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Latest News

Cape Town ordered to reduce water consumption by 40%

By: News24Wire      3rd October 2017 The Department of Water and Sanitation has told the City of Cape Town to reduce overall water consumption by 40%, the city said on Monday. The department is the custodian of all national water resources. 

Zambia awards Austrian firm Kapsch contract to improve road safety

By: Reuters     3rd October 2017 Zambia has awarded Austria's Kapsch TrafficCom a joint venture contract to design, install and operate a road traffic surveillance system to curb accidents, the company said on Monday. The number of vehicles on Zambia's roads almost tripled to 700 000 in the ten years to 2016, increasing road... 

Production losses as result of bird flu estimated to be in region of R800m in Western Cape

By: African News Agency      2nd October 2017 Early estimates suggest an outbreak of avian influenza has led to production losses of around R800-million in the Western Cape, Economic Opportunities MEC Alan Winde said on Monday. In a statement, Winde said there were at least 36 confirmed cases of avian flu. Seventy ostrich farms were under... 

Building, civil engineering confidence slips two points in Q3

By: Natasha Odendaal     2nd October 2017 The ongoing pessimism in the general building and civil engineering contractors’ sectors is being seen in the Construction Industry Development Board’s (CIDB’s) latest small and medium-sized enterprise (SME) Business Conditions Survey, which slid two points to 40 in the third quarter. The... 

Guptas oppose application to freeze R1.75bn coal mine rehab funds – Outa

By: Creamer Media Reporter      2nd October 2017 The Organisation Undoing Tax Abuse (Outa) says the business group owned by the Gupta family is opposing its application to freeze the R1.75-billion mine rehabilitation funds for two of its coal mines. Outa last week succeeded in obtaining an interim order from the Pretoria High Court which... 

Bird flu causes more harm for Quantum Foods

By: African News Agency      2nd October 2017 Egg producer Quantum Foods on Monday temporarily closed down the remaining two sites of the Lemoenkloof commercial layer farm as the outbreak of highly pathogenic Avian Influenza (AI) continued to plague its eggs farms in the Western Cape. The recent outbreaks of the highly pathogenic avian... 

New-vehicle sales up 6.3% y/y in September

By: Reuters     2nd October 2017 South Africa's new vehicle sales rose 6.3% year-on-year to 50 322 units in September, data from the trade and industry department showed on Monday. Exports were up 10.3% to 36 134 units compared with the same month a year earlier, the department said. 

Blitz delivering ahead of schedule – Sibanye-Stillwater 

By: Martin Creamer     2nd October 2017 Production is under way three months ahead of schedule at Sibanye-Stillwater’s Blitz project in the US, where the completion of a secondary escape-way system concluded the final infrastructure required for the production to begin. An upside for Sibanye-Stillwater shareholders is the rapid ramping... 

Blitz delivering ahead of schedule – Sibanye-Stillwater
Blitz project (bottom right) is a brownfield extension of the Stillwater Mine.

Absa PMI rises slightly in September; remains below 50

By: Anine Kilian     2nd October 2017 The Absa Purchasing Manager’s Index (PMI), compiled by the Bureau for Economic Research (BER), nudged slightly higher to a still weak level of 44.9 in September from 44 in August. The index has been well below its neutral level of 50 for four consecutive months. 

BMW SA to invest another R160m in Rosslyn plant

By: Anine Kilian     2nd October 2017 BMW Group South Africa (BMW SA) will invest an additional R160-million into its Rosslyn manufacturing facility to enhance production linespeed. The enhancement raises the maximum production capacity by almost 10%, from 71 000 units to 76 000 units, leaving the plant with potential in the future... 

BMW SA to invest another R160m in Rosslyn plant
Photo by Duane Daws
BMW SA CEO Tim Abbott

Petrol price to increase by 29c a litre in October

By: Reuters     2nd October 2017 The retail price of petrol in South Africa will increase by 2.1% from Wednesday, while the price of wholesale diesel will rise by 3.6%, the energy department said on Monday. The price of petrol will rise by 29c to R14.01 a litre in the commercial hub of Gauteng province, while diesel will go up... 

Petrol price to increase by 29c a litre in October

Sun International reviews Panama and Colombia operations

By: Reuters     2nd October 2017 South Africa's Sun International is looking to sell certain assets it has in the Ocean Sun Casino in Panama and is planning to exit the Sun Nao Casino in Colombia, the casino and hotel operator's chief executive said on Monday. Stiff competition, fewer available casino licences and consumers... 

Coal of Africa sells Mooiplaats

By: Martin Creamer     2nd October 2017 The sale of the Mooiplaats Colliery is the final step in Coal of Africa’s balance sheet restructuring strategy, setting the course for the company to become a self-sufficient mid-tier coal mining company, CEO David Brown said on Monday. Mooiplaats, which has been on care and maintenance since... 

