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Macro and Micro News

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges 

By: Marleny Arnoldi     10th December 2018 Johannesburg Mayor Herman Mashaba on Monday said the mayoral committee has approved another 100 buildings to be released for private sector development, as part of the metro’s inner city development programme. Following this, national government will give its stamp of approval and the... 

Egypt aims to kickstart African trade as it takes AU chair

By: Reuters     10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

South Africa's key economic, political risk events in 2019  

By: Bloomberg     10th December 2018 In 2018, South Africa got a new president, two new finance ministers and slumped into a recession. Next year may be even more bumpy. Here’s a look at the key economic and political risk factors to watch out for in 2019: 

Eskom says no load shedding scheduled for Monday, but risk remains high

By: African News Agency      10th December 2018 Power utility Eskom said on Monday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. The troubled power utility... 

Eskom says no load shedding scheduled for Monday, but risk remains high

National minimum wage of R20 an hour to take effect on Jan 1

By: African News Agency      7th December 2018 The national minimum wage will kick in on January 1, meaning no South African worker will earn less than R20 an hour in the new year, President Cyril Ramaphosa announced on Friday. "We are here to declare that from 1 January 2019 the national minimum wage shall be introduced. No worker in South... 

National minimum wage of R20 an hour to take effect on Jan 1
President Cyril Ramaphosa

Eskom implements Stage 1 load shedding

By: African News Agency      7th December 2018 State power utility Eskom said on Friday it would again effect rotational powercuts to reduce demand and avoid a collapse of the grid, but that this would be on a lower scale than in recent days. "Eskom will be implementing Stage 1 rotational load shedding from 09:00 and this is likely to... 

Eskom implements Stage 1 load shedding

Corruption charges laid against acting Sars boss Mark Kingon

By: News24Wire      7th December 2018 Corruption charges have been filed against acting South African Revenue Service (Sars) commissioner Mark Kingon by an unknown and obscure organisation named the Anti-Poverty Forum (APF). The charge was laid by APF's director Phapano Phasha on Tuesday at the Brooklyn police station. News24 is in... 

Corruption charges laid against acting Sars boss Mark Kingon

China’s BRI translating its influence into trade, development and cultural engagements with global South

By: Schalk Burger     7th December 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... 

Ramaphosa launches Atlantis SEZ 

By: Kim Cloete     6th December 2018 President Cyril Ramaphosa has officially launched the Atlantis Special Economic Zone (SEZ) in the Western Cape, with the goal of making it "a launching pad for economic growth" in the region. “A combined R1.8-billion is expected to be invested in the SEZ by 2022. In the short to medium-term, the... 

Progress made with establishing Nkomazi SEZ

By: Marleny Arnoldi     6th December 2018 Cabinet earlier this week ratified a decision by Trade and Industry Minister Dr Rob Davies to designate the Nkomazi Special Economic Zone (SEZ) and to grant an SEZ licence to the Mpumalanga provincial government’s Department of Economic Development and Tourism. The Nkomazi SEZ will be positioned... 

Sacci BCI increases slightly to 96.1 in November

By: Marleny Arnoldi     6th December 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) for November measured 96.1, which is an increase of 0.3 index points compared with October. “The upward momentum of the BCI since September appears to have flattened and it is the second time this... 

The $3bn map – scientists pool oceans of data to plot Earth's final frontier

By: Reuters     6th December 2018 For experts in the field of ocean mapping it is no small irony that we know more about the surfaces of the Moon and Mars than we do about our planet's sea floor. "Can you imagine operating on the land without a map, or doing anything without a map?" asked Larry Mayer, director of the US-based... 

Nchocho appointed to replace Qhena as head of IDC

By: Marleny Arnoldi     6th December 2018 Cabinet on Wednesday approved the appointment of Tshokolo (TP) Nchocho as Industrial Development Corporation (IDC) CEO on a five-year contract, effective early in 2019. Nchocho has multiple Masters degrees and more than 28 years’ experience in development finance and banking, including 13 years... 

Nchocho appointed to replace Qhena as head of IDC
Newly appointed IDC CEO TP Nchocho

Business confidence edges up slightly as momentum flattens – Sacci

By: African News Agency      6th December 2018 Business conference among South African companies edged up just slightly in November, with the momentum seen since September slowing, a survey showed on Thursday. The South African Chamber of Commerce and Industry's  (Sacci) business confidence index (BCI) for November 2018 measured 96.1, up just... 

