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Macro and Micro News

Guptas sell ANN7 and The New Age to Mzwanele Manyi

By: News24Wire      21st August 2017 A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it was announced on Monday. Gupta-owned Oakbay Investments said in a statement that Manyi-owned Lodidox bought ANN7 (Infinity Media) for R300-million and The New Age (TNA Media) for R150-million. 

Discovery CE scoops innovation award

By: Kim Cloete     18th August 2017 Discovery Group CE Adrian Gore has been awarded the 2017 Growth, Innovation and Leadership (GIL) Visionary Innovation Award: Africa 2017. He received the award from global research and consulting organisation Frost & Sullivan, which, this week, hosted its yearly GIL Africa summit, in Cape Town.... 

Cost of disintegration to thwart de-globalisation efforts, Lamy avers 

By: Terence Creamer     18th August 2017 Former World Trade Organisation director-general Pascal Lamy sees no turning back from globalisation, despite the current rise in political nationalism and trade protectionism. Speaking in Johannesburg this week, Lamy argued that the cost of “disintegration” would simply be too high for countries... 

Cost of disintegration to thwart de-globalisation efforts, Lamy avers
Pascal Lamy

Opinion: Turning the chicken war into a trade war

     18th August 2017 In this opinion article, XA director Donald Mackay questions why legitimate legal processes are being overlooked in the dispute over European Union chicken imports. Mackay acknowledges that his consultancy is not a disinterested party in the matter. I read the recent fiery opinion piece by... 

Opinion: Turning the chicken war into a trade war
Donald Mackay

South Africa rate cut likely in November; possibility of September

By: Reuters     18th August 2017 South Africa's Reserve Bank is expected to cut interest rates again in November and possibly even September given the relatively tame inflation outlook, a Reuters poll found on Friday. The central bank unexpectedly cut its repo rate by 25 basis points to 6.75% for the first time in five years in... 

Govt denies rumours of 'super presidency' taking over budget process

By: News24Wire      17th August 2017 Communications Minister Ayanda Dlodlo on Wednesday downplayed suggestions that government wants to create a so-called super presidency by having a hand in budgetary processes. During a media briefing following the Cabinet meeting, Dlodlo said Cabinet approved the mandate paper for the 2018 Budget. 

 Govt denies rumours of 'super presidency' taking over budget process
Communications Minister Ayanda Dlodlo

New Brics bank plans $1.5bn lending for South African projects 

By: Reuters     17th August 2017 The New Development Bank (NDB) set up by the Brics group of emerging economies plans to lend $1.5-billion to South Africa for infrastructure projects over the next eighteen months. The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the infrastructure-focussed lender in... 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

New Development Bank to benefit Africa – Zuma
President Jacob Zuma

DPO acquires VCS South Africa

By: Creamer Media Reporter      17th August 2017 Payment services provider Direct Pay Online (DPO) Group has acquired Virtual Card Services (VCS) South Africa. This marks the completion of DPO’s purchase of the VCS group, following the earlier acquisition of VCS Namibia and VCS Botswana. It also bolsters DPO’s position in Southern Africa post... 

In a context of State capture, the ‘developmental-State project is almost dead’ 

By: Terence Creamer     17th August 2017 In the context of State capture and corruption, former Deputy Finance Minister Mcebisi Jonas believes South Africa’s “developmental-State project is almost dead”, with resources being diverted away form dealing with the country’s serious unemployment crisis towards poorly governed State-owned... 

In a context of State capture, the ‘developmental-State project is almost dead’
Mcebisi Jonas

Krugerrand demand resurgence anticipated to result in record sales  

By: Ilan Solomons     16th August 2017 Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining... 

Krugerrand demand resurgence anticipated to result in record sales
Rand Refinery marketing executive head Richard Collocott discusses the significance of the fiftieth anniversary of the launch of the gold bullion Krugerrand

CSIR lauds female researcher for obtaining doctorate in spatial statistics 

     16th August 2017 Dr Sibusisiwe Khuluse-Makhanya has become the first black female researcher at the Council for Scientific and Industrial Research (CSIR) to obtain a PhD in spatial statistics.   Her PhD, which is titled ‘Spatial Statistical Modelling of Urban Particulate Matter’, was conferred at a graduation... 

Parliamentary State capture probe hits first hurdle

By: African News Agency      16th August 2017 The investigation into State capture by Parliament’s portfolio committee on public enterprises on Wednesday hit its first hurdle as it was confirmed to members that the legislature would not pay for an independent evidence leader. Acting chairperson Zukiswa Rantho told MPs she had asked the chair... 

