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Latest News

DLO Energy Resources invests in 30 MW solar plant in Nigeria

By: Tasneem Bulbulia     10th December 2018 South African clean energy development company DLO Energy Resources Group is investing in a solar farm project in Nigeria’s Kaduna state to power its green industrial zone. DLO MD and founder Linda Mabhena-Olagunju and Kaduna state Governor Nasir Ahmad el-Rufai this week signed a memorandum of... 

MAS acquires Atrium mall in Arad, Romania

By: Tasneem Bulbulia     10th December 2018 MAS has, through a subsidiary of PKM Investments, acquired the Atrium shopping centre in Arad, Romania, from Cosmovia Holdings. The acquisition forms part of the company’s acquisition pipeline in central and eastern Europe (CEE) and complements MAS’s income-generating portfolio of assets in the... 

MAS acquires Atrium mall in Arad, Romania
The Atrium shopping centre

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges 

By: Marleny Arnoldi     10th December 2018 Johannesburg Mayor Herman Mashaba on Monday said the mayoral committee has approved another 100 buildings to be released for private sector development, as part of the metro’s inner city development programme. Following this, national government will give its stamp of approval and the... 

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges
Johannesburg Mayor Herman Mashaba discusses city shortfalls. Video and editing: Nicholas Boyd

E-hailing goods service Droppa to expand to WCape, KZN next year 

By: Irma Venter     10th December 2018 It’s like Uber, but for goods, not people. New e-hailing service Droppa allows you to book a small bakkie or truck to pick up and deliver that fridge that needs moving, or those chairs required at a wedding, or to take home that dinner table you just bought. Droppa is the brainchild of... 

E-hailing goods service Droppa to expand to WCape, KZN next year
Photo by Dylan Slater
Khathu Mufamadi

Bloodhound supersonic car project halted

By: Tasneem Bulbulia     10th December 2018 Project Bloodhound, the initiative to break the land-speed world record, has been halted, owing to a lack of funds, BBC News and other media reported at the weekend. Engineering News in October reported that Bloodhound Programme, the UK company behind the project, had entered into administration,... 

Rooibos tea enjoys a rosy outlook from international markets

By: African News Agency      10th December 2018 Rooibos, which is exclusively farmed in the Cederberg and Sandveld areas of the Western Cape, is fast becoming one of the most attractive agricultural products to invest in, the South African Rooibos Council (SARC) said on Monday. The SARC said that South Africa holds a competitive advantage in a... 

Transnet goods train derails, blocks major line in Cape Town

By: News24Wire      10th December 2018 A Transnet goods train derailed between Tygerberg and Bellville railway stations in Cape Town on Monday, severely delaying commuter services. "Under current circumstances, delays could exceed 120 minutes," Metrorail spokesperson Riana Scott said. Scott said the derailment occurred around 08:30... 

MTN says still in talks with Nigerian authorities

By: Reuters     10th December 2018 South African telecoms firm MTN Group was still in talks with Nigerian authorities over an $8.1-billion dispute and a $2-billion tax demand in a bid to reach an agreement, Africa's biggest mobile operator said on Monday. The dispute is over the transfer of $8.1-billion of funds which Nigeria's... 

South Africa needs to bail out Eskom, says former Eskom adviser Rothschild 

By: Reuters     10th December 2018 The South African government needs to "bite the bullet" and bail out struggling state-run power firm Eskom, which has asked for R100-billion ($7-billion) in government support, the chief executive of Rothschild & Co in South Africa told Reuters. Rothschild advised Eskom in 2008 when it last... 

Liquid to invest $400m in Egypt over three years

By: Natasha Odendaal     10th December 2018 Pan-African telecoms group Liquid Telecom plans to inject $400-million into Egypt’s network infrastructure and data centres over the next three years. This follows the signing of a partnership agreement between Telecom Egypt, which is working to connect Egyptian businesses to the rest of Africa... 

Egypt's Carbon Holdings secures $1.25bn to build petrochemicals complex

By: Reuters     10th December 2018 Egypt's Carbon Holdings has secured $1.25-billion in financing to build a giant petrochemicals complex in the Red Sea port of Ain Sokhna. The Tahrir Petrochemicals Complex, a $10.9-billion project, would be the largest in the Middle East and is expected to create 48 000 jobs. 

