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SA’s component sector should pursue growth strategies, says report

By: Irma Venter     Updated 3 hours ago South Africa’s component industry will be well served by implementing innovative growth strategies in the short to medium term. This emerged as one of the recommendations of the South African Automotive Supplier Performance Report 2017, produced for the National Association of Automotive... 

Proudly SA develops tender monitoring system to track government compliance

By: Megan van Wyngaardt     Updated 6 hours ago Buy local advocacy campaign Proudly South African (SA) has developed an in-house tender tracking system to monitor government’s compliance with its own mandate to make local procurement a priority. The system trawls the websites of all three spheres of government, their agencies and entities,... 

Vukile to actively pursue opportunity in Spain, sees through ‘momentous’ year

By: Mia Breytenbach     24th May 2017 JSE-listed real estate investment trust (Reit) Vukile, which on Wednesday posted a 7.1% year-on-year increase in its dividend to 156.75c a share for the year ended March 31, is actively evaluating opportunities in Spain to diversify its earnings stream and enhance its high-quality portfolio. CEO... 

Tanzanian President fires mining minister and chief of State-run agency

By: Reuters     24th May 2017 Tanzania's president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports. President John Magufuli's decision, announced in a speech, signals an escalation... 

South Africans spoilt for choice when buying new vehicles 

By: Irma Venter     23rd May 2017 South African car buyers had access to 55 passenger car brands in 2016, with 3 458 model derivatives to choose from, says National Association of Automobile Manufacturers of South Africa (Naamsa) executive manager Dr Norman Lamprecht. “This afforded car buyers the widest choice to market-size... 

Entrepreneurs key to unlocking continent’s economy – AfDB report

By: Megan van Wyngaardt     22nd May 2017 With the continent continuing to face sluggish growth, African governments need to integrate entrepreneurship more fully into their industrialisation strategies, the African Development Bank’s (AfDB’s) ‘African Economic Outlook 2017’ suggests. Last year, Africa’s economic growth slowed to 2.2%... 

Australia to benefit from ‘TPP minus one’ free trade deal – MCA

By: Esmarie Swanepoel     22nd May 2017 The Minerals Council of Australia (MCA) has welcomed the revival of the Trans-Pacific Partnership (TPP), saying Australia would stand to gain significant economic benefits from the regional trade agreement. Eleven Asia-Pacific countries, including Australia, over the weekend agreed to revive the... 

Industry leaders warn of loss in investments in renewables sector

By: Johane Turkstra     19th May 2017 Following State-owned power utility Eskom’s decision last year not to sign a number of contracts with independent power producers (IPP) and the delay in doing so since, industry leaders are warning that a loss in investments in the renewables sector could lead to a severe plateau in... 

‘Hard Brexit’ may have negative consequences for South Africa

By: Terence Creamer     18th May 2017 British economist Professor Peter Sinclair warns that a so-called “hard Brexit” could have negative spill over consequences for South Africa, which has strong economic ties not only with the UK, but also several countries in the European Union (EU) that could be negatively affected by such and... 

Gas-to-power essential for South Africa’s future energy mix - Siemens

By: Kim Cloete     18th May 2017 With a fall in gas prices and a stagnant economy, gas-fired power plants may not be as attractive an option as they were a few years ago, but they will still form a vital part of South Africa’s energy mix in future, believes Siemens. Siemens Southern and Eastern Africa CEO Sabine Dall’Omo said... 

Absence of Eskom CEO rattles opening of African Utility Week 

By: Kim Cloete     16th May 2017 Despite great anticipation ahead of his address, reinstated Eskom CEO Brian Molefe did not open the annual African Utility Week, in Cape Town, as planned. The CEO was scheduled to be the keynote speaker at the opening plenary, attended by several thousand energy and water experts, but pulled out... 

Iran's mining projects on hold as investors fear new sanctions

By: Bloomberg     15th May 2017 Iran has put on hold “almost all” of its mining agreements with foreign investors as companies from Europe to Asia fear additional sanctions on the Persian Gulf nation’s economy, according to the deputy minister of Iran’s Ministry of Industries, Mines and Trade. Less than $100-million of projects... 

