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South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints, political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu said... 

Africa’s brightest youth brainstorm solutions to socioeconomic challenges 

By: David Oliveira     22nd July 2016 One hundred of Africa’s most innovative youth gathered at the Brightest Young Minds (BYM) 2016 summit, held in Johannesburg last month, to discuss and find innovative solutions for Africa’s socioeconomic challenges. “BYM is a nonprofit public-benefit organisation aimed at providing a platform for... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu has... 

Illicit flows could have funded Africa’s development

By: Natasha Odendaal     21st July 2016 Africa would not have needed any financial assistance if illicit financial flows had remained on the continent, economic research firm Trade and Industrial Policy Strategies, or Tips, executive director Saul Levin said on Thursday. Africa had lost about $854-billion to illicit financial flows... 

Brazil state could ban dam design used at Samarco mine

By: Reuters     21st July 2016 A Brazilian state law to ban upstream tailings dams, the design used at a dam that collapsed at the Samarco iron ore mine in November, could be approved this year, an environmental official for the state of Minas Gerais told Reuters on Wednesday. Anderson Silva de Aguilar, the subsecretary for... 

Budding app economy to provide broad benefits for commerce and society

By: Schalk Burger     15th July 2016 The application (app) economy in South Africa can provide the benefits of mobility for many aspects of civil service and commerce, as well as support business growth and broader access to government resources. However, the immaturity of the local app economy, compared with those in developed... 

Budding app economy to provide broad benefits for commerce and society

By: Schalk Burger     15th July 2016 The application (app) economy in South Africa can provide the benefits of mobility for many aspects of civil service and commerce, as well as support business growth and broader access to government resources. However, the immaturity of the local app economy, compared with those in developed... 

Gordhan warns of ‘tougher’ Budget calls to sustain fiscal credibility

By: Terence Creamer     12th July 2016 For the sake of “credibility” and to sustain credit rating “breathing space” South Africa could not deviate from its fiscal-consolidation path, Finance Minister Pravin Gordhan stressed on Tuesday, while warning of even “tougher” Budgetary decisions in light of the country’s weak economic and... 

South African property market grows to R5.8tn

By: Anine Kilian     12th July 2016 The South African property sector is worth an estimated R5.8-trillion, the Property Sector Charter Council has revealed. A study, compiled by provider of investment decision support tools firm MSCI on behalf of the council, provided a snapshot of the sector using figures from 2014/15.   This... 

Q1 GDP data 'low point', deputy SARB governor says

By: Reuters     8th July 2016 South Africa's report on its first-quarter gross domestic product, which showed Africa's most industrialised economy contracted by 1.2%, represents the "low point" and "a slow upward trend is expected going forward," a deputy South African Reserve Bank (SARB) governor said on Thursday. Daniel... 

Good-quality waste necessary for increased mechanical recycling

By: Simon Sonnekus     8th July 2016 The South African plastic industry requires a constant stream of clean, high-quality plastic waste to maintain and increase the level of mechanical recycling in South Africa. While there has been concern over the past few years that the amount of waste exported is increasing, findings from the... 

South Africa should retain, expand and add new exporters to boost economic growth

By: Mia Breytenbach     8th July 2016 If South Africa retains 50% of its exporters in one year, the country, whose projected growth for 2016 is forecast at about 0.7%, can grow the economy by an additional half a per cent, says independent economist Dr André Gouws. Speaking at the international export/import multi-sector business and... 

Russia ready to open Alrosa's books for share placement – sources

By: Reuters     6th July 2016 Russia plans to open State-controlled diamond producer Alrosa's books later on Wednesday for a share placement in Moscow as part of the government's privatisation programme, two financial sources and a source familiar with the process said. The Russian government has previously said it aims to... 

South Africa needs a re-engineered approach to growth – Fuzile

By: Natasha Odendaal     5th July 2016 Adjusting South Africa’s monetary policy would not be enough to dig the nation out of its economic slump, and the country’s economy would need to be re-engineered, said National Treasury director-general Lungisa Fuzile on Tuesday. Speaking at the Economic Outlook Updates and Mid-Year Review, at... 

