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Big power users call for inflation-linked tariff ‘compact’ and industry review 

By: Terence Creamer     1st November 2018 The Energy Intensive Users Group (EIUG) has called for an electricity price compact that sustains tariff increases as close to consumer price inflation as possible for the coming five years. The proposal is made in a precursor to the EIUG’s official response to Eskom’s latest revenue application,... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

Namibia scraps black ownership rules for mining exploration licences

By: Reuters     26th October 2018 Namibia has scrapped a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians, the country's mining industry group said on Friday. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians... 

SEZ to boost stainless steel industry

By: Thabi Madiba     26th October 2018 The Limpopo-based export-oriented mega mineral energy complex, in a special economic zone (SEZ), in which Chinese State-owned companies are set to invest, is “the biggest thing on the horizon” in the local stainless steel industry, says Southern Africa Stainless Steel Development Association... 

Infrastructure at heart of reprioritised, stimulus-aligned expenditure plan 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has confirmed that expenditure worth R32.4-billion will be reprioritised over the coming three years in line with government’s recently released Economic Stimulus and Recovery Plan. The figure appeared to fall short of the R50-billion reprioritisation target outlined... 

Move to tackle VAT refund backlog lops billions off revenue forecast 

By: Marleny Arnoldi     24th October 2018 The National Treasury has lowered its revenue collection forecast for 2018/19 by R27.4-billion, largely as a result of belated moves by South African Revenue Service (Sars) to address a major backlog value-added tax (VAT) refunds. The issue of delayed repayments has been a major bone of... 

Buying only SA-made vehicles could boost GDP by R37bn, says Wits study  

By: Irma Venter     23rd October 2018 New research by the University of the Witwatersrand (Wits) shows that a government policy of buying only locally produced cars, bakkies, buses and trucks at national and provincial government level could, through various multiplier effects, increase South Africa’s gross domestic product (GDP) by... 

Global trade and development trends impact on South Africa, present opportunities

By: Tasneem Bulbulia     22nd October 2018 The recently released United Nations Conference on Trade and Development (Unctad) Trade and Development Report for 2018, entitled ‘Power, Platforms and the Free Trade Delusion’, outlines a number of lessons that South African can learn, and also presents opportunities for the country to... 

Positives of migration

By: Martin Zhuwakinyu     19th October 2018 Television footage of desperate Africans drowning in the Mediterranean Sea en route to Spain and other European destinations that hold out the promise of a better life has become all too frequent. The International Organisation for Migration puts the cumulative toll since 2000 at 33 000, with... 

Getting Africa fit for the future requires good governance – Africa Forum

By: Marleny Arnoldi     18th October 2018 Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is a combination of optimism and scepticism, but stressed that the available opportunities were enormous. “Currency, corruption and certainty need... 

GE calls for more coal power within the IRP 

By: Kim Cloete     17th October 2018 General Electric (GE) has called on the South African government to reconsider investing in a further 1 600 MW of coal-fired power generation capacity, describing it as "the lifeblood" of South Africa’s economy, a significant job creator and important source of foreign exchange. “The removal of 1... 

Greek PM-wannabe says unblocking Skouries a priority

By: Bloomberg     17th October 2018 Kyriakos Mitsotakis says he’s a man with a mission. The leader of New Democracy, currently Greece’s main opposition party – who will become Prime Minister if his party wins general elections next year – says what the country needs more than anything else is investment. With that in mind, he says... 

Entries for inaugural Factory of the Year competition to close on Oct 31 

By: Tasneem Bulbulia     15th October 2018 A.T. Kearney has extended the entry deadline for the inaugural South African Factory of the Year competition to October 31. The event is aimed at boosting competitiveness in the country’s ailing manufacturing sector. 