Business confidence edges up slightly as momentum flattens – Sacci

Ramaphosa to announce effective date for national minimum wage in Kliptown 

By: African News Agency      6th December 2018 President Cyril Ramaphosa will on Friday proclaim the effective date for the recently approved national minimum wage, his office said. Consensus on the minimum wage was reached by stakeholders under the auspices of the National Economic Development and Labour Council (Nedlac) and has been set at... 

Ramaphosa to announce effective date for national minimum wage in Kliptown
President Cyril Ramaphosa

Agribusiness outlook remains cautious as lack of rainfall issue looms

By: Simone Liedtke     5th December 2018 The agriculture sector’s optimistic outlook at the start of the 2018/19 production season has changed, says Agbiz agribusiness research head Wandile Sihlobo. Despite the season having started with farmers aiming to lift the summer grain and oilseed planting activity by 5% from the previous season... 

Agribusiness outlook remains cautious as lack of rainfall issue looms
Photo by Simone Liedtke
Agbiz agribusiness research head Wandile Sihlobo

Private sector contracts at slower pace in Nov – Standard Bank PMI

By: Reuters     5th December 2018 South African private sector activity shrank again in November, albeit at a slower pace than the previous month, as firms cut inventories to their lowest level in more than four years, a survey showed on Wednesday. The Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 48.2 in... 

Eskom to implement rolling power cuts

By: African News Agency      5th December 2018 State power utility Eskom said on Wednesday it would implement rotational powercuts from 9 am to 10 pm as a result of a shortage of capacity due to a number of generating units still being out of service due to breakdowns. "Our maintenance teams continue to work hard to bring the units back to... 

Eskom to implement rolling power cuts

Mpumalanga remains under strain as water pollution continues

By: Simone Liedtke     4th December 2018 Residents of Mpumalanga remain concerned about sewage spillages and wastewater challenges. The South African Human Rights Commission (SAHRC) has received complaints about alleged sewage spillages and/or the inadequate treatment of wastewater. 

South Africa emerges from recession as farming, manufacturing jump 

By: Reuters     4th December 2018 Farms and factories dragged South Africa out of its first recession in almost a decade, data showed on Tuesday, as the economy grew by more than expected in the third quarter. The positive data is a boost for President Cyril Ramaphosa, who has pledged to re-start growth after a decade of... 

South Africa emerges from recession as farming, manufacturing jump

Two South African entrepreneurs shortlisted for Africa Prize for Engineering Innovation

By: Simone Liedtke     4th December 2018 Pelebox Smart Lockers and the Hybrid Five-Axis Machine Tool are two South African innovations that have been shortlisted for the Royal Academy for Engineering’s (RAE’s) Africa Prize for Engineering Innovation, accelerated by the Cape Innovation and Technology Initiative (CiTi).   

Two South African entrepreneurs shortlisted for Africa Prize for Engineering Innovation
Pelebox Smart Locker system developer Neo Hutiri

Agbiz, IDC Agribusiness Confidence Index falls to lowest level in nearly a decade

By: Simone Liedtke     4th December 2018 While some subindices showed an increase from the third quarter, the Agbiz and Industrial Development Corporation’s Agribusiness Confidence Index weakened to 42 in the last quarter of the year, reflecting despondency in the sector. Subsequent to a decline from 54 to 48 points in the third quarter... 

SA out of recession with 2.2% GDP growth 

By: News24Wire      4th December 2018 The South African economy has officially exited the recession after reporting 2.2% Gross Domestic Product (GDP) growth for the third quarter of the year, Statistics South Africa announced on Tuesday morning at a briefing in Pretoria.  South Africa slipped into a technical recession during the... 

 SA out of recession with 2.2% GDP growth

Eskom implements Stage 2 load shedding

By: African News Agency      4th December 2018 Eskom on Tuesday said it was implementing load shedding across South Africa as it seeks to manage an electricity shortfall. "As a result of a shortage of capacity due to a number of generating units still out of service due to breakdowns, Eskom will be implementing Stage 2 rotational load... 

Eskom implements Stage 2 load shedding

AfDB, fund provide $200m in joint financing to support Nigeria electrification project

By: Simone Liedtke     3rd December 2018 The African Development Bank’s (AfDB’s) board of directors has approved a $150-million sovereign loan to the Nigerian government to finance the Nigeria Electrification Project (NEP). The financing will support rural electrification efforts in Nigeria by facilitating private sector development and... 

