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Macro and Micro News

Leadership and inclusive growth to take centre stage at WEF on Africa

By: African News Agency      28th April 2017 Africa’s drive to generate inclusive economic growth and the leadership this requires will be the focus of the twenty-seventh World Economic Forum on Africa, taking place in Durban, South Africa, from May 3 to 5. The 27th World Economic Forum on Africa will convene over 1,000 leaders from more... 

South Africa's trade balance records R11.4bn surplus in March

By: Reuters     28th April 2017 South Africa's trade surplus grew sharply in March as commodity exports jumped on the back of strong global demand, raising the chances it will be able to narrow the current account deficit, which is seen as a key economic weakness. The treasury has an ambitious target to trim the current account... 

Zuma to lead Team SA at WEF Africa in Durban

By: African News Agency      28th April 2017 President Jacob Zuma will lead the South African delegation to the World Economic Forum in Africa, taking place in Durban next week, the Presidency confirmed on Friday. WEF Africa will be held at the Inkosi Albert Luthuli International Convention Centre from 3-5 May, under the theme “Achieving... 

Zuma to lead Team SA at WEF Africa in Durban
Photo by Duane Daws
President Jacob Zuma

State questions mental history of man accused of planning SA coup

By: African News Agency      28th April 2017 The State is questioning the mental history of a man who was allegedly plotting to assassinate South African government officials perceived as beneficiaries of State capture, including cabinet ministers, members of State-owned entities and other prominent South Africans. Elvis Ramosebudi appeared... 

State questions mental history of man accused of planning SA coup

Gigaba has shown South Africa will stick to fiscal discipline and consolidation – Cabinet

By: African News Agency      28th April 2017 South African Finance Minister Malusi Gigaba’s interaction with investors and the global finance community has shown that government would stick to the course of fiscal discipline and consolidation charted by his predecessor, Cabinet said on Friday. “These engagements underscored that... 

Gigaba has shown South Africa will stick to fiscal discipline and consolidation – Cabinet
Photo by Bloomberg
Finance Minister Malusi Gigaba

Zimbabwe says has met all conditions to clear arrears to World Bank, AfDB

By: Reuters     28th April 2017 Zimbabwe has met all conditions to clear arrears to the World Bank and African Development Bank, paving the way for possible future funding from the International Monetary Fund, its finance minister said on Thursday. The southern African nation in October last year cleared its 15-year-old... 

Zimbabwe says has met all conditions to clear arrears to World Bank, AfDB
Photo by Reuters
Zimbabwe Finance Minister Patrick Chinamasa

Gordhan praises Ramaphosa, backs State capture inquiry

By: News24Wire      28th April 2017 Former Finance Minister Pravin Gordhan on Thursday told CNN that a judicial commission of inquiry into allegations of state capture would “clear the air”. Deputy President Cyril Ramaphosa recently called for the same thing, supporting a recommendation by former public protector Thuli Madonsela... 

Gordhan praises Ramaphosa, backs State capture inquiry
Photo by Reuters
Former Finance Minister Pravin Gordhan

Alleged ‘coup plotter’ set to make first appearance 

By: News24Wire      28th April 2017 A man who allegedly plotted to assassinate officials perceived as State capture beneficiaries is set to make his first appearance in the Johannesburg Magistrate’s Court on Friday. The man, 23, was arrested in Midrand on Wednesday and charged with conspiracy to commit murder and other charges. 

Alleged ‘coup plotter’ set to make first appearance

Digital platform opens up ‘new collar’ work vista for millions of Africans

By: Schalk Burger     28th April 2017 Digital devices and systems are crucial components of almost all professions and are changing industries and economies worldwide. Familiarity and competence with these technologies are usually the result of education and access to the technologies. Technology multinational IBM’s Digital-Nation... 

Digital platform opens up ‘new collar’ work vista for millions of Africans

Expo to showcase latest developments in machine tools industry

By: Simone Liedtke     28th April 2017 This year’s Machine Tools Africa (MTA) is set to showcase the latest technology developments, machinery, products, services and solutions, says event management company Specialised Exhibitions Montgomery portfolio director Charlene Hefer. 

Expo to showcase latest developments in machine tools industry
MACHINE TOOLS AFRICA 2017 Interactive displays at the MTA will include live demonstrations and technical presentations

Robotic solution for machine tools industry

     28th April 2017 When it comes to the automated feeding of machine tools, the choice of the right robot set-up and manipulator is a key element in the planning process, says Japanese robotics company Yaskawa. 

Robotic solution for  machine tools industry
CONTROL CONCEPT Finding the right software structure is just as important as the hardware

Post Office to become fully-fledged bank – CEO 

By: African News Agency      26th April 2017 Plans are under way to remodel the South African Post Office (SAPO) into a fully-fledged bank, CE Mark Barnes said on Wednesday. “Let me tell you about where you are and what the future is. We believe that the Post Office will prove to be a critical element in financial inclusion, for a number of... 