Rio Tinto chief shelves giant Guinea iron-ore project – newspaper

By: Reuters     5th July 2016 Rio Tinto has shelved its $20-billion Simandou iron-ore project in Guinea because of a sustained slump in prices, the company's new CE Jean-Sebastien Jacques said in an interview with The Times newspaper. Rio Tinto declined to comment on the article. 

Australian miners to lead global mining technology boom – report

By: Anine Kilian     4th July 2016 Australian miners will be the frontrunners in the global race for using cutting-edge mining technology to save costs, enhance efficiency and increase mine safety according to research released by market research firm BMI on Monday. Sixty per cent of mining software used globally was produced in... 

Botswana markets itself as an attractive business destination

By: Dylan Slater     1st July 2016 Several key factors make doing business in Botswana attractive, according to Botswana high commissioner Zenene Sinombe, who posed several key sentiments of business opportunities during the launch of inter-country relations promotion platform the Africa Matchmaking in May.  

Makhura eyes Gauteng as heart of South Africa’s industrial revival

By: Natasha Odendaal     30th June 2016 Gauteng, and more specifically the City of Ekurhuleni, should be used as a base for South Africa’s reindustrialisation programmes and drive the unfolding fourth industrial revolution, Premier David Makhura has said. Ekurhuleni, South Africa’s oldest industrialised region, remained the... 

Transnet pares back capex as commodity slump impacts demand 

By: Terence Creamer     27th June 2016 State-owned freight logistics group Transnet has pared back its 2016/17 capital expenditure (capex) plan in line with its strategy of “validating” demand ahead of moving ahead with major investments. The rail, ports and pipelines utility expects to invest around R22.8-billion during the 2017... 

Panama opens canal extension amid growth risks, cost battle

By: Reuters     27th June 2016 Panama opened the long-delayed $5.4-billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping industry and a heated battle over billions in cost overruns. At 07:50 (12:50 GMT), the Chinese container ship "Cosco Shipping Panama"... 

PanAust lodges special mining lease application for Frieda River

By: Mariaan Webb     24th June 2016 China-owned PanAust has applied for a special mining lease for the Frieda River copper/gold project, in Papua New Guinea. MD Dr Fred Hess said on Friday that the lodgement of the application represented a crucial milestone in PanAust’s pursuit of organic growth. 

Danish valves producer boosts local production with new factory

By: Simon Sonnekus     24th June 2016 Danish valves producer AVK Valves, which acquired local valves company Premier Valves in 2014, is nearing completion of a brand new valve manufacturing facility located in Alrode in Gauteng. The R100-million investment includes a 1 200 m2 training facility, 4 500 m2 office area and 2 000 m2... 

South Africa’s R&D spend falls short of Brics counterparts

By: Mia Breytenbach     24th June 2016 South Africa spends a relatively low proportion of its gross domestic product (GDP) on research and development (R&D), the National Advisory Council on Innovation (Naci) revealed in its yearly South African Science, Technology and Innovation (STI) Indicators report. “South Africa’s general... 

Transport demand underestimated

By: Victor Moolman     24th June 2016 The number of passengers that could use rail transport has been grossly underestimated, says WSP Parsons|Brinckerhoff Africa (WSP) Transportation and Infrastructure divisional director Vishaal Lutchman. 

We all stand together

By: Riaan de Lange     24th June 2016 "Win or lose, sink or swim; One thing is certain – we'll never give in; Side by side, hand in hand; We all stand together." The above are the opening lyrics of Beatle Paul McCarthy’s 1983 song, aptly titled We All Stand Together. Even though it was considered a "relative success" it has been... 