Parliamentary State capture probe hits first hurdle

No agreement of sugar tax yet, says BevSA

By: African News Agency      16th August 2017 The Beverage Association of South Africa (BevSA) on Wednesday, dismissed reports that there was an agreement on the Health Promotion Levy at the National Economic Development and Labour Council (Nedlac). BevSA is opposing the introduction of a 20% tax on sugary beverages, or what has been... 

4AX appoints new CFO, COO

By: Creamer Media Reporter      16th August 2017 New exchange 4 Africa Exchange (4AX), has appointed Lindiwe Ndlela CFO and Anthony van Eden COO.   Ndlela, who joined the exchange in July, has extensive experience in the information and communications technology, manufacturing and engineering industries.   Van Eden, who joined 4AX on August 1,... 

Moody's says South Africa's political tensions constraining growth

By: Reuters     16th August 2017 Political tensions in the ruling African National Congress will weigh on South Africa's growth, ratings agency Moody's said on Wednesday. President Jacob Zuma survived a no-confidence vote in parliament last week but a few dozen lawmakers from his own party supported the motion that would have... 

Housing supply remains a moving target as govt plays catch-up

By: Natasha Odendaal     15th August 2017 South African cities are struggling to match housing availability to the pace of urbanisation, with the many South African and foreign migrants adding to an ever-expanding population and placing further pressure on housing supply, which is already backlogged owing to a reduction in household... 

Housing supply remains a moving target as govt plays catch-up
Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

Central banks vital for Africa’s integration, says Zuma

By: African News Agency      15th August 2017 President Jacob Zuma has encouraged African central bank governors gathered in Pretoria for the 2017 Governors’ Symposium of the Association of African Central Banks (AACB) to explore ways to improve economic integration, including linking payment systems, across borders on the continent.... 

Public urged to participate in police leadership survey 

By: Sane Dhlamini     15th August 2017 Nonprofit organisation Corruption Watch (CW) and the Institute for Security Studies (ISS) have launched a survey, on the eve of the commemoration of the Marikana massacre, seeking public input on the selection of the new South African Police Service (Saps) national commissioner and the head of... 

Public urged to participate in police leadership survey

July trade activity index reflects ‘reserved’ trade conditions – Sacci

By: Creamer Media Reporter      15th August 2017 The South African Chamber of Commerce and Industry (Sacci) Trade Activity Index (TAI) stood at 47 in July, reflecting “reserved” trade conditions, with the TAI still below 50. The seasonally adjusted TAI, however, improved by a further two index points to 51 in July. This was three points higher... 

SARB welcomes court judgment affirming its mandate

By: Reuters     15th August 2017 The South African Reserve Bank (SARB) welcomed a High Court judgment affirming the institution’s inflation targeting mandate, the bank's governor said on Tuesday. Public Protector Busisiwe Mkhwebane sparked a political row and a big sell-off in the rand currency when she proposed in June that the... 

Court quashes anti-graft watchdog proposal to change SARB's mandate

By: Reuters     15th August 2017 A South African court rejected on Tuesday a call by the anti-graft watchdog for the South African Reserve Bank (SARB) to focus its monetary policy on boosting economic growth instead of on fighting inflation and keeping the rand currency stable. Public Protector Busisiwe Mkhwebane, whose job is... 

Court quashes anti-graft watchdog proposal to change SARB's mandate

Rand slips as court to rule on SARB mandate

By: Reuters     15th August 2017 South Africa's rand was slightly weaker on Tuesday ahead of a court ruling on the central bank's inflation targeting mandate and an economic update by ratings agency Moody's. At 0717 GMT, the rand traded at 13.3400 versus the dollar, down 0.2% from its New York close on 13.3225. 

Western Cape confirms presence of H5N8 bird flu

By: Reuters     15th August 2017 South Africa's Western Cape has detected type H5N8 bird flu on two ostrich farms, the province's agriculture department said on Tuesday. The virus is highly pathogenic in birds but considered unlikely to infect humans. 

Highveld to pursue safeguard protection on heavy structural steel products 

By: Terence Creamer     14th August 2017 Highveld Steel, which recently reopened its heavy structural mill in Mpumalanga despite still being in business rescue, has welcomed the institution of 10% import-duty protection on certain heavy steel sections and shapes. However, CEO Johan Burger tells Engineering News Online that Highveld... 