Post Office to become fully-fledged bank – CEO

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline

By: Terence Creamer     26th April 2017 Black-empowered energy company African Energy Partners (AEP), which plans to list as a special purpose acquisition company on the JSE’s AltX board on June 1, to raise up to R500-million to pursue liquefied natural gas (LNG) prospects in Africa, reports that its investment pipeline includes a... 

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline
AEP CEO Edwin Kikonyogo

South Africa launches public debate on possible wealth tax 

By: Reuters     26th April 2017 A committee set up to review South Africa's tax system on Tuesday launched a public debate on one of the most controversial possible moves on its agenda – a wealth tax. The Davis Tax Committee (DTC) announced it was inviting submissions from South Africans on whether the government should... 

DA launches court bid to force Zuma to reveal reasons for Cabinet reshuffle

By: African News Agency      25th April 2017 The Democratic Alliance on Tuesday filed an urgent application with the Pretoria High Court to compel President Jacob Zuma to reveal his reasons for last month’s sweeping Cabinet reshuffle. The head of the party’s federal executive, James Selfe, said the application went hand in hand with the... 

Zuma again stresses drive for ‘radical economic transformation’ at launch of Free State SEZ

By: Anine Kilian     25th April 2017 The 103 ha Maluti-A-Phofung Special Economic Zone (MAP-SEZ) in Harrismith, in the Free State, forms an important part of government’s SEZ Programme, which is aimed at ensuring excluded areas of the country are developed and able to contribute to the country’s economic growth. Speaking at the... 

Zuma again stresses drive for ‘radical economic transformation’ at launch of Free State SEZ
Photo by Duane Daws
President Jacob Zuma and Trade and Industry Minister Dr Rob Davies

Reserve Bank’s leading business cycle indicator up 1.1% in February

By: African News Agency      25th April 2017 The South African Reserve Bank said on Tuesday its composite leading business cycle indicator increased by 1.1% on a month-to-month basis in February 2017. “Six of the ten component time series that were available for February 2017 increased, while four decreased,” the bank said. 

Ekurhuleni sets aside R12bn to assist youth owned businesses and SMMEs

By: African News Agency      25th April 2017 The Mayor of Ekurhuleni Mzwandile Masina on Tuesday said the city has set aside R12-billion to ensure youth owned businesses and small, medium-sized and microenterprises (SMMEs) to reposition themselves as capable and preferred service providers to government. “The money will be ring-fenced to... 

Africa urged to transform dependence on commodities

By: African News Agency      25th April 2017 Even as the world emerges from the worst of the global commodity price meltdown, African countries were urged on Tuesday to make the most of the next upward cycle to diversify and industrialise away from over-reliance on exports of raw materials. In a statement, Dr Martyn Davies, Deloitte... 

ANC to introduce amended land claims bill in May

By: Reuters     25th April 2017 The African National Congress (ANC) will introduce an amended land rights bill in parliament in May after the top court declared invalid a law that re-opened a process for blacks to make claims on land taken from them during white-minority rule. The Restitution of Land Rights Bill, allowing state... 

ANC to introduce amended land claims bill in May

LPG industry urged to act on non-binding market inquiry findings 

By: Terence Creamer     24th April 2017 South Africa’s Competition Commission has made far-reaching, yet non-binding, recommendations for dealing with prevailing “market distortions” in the domestic liquid petroleum gas (LPG) sector following its first-ever market inquiry, which took nearly three years to complete. The report... 

LPG industry urged to act on non-binding market inquiry findings
Photo by Duane Daws
Commissioner Tembinkosi Bonakele and Minister Ebrahim Patel

Global steel production reaches 410Mt in Q1

By: Megan van Wyngaardt     24th April 2017 South Africa produced an estimated 1.56-million tonnes of steel in the first quarter of the year, the World Steel Association (worldsteel) said on Monday. This was roughly the same as the 1.54-million tonnes  produced in the first quarter of 2016 and came on the back of flat year-on-year... 

CIG uncertain about local outlook, but sees growth potential in Africa

By: Megan van Wyngaardt     24th April 2017 Pan-African infrastructure group Consolidated Infrastructure Group (CIG) on Monday posted revenue growth of 29% to R2.7-billion for the six months to February 28, owing to its strategy to expand across Africa’s energy markets. The company further reported a 20% year-on-year increase in its... 

AfDB welcomes Zambia, Ghana to bond index

By: Megan van Wyngaardt     24th April 2017 The African Development Bank (AfDB) has added Zambia and Ghana to its African Bond Index (ABI), expanding the index to the eight most liquid sovereign bond markets in Africa. The ABI provides investors with a tool with which to measure and track the performance of Africa’s bond markets. 

Acquisitions add value to Rebosis’s interim results

By: Megan van Wyngaardt     24th April 2017 Despite the tough domestic economic environment, JSE-listed property company Rebosis declared a dividend of 60.80c apiece for the six months to February 28. This amounted to a 7.1% year-on-year growth, within the company’s 7% to 9% guidance for the full year. 

