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Latest News

Treasury backs CEO of $160bn State pension fund

By: Reuters     31st May 2018 South Africa's National Treasury on Thursday rallied behind Dan Matjila, the CE of the government's R2-trillion ($160-billion) State pension fund, dismissing a media report that said it was considering his suspension. "Treasury has faith in Mr Dan Matjila's leadership," it said in response to... 

Uganda's telecoms regulator to probe MTN on mobile money policies

By: Reuters     31st May 2018 Uganda's telecommunications regulator said on Wednesday it was setting up a committee to investigate the local unit of South Africa's MTN Group after uproar on social media about its mobile money policies. This week dozens of MTN's subscribers in Uganda took to Twitter to accuse it of making it... 

KLT SA in push to increase chassis frame production to meet Ford requirements

By: Irma Venter     31st May 2018 KLT Automotive and Tubular Products South Africa (KLT SA) has to increase production this year at its Hammanskraal plant, in Pretoria, from around 450 chassis frames a day, to 500 units a day, says KLT SA CEO Paul Leonard. KLT SA supplies the Ford plant in Silverton, also in Pretoria, where the... 

 KLT SA in push to increase chassis frame production to meet Ford requirements

Cape Town Iron and Steel Works officially opened 

By: Kim Cloete     30th May 2018 The Cape Town Iron and Steel Works (Cisco) plant has been officially opened in Kuils River, near Cape Town. The plant has created 300 direct and another 120 indirect jobs, with another 200 in the pipeline.   Established originally in 1967, the factory was closed by Murray & Roberts (M&R) in 2010,... 

Cape Town Iron and Steel Works officially opened
Economic Development Minister and DHT president Dagistan Turanli at the Cisco plant opening

Nampak H1 profit up 10% y/y

By: Anine Kilian     30th May 2018 JSE-listed Nampak’s headline earnings and headline earnings a share for continuing operations increased by 11% and 10% to R849-million and 132c, respectively, for the six months ended March 31. Presenting the company’s results, on Thursday, CEO André de Ruyter said the performance from continuing... 

M&R says meeting set with ATON to discuss ‘highly strategic’ Aveng deal

By: Terence Creamer     30th May 2018 Murray & Roberts (M&R) confirmed on Wednesday that it would be meeting with its largest single shareholder, ATON, to discuss the merits of M&R’s proposed acquisition of Aveng, which it continues to describe as “highly strategic”. No date has been provided for the meeting, which is being pursued... 

M&R says meeting set with ATON to discuss ‘highly strategic’ Aveng deal

Commission approves NBC, ECM merger without conditions

By: Simone Liedtke     30th May 2018 The Competition Commission has approved the proposed transaction, whereby newly-incorporated company North Block Complex (NBC) intends to acquire Exxaro Coal Mpumalanga (ECM) in respect of its mining and processing business, the transferred business, without conditions. The transferred business,... 

Commission recommends tribunal approve Sea Harvest, Vikings merger

By: Simone Liedtke     30th May 2018 The Competition Commission has recommended to the Competition Tribunal that Sea Harvest Corporation’s proposed acquisition of certain fishing rights and assets used in operating the fishing business of Vikings Fishing Holdings, be approved with conditions. The proposed merger, the commission... 

Coal industry should ensure that it does not lower air quality to avoid silicosis repeat

By: Martin Creamer     30th May 2018 South Africa’s coal industry should ensure that it does not lower air quality to avoid ending up in the same litigious space as the gold mining sector with silicosis. Earlier this month, a class action settlement was reached with thousands of mineworkers suffering from silicosis and/or... 

Coal industry should ensure that it does not lower air quality to avoid silicosis repeat
Photo by Dylan Slater
Matleng chairperson Nelisiwe Magubane

Commission approves Hudaco’s Boltworld acquisition, with conditions

By: Simone Liedtke     30th May 2018 The Competition Commission has approved, with conditions, the proposed merger whereby industrial supplies company Hudaco intends to acquire industrial equipment supplier Boltworld. The commission does not believe the proposed transaction will substantially prevent or lessen competition in any... 

Macron calls for complete overhaul of world trade rules, WTO reform

By: Reuters     30th May 2018 French President Emmanuel Macron urged the world's biggest economic powers to start talks to reform the World Trade Organization (WTO) to prevent current tensions from spiralling into trade wars. "This is about a complete update of global competition rules," Macron said in a speech on... 

Developers break ground on R3bn Sandton Gate precinct development

By: Simone Liedtke     30th May 2018 Joint developers on the Sandton Gate precinct project, Abland and Tiber, have broken ground on Phase 1 of the development, with the start of bulk earthworks. Phase 1 will include 15 500 m² of commercial space, 13 000 m² of P-grade office space and a 2 500 m² gym positioned on the piazza level of... 

Developers break ground on R3bn Sandton Gate precinct development

Egypt to spend $1.4bn over two years to develop electricity grid

By: Reuters     30th May 2018 Egypt has set aside 25-billion Egyptian pounds (around $1.4-billion) to be spent over two years on developing the country's electricity network, the electricity minister said on Wednesday. The minister, Mohamed Shaker, told reporters the government had agreed on a loan worth 60-billion Kuwaiti... 