Commercial property adds R50bn to Gauteng GDP

By: News24Wire      23rd June 2016 It is important to remember that the commercial property sector contributes about R50bn to the gross domestic product (GDP) of Gauteng, Kobus van der Vyver, property development manager at Urban-Econ Development Economists said on Wednesday. The commercial property sector employs almost 350 000... 

Report highlights need for spatial transformation in South African cities

By: Anine Kilian     22nd June 2016 Deputy Cooperative Governance and Traditional Affairs Minister Andries Nel has stressed that cities must use public resources in the most effective, transparent and accountable manner. Speaking at the launch of the State of South African Cities Report 2016, on Wednesday, he pointed out that local... 

Denham, GreenWish ink renewable-energy partnership

By: Creamer Media Reporter      22nd June 2016 Global energy-focused private equity firm Denham Capital and renewable-energy investment company GreenWish Partners have entered into a strategic partnership to develop, build and finance a 600 MW renewable-energy portfolio across sub-Saharan Africa by 2020. The partnership would unlock the... 

Agricultural technologies to drive growth and development, survey finds

By: Schalk Burger     17th June 2016 The increasing use of agricultural technologies in Africa, as reported in a survey of 25 large agricultural companies, can dramatically improve yields, food security and product quality, as well as provide raw materials for new products in new markets, says PwC Africa Agribusiness industry leader... 

Peruvian mining volumes continue to grow as new president takes helm

By: Simon Rees     15th June 2016 The Peruvian mining industry is expected to spur renewed growth in the country as output grows, prices stabilise and revive, several speakers told a recent Peruvian-Canadian Chamber of Commerce economic outlook seminar. The recent Peruvian election was so close that the winner Pedro Pablo... 

Diamonds are Putin’s best bet to entice wary investors to Russia

By: Bloomberg     15th June 2016 President Vladimir Putin is trying to woo foreign investors into the battered Russian economy by offering a chunk of the world’s biggest miner of diamonds. Russia needs cash to help fill a hole in its budget, the result of a collapse in revenue from plunging oil prices 

Australia halfway down mining investment ‘cliff’ – NAB

By: Mariaan Webb     10th June 2016 Australia’s mining investment, which peaked in 2012/13, is forecast to fall further over the next three years and employment will follow suit, as the industry is only halfway down the so-called mining investment cliff, analysis by economists from the National Australia Bank (NAB) has shown. As... 

Free State poised to be helium pioneer as gas developments unfold

By: Mia Breytenbach     10th June 2016 The discovery and proposed exploitation of a natural gas dome containing methane and some of the highest concentrations of helium in the world – South Africa’s first onshore gas find – in the Free State has created much excitement and visions of a local gas hub. “The Free State now has the... 

Free State poised to be helium pioneer as gas developments unfold 

By: Mia Breytenbach     10th June 2016 The discovery and proposed exploitation of a natural gas dome containing methane and some of the highest concentrations of helium in the world – South Africa’s first onshore gas find – in the Free State has created much excitement and visions of a local gas hub. “The Free State now has the... 

DTI to support agroprocessing infrastructure development

By: Anine Kilian     9th June 2016 To stimulate the growth of the agroprocessing sector, the Department of Trade and Industry (DTI) is focusing on the development and revitalisation of South Africa’s agroprocessing infrastructure. As part of its Critical Agroprocessing Infrastructure Support Programme, the department was engaging... 

NDP important to tackle unemployment, poverty – Ramaphosa 

By: Anine Kilian     8th June 2016 The Gauteng provincial government has seen that inclusive growth can only be realised if there is a partnership and collaboration between government, labour and business, Deputy President Cyril Ramaphosa said on Wednesday. He added that collaboration between all stakeholders had put the province... 

South Africa must reignite economic activity – Gordhan  

By: Anine Kilian     8th June 2016 South Africa needs to re-engineer its economy and focus on its institutions and other strengths, Finance Minister Pravin Gordhan said at the Gauteng Economic Indaba, in Johannesburg, on Tuesday. Reflecting on the state of South Africa’s economy, which contracted by 1.2% in the first quarter of... 

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