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Macro and Micro News

ExecuJet to offer customers new experience with super versatile jet

By: Simone Liedtke     19th October 2018 Luxury aviation company ExecuJet will, on October 25, officially launch and welcome the Pilatus PC-24 to its fleet at the company’s private terminal at Cape Town International Airport. The aircraft, which was developed by Swiss original-equipment manufacturer Pilatus, is the first of its type... 

Revived SARS illicit economy unit already eyeing 58 cases, says Kingon

By: News24Wire      19th October 2018 The soon-to-be reopened South African Revenue Service (SARS) unit probing the illicit economy has already identified 58 cases for investigation, the tax agency's Acting Commissioner Mark Kingon told the Nugent Commission of Inquiry on Friday.  The unit was one of several shut down under the... 

 Revived SARS illicit economy unit already eyeing 58 cases, says Kingon

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

Flirting with populism? Ask Venezuela how that went – SARB head Kganyago

By: News24Wire      19th October 2018 South African Reserve Bank (SARB) Governor Lesetja Kganyago has warned leaders that a wave of populism sweeping a number of global economies was a sign that leaders should be more responsible and accountable.  Speaking at the Association of Black Securities and Investment Professionals conference... 

 Flirting with populism? Ask Venezuela how that went – SARB head Kganyago
Photo by Reuters
SARB Governor Lesetja Kganyago

Nhlanhla Nene resigns as MP 

By: News24Wire      19th October 2018 After falling on his sword as minister of finance, Nhlanhla Nene has also resigned as an MP, the African National Congress (ANC) confirmed on Friday. ANC chief whip Jackson Mthembu's office received Nene's resignation letter on Friday. This follows Nene's testimony before the commission of... 

Nhlanhla Nene resigns as MP
Former Finance Minister Nhlanhla Nene

Sub-Saharan Africa's big economies yet to recover

By: Reuters     19th October 2018 Sub-Saharan Africa's economic recovery will progress slowly into next year, as the continent's biggest drivers struggle to move into higher gear despite a healthier global economy, a Reuters poll found on Friday. Commodity prices have improved and the global economy is in good shape, but Nigeria... 

Economic growth the missing key to South Africa's investment drive – Jacko Maree

By: African News Agency      19th October 2018 Special envoy on investment Jacko Maree on Thursday said that the missing key to South Africa's investment drive was economic growth and confidence in the socio-political and socioeconomic environment of the country.  In April, President Cyril Ramaphosa appointed Maree and four other special... 

EOH hopes restructuring will create new growth platform

By: Schalk Burger     19th October 2018 JSE-listed information technology group EOH has separated into two companies as part of its work to renew the business and position it for growth. The EOH-branded information and communication technology (ICT) business will focus on digital services in a digitising economy and the Nextec company... 

Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner 

By: Terence Creamer     18th October 2018 Chinese tech sensation Jack Ma will deliver the keynote speech at a dinner to be hosted by President Cyril Ramaphosa on October 26 as part of the inaugural South Africa Investment Conference. The conference will take place at the Sandton Convention Centre, in Gauteng, from October 25 to 27, in... 

Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner
Jack Ma

M&A activity slowly increasing in Africa

By: Marleny Arnoldi     18th October 2018 Merger and acquisition (M&A) activity has been slower in South Africa, compared with prior years; however, other African countries have seen an increase in deals closed, said Hogan Lovells partner Sibongile Solombela at the firm’s Africa Forum conference held on Thursday. M&A activity is still... 

Getting Africa fit for the future requires good governance – Africa Forum

By: Marleny Arnoldi     18th October 2018 Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is a combination of optimism and scepticism, but stressed that the available opportunities were enormous. “Currency, corruption and certainty need... 

Getting Africa fit for the future requires good governance – Africa Forum
Business Leadership South Africa CEO Bonang Mohale

Govt ready to woo potential investors at SA Investment Conference

By: African News Agency      18th October 2018 Confirmed attendees for next week's South Africa Investment Conference - government's attempt to unlock investment to grow the local economy and create jobs - include JSE listed companies with a market capitalisation of R6.5-trillion and Fortune 500 companies with a market cap of US$4-trillion,... 

Govt ready to woo potential investors at SA Investment Conference
Photo by Dylan Slater
Economic Development Minister Ebrahim Patel

South African slump batters smaller neighbours protecting rand peg

By: Bloomberg     18th October 2018 South Africans aren’t the only ones struggling through the country’s economic slump. The fortunes of Lesotho, Namibia, and eSwatini, formerly known as Swaziland, are beholden to developments in their larger neighbor with their exchange rates pegged to the rand, the worst-performing major currency... 

