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Latest News

Zuma calls for urgent measures to boost economy after downgrade 

By: Reuters     27th November 2017 President Jacob Zuma has directed Finance Minister Malusi Gigaba to identify concrete measures to urgently address the country's economic challenges, the president's office said on Monday. The directive comes after S&P Global Ratings on Friday downgraded the country's local currency debt to... 

Tiger Brands FY profit ticks up in weak economy

By: Reuters     27th November 2017 Tiger Brands, South Africa's biggest consumer foods maker, on Monday reported a 1.6% rise in full-year profit as it refocuses on its slow-growing home market after a costly foray into the rest of Africa. Tiger Brands reported headline earnings per share (EPS) of 2 161 cents for the year to... 

Low flying choppers to confirm anti-drought water mapping on the Cape Flats

By: News24Wire      27th November 2017 Residents of Cape Town's Philippi, Khayelitsha and Mitchell's Plain might think they are imagining things at the sight of a helicopter carrying what looks like a giant steering wheel over their properties this week. According to Cape Town Mayor Patricia De Lille, this is actually a low flying... 

CSIR national nanomaterials centre celebrates decade of achievement

By: Keith Campbell     27th November 2017 The National Centre for Nanostructured Materials (NCNSM) of the Council for Scientific and Industrial Research (CSIR) celebrated its tenth anniversary on Monday, having been launched in 2007. It was set up to help implement the National Nanotechnology Strategy. Nanotechnology is concerned with... 

CSIR national nanomaterials centre celebrates decade of achievement
CSIR NCNSM polymer characterisation laboratory with CSIR polymer characterisation technologist Lesego Maubane

South African govt bonds weaker after S&P's downgrade

By: Reuters     27th November 2017 South African government bonds weakened on Monday after S&P's Global ratings on Friday downgraded the country's local currency debt to sub-investment grade, while Moody's placed the country on review for downgrade. The rand, which had tumbled 2% on Friday, recovered in early trade on Monday at... 

South African govt bonds weaker after S&P's downgrade

South32 okays R4.3bn project, eyes JSE for rejigged energy coal 

By: Martin Creamer     27th November 2017 Diversified mining and metals company South32 on Monday approved the R4.3-billion, 20-year Klipspruit life extension project at South Africa Energy Coal (SAEC), and at the same time set out to turn its South African energy coal business into a standalone entity, earmarked for further empowerment... 

South32 okays R4.3bn project, eyes JSE for rejigged energy coal
South32 CEO Graham Kerr

South Africa to outline 'decisive' policy in 2018 after debt rating cut

By: Reuters     25th November 2017 South Africa will use its annual budget next year to outline "decisive" policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its local currency debt to "junk" status. "The 2018 Budget will outline decisive and specific policy measures to... 

IMF credit to Chad delayed over Glencore oil debt

By: Reuters     24th November 2017 Chad's stalled talks with Glencore on restructuring more than $1 billion in debt due to the trading firm has delayed the release of IMF funds for the struggling central African country until at least early next year, sources familiar with the matter said. The International Monetary Fund has said... 

Wärtsilä to build utility-scale solar power plant in Nigeria

By: Megan van Wyngaardt     24th November 2017 Technology group Wärtsilä has been awarded the engineering, procurement and construction contract for its first utility-scale solar photovoltaic (PV) power plant, in Nigeria. The 75MW plant is being developed by Pan Africa Solar and, when operational, will be the largest in Nigeria; and one of... 

Growing domestic demand at heart of plan to create a million manufacturing jobs 

By: Terence Creamer     24th November 2017 The Manufacturing Circle released a plan on Friday outlining how South Africa could create a million jobs over a ten-year period through pursuing a series of reforms designed at stimulating demand for South African manufactured products and improving the investment climate. The 48-page document,... 

Growing domestic demand at heart of plan to create a million manufacturing jobs
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies and Manufacturing Circle chairperson André de Ruyter

Zambezi River Authority says Kariba dam works on track

By: Megan van Wyngaardt     24th November 2017 The $294-million Kariba dam rehabilitation project (KDRP) is progressing steadily, with the plunge pool currently in the implementation phase and the spillway refurbishment works under procurement, the Zambezi River Authority (ZRA) said on Friday. The authority, which operates, maintains and... 

Weak growth, rising debt could trigger deeper downgrades – SARB

By: Reuters     24th November 2017 South Africa's failure to stabilise the country's fiscal situation could see its credit rating downgraded deep into junk territory, the central bank said on Friday, just hours before two rating agencies were due to announce their decisions. Africa's most industrialised economy is on the brink of... 

