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Topic - Finance
Jul 03, 2015
Pan-African multinational energy corporation Oando has appointed Dr Tanimu Yakubu Muhammad to its board, effective immediately, following the resignation of nonexecutive director Nana Appiah-Korang. Appiah-Korang tendered her resignation owing to increasing demands...
Jul 03, 2015
TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate...
Jul 01, 2015
Port of Cape Town
Transnet National Ports Authority (TNPA) has selected the V&A Waterfront as the preferred bidder for the development of a cruise terminal at the Port of Cape Town. The V&A Waterfront would invest about R179-million to finance, design and develop the terminal, which...
Jul 01, 2015
Finance Minister Nhlanhla Nene
The South African government confirmed on Wednesday that it had sold its 13.91% stake in telecoms group Vodacom to help finance a R23-billion capital injection into embattled State-owned electricity utility Eskom. The shares were sold to the Public Investment...
Jun 26, 2015
The reality is that South Africa as a country, and southern Africa as a region, has massive infrastructure backlog that public budgets just cannot address from a financial perspective, particularly if these requirements are planned and funded in a similar fashion to...
Jun 25, 2015
Tsholofelo Molefe
Shedding yet another member of its executive management team, energy utility Eskom said on Thursday that it and FD Tsholofelo Molefe had “mutually agreed to part ways on an amicable basis”. “Both parties believe that the agreement to separate is in the best interest...
Jun 24, 2015
South Africa is a developing economy that is still in the process of industrialising.This stage is characterised by the need to develop both its upstream and downstream industries using the wealth from its resource base. In South Africa’s case, as is the case in many...
Jun 23, 2015
The South African Branch of the German based manufacturer of high-quality industrial diesel engines has moved to a new facility. The relocation underlines the commitment to the Southern African market, offers an improved customer service and emphasises the premium...
Jun 22, 2015
Jun 19, 2015
Jun 18, 2015
Jun 16, 2015
Jun 10, 2015
DTC chairperson Dennis Davis
The current tax system could assist in lessening the inequality gap in South Africa, but was not the solution to the country’s challenges, said Judge Dennis Davis, head of the Davis Tax Committee (DTC), on Wednesday. “Tax is not the panacea for all ills in society....
Jun 09, 2015
Tanzania-focused mineral exploration company Kibo Mining can now “significantly increase” the pace at which feasibility work at its $760-million Mbeya coal-to-power-project (MCPP) can be concluded, after construction and engineering company Chinese Shandong Electric...
Jun 08, 2015
The South African Revenue Service (Sars) is taking its former spokesperson to court for alleged defamation, Netwerk24. This is the latest in an ongoing drama since Adrian Lackay submitted a letter titled "Sars: This is the inside story" to two parliamentary...
Jun 05, 2015
Despite high economic growth, competitiveness in Africa is stagnating, and even falling in some economies, the African Competitiveness Report has warned. The report, released at the World Economic Forum on Africa, in Cape Town, cautioned that prospects for long-term...
Jun 05, 2015
South Africa slipped one position, from 52 to 53, in the latest world competitiveness ranking, which highlighted power and infrastructure shortfalls, high youth unemployment, as well as inadequate education and technical skills availability as key challenges to the...
Jun 04, 2015
Technology services provider EOH is acquiring between 49% and 80% of Pan-African information technology (IT) applications and business solutions provider Twenty Third Century Systems (TTCS) and its subsidiaries, for an undisclosed amount. “TTCS will significantly...
Jun 02, 2015
WNA director-general Agneta Rising
In the next two decades nuclear energy’s share of the world’s power generation mix is projected to increase by several percentage points from 11% currently, as countries strive to meet growing demand by deploying technologies that do not exacerbate global warming....
Jun 02, 2015
Comair CEO Erik Venter
Comair’s failed High Court application against South African Airways (SAA) receiving constant government bailouts needed parliamentary attention, according to CEO Erik Venter on Tuesday. North Gauteng High Court Judge Hans Fabricius said in his judgment on Monday...
May 28, 2015
Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium’s business rescue practitioners (BRPs) have appointed nonexecutive director Andrew Phillip Maralack acting CFO of the company, with immediate effect. Maralack was a qualified...
May 28, 2015
The Construction Industry Development Board (CIDB) would, within the next six weeks, form a task team to develop frameworks for encouraging local construction companies to enter Africa’s developing markets and to seek further growth through the possible establishment...
May 27, 2015
IMD World Competitiveness Center director Arturo Bris
South Africa slipped one position, from 52 to 53, in the latest world competitiveness ranking, which highlighted power and infrastructure shortfalls, high youth unemployment, as well as inadequate education and technical skills availability as key challenges to the...
May 26, 2015
May 26, 2015
South Africa’s gross domestic product (GDP) growth has slowed from 4.1% in the last quarter of 2014 to 1.3% in the first quarter of this year, weighed down by a contracting manufacturing sector, Statistics South Africa (StatsSA) revealed in its quarterly GDP update...
