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May 05, 2016
Former Denel CEO Riaz Salojee
Updated 2 hours 41 minutes ago Denel’s board said Finance Minister Pravin Gordhan’s accusation that the board and executives are “arrogant and belligerent … are unsubstantiated, baseless and unfounded”. Gordhan made the accusation during his Treasury budget debate in Parliament on Wednesday. This...
May 04, 2016
Finance Minister Pravin Gordhan on Wednesday termed Denel, which is at loggerheads with National Treasury over a joint venture with a company linked to the Gupta family, arrogant and belligerent. “One of the tendencies that we are noting in recent times is that when...
May 04, 2016
National Treasury was close to naming a new board for the struggling national carrier South African Airways, Deputy Finance Minister Mcebisi Jonas said on Wednesday. “We are finalising the process of appointing a full-strength board,” Jonas said in the debate on the...
May 04, 2016
South Africa's Finance Minister Pravin Gordhan said on Wednesday he favoured a minority equity partner buying into struggling national airline South African Airways (SAA) at "some stage". SAA, which has been placed under National Treasury oversight, has already had...
May 04, 2016
Deputy Finance Minister Mcebisi Jonas
South Africa's Public Investment Corporation (PIC) would invest R70-billion ($5-billion) over the next three to five years to help stimulate economic growth and job creation, Deputy Finance Minister Mcebisi Jonas said on Wednesday. The PIC, which manages South...
May 04, 2016
Finance Minister Pravin Gordhan
South Africa's Finance Minister Pravin Gordhan said on Wednesday he was confident of meeting fiscal targets for 2016, but that stronger economic growth remained a challenge. In a speech to parliament, Gordhan said the budget deficit would be reduced to 2.4% of gross...
May 04, 2016
Pravin Gordhan
The way the government buys its goods and services is getting a shake-up aimed at saving billions, Finance Minister Pravin Gordhan said on Wednesday. This includes saving a targeted R1.4-billion by reviewing the government's top 100 contracts, saving a possible...
May 04, 2016
The Australian resources sector has welcomed the federal government’s 2016/17 Budget, which saw Treasurer Scott Morrison assigning A$100-million to Geoscience Australia to boost the productivity and competitiveness of the minerals sector. Resources and Energy...
May 04, 2016
May 04, 2016
May 04, 2016
May 03, 2016
 
 
 
May 02, 2016
The group of lenders to West Africa-focused project developer Aureus Mining has agreed to extend the first debt repayment of $3.1-million, due under a senior facility, for another month. The payment was initially due on January 31, but was deferred to April 4, April...
Apr 29, 2016
South Africa's rand extended its gains against dollar on Friday to hit a five-month high after a court ruled that a 2009 decision to drop 783 corruption charges against President Jacob Zuma was irrational and should be reviewed. The rand hit a high of 14.1650 per...
Apr 29, 2016
Atul Gupta
Cabinet expects to get a report on the ANC’s internal investigation into allegations that the Gupta family are influencing government decisions within a fortnight, Minister in the Presidency Jeff Radebe said on Friday. “There is a process taking place from the ANC’s...
Apr 29, 2016
Cabinet has extended the contract of director general of finance Lungisa Fuzile for another five years, Minister in the Presidency Jeff Radebe said on Friday. The renewal of Fuzile’s contract was reported to hang in the balance after President Jacob Zuma reshuffled...
Apr 29, 2016
One of the key messages to emerge ahead of the review of South Africa’s sovereign credit rating is that the country needs to outline the practical actions it will take to reignite growth, which has more or less petered out in recent years, with few expecting the...
Apr 29, 2016
OLKARIA GEO THERMAL The largest geothermal power plant in the world is located in Kenya, Africa
Economic growth in Africa is expected to average over 4% in the next five years, according to accountancy and finance body the Institute of Chartered Accountants in England and Wales (ICAEW).
Apr 29, 2016
One of the key messages to emerge ahead of the review of South Africa’s sovereign credit rating is that the country needs to outline the practical actions it will take to reignite growth, which has more or less petered out in recent years, with few expecting the...
Apr 29, 2016
Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and...
Apr 29, 2016
The project involves the construction of 15 000 residential units, an intermodal transport hub, a government precinct and a 30 000 m2 regional mall.
Apr 29, 2016
The success of the Department of Energy’s (DoE) Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) is a shining example of South Africa’s ability to undertake large infrastructure programmes to boost the local economy, despite the current...
 