Weak growth, rising debt could trigger deeper downgrades – SARB
Photo by Bloomberg
SARB deputy governor Daniel Mminele

Fitch keeps South Africa's credit ratings unchanged at BB+, stable outlook

By: Reuters     24th November 2017 Ratings firm Fitch kept both South Africa's local and foreign currency credit ratings unchanged at BB+, one notch below investment grade, with a stable outlook, the agency said on Thursday. In April, Fitch downgraded South Africa's credit rating to sub-investment grade after Prsident Jacob Zuma... 

Fitch keeps South Africa's credit ratings unchanged at BB+, stable outlook

Fitch is giving South Africa a chance to address issues – National Treasury

By: African News Agency      24th November 2017 Fitch ratings agency’s decision on Thursday, to maintain South Africa’s long-term foreign and local currency debt rating at BB+ has given the country a chance to address issues in a manner that will see an upward revision in its ratings, National Treasury said. It said the reprieve could not see... 

Fitch is giving South Africa a chance to address issues – National Treasury

Hawks probing Brian Molefe's R30m pension payout claims

By: News24Wire      24th November 2017 Trade Union Solidarity announced on Thursday that it would launch legal proceedings to force former Eskom CEO Brian Molefe to repay the "unlawful" R30-million pension payout he received. "Unlawful actions must bear consequences. An apology and even pay back [from Molefe], is not enough,"... 

Hawks probing Brian Molefe's R30m pension payout claims
Photo by Duane Daws
Former Eskom CEO Brian Molefe

Support Ramaphosa and we will not see a downgrade – Gordhan

By: News24Wire      24th November 2017 Former Finance Minister Pravin Gordhan on Thursday endorsed Deputy President Cyril Ramaphosa, saying he should be given a chance to implement his "New Deal" proposal. "If we support Ramaphosa I can guarantee you we will not see a downgrade," said Gordhan. 

Support Ramaphosa and we will not see a downgrade – Gordhan
Photo by Reuters
Former Finance Minister Pravin Gordhan

Microgrids add new arrow to Africa’s electricity access quiver

By: Mia Breytenbach     24th November 2017 The launch of a R25-million solar energy, lithium-ion battery storage microgrid on Robben Island – the World Heritage Site in Table Bay, Cape Town, which, until recently, relied on diesel to generate electricity – not only showcases the versatile advantages of microgrid technology, but also... 

Microgrids add new arrow to Africa’s electricity access quiver

Additional construction tenders for LHWP Phase 2 released

By: Nadine James     24th November 2017 Two more infrastructure construction tenders for Phase II of the Lesotho Highlands Water Project (LHWP) have been advertised, with construction expected to start next year. Phase II comprises a wide range of small and large contracts, and Lesotho Highlands Development Authority  (LHDA) divisional... 

Additional construction tenders for LHWP Phase 2 released
LESOTHO WATER PROJECT Phase II builds on the 2003 completion of Phase I and will increase the current supply rate to more than 1.26-billion cubic metres a year

Ecsa launches satellite office

By: Anine Kilian     23rd November 2017 In collaboration with the East London Industrial Development Zone (ELIDZ), the Engineering Council of South Africa (Ecsa) this week launched its first satellite office in East London.  “We are very excited to be launching our satellite office. During our annual stakeholder roadshows, East London... 

Cesa members’ optimism for 2018 waning

By: Anine Kilian     23rd November 2017 While the net satisfaction of Consulting Engineers South Africa's (Cesa’s) member firms improved significantly in 2017, they do not have high hopes for 2018 owing to the current political landscape, amid revelations of state capture and corruption allegations across key government entities. “Our... 

TCTA on track with projects

By: Anine Kilian     23rd November 2017 State-owned Trans Caledonian Tunnel Authority (TCTA) completed two significant projects, the Mooi-Mgeni Transfer Scheme (MMTS) Phase 2 and the Acid Mine Drainage Short-term Intervention (AMD-STI) Eastern Basin plant during the 2017 financial year, CEO Leonard Radzuma said on Thursday. Presenting... 

South Africa keeps rate at 6.75%, says risks to inflation rising

By: Reuters     23rd November 2017 South Africa's central bank kept its benchmark repo rate at 6.75% on Thursday, in-line with expectations, citing increased risks to inflation posed by currency weakness, possible credit downgrades and political jostling. "The lead-up to the African National Congress national elective conference... 

South Africa keeps rate at 6.75%, says risks to inflation rising
Photo by Reuters
Reserve Bank governor Lesetja Kganyago

Africa specialist punts local presence as key to capitalising as infrastructure spend set to boom

By: Megan van Wyngaardt     23rd November 2017 Through innovation in the energy sphere, Africa is slowly starting to overcome historical blockages that have prevented the continent from achieving economic growth and creating sustainable jobs, according to energy consultancy Africa House director Duncan Bonnett. Speaking at a PowerGen and... 

