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Latest News

Investments in paper business start paying off – Mpact

By: Anine Kilian     8th August 2018 Capital investments in JSE-listed Mpact’s paper business are starting to contribute to the group’s performance, CEO Bruce Strong said on Wednesday. Reporting on the group’s results for the six months ended June 30, he noted that the gains made in the paper business had, however, been offset by a... 

BBC appoints new president

By: Anine Kilian     8th August 2018 Sandile Zungu has been elected the new president of the Black Business Council (BBC). He succeeds Danisa Baloyi, whose term has come to an end. 

South Africa falls to 37th on International Property Rights Index

By: Marleny Arnoldi     8th August 2018 South Africa is now ranked thirty-seventh in the global property rights rankings of the International Property Rights Index, with its score having declined from seven in 2017, when the country ranked twenty-seventh, to 6.35 this year. This is the largest decline by any country measured, mostly... 

GCIS, Busa launch anticorruption pledge campaign

By: Anine Kilian     8th August 2018 The Government Communication and Information System (GCIS) has, in partnership with Business Unity South Africa (Busa), launched the Anti-Corruption #ThumaMina pledge campaign. 

Business Confidence Index gains one index point in July

By: Marleny Arnoldi     8th August 2018 The South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI) improved by one index point in July to measure 94.7, compared with 93.7 in June. However, the BCI remained 0.6 index points below the 95.3 of July 2017. “Whereas the downward momentum of the BCI slowed in... 

M&R withdraws Aveng merger proposal

By: Anine Kilian     8th August 2018 JSE-listed Murray & Roberts (M&R) on Wednesday announced that it had withdrawn its proposal for a potential merger with Aveng. The company announced last week that it was reviewing a decision by the Takeover Special Committee (TSC) to overturn a June decision by the Takeover Regulation Panel that... 

M&R withdraws Aveng merger proposal

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Development continues at Waterfall City 

8th August 2018 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: Construction and development of JSE-listed Attacq’s Waterfall City is ongoing, with new infrastructure including roads, residential properties and warehouses continuously in the pipeline. Anine Kilian tells us... 

Development continues at Waterfall City
Development continues at Waterfall City

ARC to acquire 100% of TymeDigital

By: Anine Kilian     8th August 2018 African Rainbow Capital (ARC), led by chairperson Patrice Motsepe, has reached an agreement to acquire, through its 50.1% held subsidiary, ARC Financial Holding Company (FinHoldCo), 90% of TymeDigital by Commonwealth Bank, for an undisclosed consideration. When concluded, FinHoldCo will own 100%... 

Mozambique finalises block 5 oil deals with multinational firms

By: Reuters     8th August 2018 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the projects. Cabinet spokesperson Ana Comoana said the companies... 

AB InBev to build new brewery in fast-growing Mozambique

By: Reuters     8th August 2018 Anheuser-Busch InBev, the world's biggest brewer, will start building a more than two-million hectolitre a year brewery in Mozambique in the second half of next year, the company's Africa head said on Tuesday. The Mozambique investment will look to fend off competition from rival Heineken, which... 

Solidarity reaches wage agreement with AMSA

By: Marleny Arnoldi     8th August 2018 Trade union Solidarity has reached common ground with steel giant ArcelorMittal South Africa (AMSA) and has signed a wage agreement that is “favourable to all parties”. This follows after the union on July 13 referred its dispute with AMSA to the Metal and Engineering Industries Bargaining... 

Sars appoints acting finance chief to permanent position

By: Schalk Burger     7th August 2018 The South African Revenue Service (Sars) has appointed Johnstone Makhubu as its chief officer: finance with immediate effect. He had been the acting chief financial officer since August 2017. 

Govt must play role in limiting large-scale retrenchment – RBPlat 

By: Martin Creamer     7th August 2018 Government must play a role in limiting large-scale retrenchment in the platinum sector by potentially incentivising companies to curb job loss. Mineral Resources Minister Gwede Mantashe has objected strongly to the retrenchment plans of Impala Platinum in particular and Royal Bafokeng Platinum... 

Govt must play role in limiting large-scale retrenchment – RBPlat
Royal Bafokeng Platinum CEO Steve Phiri interviewed by Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Dylan Slater

Davies gazettes draft regulations on SEZs

By: Nadine James     7th August 2018 Trade and Industry Minister Dr Rob Davies has gazetted draft regulations on the Governance and Composition of the Special Economic Zones (SEZs) The proposed regulations seek to provide for the following options – for the management and operation of the industrial development zone (IDZ) entity not... 

