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Latest News

Last day of share trading for Datatec as Aim-listing cancellation takes effect

By: Dylan Slater     7th December 2017 Thursday was the last day that shares of international information and communications technology company Datatec could be traded on London’s Aim, as the company’s cancellation of its listing will take effect on Friday.  

City of Cape Town needs to focus on customer-centric solutions to mitigate water crisis

By: Anine Kilian     7th December 2017 While the City of Cape Town has focused much of its effort to alleviate the water crisis on supply-side fixes like desalination and tapping underground aquifers, more effort needs to be put into demand-side solutions that incentivise customers to reduce water use, according to Blue Horizon energy... 

City of Cape Town needs to focus on customer-centric solutions to mitigate water crisis

Steinhoff identifies €1bn noncore assets to boost liquidity

By: Schalk Burger     7th December 2017 In the grip of an accounting scandal that led to it indefinitely postponing the release of its 2017 financial results, JSE-listed retail multinational Steinhoff  noted on Thursday that it had received expressions of interest in noncore assets that will release a minimum of €1-billion of... 

Steinhoff identifies €1bn noncore assets to boost liquidity
Photo by Bloomberg
CHRISTO WIESE The Steinhoff supervisory board appointed Dr Christo Wiese delegated supervisory chairperson on an interim basis

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Pallinghurst targets London, okays share buyback, halves executive pay
Photo by Duane Daws
Pallinghurst CE Arne Frandsen

Ireland's CRH withdraws from bidding for South African cement maker PPC

By: Reuters     7th December 2017 Irish cement producer CRH, the world's third-largest building materials supplier by market value, had decided not to bid for rival PPC the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an... 

Ireland's CRH withdraws from bidding for South African cement maker PPC

Kganyago concerned another big power tariff hike will trigger grid defections

By: Terence Creamer     6th December 2017 South African Reserve Bank governor Lesetja Kganyago has added his voice to a growing chorus of concern that South African businesses, and even high-income households, could defect from the electricity grid in numbers should Eskom prevail in its bid for a 19.9% tariff increase from April 1, 2018.... 

Kganyago concerned another big power tariff hike will trigger grid defections
South African Reserve Bank governor Lesetja Kganyago

Ocean science key to supporting sustainable ocean health

By: Anine Kilian     6th December 2017 Studying and understanding ocean science is key to achieving the Sustainable Development Goals (SDGs) set out by the United Nations (UN) and to sustain the health of the world’s oceans, according to Department of Environmental Affairs oceans research director Ashley Johnson, who unpacked the key... 

Ocean science key to supporting sustainable ocean health
Department of Environmental Affairs oceans research director Ashley Johnson

Nersa says special power deal for Silicon Smelters must start on July 1 or earlier

By: Terence Creamer     6th December 2017 The National Energy Regulator of South Africa (Nersa) has confirmed that a special pricing agreement (SPA) between Eskom and Silicon Smelters, which was approved in August, should commence no later than July 1, 2018, and continue for a maximum of two years. Silicon Smelters, a subsidiary of... 

Nersa says special power deal for Silicon Smelters must start on July 1 or earlier

Sarb’s attack could cost Mkhwebane her job, PP counsel argues

By: News24Wire      6th December 2017 The South African Reserve Bank’s (Sarb) personal attack on Public Protector Busisiwe Mkhwebane’s integrity could cost Mkhwebane her job, a court has heard. During the Bankorp-CIEX hearing which continued on Wednesday at the North Gauteng High Court, Mkhwebane’s legal counsel Paul Kennedy SC... 

 Sarb’s attack could cost Mkhwebane her job, PP counsel argues
Photo by Reuters
Public Protector Busisiwe Mkhwebane

Global air cargo rising, aviation working to revamp operations

By: Natasha Odendaal     6th December 2017 In a year characterised by positive growth, global air cargo is setting the stage for dramatic modernisation and transformation, the International Air Transportation Association (Iata) said on Wednesday. Air cargo accounted for about $6-trillion in the value of goods, representing 35% of global... 

South Africa, Norway announce new oceans research programme

By: Anine Kilian     6th December 2017 The Norwegian Embassy in South Africa, together with the Department of Science and Technology (DST), has signed a declaration of intent to develop a new bilateral research programme focused on the oceans economy. The intent for the development of the programme, called the South Africa-Norway... 

South Africa, Norway announce new oceans research programme
DST International Cooperation and Resources deputy-director-general Daan du Toit and Norwegian Ambassador to South Africa, Botswana, Madagascar and Namibia Trine Skymoen

Vukile continues to grow Spain retail portfolio

By: Schalk Burger     6th December 2017 JSE-listed retail property trading company Vukile Property Fund added two Spanish retail parks, worth about €65-million, to its portfolio of 11 other Spanish retail parks. CEO Laurence Rapp said in a note on Wednesday that the total value of the Spanish portfolio was about €290-million. Vukile’s... 

Drought: Has Cape Town planned properly for Day Zero?