Wits Business School Addresses the Energy Sector Skills Shortage

By: Creamer Media Reporter      15th October 2018 The energy landscape in Africa is changing dramatically.  Opportunities abound for investments, partnerships and other initiatives in the sector, particularly in oil and gas and renewable energy. The World Bank's Africa Energy project portfolio currently carries 48 projects totalling US$3... 

Seifsa elects ‘most transformed’ board to date

By: Simone Liedtke     15th October 2018 Arabela Holdings executive chairperson Elias Monage has been elected president of the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and chairperson of its board of directors, with effect from October 12. Monage was elected president during Seifsa’s seventy-sixth annual... 

On-The-Air (12/10/2018) 

By: Martin Creamer     12th October 2018 The Mining Indaba this week pledged to give South Africa more access than ever to global investors who will be attending the upcoming international event. The government was this week urged to go all out to pull the struggling South African mining industry out of its unnecessary slump. South... 

Political, economic uncertainty and perception of corruption cloud sentiment on SA – PwC

By: African News Agency      11th October 2018 Recent political and economic uncertainty, including the perception of corruption, have clouded investor sentiment in South Africa, auditing firm PricewaterhouseCoopers (PwC) said on Thursday. A PwC report said trade openness and the efficiency of government regulation were among the most... 

South Africa gets $35bn in investment pledges towards $100bn goal

By: Reuters     11th October 2018 South Africa has investment commitments of $35-billion as part of plans by President Cyril Ramaphosa to attract $100-billion over the next five years to revive the country's flagging economy, his economic adviser told Reuters on Wednesday. Ramaphosa has appointed a team of investment envoys -... 

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

DRC, Tanzania resource nationalist measures more extreme – Leon 

By: Martin Creamer     10th October 2018 The resource nationalist measures being implemented in the Democratic Republic of Congo (DRC) and Tanzania are significantly more extreme than those being adopted and even considered in most other African countries. One likely reason for this is that the DRC and Tanzania both suffer from... 

Mali approves Randgold’s Morila mine to agribusiness conversion

By: Marleny Arnoldi     8th October 2018 Gold miner Randgold Resources’ Morila gold mine’s ambitious agribusiness project has been approved by the Malian government. The project is designed to replace mining with a sustainable economic activity in the local community after the operation’s closure in two years’ time. 

SA to offer Swahili as a school subject

By: Martin Zhuwakinyu     5th October 2018 Readers of this column who are not news junkies like yours truly may have missed the announcement, made last month: South African schools, both public and private, will be offering Swahili as an optional language from 2020, alongside such foreign languages as French, German and Mandarin, which... 

Mining remains key driver in low to middle income countries – ICMM

4th October 2018 Despite falling commodity prices, many of the world’s poorest countries have become more dependent on their income from mining, new research published by the International Council on Mining and Metals (ICMM) has found. The ICMM on Thursday released the fourth edition of its Mining Contribution... 

World Bank lowers 2018 growth forecast for South Africa 

By: Terence Creamer     3rd October 2018 The World Bank has lowered its 2018 gross domestic product (GDP) growth forecast for South Africa to 1%, from an April projection of 1.4%, and says the country’s growth will remain subdued in 2019. The bank also lowered its 2019 projection for South Africa to 1.3%, from 1.8% in April, and... 

Mantashe calls for marketing of platinum

By: Martin Creamer     3rd October 2018 A platinum Mandela coin should be minted and marketed and platinum-catalysed fuel cells used to power off-grid areas, Mineral Resources Minister Gwede Mantashe said on Wednesday. In his opening speech to the well-attended Joburg Indaba, Mantashe, who is seven months into the job, said he had... 

Zambia hikes mining taxes in 2019 budget to rein in debt

By: Reuters     28th September 2018 Zambia will introduce new mining duties and increase royalties to help bring down mounting debt and narrow its fiscal deficit, Finance Minister Margaret Mwanakatwe said on Friday. Presenting a 86.8-billion kwacha ($7.10-billion) budget, Mwanakatwe said Zambia planned to trim its fiscal deficit to... 

