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Sep 13, 2014
State-owned power utility Eskom starts its 100-day countdown for the first power from the first 794 MW Medupi power station unit on Monday September 15, with Unit 6 scheduled to be synchronised at midday on December 24. Synchronisation is the process whereby the...
Sep 12, 2014
Trade union Uasa says the recent fragile performance of the mining and manufacturing sectors is not only the result of protracted strikes across both sectors, which resulted in a “massive” reduction in export figures, but can also be attributed to inadequate...
Sep 12, 2014
Tremendous innovation is under way in Africa, with people shifting their perceptions of what to expect from the continent, says South African trends analyst, Dion Chang. He told the seventh annual Green Building Convention, in Cape Town, that a wave of innovation...
Sep 12, 2014
The Department of Trade and Industry (DTI) aims to improve the enforcement of localisation by having the Auditor General flag as “irregular expenditure” any flouting of buy-local procurement rules by government departments and State-owned companies. Preferential...
Sep 12, 2014
Construction of the R400-million upmarket secure residential property, Zimbali Suites, in KwaZulu-Natal, has started, Kuwait Stock Exchange-listed, integrated mixed-use hotel and resorts developer IFA Hotels & Resorts said on Friday. The sectional title Zimbali...
Sep 12, 2014
Noting a recent report by Statistics South Africa, which recorded an increase in the number of bucket toilets in the Eastern Cape, provincial government said this week that it was studying the contents of the report to ascertain where this increase had occurred and...
Sep 12, 2014
Trade and Industry Minister Dr Rob Davies
Trade and Industry Minister Dr Rob Davies confirmed on Friday that the Hebei Iron and Steel Group, of China, was set to partner with the State-owned Industrial Development Corporation (IDC) on the development of steelmaking capacity based on the raw material...
Sep 12, 2014
JSE-listed Insimbi Refractory and Alloy Supplies on Friday announced that it expected its earnings and headline earnings a share from continuing operations for the six months ended August 31 to be between 22% and 27% lower than that of the prior corresponding period....
Sep 12, 2014
Sep 12, 2014
Sep 12, 2014
Sep 12, 2014
 
 
 
Sep 12, 2014
Africa-focused investment group Heirs Holdings chairperson Tony Elumelu has outlined the company’s ambition to generate at least one-quarter of Nigeria’s power consumption needs in the next five years, building on its existing energy interests in the country, which...
Sep 12, 2014
Through the LaunchLab Pitching Den initiative, the Stellenbosch University (SU) in collaboration with the University of the Western Cape and the University of Cape Town, will this month offer students and members of the public the opportunity to win a share of R80...
Sep 12, 2014
The proposed carbon offset trading scheme, currently being considered by National Treasury, has the potential to be aligned to the carbon budgeting approach set out in the National Climate Change Response Paper (NCCRP) if the right foundation is put in place, a...
Sep 12, 2014
India’s largest commercial bank, The State Bank of India (SBI), plans to grow its footprint in Africa, retaining focus on corporate business, its South African customers and secured small, medium-sized and microenterprises, SBI international banking MD Krishna Kumar...
Sep 12, 2014
Economic growth in Liberia and Sierra Leone could decline by as much as 3.5 percentage points as the worst-ever outbreak of Ebola has crippled the key mining, agriculture and services sectors in the two West African countries, the IMF said on Thursday. Growth in...
Sep 12, 2014
Nuclear medicine is defined by the Department of Medical Physics of the School of Clinical Medicine of the University of the Witwatersrand as “a speciality that makes use of radioactive tracers that emit gamma rays to assess the physio- logical functioning of organs...
Sep 11, 2014
Professor Mosad Elmissiry
The African Union’s New Partnership for Africa’s Development (Nepad) Agency have signed a memorandum of understanding with USAID outlining new commitments to the implementation of the Power Africa Initiative, which was unveiled by President Barack Obama in 2013....
Sep 11, 2014
Despite growing interest and investment in Africa, the lack of complete and good-quality information about African stock markets was contributing to a continued hesitancy by international public companies to list on Africa’s stock exchanges and by foreign investors...
Sep 11, 2014
Maite Nkoana-Mashabane
South Africa and Australia have committed to advance each other’s common interests, while unleashing mutual economic opportunities. This emerged after bilateral consultations between International Relations and Cooperation Minister Maite Nkoana-Mashabane and her...
Sep 11, 2014
 
 
 