African renewables IPP to list on Mauritian Stock Exchange

By: Simone Liedtke     3rd December 2018 Independent power producer (IPP) Africa Clean Energy Solutions (Aces) will list on the Mauritian Stock Exchange on December 14. The company will issue up to 600 000 new shares prior to the initial listing date. 

Absa PMI rises for first time in three months 

By: Marleny Arnoldi     3rd December 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.5 index points in November from 42.4 in October – the first increase after three consecutive decreases. The improvement was mainly owing to four of the five main subcomponents rising.  

Eskom starts stage 2 load shedding

By: News24Wire      3rd December 2018 Eskom on Monday morning commenced with stage 2 load shedding, saying the rotational power cuts would likely continue until 22:00. This after it had on Sunday warned of a full day of load shedding on Monday, saying a number of power generating units were still out of service. 

Eskom starts stage 2 load shedding

Charts show South Africa's recession may be over

By: Bloomberg     3rd December 2018 South Africa is likely to emerge from its first recession in almost a decade as monthly indicators for the third quarter signal a modest rebound. Recoveries in manufacturing and trade are expected to drive growth momentum in Africa’s most industrialised economy. Statistics South Africa will on... 

Mboweni prioritizes regaining South Africa investment grade

By: Bloomberg     3rd December 2018 South Africa’s government is prioritizing regaining an investment grade rating on its debt as part of its plans to revive a stagnant economy, Finance Minister Tito Mboweni said. Moody’s Investors Service is the only one of the three major credit-rating companies that still assesses South Africa’s... 

Mboweni prioritizes regaining South Africa investment grade
Finance Minister Tito Mboweni

Rand firms as US-China trade truce revives risk appetite

By: Reuters     3rd December 2018 South Africa's rand firmed against the dollar in early trade on Monday as investor demand for riskier assets rose after China and the US agreed to a ceasefire in their trade war that has shaken global markets. At 0605 GMT, the rand traded at 13.7600 per dollar, 0.65% firmer than its New York... 

Rand firms as US-China trade truce revives risk appetite

Trade deficit widens to R5.55bn in October

By: Reuters     30th November 2018 South Africa's trade deficit widened to R5.55-billion in October from a revised R3.83-billion deficit in September, official data showed on Friday. Exports rose by 8.5% on a month-on-month basis to R122.32-billion in October, while imports edged 9.7% higher to R127.87-billion, the South African... 

Cape Town households shoulder a bigger share of water restrictions so economy and business can recover

By: News24Wire      30th November 2018 Cape Town households will shoulder a bigger share of the new water restrictions to make more water available for the region’s economic drivers of agriculture, industry and tourism. This reflects a major shift in the way the region’s water is allocated, with agriculture getting a bigger share than... 

Ramaphosa to officiate at Atlantis SEZ opening on December 6

By: Marleny Arnoldi     30th November 2018 President Cyril Ramaphosa will on December 6 officiate the opening of the Atlantis special economic zone (SEZ), in the Western Cape. The launch of the 124.5 ha zone is designated for the establishment of a green technologies hub for the province.  

Regulatory, payment efficiencies needed to support SME jobs

By: Schalk Burger     30th November 2018 The efficiency of securing regulatory compliance and the speed at which small and medium-sized enterprises (SMEs) are paid by private companies and public organisations are some of the biggest concerns for small businesses. Small Business Institute chairperson Bernard Swanepoel highlights  the... 

Interim results confirm the bad state of Eskom’s financial health 

29th November 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s interim financial results and the utility’s plans to turn its financial position around. 

Interim results confirm the bad state of Eskom’s financial health
Interim results confirm the bad state of Eskom’s financial health

Rand likely to remain volatile, says deputy SARB governor 

By: News24Wire      29th November 2018 Exchange rate forecasts for the rand remain widely dispersed, deputy governor of the SA Reserve Bank (SARB) Daniel Mminele said on Wednesday. It is likely that the rand, along with other emerging market (EM) currencies, will remain volatile, he said at the Bloomberg FX'18 event in Johannesburg. 

 Rand likely to remain volatile, says deputy SARB governor
Photo by Bloomberg
SARB deputy governor Daniel Mminele
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