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