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Latest News

Eskom inquiry postponed, suspended CFO Singh accused of delaying tactics

By: African News Agency      5th December 2017 Suspended Eskom CFO Anoj Singh was on Tuesday told he would be called to testify before Parliament’s inquiry into the power utility at a later date, after he infuriated MPs by submitting 400 pages of documentation less that 24 hours before his scheduled appearance. “We are not going to engage... 

Iata prioritises safe integration of drones into airspace

By: Natasha Odendaal     5th December 2017 Given the evolution of unmanned aircraft systems (UAS), more commonly referred to as drones, the International Air Transportation Association (Iata) is working on three specific focus areas to ensure this new branch of aviation is safely integrated and transitioned into the global airspace. The... 

Vivo to gain 300 stations in 9 African countries in Engen share transaction

By: Schalk Burger     5th December 2017 Petroleum and energy company Vivo Energy, which represents oil multinational Shell’s brand of fuels and lubricants in Africa, will gain 300 service stations across nine African countries after it agreed to buys shares in oil multinational Engen International Holdings from Engen Holdings in... 

Sappi acquisition transitions group into higher-growth segments

By: Anine Kilian     5th December 2017 JSE-listed pulp and paper manufacturer Sappi will acquire the speciality paper business of Swiss-based pulp and paper manufacturer Cham Paper Group (CPG) for a $149-million cash deal. The transaction, which includes CPG’s Italy-based Carmignano and Condino mills, as well as its digital imaging... 

Sappi acquisition transitions group into higher-growth segments
Sappi CEO Steve Binnie

Eskom administrator tells inquiry he insisted Brown be informed of Molefe's retirement package

By: African News Agency      5th December 2017 Eskom administrator Anton Minnaar on Tuesday told the parliamentary inquiry into Eskom that he insisted Public Enterprises Minister Lynne Brown be informed of the plans to grant former CEO Brian Molefe early retirement shortly after he left the company. "I knew there is risk in this whole thing,... 

 Eskom administrator tells inquiry he insisted Brown be informed of Molefe's retirement package
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Transnet CEO urges more investment in African ports

By: African News Agency      5th December 2017 The head of South Africa’s State-owned transport company Transnet on Tuesday called for greater integration, deregulation and investment into Africa’s port capacity, to reduce costs and increase turnaround times. Transnet CEO Siyabonga Gama told the African Terminal Operators’ Conference in... 

Mokonyane urges business community to invest in water infrastructure

By: African News Agency      5th December 2017 South African minister of water and sanitation, Nomvula Mokonyane, on Tuesday urged the business community to invest in the country’s water security in a bid to prevent the collapse of one of the sectors on which the economy rests. Speaking at the Water Infrastructure Investment Summit 2017 in... 

Nigerian’s Dangote Cement partners with online shopping giant Jumia

By: African News Agency      5th December 2017 Nigerian based Dangote Cement has signed a deal with the e-commerce platform Jumia Nigeria to sell its cement to online. According to the group, the move was designed to reduce price and ease logistics inherent in the purchase of its products. 

Monthly 'drought charge' on cards for Capetonians

By: News24Wire      5th December 2017 Cape Town residents may have to pay a monthly "drought charge" for about three years from February, as officials try and raise R1-billion annually while dams in the province recover from the worst dry spell in more than a hundred years. Details about the proposed charge are contained in a report... 

Africans must drive African trade – Zuma

By: African News Agency      5th December 2017 President Jacob Zuma has said that Africa needs to develop its manufacturing capabilities, achieve industrialisation and drive intra-African trade to reverse the continental trend of exporting raw materials and importing finished goods. Zuma was speaking at the inaugural African Terminal... 

 Africans must drive African trade – Zuma
President Jacob Zuma

Global air transport set for strong 2018 growth

By: Natasha Odendaal     5th December 2017 Despite entering what is typically considered the downturn year of a cyclical period in air travel, the aviation industry is expected to continue its strong growth in 2018, underpinned by strong global economic growth. While the past three cycles in air travel lasted around eight years before... 

Q3 GDP expands by 2% q/q as agriculture soars

By: Reuters     5th December 2017 South Africa's economy grew more than expected in the third quarter as agricultural sector continued to recover from a severe drought while mining and finance also improved, lifting hopes the country may avoid further credit downgrades. Last month S&P Global Ratings cut Pretoria's local currency... 

Q3 GDP expands by 2% q/q as agriculture soars

South Africa's private-sector activity slows in November – Standard Bank PMI

By: Reuters     5th December 2017 South African private sector activity slowed in November as new orders and output fell, a survey showed on Tuesday. The Standard Bank Purchasing Managers' Index (PMI), compiled by IHS Markit, fell to 48.8 in November from 49.6 in October, staying below the 50 mark that separates expansion from... 