Coca-Cola Co's Africa distributor to invest $100m in Kenya over next 5 years

By: Reuters     30th May 2018 Coca-Cola Beverages Africa (CCBA), the continent’s largest soft drinks bottler, said on Wednesday it would invest $100-million in Kenya over the next five years to improve infrastructure and launch new products. The company, which sells and distributes Coca-Cola Co products in Africa, plans to... 

Denel Aeronautics acting CEO was in charge at SA Express when irregular contract signed – union

By: Rebecca Campbell     30th May 2018 Trade union Solidarity claimed on Wednesday that the reported fuel purchase contract, which failed to follow prescribed tender procedures, placed by State-owned airline SA Express with a little known company, EML Energy, had been placed while Victor Xaba had been acting CEO of the airline. Xaba... 

Denel Aeronautics acting CEO was in charge at SA Express when irregular contract signed – union
Photo by Duane Daws/Creamer Media
Victor Xaba

Milestone year for Vukile as it delivers 7.7% FY18 distribution growth

By: Simone Liedtke     30th May 2018 Property management company Vukile Property Fund achieved 7.7% growth in dividends to 168.82c a share for the full year ended March 31 on the back of a higher second-half distribution growth of 7.9%. As its international investment grows, Vukile aims to hedge 75% of its dividend flow from... 

Milestone year for Vukile as it delivers 7.7% FY18 distribution growth
Photo by Dylan Slater
Vukile Property Fund CEO Laurence Rapp

Vivo’s Q1 adjusted Ebitda rises 6% y/y

By: Anine Kilian     30th May 2018 JSE-listed Vivo Energy achieved a 6% year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $102-million for the quarter ended March 31, compared with Ebitda of $96-million in the first quarter of 2017. Total volumes were up 5% year-on-year,... 

Exemplar to list on the JSE in June

By: Anine Kilian     30th May 2018 Exemplar Retail has been granted approval to list in the retail real estate investment trust sector on the main board of the JSE, effective June 12. The company said in a statement on Wednesday that it intends to grow its property portfolio through the acquisition of high-quality assets... 

CCP 12J appoints DRA Group as technical partner

By: Marleny Arnoldi     30th May 2018 Mining engineering firm DRA Group will act as a technical partner to mining-focused venture capital company CCP 12J Fund in respect of engineering and outsourced operations and maintenance services.  

CCP 12J appoints DRA Group as technical partner
Former Keaton Energy CEO and experienced Nedbank corporate investment and mining investment banker Paul Miller

African auto industries not viable without policy support

By: Irma Venter     30th May 2018 If African governments do not develop sustainable, long-term automotive industry policies – including policy measures that address the issue of the sale of used vehicles – they will fail to develop automotive sectors within their economies, says African Association of Automotive Manufacturers... 

 African auto industries not viable without policy support
Lagos, Nigeria

Gender inequality in earnings hampers human capital wealth, economy – World Bank Group

By: Marleny Arnoldi     30th May 2018 Globally, countries are losing $160-trillion in wealth because of differences in lifetime earnings between women and men, says World Bank Group.  

Gender inequality in earnings hampers human capital wealth, economy – World Bank Group
World Bank CEO Kristalina Georgieva

Uganda MPs question classified defence expenditure increase

By: African News Agency      30th May 2018 Ugandan Parliamentarians on the budget committee have expressed mixed feelings over a classified increase in expenditure for the Ugandan People’s Defence Forces (UPDF), querying whether the money may be hidden away and used by the government at a later stage for political activities, to the... 

Electric vehicles could increase to 220m in 2030 – IEA

By: Marleny Arnoldi     30th May 2018 The International Energy Agency’s (IEA’s) ‘Global Electric Vehicles Outlook’ has found that the number of electric and plug-in hybrid cars on the world’s roads exceeded three-million in 2017, which is a 54% increase compared with 2016.  

Electric vehicles could increase to 220m in 2030 – IEA

B2Gold opens 7 MW solar farm at Namibia mine

By: Marleny Arnoldi     30th May 2018 Gold producer B2Gold Namibia on Wednesday celebrated the opening of the B2Gold Otjikoto solar farm, in the Otjozondjupa region.  

B2Gold opens 7 MW solar farm at Namibia mine
Otjikoto solar farm in Namibia

Telkom refocuses strategy on new revenue streams 

30th May 2018 Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Natasha Odendaal about Telkom’s financial results for the 2018 financial year, the growth of its mobile platform and the growth opportunities it is pursuing. 

Telkom refocuses strategy on new revenue streams
Telkom refocuses strategy on new revenue streams

Health Market Inquiry provisional report delayed to June

By: Marleny Arnoldi     30th May 2018 The Competition Commission’s Health Market Inquiry (HMI) panel has decided to delay the release of its provisional findings and recommendations report to June 28.  