Outa welcomes Brown’s decision to refuse Molefe’s R30m pension payout 

By: Megan van Wyngaardt     24th April 2017 The Organisation Undoing Tax Abuse (Outa) on Monday welcomed Public Enterprises Minister Lynne Brown’s decision to decline State-owned electricity provider Eskom’s proposal to pay its former CEO Brian Molefe a R30-million pension payout, noting that it was setting a precedent by placing an end to... 

Outa welcomes Brown’s decision to refuse Molefe’s R30m pension payout
Photo by Duane Daws
Brian Molefe

DMR to brief Western Cape communities on shale gas development

By: Megan van Wyngaardt     21st April 2017 Mineral Resources Deputy Minister Godfrey Oliphant will on Tuesday host an information-sharing session with interested and affected communities and organisations in the Western Cape on the potential of shale gas development through hydraulic fracturing, or fracking. The Deputy Minister will... 

AfriForum seeks access to work permits of Cuban engineers employed by DWS

By: Megan van Wyngaardt     21st April 2017 Civil rights organisation AfriForum has brought an application in terms of the Promotion of Access to Information Act against the Department of Water and Sanitation (DWS), seeking access to the work permits of 31 Cuban engineers employed by the DWS. AfriForum reports that Water and Sanitation... 

Eskom confirms it wants exemption from ‘areas’ of national procurement regulations for nuclear

By: Megan van Wyngaardt     21st April 2017 State-owned power Eskom on Friday confirmed in a statement that it had raised concerns with National Treasury about “areas” of the current procurement regulations, specifically mentioning waivers of certain evaluation criteria that would be required to facilitate the “proposed nuclear new build... 

Eskom confirms it wants exemption from ‘areas’ of national procurement regulations for nuclear

Trump administration, world financial officials clash over trade

By: Reuters     21st April 2017 The Trump administration had a simple but stark message for world financial leaders who gathered in Washington on Thursday amid worries about rising US protectionism: fair trade means tit-for-tat tariffs. Speaking to bankers just hours after the formal start of the International Monetary Fund and... 

South Africa punching below its weight despite available opportunities – Frost & Sullivan

By: Megan van Wyngaardt     20th April 2017 Despite the political turmoil and fiscal downgrades facing the country, South Africa’s economy is set to grow by 0.8% this year, research firm Frost & Sullivan said on Thursday. In a webinar on its Global Economic Outlook 2017, Frost & Sullivan senior economist Craig Parker noted that economic... 

Political decisions, downgrades push policy uncertainty into negative territory 

By: Anine Kilian     20th April 2017 The North-West University (NWU) School of Business and Governance’s Policy Uncertainty Index (PUI) increased to 51 in the first quarter of this year, putting it in negative territory. The PUI was at 38.8 in the fourth quarter of 2016. An increase to above 50 reflects heightened policy... 

Political decisions, downgrades push policy uncertainty into negative territory
Professor Raymond Parsons speaks to Engineering News Online about the reasons for the PUI spike in the first quarter of 2017

South Africa accounts for 59% of outbound M&A activity in sub-Saharan Africa

By: Megan van Wyngaardt     20th April 2017 The value of announced merger and acquisition (M&A) transactions, with any sub-Saharan African involvement, reached $10.1-billion during the first quarter of 2017, the highest opening quarter total in six years, research firm Thomson Reuters Africa has found. In its sub-Saharan African deals... 

Land Bank sets aside R1bn to support black farming investments in 2017  

By: Terence Creamer     20th April 2017 South Africa’s Land Bank has set a target of disbursing “at least” R1-billion in 2017/18 to support investments by black entrepreneurs in the agricultural sector and to begin transforming a loan book that is still overwhelmingly composed of funding to established commercial farmers. Should the... 

Land Bank sets aside R1bn to support black farming investments in 2017
Land Bank CEO TP Nchocho on plans to increase the pace and scale of support for black farmers. Camera Work: Nicholas Boyd. Editing: Lionel da Silva. Recorded: 20.04.2014

Mastercard tests new biometric cards in South Africa

By: Megan van Wyngaardt     20th April 2017 South Africa is the first market to test payment technology provider Mastercard’s next-generation biometric card, which combines chip technology with fingerprints to conveniently and safely store a cardholder’s identity for in-store purchases. Two separate trials with retailer Pick ‘n Pay and... 

New study ranks South Africa fourth most attractive investment destination in Africa

By: African News Agency      20th April 2017 South Africa has been ranked as the fourth most attractive economy for investments flowing into Africa. This is according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab published on Wednesday. 

'We will not allow institutions of our State to be captured' – Ramaphosa 

By: News24Wire      20th April 2017 Do not allow revolutionary sounding slogans to hoodwink the public, Deputy President Cyril Ramaphosa said. Speaking at a Black Business Council event in Sandton, Johannesburg on Wednesday evening, Ramaphosa said some were attempting to appropriate the democratic movement, along with its history,... 

'We will not allow institutions of our State to be captured' – Ramaphosa
Deputy President Cyril Ramaphosa
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