‘Dynamite’ GDP growth comes in small private-equity investment packages

By: David Oliveira     12th May 2017 According to a report by economic advisory service provider The Economist Corporate Network (ECN) every 0.01% increase in private equity (PE) investment penetration into Africa’s gross domestic product (GDP) would inject an incremental $1.1-billion investment over the next five years, providing a... 

Mining production records highest headline growth in 2 years

By: Anine Kilian     11th May 2017 South African mining production rose 15.5% year-on-year in March, marking the highest headline growth rate in production in two years. “On a seasonally adjusted monthly basis, production rose 3.7%, [the] strongest monthly performance since May last year. In the first three months of this year,... 

Modest rebound in sub-Saharan Africa growth to be boosted by recedence of 2016 growth mitigating factors – IMF

By: Megan van Wyngaardt     9th May 2017 Growth momentum in sub-Saharan Africa remains fragile, the International Monetary Fund (IMF) says, noting that, with policy response being "behind the curve", pressures on sovereigns rising and spillovers to the private sector intensifying, the near-term outlook for growth in the region is likely... 

Company expands in key African markets

By: Robyn Wilkinson     5th May 2017 Despite challenging macroeconomic headwinds causing a slowdown in consumer spending in many African markets in 2016, packaging company Nampak remains confident of the demographic fundamentals underpinning long-term packaging growth on the continent. 

Nigerian statistician-general says economy on way out of recession

By: Bloomberg     5th May 2017 Nigeria’s economy, which contracted in 2016, performed better in the first three months of this year than during the previous three quarters on improved oil production and factory output, according to statistician-general Yemi Kale. “From the numbers we are seeing, certainly things are improving,... 

Report identifies key areas for growth in Africa

By: Robyn Wilkinson     5th May 2017 Well-balanced economies that have shown steady performance over an extended period present key opportunities for growth and development in Africa, while those with high political risk will continue to fail to instill confidence in foreign direct investors, says trade credit insurer Coface. 

World Bank cuts sub-Saharan Africa’s 2017 growth forecast

By: Bloomberg     5th May 2017 The World Bank cut its growth projection for sub-Saharan Africa this year because of weak expansion in the region’s three biggest economies. The area’s gross domestic product will expand 2.6 percent in 2017, the bank said in a copy of its Africa Pulse report. That compares with a January... 

African countries must create conducive environment to attract more infrastructure investment

By: Shirley le Guern     4th May 2017 Development finance institutions, banks and private investors are collectively sitting on trillions of dollars in capital that could be invested into African infrastructure projects if they were offered returns commensurate with the perceived higher risk environment, Africa50 CEO Alain Ebobisse... 

Peru hikes 2017 trade surplus forecast on higher commodity prices

By: Reuters     1st May 2017 Peru's government on Monday sharply raised its trade balance forecast for this year to a surplus of $3.71-billion from a $776-million surplus expected previously, due to higher commodity prices. In an update to its official macroeconomic forecasts, the Economy and Finance ministry confirmed its... 

Business R&D showing signs of recovery

By: Keith Campbell     28th April 2017 The South African Government seeks to increase the country’s investment in research and development (R&D) by 100% from the R29-billion of 2014/2015 to to about R60-billion/year by 2020. In terms of percentage of gross domestic product (GDP), this would involve an increase from 0.77% to 1.5%.... 

Meeting 60% local content goal would transform economy, create 49 000 jobs

By: Irma Venter     28th April 2017 Achieving 60% local content on vehicles assembled in South Africa will make a significant impact on the South African economy, including the creation of 49 000 new jobs and an additional R68-billion in gross domestic product, says Automotive Masterplan lead and B&M Analysts chairperson Dr Justin... 

Acting BC premier proposes retaliatory US thermal coal export ban

By: Henry Lazenby     26th April 2017 The leader of the British Columbia Liberal party Christy Clark has written a letter to Canada’s Prime Minister Justin Trudeau calling for a retaliatory ban on US thermal coal shipments through the province’s ports. Clark, who has been the acting premier of the province since the legislative... 

Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann

By: Bloomberg     23rd April 2017 US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program" and... 

Revised framework for SA auto sector expected by year-end

By: Irma Venter     21st April 2017 The framework for the government support programme to replace the Automotive Production and Development Programme (APDP) is “currently under consideration and should be announced by the end of 2017”, says National Association of Automobile Manufacturers of South Africa director Nico Vermeulen.... 