 
Apr 29, 2016
SKA South Africa (SKA SA), the local organisation responsible for the country's involvement in, and contributions to, the international Square Kilometre Array (SKA) radio telescope, has been authorised by the Ministers of Finance and Science and Technology to start...
Apr 28, 2016
In an attempt to maintain a pro-poor stance on public spending aimed at improving social development, the City of Ekurhuleni will inject R3.5-billion of its 2016 budget for into its community empowerment package, Mintirho Ya Vula Vula. Tabling the budget vote for the...
Apr 28, 2016
Nigeria's Dangote Sugar Refinery plans to raise 100-billion naira ($503-million) through a mix of debt and equity by the third quarter, its chief finance officer Babatunde Ajao said on Wednesday. The company, owned by Africa's richest man Aliko Dangote, and supplies...
Apr 27, 2016
India has launched country-wide investigations into coal importers over-invoicing and resorting to illegal cross-border funds transfers, which have been estimated at around $5.3-billion. Senior government officials said that over-invoicing of coal imports and...
Apr 26, 2016
CEOs and business leaders working with government to foster inclusive growth have made significant progress in identifying new areas for investment and job creation, including the design of a funding instrument for investing in high-growth small and medium-sized...
Apr 26, 2016
Lithium developer Altura Mining has inked its first binding offtake agreement over the Pilgangoora lithium project, with China’s Lionenergy. The offtake agreement followed an earlier letter of intent under which the Chinese firm agreed to buy between 100 000 t/y and...
Apr 26, 2016
Denel Asia's problems mounted on Monday after it emerged that it had not applied for a permit to the National Conventional Arms Control Committee (NCACC), Minister in the Presidency Jeff Radebe said "The NCACC would appreciate any evidence or information relating to...
Apr 26, 2016
Hundreds of workers from Gupta family-owned Oakbay Investments will on Tuesday march to the banks in an effort to save their jobs. The operations of Oakbay were thrown into jeaopardy after South Africa’s four main banks closed accounts of businesses owned by the...
Apr 25, 2016
Home Affairs DG Mkuseli Apleni
Both the Home Affairs department and visa application service company VFS have denied any links to President Jacob Zuma's son Duduzane and Rajesh Gupta following claims made by the Democratic Alliance last week. The department's director general Mkuseli Apleni told...
Apr 25, 2016
The Paks nuclear power plant (NPP), in Hungary, will feature the most advanced nuclear technology in the world by 2027, when its second phase (Paks II) is launched. Paks II would incorporate generation 3+ technology, Hungarian government commissioner for Paks II...
 
 
Apr 25, 2016
There is nothing wrong in working with any registered, legally trading business in South Africa, whether it's with the Guptas or others, the Denel board of directors said on Saturday. This follows allegations that the board “brought the Gupta family into Denel”. City...
Apr 25, 2016
There are ways SA could avoid a ratings downgrade to junk status and turn the tide on the decline, according to Lesiba Mothata, chief economist at Investment Solutions. He pointed out that about $1.1-trillion left emerging markets (EMs) between the fourth quarter of...
Apr 22, 2016
Apr 22, 2016
Mcebisi Jonas
Deputy Finance Minister Mcebisi Jonas has warned of the nefarious impact patronage networks could have on the South African state in an article penned for the weekly South African Communist Party newsletter Umsebenzi. Jonas begins the article by stating debates on...
Apr 22, 2016
Agriculture Minister Senzeni Zokwana
South Africa's agriculture minister on Friday warned businesses suspected of profiteering from a drought by raising the prices of staples such as bread would face the wrath of competition authorities. The worst drought in a century has seen food prices soar,...
Apr 22, 2016
SARB governor Daniel Mminele
South Africa's central bank is worried that a sharp weakening of bonds and pending ratings decisions could badly affect investor sentiment towards the country while increasing the cost of funding government debt. South African Reserve Bank's Deputy Governor Daniel...
Apr 22, 2016
Royal Dutch Shell is working on selling out of its onshore assets in Gabon, according to two sources familiar with the matter, seeking to refocus its African presence. Bids are due in June for the fields, which one source estimated could be worth around $700-million....
Apr 22, 2016
INVESTMENT NEED Mozambique is in the process of revitalising its economy, focusing on priority areas, such as agriculture, energy and infrastructure
The African Development Bank Group (AfDB) has affirmed its commitment to continue supporting the growing Mozambique economy, particularly regarding the country’s energy, agriculture and infrastructure sectors. Leading a team of senior staff to Maputo earlier this...
Apr 22, 2016
The South African government’s bold bid to procure energy from gas could position the country as an African gas leader. The Department of Energy (DoE) says development of South Africa’s gas industry could be anchored on the demand from its imminent gas-to-power...
Apr 22, 2016
Mozambique’s Tax Authority has confirmed that it is holding negotiations with Vale Mozambique, the local subsidiary of major Brazilian mining group Vale, on the payment of capital gains tax. Vale Mozambique is one of a number of major companies with whom the Tax...
 
 
Apr 22, 2016
The project involves the development, design, financing, construction, operation and maintenance of five wind projects.
Apr 22, 2016
Financial lending to the public sector, namely municipalities, for investment in infrastructure projects requires lenders to investigate and determine the future bankability of such projects and calculate risk in terms of municipalities being able to repay the loans.
Apr 22, 2016
Japan International Cooperation Agency has signed a loan agreement for the construction of Olkaria V geothermal power plant.
Apr 22, 2016
South African defence company Rheinmetall Denel Munition (RDM) has helped set up a munitions manufacturing plant in Saudi Arabia in a venture with that country’s Military Industries Corporation (MIC), the Saudi Press Agency has reported. According to MIC head...
Apr 22, 2016
The Ministers of Finance and Science and Technology have given their approval for the Square Kilometre Array (SKA) Organisation to start buying land for the core site of SKA Phase 1.
 
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