Ramaphosa orders inquiry at State pension fund

By: Reuters     18th October 2018 President Cyril Ramaphosa on Wednesday appointed a judicial inquiry into the R2-trillion State pension fund, a government gazette said, following corruption allegations. The PIC is Africa's biggest pension fund and the biggest investor in South Africa's economy holding a large volume of bonds... 

Ramaphosa orders inquiry at State pension fund
President Cyril Ramaphosa

Draft IRP comment deadline nears 

18th October 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the upcoming deadline for public comment on the draft Integrated Resource Plan (IRP), the main areas of contention and what Cabinet is likely to decide when deliberating on the final IRP. 

Draft IRP comment deadline nears
Draft IRP comment deadline nears

African countries can leapfrog technologies, if they understand the requirements

By: Rebecca Campbell     17th October 2018 The world, in trade and industrial terms, is being disrupted by both technological and political developments, providing opportunities but also posing risks to African countries. So highlighted University of Cape Town Mandela School of Public Governance Professor Carlos Lopes. On the... 

Sanral e-toll proposals are desperate threats – Outa

By: Sashnee Moodley     17th October 2018 The South African National Roads Agency Limited’s (Sanral’s) various proposals to try and force motorists to pay outstanding e-toll bills are desperate threats and will be extremely difficult to implement, said the Organisation Undoing Tax Abuse (Outa) on Wednesday. Sanral CEO Skhumbuzo Macozoma... 

Sanral e-toll proposals are desperate threats – Outa

Informal waste pickers should be integrated into formal waste management sector, suggests analyst

By: Marleny Arnoldi     17th October 2018 The informal waste economy in South Africa has been largely responsible for the high rates of post-consumer material recycling that have been achieved, GreenCape Sector Development Agency waste economy analyst Dr Kirsten Barnes noted during a presentation at WasteCon 2018, on Wednesday. Her... 

South Africa slips in WEF Global Competitiveness Index

By: African News Agency      17th October 2018 South Africa has fallen another five places in the World Economic Forum Global Competitiveness Index (WEF GCI), placing 67 out of 140 countries. The 2018 WEF GCI, released on Wednesday, scores 140 economies using 98 indicators organised into 12 pillars – institutions, infrastructure, ICT... 

South Africa slips in WEF Global Competitiveness Index

EnviroServ returning to its roots following Shongweni malodour issue

By: Simone Liedtke     16th October 2018 After acknowledging that its KwaZulu-Natal-based Shongweni landfill was a contributor to malodour, waste management company EnviroServ has returned to its “old way of disposing of waste”, which comprises using lime to raise the alkalinity (pH) levels at its landfill sites. This decision,... 

EnviroServ returning to its roots following Shongweni malodour issue
Shongweni landfill, in KwaZulu-Natal.

Moody's ratings review of South Africa to come after next week's budget – Treasury

By: Reuters     16th October 2018 South Africa expects Moody's to release its ratings review after next week's medium term budget policy statement (MTBPS), Dondo Mogajane, the director general of the National Treasury said on Tuesday. Mogajane said he met Moody's representatives at an international financial conference in Bali... 

Mboweni slams KPMG over role in VBS scandal

By: African News Agency      16th October 2018 Finance Minister Tito Mboweni on Tuesday condemned auditing firm KPMG for signing off on the financial statements of failed VBS Mutual Bank even though, according to a South African Reserve Bank report, it was clear that it had a shortfall of about R1-billion. "When you have a big auditing firm... 

Mboweni slams KPMG over role in VBS scandal
Finance minister Tito Mboweni

Used oil industry offering significant job creation potential, says foundation

By: Simone Liedtke     16th October 2018 Although still relatively young in South Africa, the economic contribution to the country through job creation in the used oil sector is looking very promising, according to a study commissioned by the Recycling Oil Saves the Environment (Rose) Foundation. A survey commissioned by the foundation... 

Mboweni has received preliminary report on PIC 

By: African News Agency      16th October 2018 Finance Minister Tito Mboweni on Tuesday said he had received a preliminary report on the Public Investment Corporation (PIC), suggesting this would hasten the start date of an inquiry announced by President Cyril Ramaphosa in August. "A preliminary report on the PIC was given to me by the deputy... 

Mboweni has received preliminary report on PIC
President Cyril Ramaphosa & Finance Minister Tito Mboweni

Treasury says recession, falling revenue dent public finances

By: Reuters     16th October 2018 South Africa will struggle to finance the public services that form the largest part of its budget due to falling revenues and an economic recession, the National Treasury told lawmakers on Tuesday. Africa's most industrialised economy slipped into recession in the second quarter for the first... 