Highveld to pursue safeguard protection on heavy structural steel products
Photo by Duane Daws
Highveld's recently reopened structural mill

Egypt streamlines industrial licensing to boost investment

By: Reuters     14th August 2017 Egypt announced executive regulations on Sunday for a new industrial licensing law it says will slash bureaucracy and decrease the waiting time for new projects, reforms it hopes will draw badly needed investment. Egypt's economy has struggled since a 2011 uprising drove tourists and investors... 

City of Johannesburg aims to make billing woes 'history'

By: News24Wire      14th August 2017 The City of Johannesburg declared its ''Billing Open Day'' on Saturday a resounding success, and promised to get rid of the backlog of over 17 000 billing disputes soon. This was after officials from the City of Johannesburg, notorious for its billing problems, set up shop at Mark's Park in... 

City of Johannesburg aims to make billing woes 'history'
Johannesburg Mayor Herman Mashaba

US Embassy welcomes new Consul General to Cape Town

     11th August 2017 Consul General Virginia Blaser has been appointed to lead the Consulate General in Cape Town. “Consul General Blaser brings extensive experience from across the continent, where she led key US embassies, promoting trade and investment, empowering women and young leaders, and supporting... 

US Embassy welcomes new Consul General to Cape Town
Virginia Blaser

Brics development bank confirms Treasury DG as South Africa’s representative

By: Creamer Media Reporter      11th August 2017 The Brics New Development Bank (NDB) has appointed National Treasury director-general Dondo Mogajane as the new director representing South Africa. He is succeeding Tito Mboweni whose term of service as director expired in early July after two years. 

Brics development bank confirms Treasury DG as South Africa’s representative
Photo by Duane Daws
National Treasury director-general Dondo Mogajane

Rand edges up before Moody's rating decision

By: Reuters     11th August 2017 South Africa's rand strengthened on Friday as escalating geopolitical tension between the United States and North Korea drove up demand for safe-haven assets like gold and platinum, lifting the currencies of commodity exporters. At 0640 GMT, the rand was 0.11% firmer at 13.4450 per dollar... 

Rand edges up before Moody's rating decision

IMF revises Botswana's 2017 growth forecast as diamond demand rises

By: Reuters     10th August 2017 The International Monetary Fund (IMF) has revised Botswana's 2017 and 2018 economic growth forecast due to rising diamond demand, investment in the water and power sector and reforms to attract investment. The IMF on Wednesday lifted diamond-producer's 2017 and 2018 economic growth forecast to... 

Manufacturing output down 2.3% y/y in June

By: Reuters     10th August 2017 South Africa's manufacturing output fell 2.3% year-on-year in June after contracting by a revised 0.9% in May, Statistics South Africa said on Thursday. Economists polled by Reuters had forecast manufacturing volumes would contract by 2.5% year-on-year in June. 

Tanzania Q1 growth slows to 5.7%

By: Reuters     10th August 2017 Tanzanian growth slowed to 5.7% in the first quarter of this year, hurt by slower-than-expected performance of construction, transport, agriculture and the financial services sectors, the statistics office said on Thursday. Growth in the same period of 2016 was 6.8%. 

Labour department examining 72 firms over equity law compliance 

By: Reuters     10th August 2017 South Africa has started a review to inspect 72 JSE-listed firms to ensure compliance with employment equity laws, the Department of Labour said on Thursday. South Africa's employment equity legislation aims to remove unfair discrimination and accelerate diversity in workplaces as the government... 

Eskom to sell more surplus power in major turnaround

By: Reuters     10th August 2017 South African power utility Eskom is to start selling more of its surplus capacity as new plants come on line, its acting chief executive said on Thursday, marking a shift from two years ago when the company had to conserve power because of shortages. South Africa had regular power cuts in 2015... 

Informal economy not enough to handle Africa's workforce explosion

By: Reuters     10th August 2017 Unemployment in Nigeria, sub-Saharan Africa's largest economy, is running at more than 14% and climbing; in South Africa, the second largest economy, it is over 27%. For youth in both places, it is far more. This may seem bad enough, but according to International Monetary Fund calculations the... 

Informal economy not enough to handle Africa's workforce explosion

Zuma survives no confidence vote, opposition vow to step up pressure

By: African News Agency      8th August 2017 President Jacob Zuma on Tuesday survived a vote of no confidence in the National Assembly, but the result indicated that a significant number of African National Congress (ANC) MPs broke ranks to support the opposition motion. Speaker Baleka Mbete announced that 177 MPs voted in favour of the... 

Zuma survives no confidence vote, opposition vow to step up pressure
Photo by Reuters
President Jacob Zuma
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