Total gains momentum in renewable energy sector

By: Anine Kilian     4th December 2017 Petroleum product manufacturer Total has become an indirect shareholder in Total Eren, formerly called Eren Renewable Energy, with a 23% interest. This follows approval of the transaction by the French competition authorities, as well as the consent of all involved stakeholders. 

SMB plans Guinea alumina refinery by 2022

By: Reuters     4th December 2017 A consortium of the Societe Miniere de Boke (SMB) and Singapore's Winning Shipping plans to build Guinea's first alumina refinery in a $3 billion effort to develop the West African country's bauxite industry, it said on Monday. Guinea has about a third of the world's bauxite reserves and expects... 

Exxon eyes Egypt's offshore oil and gas – sources

By: Reuters     4th December 2017 Exxon Mobil is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals' success in the country and boost its reserves, officials and industry sources said. Officials from the world's largest listed oil producer recently held talks with Egypt's petroleum ministry to... 

China to encourage private funds to invest in defense firms – cabinet

By: Reuters     4th December 2017 China will encourage private funds to invest in defense firms to promote reform in the industry, China’s cabinet said on Monday. China will encourage defense firms to list on the stock market or invest in listed companies, the State Council said in guidelines issued to further open up the... 

China steel, iron ore futures hit 3-mth highs as mills cut output

By: Reuters     4th December 2017 Chinese iron ore and steel futures surged to three-month highs on Monday as the government-ordered steel production cutbacks led to tighter supplies for some mill products. The upwards push was led by a big spike in steel prices that follows the global top producer's orders to 28 cities to cut... 

Municipal workers want minimum R10 000 salary, as municipal pay talks start

By: African News Agency      4th December 2017 The South African Municipal Workers Union (Samwu) wants municipal workers to earn a minimum wage of R10 000 per month, the union said on Monday. Trade unions representing municipal workers tabled their initial demands at the wage negotiations with the South African Local Government Association... 

Tribunal approves mergers involving seed, wheat milling companies

By: Anine Kilian     4th December 2017 The Competition Tribunal has approved the acquisition of seed and wheat milling companies Progress Milling and Noordfed by holding company K2014202010, a joint venture between Louis Dreyfus Company Africa (LDCA) and DH Brothers Industries Willowton.     The tribunal approved the transactions... 

Sars denies paying Makwakwa a bonus while on suspension

     4th December 2017 The South African Revenue Service (Sars) on Monday dismissed as "inaccurate and untrue" media reports that its embattled chief officer of business and individual tax, Jonas Makwakwa, was paid a bonus while on suspension. "Sars finds it necessary to specifically clarify the deliberate... 

Sars denies paying Makwakwa a bonus while on suspension
Photo by Duane Daws
Sars Commissioner Tom Moyane

Polish retail portfolio offers expansion opportunities for EPP

By: Anine Kilian     4th December 2017 A portfolio of 12 retail properties in Poland being acquired by JSE-listed Echo Polska Properties (EPP), offers “substantial” expansion opportunities, says EPP CEO Hadley Dean. EPP in October announced that it would acquire the 12 properties, which includes eight shopping centres and four retail... 

Petrol, diesel price to go up this week

By: African News Agency      4th December 2017 South Africa's energy department on Monday announced motorists will have to fork out 71 cents more per litre of petrol, while the wholesale price of diesel is set to increase between 57 cents and 60 cents a litre. The department, in a statement, attributed the price hikes to the international... 

Petrol, diesel price to go up this week

New, adaptive prototype zebra crossing responds to pedestrian behaviour

By: Irma Venter     4th December 2017 UK-based technology company Umbrellium has installed an interactive pedestrian crossing in South London that responds dynamically, in real-time, to its environment. Umbrellium says the familiar zebra crossing design (originating in the 1940s) has not been updated for the ways that city... 

New, adaptive prototype zebra crossing responds to pedestrian behaviour

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Heineken to open $100m brewery in Mozambique in 2019

By: Reuters     4th December 2017 Heineken will open a $100-million brewery in Mozambique, its first production facility in the southern African nation, the brewer said on Monday. The world's second-largest brewer plans to start production at the 0.8-million hectoliters capacity plant in the capital Maputo in the first half of... 

Black Business Council suspends president over missing donation

By: African News Agency      4th December 2017 South Africa's Black Business Council (BBC) said on Monday it had suspended its president Danisa Baloyi pending an investigation into a missing R5-million donation. The black business lobby group said last week that Airports Company South Africa had confirmed making the donation, but that the... 