Egypt aims to kickstart African trade as it takes AU chair

By: Reuters     10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

South Africa's key economic, political risk events in 2019  

By: Bloomberg     10th December 2018 In 2018, South Africa got a new president, two new finance ministers and slumped into a recession. Next year may be even more bumpy. Here’s a look at the key economic and political risk factors to watch out for in 2019: 

New CSIR board unveiled

By: Rebecca Campbell     10th December 2018 Science and Technology Minister Mmamoloko Kubayi-Ngubane announced the new board for the Council for Scientific and Industrial Research (CSIR) on Monday. The CSIR is a multidisciplinary research and development (R&D) organisation that falls under the aegis of the Department of Science and... 

Eskom says no load shedding scheduled for Monday, but risk remains high

By: African News Agency      10th December 2018 Power utility Eskom said on Monday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. The troubled power utility... 

Eskom says no load shedding scheduled for Monday, but risk remains high

Asset managers team up to pressure governments on climate change

By: Bloomberg     10th December 2018 Institutional investors increasingly concerned about climate change have teamed up to ask governments to set tougher policies. A group of 415 investors overseeing $32-trillion in assets has signed a letter asking governments to phase out thermal coal, set a price on carbon emissions and end... 

Ghosn, Nissan indicted in Japan as pay scandal escalates

By: Bloomberg     10th December 2018 Carlos Ghosn was indicted in Tokyo three weeks after his arrest for understating his pay at Nissan Motor, which will also face charges as Japanese prosecutors step up the investigation that has shaken the global car industry. The former Nissan chairman was also re-arrested on allegations of... 

Ghosn, Nissan indicted in Japan as pay scandal escalates

Energy Minister 'very confident' in new Necsa board

By: Rebecca Campbell     7th December 2018 The new chairperson of the board of the State-owned South African Nuclear Energy Corporation (Necsa), Dr Rob Adam, has given the assurance that the new board and interim CEO would be able to restore the beleaguered entity. He was talking, via video link, at a media briefing in Pretoria on Friday.... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line 

By: Martin Creamer     7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line
Crucial iron-ore line back on track after rapid bridge restoration

Energy Minister highlights 'defiance' by Necsa CEO, board chairperson

By: Rebecca Campbell     7th December 2018 Energy Minister Jeff Radebe confirmed at a media briefing on Friday that South African Nuclear Energy Corporation (Necsa) CEO Phumzile Tshelane had been subject to "precautionary suspension". The CEO is an ex-officio member of the Necsa Board. A totally new Necsa Board was announced this week.... 

National minimum wage of R20 an hour to take effect on Jan 1

By: African News Agency      7th December 2018 The national minimum wage will kick in on January 1, meaning no South African worker will earn less than R20 an hour in the new year, President Cyril Ramaphosa announced on Friday. "We are here to declare that from 1 January 2019 the national minimum wage shall be introduced. No worker in South... 

National minimum wage of R20 an hour to take effect on Jan 1
President Cyril Ramaphosa

Comments received for proposals to reform key interests rate

By: Tasneem Bulbulia     7th December 2018 The South African Reserve Bank’s (SARB’s) initial assessment of the comments received on the proposals for the reform of key interest rate benchmarks used in South Africa is that there is broad-based in-principle support for the recommended reforms. This follows after the SARB in August embarked... 

Radebe denies allegations of corruption regarding his Necsa actions

By: Rebecca Campbell     7th December 2018 Energy Minister Jeff Radebe has emphatically denied imputations that his dismissal of the previous board of the South African Nuclear Energy Corporation (Necsa) was motivated by a desire for personal enrichment. These allegations were "complete balderdash" he told a media briefing held in... 

The switch to EVs needs plugs on the world's remotest roads

By: Bloomberg     7th December 2018 The whole four-hour drive to Coober Pedy, Wiebe Wakker knew the inevitable was coming. Less than 15 miles outside town, a sun-scorched outpost of Australia’s Outback that’s served as a backdrop for Mad Max movies, the battery of his electric car ran out. Wakker, a 31-year-old Dutchman, steered... 

Wakkerstroom residents want R13m water pipeline project halted

By: News24Wire      7th December 2018 Residents of Wakkerstroom in Mpumalanga have called for a R13-million water pipeline project to be halted, saying it will put their water supply at risk. Speaking via the Wakkerstroom Interest Group (WIG), they say the pipeline project - from Martin's Dam, above the Wakkerstroom Wetland, to... 

Previous Necsa board inept, defiant – Radebe 

By: Rebecca Campbell     7th December 2018 Energy Minister Jeff Radebe has made most serious allegations against the previous and recently dismissed board of the State-owned South African Nuclear Energy Corporation (Necsa). He was briefing the media, in Pretoria, on Friday. He accused the previous board members of failing to properly and... 