Davies gazettes draft regulations on SEZs
Trade and Industry Minister Dr Rob Davies

DA proposes free trade, cost and regulatory reductions to stimulate manufacturing

By: Schalk Burger     7th August 2018 Political party, the Democratic Alliance (DA), on Tuesday proposed increased free trade and reducing regulatory burdens and energy costs to stimulate manufacturing in South Africa. In its policy proposal, ‘Manufacturing a new economic future’, the party states that “an effective trade policy... 

Corruption Watch report highlights schools, SOEs, health sector as areas of concern

By: Nadine James     7th August 2018 From January 1 to June 30, 2 469 cases of corruption were lodged with Corruption Watch the organisation noted in its ‘2018 Analysis of Corruption Trends (ACT)’ report, which it released on Tuesday. Six areas of concern were highlighted by these cases, including schools, municipalities, the South... 

Sumitomo Rubber’s truck and bus tyre plant starts production

By: Irma Venter     7th August 2018 Sumitomo Rubber South Africa (SRSA), manufacturer of the Dunlop tyre brand, has officially started production at its truck and bus radial (TBR) tyre manufacturing plant in Ladysmith, KwaZulu-Natal. Japanese company Sumitomo Rubber Industries, the world’s fifth-largest producer of automotive tyres... 

Sumitomo Rubber’s truck and bus tyre plant starts production
The SRSA Ladysmith plant

Foreign investment in Zimbabwe 

7th August 2018 Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Martin Zhuwakinyu about the international community’s reaction to Zanu-PF winning the Zimbabwean elections and what impact this may have on President Emmerson Mnangagwa’s push to attract foreign investment. 

Foreign investment in Zimbabwe
Foreign investment in Zimbabwe

Mathe Group ups tyre processing by 35%, grows steel exports

By: Irma Venter     7th August 2018 The KwaZulu-Natal-based Mathe Group, South Africa’s largest tyre recycler, has developed two steel by-products that are being exported to Australia and Korea in growing quantities. Dr Mehran Zarrebini, head of British investment group PFE International, which is one of the major shareholders in... 

Mathe Group ups tyre processing by 35%, grows steel exports

June manufacturing output up 0.7%

By: Reuters     7th August 2018 South Africa's manufacturing output rose by 0.7% year-on-year in June, following a revised 2% expansion in May, the statistics agency said on Tuesday. Statistics South Africa said factory production on a month-on-month basis rose 0.3% in June, and in the three months to June it fell by 0.1%... 

June manufacturing output up 0.7%

Treasury says receives reports of abuse of preferential procurement regulations

By: African News Agency      7th August 2018 South Africa's Treasury said on Tuesday it had received complaints about the abuse in some provinces and municipalities of the requirement that 30 percent of public procurement contracts be subcontracted to designated groups, as provided for in the Preferential Procurement Regulations, 2017.  The... 

New silver bullion Krugerrand goes on sale

By: Creamer Media Reporter      7th August 2018 The new silver bullion Krugerrand went on sale this week and is expected to generate significant interest, says Prestige Bullion, a joint venture between Rand Refinery and the South African Mint. The silver Krugerrand is Prestige Bullion’s first foray into silver and its introduction makes this... 

New silver bullion Krugerrand goes on sale

Ghanaian President sacks Energy Minister, gives no reason

By: Reuters     7th August 2018 Ghanaian President Nana Akufo-Addo sacked Energy Minister Boakye Agyarko on Monday, a statement from the presidency said, giving no official reason. Press reports said Agyarko was removed because Akufo-Addo was unhappy with his handling of an agreement to extend an existing five-year deal with... 

Study says gender a challenge for female entrepreneurs in construction 

By: Irma Venter     7th August 2018 Women in the construction and related industries not only face discrimination while working for existing firms, but also when starting their own businesses, says Mercantile Bank. A recent study conducted on behalf of the institution found that 67% of female business owners surveyed in the... 

Study says gender a challenge for female entrepreneurs in construction

Pillay has engineering industry members hot under the collar over opinion piece

By: Marleny Arnoldi     7th August 2018 Professional organisation Women in Engineering, engineering company Aurecon, and the University of Cape Town (UCT), as well as the South African Institution of Civil Engineering (Saice), have expressed their dismay at Saice CEO Manglin Pillay following an opinion piece he wrote on women in the... 