Two coal IPPs would cost S Africa an additional R20bn, not in public interest – report 

By: Marleny Arnoldi     30th May 2018 A report released by the University of Cape Town’s Energy Research Centre (ERC) shows that government’s planned independent power producer (IPP) coal plants – Thabametsi and Khanyisa – would cost South Africa an additional R19.68-billion compared with a least-cost energy system.  

Two coal IPPs would cost S Africa an additional R20bn, not in public interest – report

SAA and partners filling the flight gap created by the grounding of SA Express

By: Rebecca Campbell     30th May 2018 South African Airways (SAA) announced on Wednesday an extended flight schedule to replace the capacity lost with the grounding of the SA Express airline by the South African Civil Aviation Authority (CAA). (This grounding was because of “severe cases of non-compliance that pose serious safety... 

SAA and partners filling the flight gap created by the grounding of SA Express
A Bombardier CRJ700 regional jet of SA Express, before the airline was grounded

Bills setting minimum wage passed in Parliament

By: African News Agency      30th May 2018 Three contentious labour bills giving effect to a national minimum wage in South Africa and the introduction of a requirement that trade unions institute a secret ballot before deciding on strike action were passed in the National Assembly on Tuesday. The National Minimum Wage Bill, which sets... 

 Bills setting minimum wage passed in Parliament

Tullow Oil picks Australia's Worley Parsons for Kenya contract

By: Reuters     29th May 2018 Tullow Oil has awarded an engineering design contract for oil production in its northern Kenyan blocs to Australia's Worley Parsons, a Kenyan petroleum ministry official told Reuters on Tuesday. Kenya this month moved a step closer to full production at the blocs when the local government and the... 

Echo Polska acquires Polish shopping centre, changes name

By: Simone Liedtke     29th May 2018 Netherlands-based Echo Polska Properties (EPP) has, through its subsidiary EPP Development 7, acquired the King Cross Marcelin shopping centre, in Poznan, Poland, for €91.1-million. The acquisition is in line with the company’s strategy to expand its presence in Polish regional cities. 

Skills investment needed to sustain manufacturing industry

By: Anine Kilian     29th May 2018 To ensure South Africa has the skills required for advanced manufacturing, industry needs to invest in high-end skills, National Tooling Initiative Programme (NTIP) CEO Dirk van Dyk said on Tuesday. Addressing delegates at the release of the Manufacturing Circle Investment Tracker (MCIT) for the... 

As ATON prepares mandatory offer, M&R board says higher price still ‘undervalues’ company

By: Terence Creamer     29th May 2018 The takeover battle for engineering and construction group Murray & Roberts (M&R) by German investment company ATON intensified this week with ATON announcing its intention to make a new mandatory offer, following a Takeover Special Committee (TSC) ruling instructing ATON to withdraw its earlier... 

As ATON prepares mandatory offer, M&R board says higher price still ‘undervalues’ company

ExecuJet Nigeria bolsters services for West Africa with Izy Air alliance

By: Simone Liedtke     29th May 2018 International business aviation company ExecuJet, which is part of the Luxaviation Group, on Tuesday announced a strategic alliance for maintenance services between its Lagos-based maintenance, repair and overhaul (MRO) facility and Nigeria-based Izy Air. This forms part of ExecuJet’s ongoing... 

Patel to reopen Cape Town Iron and Steel Works plant  

By: Marleny Arnoldi     29th May 2018 Economic Development Minister Ebrahim Patel will on Wednesday officially reopen the Cape Town Iron and Steel Works plant (Cisco), in Kuils River, in the Western Cape.  

Patel to reopen Cape Town Iron and Steel Works plant
Economic Development Minister Ebrahim Patel

Umoya study affirms social benefits of renewable energy IPPs 

By: Marleny Arnoldi     29th May 2018 A social impact study done by infrastructure investment managers Umoya Energy has found that the Renewable Energy Independent Power Producer Procurement Programme (REIPPP) is effective in delivering on social benefits through meaningful initiatives.  

Umoya study affirms social benefits of renewable energy IPPs
Hopefield Wind Farm

Manufacturing sector investment to remain stable in Q2 – Manufacturing Circle  

By: Anine Kilian     29th May 2018 The Manufacturing Circle Investment Tracker (MCIT) for the first quarter of this year shows there has been investment into the manufacturing sector in the past 15 months, but that investment is declining. Presenting key findings of the MCIT, in Centurion, on Tuesday, Manufacturing Circle... 

Manufacturing sector investment to remain stable in Q2 – Manufacturing Circle
Manufacturing sector investment to remain stable in Q2 – Manufacturing Circle

MTN announces Ghana IPO

By: Creamer Media Reporter      29th May 2018 Telecommunications giant MTN’s Ghana subsidiary Scancom, or MTN Ghana, has launched its initial public offer (IPO) with the intention of listing on the Ghana Stock Exchange (GSE). The listing formed part of the localisation requirement as part of the awarding to MTN Ghana of a fourth-generation... 

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