By: News24Wire      6th December 2017 "Day Zero is the stark reality we face when most taps will be turned off and residents will have to queue for water." This sombre announcement was made by Mayor Patricia de Lille at the launch of the City of Cape Town's water dashboard on November 23, GroundUp reported on Wednesday. 

Drought: Has Cape Town planned properly for Day Zero?

Steinhoff’s STAR largely unaffected by group troubles

By: Schalk Burger     6th December 2017 JSE-listed African retail subsidiary Steinhoff Africa Retail (STAR) announced on Wednesday that it was “unaffected by the events at [JSE-listed retail multinational] Steinhoff”. Steinhoff has delayed the publication of its 2017 financial results indefinitely as it investigates what it terms... 

DTI, EU negotiating new tariff deal for electric vehicles, small cars

By: Irma Venter     6th December 2017 The Department of Trade and Industry (DTI) is negotiating with the European Union (EU) to reduce import tariffs on electric vehicles (EVs) down from 25% to 18%. In return, South Africa would like to increase the import duties on vehicles with an engine size smaller than 1 000 cc to 18%, said DTI... 

DTI, EU negotiating new tariff deal for electric vehicles, small cars

Tanzania-Zambia railway halts copper transportation after strike

By: Reuters     6th December 2017 The Tanzania-Zambia Railway Authority (TAZARA) has suspended all train services, including the transportation of copper following a strike by workers in Africa's second-largest producer of the metal, the company said on Wednesday. The line is an important route for copper exports from Zambia and... 

SA business confidence index lifted by optimism on better conditions – Sacci

By: African News Agency      6th December 2017 Business confidence in South Africa was up slightly in November, reflecting an anticipation of more conducive economic conditions, a survey showed on Wednesday. The South African Chamber of Commerce and Industry (Sacci) said its monthly business confidence index rose to 95.1 in November from 92.9... 

SA business confidence index lifted by optimism on better conditions – Sacci

Airport development not keeping pace with passenger growth

By: Natasha Odendaal     6th December 2017 Globally, airport capacity and airline demand for access to airports have not kept pace with one another, setting global aviation on a path to chaos should mitigation measures not be taken with urgency, according to the International Air Transport Association (Iata). Passenger load factors are... 

Airport development not keeping pace with passenger growth

Transnet board, executives to be summonsed after no-show in Parliament

By: African News Agency      6th December 2017 The board and executives of South Africa's State-owned freight and logistics company, Transnet, will be summonsed to appear before Parliament's standing committee on public accounts (Scopa) after a no-show on Wednesday. Board chairperson Linda Mabaso and her team were expected to respond to MPs... 

 Transnet board, executives to be summonsed after no-show in Parliament

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

Harmony Gold spells out value of Moab investment
Photo by Duane Daws
Harmony Gold CEO Peter Steenkamp

Glencore-Canada venture hitched to low-carbon economy shift

By: Martin Creamer     5th December 2017 The joint venture partnership Glencore struck with a Canadian pension plan on Tuesday provides exposure to commodities that benefit from a low-carbon economy. BaseCore Metals, a 50:50 partnership centred on base metals streams and royalties, involves Glencore Canada Corporation contributing a... 

Glencore-Canada venture hitched to low-carbon economy shift
Glencore CEO Ivan Glasenberg

Exxon climate change probe goes to Massachusetts top court

By: Reuters     5th December 2017 Exxon Mobil Corp will urge Massachusetts’ top court on Tuesday to allow it to avoid handing over records to the state’s attorney general amid a probe into whether the oil company misled investors and consumers about its knowledge of climate change. The Massachusetts Supreme Judicial Court is... 

China's Mingtai shrugs off US aluminium sheet probe

By: Reuters     5th December 2017 Henan Mingtai Aluminum, one of China's biggest aluminium sheet manufacturers, on Tuesday said it expected its production and sales to keep growing in 2018 despite the launch of US trade probes into imports of the product from China. Mingtai, with a production capacity of 650 000 tonnes per year... 

UK new car sales on course for first annual drop since 2011

By: Reuters     5th December 2017 British new car registrations dropped 5 percent in the year to date, putting them on track for the first annual fall since 2011, hit by weaker consumer confidence and uncertainty over the future of diesel, an industry body said on Tuesday. Sales slumped 11.2 percent in November to 163,541 cars,... 

Total, Sonangol sign new project pipeline agreements

By: Schalk Burger     5th December 2017 Oil and gas multinational Total and Angola State-owned oil company Sonangol have signed various agreements to jointly develop new upstream and downstream projects. Total chairperson and CEO Patrick Pouyanné on Monday held an audience with Angolan President João Lourenço and Sonangol chairperson... 

Japan Airlines invests $10m in supersonic jet company Boom

By: Reuters     5th December 2017 Denver-based startup Boom Supersonic said on Tuesday Japan’s No.2 carrier Japan Airlines has invested $10-million in the company, which is building a supersonic passenger aircraft it claims will be faster, quieter and more affordable to fly than Concorde. Boom is developing a 55-seat plane that... 

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

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