May 15, 2015
The value added to the economy by the manufacturing sector has declined from 15.3% of gross domestic product (GDP) in 2004 to 13.9% in 2014, signalling the continued evolution towards a service sector-led South African economy, the National Advisory Council on...
May 15, 2015
May 15, 2015
By Mark Eardley In business-to-business (B2B) markets, the buying decisions that create sales – what to buy, who from, and at what price – are typically influenced by many different people. Understanding who influences these decisions is the cornerstone of a...
May 15, 2015
REINVENTING THE MODEL Staff in capital build services should cover specialisation in industrial relations, procurement, information technology systems and finance for projects
State-owned power utility Eskom has to implement changes in several key areas to ensure efficient electricity generation and operational management, combined with cost improvements, says management consulting technology services and outsourcing company Accenture...
May 14, 2015
Great concern was expressed in Parliament over millions of households which could be without services due to a decision by Treasury to freeze funds to municipalities which owe money to Eskom. This national grant to municipalities funds - among others - basic...
May 13, 2015
The high maize stock levels from last season will cushion the economic impact of this year’s drought in the Free State and North West, but farmers in drought-stricken areas must make new plans for next season, advises Standard Bank Primary Agriculture senior manager...
May 13, 2015
Tshwane mayor Kgosientsho Ramokgopa “lied” about terminating the electricity smart meter contract on Tuesday‚ the Democratic Alliance (DA) said on Wednesday. Instead‚ the party said‚ an agreement had been reached between the contractor and the council in March.
May 08, 2015
The decision to grant SA Airways an extension of a government guarantee was supported by the Constitution, the High Court in Pretoria heard on Thursday. Jeremy Gauntlett, for the minsters of finance and public enterprises, told the court that the decision to extend...
May 01, 2015
Mott MacDonald has been appointed lender’s technical adviser by the SEDA special-purpose vehicle for the development of the desalination plant.
May 01, 2015
SKILLS TRANSFER Africa’s power and utility sector is highly reliant on government
The 2015 African Utility Week and Clean Power Africa conference and exhibition will see the start of a three-day specialised course, the Power & Utlilities Management School, for power and utility personnel at all levels of management who want to develop a broad...
May 01, 2015
President and CEO of GE Transportation. GE Transportation is a technology leader and supplier to the rail, marine, mining stationary power and drilling industries
Apr 23, 2015
To support issuing banks in Africa in expanding their trade finance operations, the African Development Bank (AfDB) has entered into a $40-million risk participation agreement (RPA) with Spanish banking group Banco Santander. The facility would tackle critical market...
Apr 23, 2015
Parliament's intelligence committee is dealing with a letter sent by former South African Revenue Service spokesperson Adrian Lackay, relating to the crisis facing the organisation. Lackay electronically sent a 29-page letter to the joint standing committee on...
Apr 20, 2015
Ministers from governments across Africa have renewed their call for a strong, new universal climate-change agreement and increased flows of funds, including through market and finance opportunities, sufficient to fulfil Africa’s development aspirations, at the...
Apr 15, 2015
Cape Town utility event to gather more than 5000 power professionals Africa’s leading utility, energy and water professionals and projects are to be honoured again at the annual African Utility Week and Clean Power Africa that is taking place in Cape Town from 12-14...
Apr 07, 2015
Nedbank’s Capital division and the International Finance Corporation (IFC) have launched a $50-million working capital finance and warehouse scheme to help commodity traders and processors in sub-Saharan Africa (SSA) import agricultural commodities and export cash...
Apr 01, 2015
“To provide our delegates with a complete overview of the sector” “Success and sustainability within the power sector will demand a different way of thinking and strategic planning. It will also demand a different skills set from us. We need to empower ourselves and...
Mar 31, 2015
ASX-listed junior Magnis Resources has inked a binding term sheet with offtake partner China National Nonmetallic Minerals Industrial Limited Corporation (Sinoma) for $150-million in funding to advance the Nachu graphite project, in Tanzania. The funding would cover...
Mar 30, 2015
Banking group Nedbank Capital’s commodity finance division has announced the appointment of Anne-Marie Woolley as the new energy and metals unit head, which forms part of its global commodity finance division. London-based Woolley, who was formerly Standard Bank’s...
Mar 30, 2015
Deputy Minister in the Presidency Buti Manamela
A National Consultative Conference to discuss the draft National Youth Policy 2015-2020 (NYP2020) got under way in Johannesburg on Sunday. The two day conference is being attended by young people from around the country and nationally organised youth structures. lts...
Mar 25, 2015
Eskom chairperson Zola Tsotsi
Eskom board chairperson Zola Tsotsi has not been removed, the power utility said on Wednesday. Eskom media desk was responding to questions on a report that the four executives, suspended earlier this month, were not suspended because they initiated an audit of the...
Mar 24, 2015
The National Energy Regulator of South Africa (Nersa) should decline any more tariff increases for Eskom in 2015, the Democratic Alliance (DA) said on Monday. Nersa confirmed Eskom was formalising an application to reopen the multi-year price determination, allowing...
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