Africa specialist punts local presence as key to capitalising as infrastructure spend set to boom

GirlCode floats ambitions of becoming world’s largest women's digital agency

By: Dylan Slater     23rd November 2017 Nonprofit organisation (NPO) GirlCode, which aims to empower women in the technology sector, on Thursday revealed its new programmes for 2018, as well as its Vision 2030 ambitions, which includes reaching ten-million women by 2030. GirlCode chairperson Zandile Keebine commented that reaching that... 

China tells Myanmar military it wants closer ties

By: Reuters     23rd November 2017 China wants closer ties with Myanmar’s military to help protect regional peace and security, a senior Chinese general told the visiting head of the southeast Asian country’s army. China and Myanmar have had close diplomatic and economic ties for years, including increasingly in the strategically... 

Robben Island inaugurates solar PV microgrid  

     23rd November 2017 Robben Island, a World Heritage Site in Table Bay, Cape Town has gone green with the installation of a R25-million solar energy, lithium-ion battery storage microgrid. Mia Breytenbach has the details. 

Robben Island inaugurates solar PV microgrid
Robben Island inaugurates solar PV microgrid

Sudan's Bashir: we want to discuss nuclear power cooperation with Russia

By: Reuters     23rd November 2017 Sudanese President Omar Hassan al-Bashir told his Russian counterpart Vladimir Putin on Thursday he wanted to discuss nuclear power cooperation with Russia. Bashir was speaking before talks with Putin in the southern Russian city of Sochi on Thursday. 

AMSA welcomes designation of local steel for rail sector  

By: Creamer Media Reporter      23rd November 2017 ArcelorMittal South Africa (AMSA) on Thursday welcomed the latest designations by the Department of Trade and Industry (DTI) of the local content threshold for local production and content in the rail permanent way sector. A permanent way is the structure, comprising the rails, fasteners,... 

New Diepsloot mall opened to address access to community-specific retail requirements

By: Dylan Slater     23rd November 2017 A new 18 000 m² single-level semi-enclosed shopping mall in Diepsloot West, Gauteng, opened to the public on Thursday. 

New Diepsloot mall opened to address access to community-specific retail requirements
An artists illustration of how the Bambanani Shopping Mall will look in Diepsloot

What is next for Zimbabwe? 

     23rd November 2017 As Zimbabwe enters the post-Mugabe era, Creamer Media Senior Deputy Editor Martin Zhuwakinyu tells Creamer Media’s Chanel de Bruyn more about Zimbabwe’s new interim President Emmerson Mnangagwa and what changes he may implement to reignite economic growth in the country. 

What is next for Zimbabwe?
What is next for Zimbabwe?

African operations shine as PPC delivers higher H1 earnings

By: Natasha Odendaal     23rd November 2017 Cement producer PPC produced double-digit earnings for the first half of the 2018 financial year, with the JSE-listed group’s rest of Africa cement operations delivering a shining performance. For the six months ended September 30, net profit attributable to PPC shareholders increased by 188% to... 

African operations shine as PPC delivers higher H1 earnings

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver
Photo by Duane Daws
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell

Municipalities in South Africa owe R10bn for water, cuts looming

By: African News Agency      23rd November 2017 The Department of Water and Sanitation on Wednesday said that it was issuing notices to at least 30 municipalities that water supplies will be cut off, by December 8, should they fail to pay their water debt that has been outstanding for more than 60 days. “A total outstanding water debt of... 

Britain to hike levy on most polluting diesel cars

By: Reuters     22nd November 2017 Britain will increase the amount of taxation paid by those driving diesel cars that do not meet more stringent emissions standards, finance minister Philip Hammond said on Wednesday. Vehicle Excise Duty (VED) is paid by British drivers with one rate applying in the first year dependent on... 

South Africa to stabilise debt in next year's budget – Gigaba

By: Reuters     22nd November 2017 South Africa will implement spending cuts of R25-billion ($1.8-billion) and raise revenue by R15-billion in next year's budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40-billion, or 0.8% of GDP, would be used to tackle rising... 

Group Five to sell stake in noncore pipes business for R80m

By: Megan van Wyngaardt     22nd November 2017 JSE-listed construction company Group Five will sell its 50% interest in Group Five Pipe to LB Pipes for R80-million. “Although the manufacturing cluster remains a strong performer within the group and contributes solid earnings and cash flow, it is regarded as a noncore operation,” Group Five... 

Road infrastructure theft and vandalism costing Joburg millions

By: Megan van Wyngaardt     22nd November 2017 City of Johannesburg Mayor Herman Mashaba has called for immediate intervention to stop the theft and vandalism of road-related infrastructure, which in the first five months of the current financial year cost the city R12.3-million. This included the theft and damage of man-hole covers, traffic... 

Road infrastructure theft and vandalism costing Joburg millions

Sibanye share price rises on gold tailings deal with DRDGold

By: Martin Creamer     22nd November 2017 The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of... 

Sibanye share price rises on gold tailings deal with DRDGold
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman (left) and DRDGold CEO Niël Pretorius.

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