 
Sep 11, 2014
Sep 11, 2014
Egypt has signed a $500-million loan with the World Bank to provide natural gas to Egyptian households, the government said in a statement on Thursday. The loan will help fund a Petroleum Ministry plan to connect 850 000 Egyptians, particularly in largely rural Upper...
Sep 11, 2014
Liquid Telecom, which is majority owned by Econet Wireless Global, plans to spend $200-million across the African countries where it operates over the next year to expand its network, a company executive said on Thursday. Liquid Telecom is constructing a fibre optic...
Sep 11, 2014
Encouraged by the industrial and tourism potential of Port Elizabeth and driven by its partnership with gas company Air Products, liquefied petroleum gas (LPG) supplier and distributer Reatile Gaz on Thursday officially opened a new LPG depot and cylinder filling...
Sep 11, 2014
President Jacob Zuma
The big increase in South Africa's national debt relative to GDP in the past five years is a strategic move aimed at spurring economic recovery, President Jacob Zuma said on Thursday. "The increase... reflects the adoption of a counter-cyclical strategy in response...
Sep 11, 2014
South Africa's manufacturing production fell more than expected to -7.9% year-on-year in July, from a revised 0.2% expansion in June, Statistics South Africa said on Thursday. On a month-on-month basis, factory production was down 3.6%, and fell 2% in the three...
Sep 11, 2014
Richard Anamoo and Tau Morwe
South Africa’s Transnet National Ports Authority (TNPA) has signed another agreement with an African harbour authority as part of its strategy to support regional-integration efforts. Its latest memorandum of understanding (MoU) has been signed with the Ghana Ports...
Sep 11, 2014
AltX-listed investment holding company Huge Group on Thursday said it had paid the R10-million settlement amount owed to telecommunications company MTN and that all legal action instituted by MTN against the group would be withdrawn. This comes after Huge announced...
Sep 11, 2014
Bidvest CEO Brian Joffe
After announcing earlier this month that it would evaluate the potential benefits of listing its food service operations on the LSE, consumer goods group Bidvest has appointed Barclays Bank and Investec Bank to carry out preliminary investigations to determine the...
Sep 11, 2014
Aspen Pharmacare is to sell the rights to market a blood clot drug in the US to rival Mylan Inc for up to $300-million, it said on Wednesday, a move that would help Africa's top generic drugmaker pay down debt. Mylan will pay an initial $225-million and the rest...
 
 
 
 
Sep 11, 2014
Sierra Leone has cut its 2014 economic growth forecast to 7% or 8% as an Ebola outbreak cripples business in the iron ore-exporting West African country, the government said on Wednesday. The economic outlooks for Guinea and Liberia, two other mining-dependent West...
Sep 11, 2014
Sep 10, 2014
Unctad economist Alex Izurieta
Given the insufficiency of global demand, it is highly unlikely that international trade alone will be able to kick-start economic growth, a new United Nations Conference on Trade and Development (Unctad) report argues. The Trade and Development Report 2014 notes...
Sep 10, 2014
JSE-listed Aspen Pharmacare on Wednesday reported gross revenue of R31.4-billion for the year ended June 30, up 51% year-on-year, while operating profit increased 47% to R7.4-billion, driven largely by the group’s international business segment. Aspen also reported a...
Sep 10, 2014
Article contains comments
Minister in the Presidency Jeff Radebe said on Monday that government had made “great” progress in countering corruption within State institutions, noting that President Jacob Zuma had, since 2009, signed 36 proclamations authorising the Special Investigating Unit...
Sep 10, 2014
The Innovation Group insurance managing executive Jonathan Holden
The introduction of telematics into the automotive industry would change the motor insurance landscape over coming years, with consumers expecting solutions tailored to their individual driving behaviour, business process services and software solutions provider The...
Sep 10, 2014
As part of government’s Expanded Public Works Programme to create job opportunities and alleviate poverty, about 50 emerging construction contractor-owners from across the Western Cape are currently receiving training by the Western Cape Department of Transport and...
Sep 10, 2014
Article contains comments
A recent report by Rand Merchant Bank (RMB) has revealed a drop in Africa’s investment attractiveness ratings in 2014, with 22 countries receiving lower scores than last year. The fourth yearly ‘Where to Invest in Africa 2014/15 – A Guide to Corporate Investment’...
Sep 10, 2014
East Africa's Rift Valley Railways, operator of the only rail line linking Kenya's Indian Ocean coast with Uganda, said on Wednesday it had funding of 2.2-billion Kenyan shillings ($24.80-million) to buy 20 locomotives to be delivered by next April. Rift Valley...
Sep 10, 2014
Gas provider African Oxygen (Afrox) has retained its key contract to supply energy group Sasol with compressed gases until December 31, 2020. With the yearly value of compressed gas sales to Sasol currently at R26-million, this five-year contract extension was...
 
 
 
 
Sep 10, 2014
After over six months of negotiations between Aim-listed Ncondezi Energy, the Mozambique Department of Energy (DoE) and Mozambique State-owned power utility Electricidade de Moçambique (EDM), the coal asset developer said on Monday that it had reached a commercial...
Sep 10, 2014
The South African Chamber of Commerce and Industry’s (Sacci’s) seasonally adjusted Trade Activity Index (TAI) contracted by four index points for the second consecutive month in August, ending the month at 43 points – nine points below the seasonally adjusted TAI of...
Sep 10, 2014
Independent African upstream oil and gas company SacOil has inked a deal to acquire Cyprus-based exploration and production company Mena International Petroleum (MIP) from Mena International Petroleum Holdings (Mena) – a wholly-owned subsidiary of Toronto-listed Mena...
Sep 10, 2014
Article contains comments
Zimbabwe has had to "cough up" $180-million in Chinese loan repayments or face losing its credit line, its finance minister said on Wednesday, in a sign Beijing is tightening its lending terms and expects debtors to be more accountable. In the absence of funding from...
Sep 10, 2014
After recently announcing the close of its second affordable housing fund – Fund II – global private equity investor International Housing Solutions (IHS) says it has attracted some R1.5-billion in investment from prominent entities, including the National Housing...
 
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