Black Business Council to hold long-awaited election for new leadership

By: African News Agency      6th August 2018 The Black Business Council (BBC) will on Tuesday hold its long-awaited elective national council meeting to elect new leaders to the top structure of the embattled organisation.  BBC is the over-arching confederation that represents black professionals, business associations and chambers. 

81 professionals appointed to help shape struggling municipalities’ infrastructure delivery 

By: Marleny Arnoldi     6th August 2018 Cooperative Governance and Traditional Affairs (Cogta) Minister Zweli Mkhize on Monday announced the appointment, by his department, of 81 engineers and town planners to assist with infrastructure delivery in 55 struggling municipalities across South Africa. Through Cogta’s implementing agent,... 

81 professionals appointed to help shape struggling municipalities’ infrastructure delivery
Photo by Creamer Media
Cooperative Governance and Traditional Affairs Minister Zweli Mkhize

Clanwilliam dam wall raising resumes

By: Natasha Odendaal     6th August 2018 Construction on the raising of the Clanwilliam dam wall resumed on Monday after a lengthy delay. “This is very welcome news and we want to applaud and thank the Water and Sanitation Department under Minister Gugile Nkwinti for keeping to their commitments and starting to deliver on their mandate... 

Equites acquires Simba logistics facility in Gauteng

By: Simone Liedtke     6th August 2018 Real estate investment trust Equites Property Fund has concluded an agreement to acquire a 40 428 m² distribution centre, let to Simba, from Investec Property Fund for about R461.9-million. The transaction is estimated to be effective from November 1, 2018. 

SENER, Acciona initiate salt melting process at Kathu CSP project

By: Marleny Arnoldi     6th August 2018 Engineering and technology group SENER, together with Acciona Industrial, have achieved a milestone with the start of the salt melting process at the Kathu Solar Park concentrated solar power (CSP) plant. The molten salt will be used to store heat from the solar field that can later be... 

SENER, Acciona initiate salt melting process at Kathu CSP project
SENERtrough-2 system at Kathu Solar Park's concentrated solar power plant

Heavy-handed laws not needed to transform mining – RBPlat 

By: Martin Creamer     6th August 2018 The growth of the once small community-based Royal Bafokeng Platinum (RBPlat) into the fully fledged mining company that it is today, provides ample evidence that transformation is best served by collaborative partnerships rather than heavy-handed laws. “Anglo American Platinum have been an... 

Heavy-handed laws not needed to transform mining – RBPlat
Royal Bafokeng Platinum CEO Steve Phiri presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater

Low cost airline Fastjet makes further changes to its market offering

By: Rebecca Campbell     6th August 2018 Pan-African low cost carrier Fastjet (which operates under the brand fastjet) is continuing its programme of optimising its services, routes, and fleet, it reported on Monday. The aim is to restore its financial health, ensure it becomes a sustainable going concern, and thereafter achieve... 

Stenprop buys another industrial estate

By: Creamer Media Reporter      6th August 2018 JSE-listed and UK-based multi-let industrial property investor Stenprop has acquired the Lombard Centre industrial estate, in Aberdeen, from Mayfair Capital for £3.25-million. The Lombard Centre is a modern estate with ten units, one of which is vacant. 

Staude to retire as Tongaat CEO; CFO to take extended medical leave of absence

By: Creamer Media Reporter      6th August 2018 Peter Staude will retire as CEO of JSE-listed Tongaat Hulett, with effect from October 31. He worked for the company for 40 years and served as CEO for the past 16 years. 

Western Cape lawmakers begin public hearings to regulate Uber

By: African News Agency      6th August 2018 The Western Cape provincial standing committee on transport and public works will on Wednesday hold its first public hearings into the National Land Transport Amendment Bill aimed at regulating e-hailing services, which include Uber and Taxify. The National Land Transport Act was passed to... 

Steel mills in China's Hebei cut output due to power shortage

By: Reuters     6th August 2018 Some steel mills in Hebei, China's top steelmaking province, have been ordered to curb operations due to power shortages in the region, industrial sources said. Power grid loading in late July in southern areas of Hebei reached 36.57 gigawatts (GW), the highest on record, as a heatwave spurred... 

EU asks WTO to certify it has removed Airbus subsidies

By: Reuters     6th August 2018 The European Union has asked the World Trade Organization to certify that it has complied with WTO rulings on its subsidies for planemaker Airbus, attempting to forestall-billions of dollars of US sanctions, a document published by the WTO showed on Monday. The legal move is the latest step in a... 

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