Coal of Africa sells Mooiplaats
Photo by Duane Daws
Coal of Africa CEO David Brown

SacOil acquires Belton Park for up to R220m

By: Anine Kilian     2nd October 2017 Independent oil and gas company SacOil will acquire the assets and operations of independent fuel wholesaler and distributor Belton Park for up to R220-million. Belton Park owns a substantial fleet of heavy-duty tankers that distribute over 20-million litres of fuel products a month to a... 

AfDB approves $200m to IDC to support industrialisation projects in Africa

By: Anine Kilian     2nd October 2017 The African Development Bank Group (AfDB) has approved a private sector multicurrency line of credit of $100-million and R1.3-billion to South Africa’s Industrial Development Corporation (IDC). The operation will support industrialisation projects in South Africa and in other regional member... 

Conference to tackle maritime training challenges

By: Anine Kilian     2nd October 2017 Challenges and solutions facing the maritime training sector will be discussed at the first Maritime Education & Training (MET) conference, which will be hosted by the South African International Maritime Institute (Saimi) from November 14 to 17, in Cape Town. The aim of the conference is to find... 

Metalworkers to intensify wage strike at South32 smelter in South Africa

By: African News Agency      2nd October 2017 The National Union of Metalworkers of South Africa (Numsa) on Monday vowed to intensify the strike against Australian miner South32 in Richards Bay, KwaZulu-Natal, after a marathon negotiation session to resolve the strike was deadlocked. The global mining company has an aluminium smelter in... 

City of Johannesburg paves way for inner city housing revitalisation 

By: African News Agency      2nd October 2017 The Johannesburg city council has approved a plan to tackle the housing problem within the inner city and creating safe, clean, and connected communities with access to economic opportunities, mayor Herman Mashaba said on Sunday. The council had made 12 city-owned properties available for... 

Taste to sell luxury goods division in group restructure

By: Anine Kilian     29th September 2017 JSE-listed fast-food business franchising group Taste Holdings has decided that each of its food and luxury goods divisions would be better served as stand-alone businesses and that it will sell its luxury goods division in due course. Part of this intended restructure will see Taste settle its... 

Interest building in attractive tax incentive for mine owners

By: Martin Creamer     29th September 2017 Interest is building in the Section 12J of the Income Tax Act incentive structure introduced by Treasury to promote venture capital investments and stimulate growth and job creation in the South African economy, Mining Weekly Online can report. The aim of Section 12J is to encourage investment... 

Interest building in attractive tax incentive for mine owners
Photo by Jaltech
Possible structure for Section 12J tax incentive

Altron grows UK presence with software reseller acquisition

By: Schalk Burger     29th September 2017 JSE-listed information and communication technology (ICT) company Altron, through its subsidiary Bytes UK, has acquired information technology (IT) reseller and solutions provider Phoenix Software. The acquisition has bolstered its presence in the UK value-added reseller market segment and... 

Opinion: Minister Kubayi’s Renewable Energy Plan: Does it signify progress or regression?

     29th September 2017 In this opinion piece, Sener regional MD Siyabonga Mbanjwa expresses the hope that both the current moratorium on new renewable-energy projects and the proposed 77c/kWh tariff cap will be reconsidered during industry consultations.  

Opinion: Minister Kubayi’s Renewable Energy Plan: Does it signify progress or regression?
Sener regional MD Siyabonga Mbanjwa

South African space sector needs more support but has to market itself better

By: Keith Campbell     29th September 2017 South Africa's space sector has been hobbled by lack of adequate support from the South African government. This was made clear during a panel discussion on space technology at the Aerospace, Maritime and Defence Conference 2017 in Pretoria on Friday. "Most space programmes, worldwide, have been... 

Trade surplus eases to R6bn in August

By: Reuters     29th September 2017 South Africa's trade surplus retreated to R5.94-billion ($440-million) in August from a revised R9.33-billion surplus in July, data from the revenue agency showed on Friday. Exports rose 11% to R103.4-billion on a month-on-month basis in August, while imports were up 16.3% to R97.4-billion, the... 

Sanral releases draft empowerment policy it hopes will have snowball effect

By: Irma Venter     29th September 2017 The South African National Roads Agency Limited (Sanral) on Friday launched a draft transformation policy that seeks to have a “snowball effect” on the larger South African construction industry, says CEO Skhumbuzo Macozoma. “This policy is going to trigger a review of our supply chain management... 

Sanral releases draft empowerment policy it hopes will have snowball effect
Photo by Duane Daws
Sanral CEO Skhumbuzo Macozoma

Zambia to start building two new power plants in 2018 – finance minister

By: Reuters     29th September 2017 Zambia plans to start building two power generation plants that will add 550 MW of electricity to its national grid once completed, Finance Minister Felix Mutati said on Friday. Mutati said in a budget speech one investor planned to build a 300 MW thermal power station in southern Zambia and... 