CMH achieves good results, but worries about political turmoil

By: Megan van Wyngaardt     19th April 2017 Despite a difficult year in the motoring industry, JSE-listed Combined Motor Holdings (CMH) on Wednesday said it still achieved “commendable results”, delivering a 17.8% increase in basic earnings a share, a 14.8% increase in headline earnings a share and a 25.6% improvement in dividends a share... 

Governments worldwide could save $1tr by adopting procurement best practices – McKinsey 

By: Terence Creamer     19th April 2017 Governments worldwide could reduce their current purchasing bill by 15%, or a combined $1-trillion, if they were to adopt best-practice procurement disciplines, a new study by the McKinsey Center for Government (MCG) claims. The study, titled ‘Government Productivity: Unlocking the $3.5-trillion... 

Tourism supports 1 in 10 jobs

By: News24Wire      18th April 2017 Travel and tourism generated 1 in 10 of the world’s jobs in 2016, according to a new report by the World Travel & Tourism Council (WTTC). WTTC’s Economic Impact Report 2017, which is conducted in conjunction with Oxford Economics, researches the economic impact of travel and tourism on a global... 

South African R&D spending on the rise but government aims yet higher

By: Keith Campbell     12th April 2017 The South African government seeks to increase the country’s investment in research and development (R&D) by 100% from the R29-billion of 2014/2015 to about R60-billion a year by 2020. In terms of percentage of gross domestic product (GDP), this would involve an increase from 0.77% to 1.5%. This... 

Fortescue moves on growing markets outside steel giant China

By: Bloomberg     7th April 2017 Fortescue Metals Group is making iron-ore marketing forays to steel-producing nations outside China to tap forecast increases in demand from burgeoning infrastructure projects across the region. The world’s fourth-biggest exporter’s mines in northwestern Australia are well-positioned to take... 

Winning Wabush pits not 'life or death' for Alderon’s Kami iron project – CEO

By: Henry Lazenby     7th April 2017 Securing the closed Wabush mine assets is not a life or death threat to developing Alderon Iron Ore’s flagship Kamistiatusset (Kami) high-grade iron-ore property. Not securing the assets will merely be a setback, chairperson and CEO Mark Morabito has told Mining Weekly Online. In an interview on... 

AfDB lends Tanzania $29.8m for natural gas developments

By: Megan van Wyngaardt     6th April 2017 The African Development Bank (AfDB) has approved a $29.8-million loan to Tanzania to help the country mobilise domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives. The project will help Tanzania “capture the... 

Automotive industry key to future of South Africa’s manufacturing industry – Davies 

By: Shirley le Guern     6th April 2017 Trade and Industry Minister Dr Rob Davies has stressed that South Africa does not have the luxury to stop supporting its automotive sector, as has been the case in Australia, where the industry has come to an end.   “The auto industry is key to the future of manufacturing in this country and... 

Higher local content in SA-made vehicles could create 49 000 jobs, says Barnes 

By: Irma Venter     6th April 2017 Achieving 60% local content on vehicles assembled in South Africa will make a significant impact on the South African economy, including the creation of 49 000 new jobs and an additional R68-billion in gross domestic product, says Automotive Masterplan lead and B&M Analysts chairperson Dr Justin... 

Nestle, small business dept ink supplier development MoU

By: Natasha Odendaal     3rd April 2017 As Proudly South Africa kicks off its yearly Buy Local Summit, held in Sandton from April 3 to 4, the Department of Small Business Development and Nestle have signed a memorandum of understanding (MoU) to cooperate on providing supply chain opportunities for small, medium-sized and... 

Sugar tax threatens sugar industry survival

By: Robyn Wilkinson     31st March 2017 The South African Treasury’s proposal to introduce a tax on sugar-sweetened beverages (SSBs) later this year threatens the sustainability and survival of a sugar industry already under strain, says South African Sugar Association (Sasa) executive director Trix Trikam. 

UK committed to developing R&D and trade with South Africa

By: Keith Campbell     31st March 2017 The British Government has assigned up to £35-million from its Prosperity Fund to South Africa. This money will be disbursed over the remaining period of the current UK Parliament (that is, until 2020). This was pointed out by outgoing British High Commissioner to South Africa, Dame Judith... 

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