Previous Necsa board inept, defiant – Radebe
Photo by Bloomberg
Energy Minister Jeff Radebe

South Africa axes state nuclear firm Necsa's board

By: Reuters     7th December 2018 South African Energy Minister Jeff Radebe said on Friday that the government had replaced the entire board of directors of State-run nuclear firm Necsa and suspended its chief executive over problems with how it was governed. The previous Necsa board included prominent backers of plans to expand... 

South Africa axes state nuclear firm Necsa's board
Energy Minister Jeff Radebe

Dawn expects interim headline loss a share to widen

By: Marleny Arnoldi     7th December 2018 JSE-listed Distribution and Warehousing Network (Dawn) on Friday advised its shareholders that it expects its headline loss per share (HLPS) for the six months ended September 30, to deteriorate by between 174% and 188%. It expects to report a HLPS of between 37.6c and 39.5c, compared with the... 

Eskom should weigh selling its crown jewels, FirstRand CEO says

By: Bloomberg     7th December 2018 State-owned Eskom should consider selling two coal-fired plants that rank among the world’s biggest to repair the state-owned utility’s finances, according to the head of South Africa’s biggest bank by market value. The supplier of almost all of South Africa’s power is being battered by declining... 

Gibela delivers its first South African made train to PRASA 

By: Irma Venter     7th December 2018 Gibela has delivered its first South African-built X’trapolis Mega commuter train to the Passenger Rail Agency of South Africa (PRASA). The train was dispatched from Gibela’s new train manufacturing complex at Dunnottar, in Ekurhuleni, this week, travelling to Prasa’s Wolmerton depot, north of... 

Gibela delivers its first South African made train to PRASA
The first South African-built X’trapolis Mega commuter train on its way to the Wolmerton depot

Mammoet opens new office in Accra, Ghana

By: Tasneem Bulbulia     7th December 2018 Dutch company Mammoet is expanding its footprint in Africa with the opening of a new office in Accra, Ghana. The new base in Ghana will increase Mammoet’s offerings of specialist services in engineered heavy lifting and transport to the fast growing West African market, allowing for more... 

Mammoet opens new office in Accra, Ghana
Mammoet specialises in heavy lifting and transport

Opec goes back into crunch talks as Russia resists big oil cut

By: Bloomberg     7th December 2018 The Organisation of Petroleum Exporting Countries (Opec) prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After a six-hour meeting in Vienna, Saudi Energy Minister... 

Ghosn is said to be indicted in Japan as soon as Monday

By: Bloomberg     7th December 2018 Three weeks after his arrest at a Tokyo airport, Carlos Ghosn is set to be indicted for financial crimes as soon as Monday, according to people familiar with the matter, bringing to a head the case that has sent shock waves through the global auto industry. Prosecutors are also planning to... 

Nissan to recall 150 000 cars on newly found inspection failures

By: Bloomberg     7th December 2018 Nissan Motor is planning to recall 150 000 vehicles in Japan after uncovering more failures in its final vehicle inspection process, dealing another blow to the carmaker whose former chairperson Carlos Ghosn is detained over alleged financial crimes. The new problems include inappropriate tests... 

Europe was growing wary of Huawei even before CFO's arrest

By: Bloomberg     7th December 2018 The shock arrest of Huawei Technologies’ chief financial officer comes at a crunch time in Europe, as governments decide whether to crack down on the Chinese technology giant. Before Canadian officials detained Wanzhou Meng on December 1 over potential violations of US sanctions on Iran,... 

Tullow oil seeking partners in bid for additional Ghana block

By: Reuters     7th December 2018 UK oil explorer Tullow Oil is seeking partners in a bid to acquire a new oil block in Ghana which launched its first oil bidding round in October, the company's MD Kweku Awotwi said on Thursday. Tullow is already lead operator of two oil fields in Ghana including its flagship offshore Jubilee... 

Regius developing coal-to-liquids, fertiliser project in Mozambique

By: Tasneem Bulbulia     7th December 2018 UK-incorporated company Regius Synfuels is, through its Mozambican subsidiary Regius Synfuels Mozambique, developing an integrated 10 000 bbl/d clean diesel and gasoline and a 409 000 t/y fertiliser project, in the Tete province of Mozambique. The project is registered with the Investment... 

South Africa’s 'dysfunctional' rail system root of many transport problems 

By: Irma Venter     7th December 2018 South Africa has a “completely dysfunctional" passenger rail system, says Professor Stephan Krygsman of the University of Stellenbosch’s Department of Logistics (Transport Economics). “There is no way to sugarcoat it. “The fact that we cannot get a rail system working in this country is probably... 

South Africa’s 'dysfunctional' rail system root of many transport problems
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