Messe München South Africa acquires Air Cargo India, Air Cargo Africa exhibitions

By: Simone Liedtke     16th October 2018 International exhibition organiser Messe München has bought the Air Cargo India and Air Cargo Africa exhibitions from Indian publishing house Stat Trade Times. Air Cargo Africa is the largest air cargo trade fair in Africa, attracting over 80 exhibitors and 2 000 visitors from across the continent.  

CSIR seeks municipal partners for energy master plan pilot project 

By: Terence Creamer     16th October 2018 The Council for Scientific and Industrial Research (CSIR) aims to partner with a metropolitan council and a district municipality to compile pilot municipal energy master plans for electricity (MEMPs), which will provide the two councils with insight into the best electricity supply blends for... 

CSIR seeks municipal partners for energy master plan pilot project
CSIR Energy Centre head Dr Clinton Carter-Brown

Long4Life appoints CFO

By: Creamer Media Reporter      15th October 2018 JSE-listed Long4Life has appointed Mireille Levenstein CFO, effective November 1. She will succeed Peter Riskowitz, who is retiring on October 31. 

SA yet to achieve land reform in urban areas, says deputy minister

By: News24Wire      15th October 2018 There has not been any substantial land reform and restitution in urban areas in South Africa. So says Deputy Minister for Cooperative Governance and Traditional Affairs Andries Nel, who was speaking at the Planning Africa 2018 conference on Monday. 

SA yet to achieve land reform in urban areas, says deputy minister

TNPA tests helicopter service at Cape Town port 

By: Simone Liedtke     15th October 2018 Transnet National Ports Authority (TNPA) is exploring options to introduce a helicopter service at its Port of Cape Town to assist with operations during major swells and to increase the availability of service during stormy conditions. With Cape Town having been plagued recently by... 

Seifsa elects ‘most transformed’ board to date

By: Simone Liedtke     15th October 2018 Arabela Holdings executive chairperson Elias Monage has been elected president of the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and chairperson of its board of directors, with effect from October 12. Monage was elected president during Seifsa’s seventy-sixth annual... 

Steel Awards showcase resilience, workmanship in South African steel industry

By: Simone Liedtke     12th October 2018 South African Institute of Steel Construction (SAISC) CEO Paolo Trinchero believes the industry continues to produce “outstanding work, [which] demonstrates its capability and expertise”. Speaking at its yearly Steel Awards function on Thursday evening, he said there was continued perseverance in... 

Steel Awards showcase resilience, workmanship in South African steel industry

Sub-Saharan Africa’s economy growing, but better revenue mobilisation needed – IMF 

By: Marleny Arnoldi     12th October 2018 The macroenonomic outlook for sub-Saharan Africa continues to strengthen, with growth expected to increase from 2.7% in 2017 to 3.1% this year, the latest ‘Regional Economic Outlook’ report published by the International Monetary Fund (IMF) shows. The higher growth reflects domestic policy... 

Nene rollercoaster takes Nomura from major rand bear to bull

By: Bloomberg     11th October 2018 Nhlanhla Nene has been dropped from South Africa’s cabinet twice in three years – and his misfortunes have been the catalyst that turned one of the biggest rand bears into one of the biggest bulls. As the currency declined this week amid speculation that Nene would resign as finance minister,... 

Govt, fuels industry mull alternative pricing framework for petrol 

By: African News Agency      11th October 2018 Government was considering capping the price of 93 unleaded petrol, Energy Minister Jeff Radebe said on Thursday. Radebe, who joined his communications counterpart, Nomvula Mokonyane, during the post-cabinet media briefing, said they were consulting the industry on the proposal. 

Govt, fuels industry mull alternative pricing framework for petrol
Energy Minister Jeff Radebe

Ramaphosa treads 'softly-softly' in South Africa power play 

By: Bloomberg     11th October 2018 President Cyril Ramaphosa is caught in an intricate game of political chess as he seeks to stamp his authority on the government while maintaining a semblance of party unity before elections next year. While his finance minister and political ally, Nhlanhla Nene, resigned Tuesday after lying... 

Ramaphosa treads 'softly-softly' in South Africa power play
Cyril Ramaphosa and Tito Mboweni

Political, economic uncertainty and perception of corruption cloud sentiment on SA – PwC

By: African News Agency      11th October 2018 Recent political and economic uncertainty, including the perception of corruption, have clouded investor sentiment in South Africa, auditing firm PricewaterhouseCoopers (PwC) said on Thursday. A PwC report said trade openness and the efficiency of government regulation were among the most... 

 Political, economic uncertainty and perception of corruption cloud sentiment on SA – PwC
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