Delayed hearing into wind body’s Eskom complaint moves ahead

By: Terence Creamer     29th September 2017 The National Energy Regulator of South Africa (Nersa) hosted a closed hearing on Friday as part of its investigation of a complaint by the South African Wind Energy Association (SAWEA) against Eskom. SAWEA, which lodged the grievance in October 2016, alleges that the State-owned utility’s refusal... 

Delayed hearing into wind body’s Eskom complaint moves ahead

NSBE-SA to host AGM, conference in October

By: Anine Kilian     29th September 2017 The National Society of Black Engineers of South Africa (NSBE-SA) will hold its annual general meeting (AGM), conference and gala dinner on October 20. The theme of this year’s conference is ‘20 Years of transforming the Engineering Profession and Making the National Development Plan (NDP) a... 

Eskom CFO Anoj Singh officially suspended

By: News24Wire      29th September 2017 Eskom has suspended Anoj Singh, chief financial officer, pending a disciplinary hearing, the power utility said in a statement on Friday. Singh was placed on special leave at the end of July by Eskom's board of directors until an investigation into his conduct had been concluded. His exit... 

Eskom CFO Anoj Singh officially suspended
Photo by Duane Daws
Eskom CFO Anoj Singh

Weak market weighs on Accéntuate’s FY17 financial performance

By: Anine Kilian     29th September 2017 Sluggish infrastructure spend and the recessionary environment in the construction, manufacturing and mining sectors negatively impacted on JSE-listed Accentuate’s results for the financial year ended June 30. The company’s revenue decreased by 7% to R300-million. 

SAPVIA member appointed Global Solar Council director

By: Schalk Burger     29th September 2017 South African Photovoltaic Industry Association (SAPVIA) programme manager Niveshen Govender has been elected to serve as director on the Global Solar Council (GSC) board. The GSC was established during the twenty-first Conference of Parties climate dialogue, held in Paris, France, in 2015. It... 

AfDB sells first $39m Industrialise Africa theme bond

By: Schalk Burger     29th September 2017 Development finance institution, the African Development Bank (AfDB), has sold an Industrialise Africa theme bond to Fukoku Mutual Life Insurance Company for $39.21-million. The bond, which will mature at the end of September 2027, will be used to support private sector industrial development and... 

Govt uses National Revenue Fund to bail out SAA

By: African News Agency      29th September 2017 The South African government on Friday approved the transfer of funds from the National Revenue Fund (NRF) to troubled national carrier South African Airways (SAA) to allow the airline to meet its debt obligations to Citibank and avoid a default. SAA has to meet its repayment obligations on a... 

Govt uses National Revenue Fund to bail out SAA

South African industry must adapt 4th Industrial Revolution to local needs

By: Keith Campbell     29th September 2017 South African industry needs to find ways of adapting and using the technologies driving the so-called Fourth Industrial Revolution (or Industry 4.0) to remain globally competitive, yet maintain and create jobs in a high-unemployment environment. So argued productONE MD Charles Anderson at the... 

Fastjet to raise cash to fund South Africa, Mozambique growth

By: Reuters     29th September 2017 African budget airline Fastjet Plc said on Friday it would raise not less than $44 million, in part through a placing, to fund expansion in South Africa and Mozambique. Fastjet plans an accelerated bookbuild to raise gross cash proceeds of $28 million and would sell 60 million shares to Solenta... 

High Court rules against DA in State capture inquiry case

By: News24Wire      29th September 2017 The High Court in Pretoria has granted President Jacob Zuma a stay in immediately implementing a judicial commission of inquiry as recommended in the Public Protector's State of Capture report. This is until his application for a review of that remedial action recommended by the report is heard... 

High Court rules against DA in State capture inquiry case

Political certainty needed for economic reform in South Africa – Kganyago

By: Reuters     29th September 2017 South Africa must sort out its political problems in order to kickstart structural reform and unlock economic growth, central bank governor Lesetja Kganyago told Reuters on Thursday. Speaking on the sidelines of a conference organised in London by the Bank of England, Kganyago also said financial... 

Political certainty needed for economic reform in South Africa – Kganyago
Reserve Bank Governor Lesetja Kganyago

Trade deals, emissions laws set to challenge SA auto industry, warns Toyota Europe’s Van Zyl

By: Irma Venter     29th September 2017 In an effort to clean up ever-increasing pollution, the UK in July announced a proposal that sales of new diesel and petrol cars would come to an end by 2040. This announcement mirrors one made earlier by the French government, with a similar timeline and intent. This means two of South Africa’s... 

Trade deals, emissions laws set to challenge SA auto industry, warns Toyota Europe’s Van Zyl

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