Black Business Council suspends president over missing donation
BBC president Danisa Baloyi

Nersa shifts Eskom tariff decision to December 13

By: Terence Creamer     4th December 2017 The National Energy Regulator of South Africa (Nersa) confirmed on Monday that it would announce its decision on Eskom’s 2018/19 revenue application on December 13, instead of the December 7 date initially set for the determination. “The date has been changed due to more time being required to... 

Nersa shifts Eskom tariff decision to December 13

South Africa re-elected to International Maritime Organisation council

By: African News Agency      4th December 2017 South Africa has been re-elected to serve on the International Maritime Organisation (IMO) council for 2018/19 – maintaining its unbroken service record since 1999, the transport department said on Sunday. Voting to elect new member States to the IMO council took place during the 30th regular... 

Three Cape Town households exceed 1 000 litres of water per day

By: News24Wire      4th December 2017 While Capetonians have been urged to reduce their water usage to below 87 litres per person daily, three households on average, exceeded 1 000 litres per day. This was revealed by City of Cape Town mayor Patricia de Lille on Sunday, who said the properties - two in Pinelands and another in... 

Seifsa welcomes improvement in PMI, despite it remaining below the 50 point mark

By: Natasha Odendaal     1st December 2017 While the Absa Purchasing Managers' Index (PMI) still trended below the neutral level of 50 for the sixth consecutive month during November, it has consistently shown improvement for four successive months from August to November. The Steel and Engineering Industries Federation of Southern Africa... 

Competition Amendment Bill moves to give teeth to market inquiry instrument

By: Terence Creamer     1st December 2017 Economic Development Minister Ebrahim Patel released the Competition Amendment Bill for public comment on Friday, indicating that he expects the proposed legislation to be placed before lawmakers during the first half of 2018. The amendments, which were drafted with the assistance of an expert... 

Competition Amendment Bill moves to give teeth to market inquiry instrument
Photo by Duane Daws
Economic Development Minister Ebrahim Patel

November sees healthy jump in new-vehicle sales

By: Irma Venter     1st December 2017 South African new-vehicle sales experienced yet another positive month in November, countering general negative economic sentiment for the six month in a row, with new-vehicle sales up 7.2% compared with November last year. Statistics released by the Department of Trade and Industry on Friday... 

November sees healthy jump in new-vehicle sales

China steel clings to near 11-week high, posts best week since Aug

By: Reuters     1st December 2017 Shanghai steel futures traded near their strongest level since mid-September on Friday and chalked up their biggest weekly gain in four months, supported by tighter supply in the world's top producer. Steel mills across northern China were ordered to slash sintering output by up to half from this... 

Second Norway-South Africa Science Week to stimulate oceans science and economy 

By: Schalk Burger     1st December 2017 The second Norway-South Africa Science Week will provide a platform for scientists, researchers, civil servants and business people from both countries to share best practices and policies to promote the sustainable use of ocean resources. Norwegian ambassador to South Africa, Botswana,... 

Second Norway-South Africa Science Week to stimulate oceans science and economy
Norway Ambassador to South Africa, Botswana, Madagascar and Nambiia Trine Skymoen discusses the upcoming Norway-South Africa science week. Video and editing: Nicholas Boyd.

Ford Struandale plant exceeds 3m engine production milestone, eyes 2018 expansion

By: Natasha Odendaal     1st December 2017 The Ford Struandale engine plant, in Port Elizabeth, is celebrating the assembly of 500 000 Duratorq TDCi turbodiesel engines since 2011, bringing the total of engines produced at the plant to 3.3-million units since its establishment in 1964. Ford Motor Company of Southern Africa (FMCSA) is now... 

Ford Struandale plant exceeds 3m engine production milestone, eyes 2018 expansion
Ford Middle East and Africa VP operations Ockert Berry

Absa PMI rises to six-months high in November

By: Reuters     1st December 2017 South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) rose in November to its highest level in six months as business activity improved further, a survey showed on Friday. The index, which is compiled by the Bureau for Economic Research and gauges manufacturing activity in... 

Renewables-heavy mix is South Africa’s cheapest option, yet another study confirms

By: Terence Creamer     1st December 2017 A new, independently produced techno-economic model of South Africa’s cost-optimal power generation mix in 2040 outlines a system where 69% of the electrical energy is produced from onshore wind and solar photovoltaic (PV) generators, supported by batteries and gas-fired generators. Conducted by... 

Renewables-heavy mix is South Africa’s cheapest option, yet another study confirms

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