Record-high margins for aluminium sales

By: Erin Steenhoff-Snethlage     28th September 2018 Johannesburg-based precision water-cutting and -profiling company AquaJet Profiles noted record-high aluminium sales profit margins earlier this year, owing to the sanctions placed on Russian suppliers exporting to the US, claims AquaJet Profiles director Preeshan Naidoo. The sanctions were... 

New visa laws don’t go far enough - BARSA

26th September 2018 The Board of Airline Representatives of South Africa (BARSA) has noted the details provided by the Minister of Home Affairs, Mr. Malusi Gigaba, regarding the relaxation of visa requirements to the country, which forms part of the economic stimulus and recovery plan announced by President Cyril... 

Initiative seeks to further local procurement in franchising

By: Tasneem Bulbulia     21st September 2018 The Franchise Association of South Africa (Fasa) has partnered with Proudly SA to increase the local procurement of goods and services within the franchising sector by facilitating collaboration between suppliers, franchisors and franchisees. This joint enterprise development initiative was... 

Franchising sector records positive growth

By: Tasneem Bulbulia     21st September 2018 Franchising continues to show growth and resilience despite challenging socioeconomic and political challenges in the country. The industry has an estimated turnover of R721-billion in the last financial year, the Franchise Association of South Africa (Fasa) reported on Friday. 

Technically, stuck in a recession

By: Riaan de Lange     21st September 2018 “Is you is or is you ain't?”, to partially borrow from the title of American blues musician BB King’s song. Is South Africa in a recession or ain’t it? It is a simple enough question that should solicit a 'yes' or 'no' answer, ain’t? Surely, if one knows what a recession is, then one should know... 

A ‘sovereign innovation fund’ proposed in draft technology policy

By: Rebecca Campbell     21st September 2018 The Department of Science and Technology (DST) has, in its recently released draft White Paper on Science, Technology and Innovation (STI), stated that a “sovereign innovation fund” is to be created. “There is a need for increased commercialisation funding,” said section 6.2 of the draft White... 

Interest rates likely to stay unchanged as economy struggles

By: African News Agency      20th September 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday despite inflationary pressures stemming largely from a weaker rand, hamstrung mostly by concerns over the ailing economy. The economy slipped into a recession after gross domestic product contracted by 0.7 percent... 

Poor internal coordination in SA cities adding to cost of doing business

By: Terence Creamer     19th September 2018 A new World Bank report highlights how a lack of internal coordination between departments within several of South Africa’s largest cities is undermining the delivery of services to businesses operating within those locations and burdening entrepreneurs with timing consuming and costly red tape.... 

Top trends that are likely to change the way we work and live

By: Kim Cloete     14th September 2018 Quantum computing and flying cars are two of the top trends that Frost & Sullivan has outlined within its top trends for 2018/19 at its CEO Think Tank in Cape Town.  The company has looked at trends that are changing the way we work and live. 

July manufacturing output up 2.9%

By: Reuters     11th September 2018 South Africa's industrial output expanded in July as food and motor vehicle output rose, easing pressure on an economy that recently slipped into recession and is struggling for investment amidst policy uncertainty and possible credit downgrades. The statistics agency in Africa's most... 

South Africa to set up a 'sovereign innovation fund'

By: Rebecca Campbell     11th September 2018 The Department of Science and Technology (DST), in its recently released draft White Paper on Science, Technology and Innovation (STI), stated that a “sovereign innovation fund” is to be created. “There is a need for increased commercialisation funding,” said section 6.2 of the draft White Paper.... 

Local manufacturing expo to bolster exports, economy

By: Tasneem Bulbulia     10th September 2018 The South African Capital Equipment Export Council (SACEEC) will host its inaugural Local Manufacturing Expo next year, to showcase local manufacturing capabilities and bolster the country’s economic growth, SACEEC CEO Eric Bruggeman told attendees at a presentation during Electra Mining, on... 

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