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Mnangagwa's task to rebuild Zimbabwe economy

By: Bloomberg     Updated 7 hours ago When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s President on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right. Among Mnangagwa’s key challenges will be to revive an... 

Mali says gold mining revenues increased 14% in 2016

By: Reuters     22nd November 2017 Gold mining revenues in Mali increased by 14% in 2016 to 280-billion CFA francs ($505-million), Mines Minister Tiemoko Sangare said on Tuesday, revising an earlier estimate. Earnings in 2015 amounted to 245-billion CFA francs. 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

By: Henry Lazenby     21st November 2017 Oil and gas pipelines operator TransCanada is reviewing a decision by the Nebraska Public Service Commission (PSC) approving an alternative route for the proposed Keystone XL (KXL) pipeline project through the state. "As a result of today's decision, we will conduct a careful review of the PSC’s... 

Tongaat Hulett Developments sets out to attract more investment to south coast

By: Megan van Wyngaardt     21st November 2017 Chris du Toit has been appointed commercial head at Tongaat Hulett Developments, effective November 1. He aims to attract more companies to the City of Durban, which currently contributes 14% to the country’s gross domestic product. 

The 2023 Rugby World Cup mistake

By: Riaan de Lange     17th November 2017 The 2023 Rugby World Cup Mistake “Impi! wo 'nans' impi iyeza, Obani bengathinta amabhubesi?” The opening lyrics of Johnny Clegg and Juluka’s ‘Impi’ resonates with me, as do the images of the Springboks storming past Zulu warriors, in traditional dress, with fireworks exploding all around them as... 

Few cities have experience to deliver smart city systems

By: Schalk Burger     14th November 2017 Transforming the world by 2030 to meet the United Nations Sustainable Development Goals will require the establishment of more smart cities, information and communication technology multinational Huawei industry, marketing and solution department CTO Joe So told delegates at the Smart City World... 

No free higher education, cost-sharing more feasible – Heher Report

By: African News Agency      13th November 2017 As expected, a report of the commission which looked into the feasibility of making higher education free in South Africa, released by President Jacob Zuma on Monday, found that government alone would not be able to foot the sizeable bill for such a reality. The report by the commission, chaired... 

Auto aftermarket franchises earn R32bn in turnover, create 5 573 new jobs

By: Irma Venter     10th November 2017 The number of franchised systems (or business networks) within the automotive aftermarket has grown from 60 in 2012, to 79 in 2017, shows the 2017 Franchise Factor report. Thirty of the 79 systems tallied this year are new franchised systems. The automotive franchise aftermarket has also seen the... 

South Africa mulls welfare cuts to fund free higher education – report

By: Reuters     10th November 2017 South Africa's government is considering a range of budget cuts that could include slashing social grants for the most vulnerable in order to pay for free tertiary education, a newspaper reported on Friday. South Africa's rand weakened on Thursday after comments by President Jacob Zuma raised... 

Trans Mountain pipeline expansion project, Canada

By: Sheila Barradas     10th November 2017 The provincial coalition government of British Columbia has again outlined plans to stop the project. 

In the country where coal is king, a battle with the EU looms

By: Bloomberg     6th November 2017 The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market. Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8... 

British Columbia govt digs in against Canadian oil

By: Henry Lazenby     3rd November 2017 The British Columbia provincial government has reiterated its opposition against the flow of oil over its soil. While proponents for Kinder Morgan's Trans Mountain Expansion project have argued that the expansion of Canada's ability to reach new markets in Asia needs to be designated as a... 

Political environment stifling investment, radical economic growth needed – Phosa

By: Anine Kilian     2nd November 2017 South Africa’s current unstable political environment has a massive influence on the economy, African National Congress presidential candidate Mathews Phosa said on Thursday. Speaking at the SBi Small and Medium-sized Enterprise (SME) Indaba, in Johannesburg, he stated that the country’s... 

IHS Markit's materials price index rises 1.6% as commodities lead the way

By: Henry Lazenby     27th October 2017 The materials price index (MPI) from Global Insight by IHS Markit gained 1.6% last week, its strongest increase since late August, breaking a two-week streak of losses, the research firm revealed on Friday. According to IHS Markit economist Cole Hassay, the expansion was broad-based, with seven... 

Global aviation industry faces Renaissance, creating openings for South Africa

By: Keith Campbell     27th October 2017 The global aviation industry continues to be a rapidly growing sector, far from reaching maturity. This was stressed at the recent International Forum for Aviation Research (IFAR) open session at the Council for Scientific and Industrial Research (CSIR) in Pretoria by US National Aeronautics and... 

South Africa's budget woes raise stakes for Nov 24 rating reviews

By: Reuters     27th October 2017 South Africa's dire budget forecasts have raised the stakes ahead of S&P Global's and Moody's Nov. 24 credit rating reviews of the junk grade-threatened country. Both firms have reviews on the same day. If either cut their 'local debt' ratings, the government's $125-billion stock of... 

The Fourth Industrial Revolution is upon us and South African industry must adapt

By: Keith Campbell     27th October 2017 The Fourth Industrial Revolution, or Industry 4.0, is now under way. And there is no way that South African industry can avoid or escape it. Industry 4.0 embraces mobile connectivity, artificial intelligence, Big Data, the Internet of Things (IoT), next-generation robotics, additive manufacturing... 

The Fourth Industrial Revolution is upon us and SA industry must adapt

By: Keith Campbell     27th October 2017 The Fourth Industrial Revolution, or Industry 4.0, is now underway. And there is no way that South African industry can avoid or escape it. Industry 4.0 embraces mobile connectivity, artificial intelligence, “big data”, the Internet of Things (IoT), next-generation robotics, additive... 

Chad hires Rothschild to advise on $1bn Glencore debt – sources

By: Reuters     26th October 2017 Chad has hired Rothschild & Co to advise it on restructuring its external debt, namely a more than $1-billion loan from oil trader Glencore, four sources familiar with the matter said. The International Monetary Fund has said the debt held by Chad, one of the world's poorest nations that relies... 

Gigaba says difficult to predict rating agencies' reaction to budget 

By: Reuters     26th October 2017 South African Finance Minister Malusi Gigaba said on Thursday it was difficult to predict how rating agencies would react to his maiden medium-term budget, which flagged weaker growth expectations and rising government debt. After Gigaba outlined government spending plans for the next three years... 

Various State assets being identified for disposal as Gigaba drops deficit and debt bombshells 

By: Terence Creamer     25th October 2017 Finance Minister Malusi Gigaba confirmed the worst in his maiden Medium-Term Budget Policy Statement (MTBPS), revealing serious fiscal slippages amid bail-outs of State-owned companies (SOCs), a worryingly sharp deterioration in revenue collections, a material downward revision to the country’s... 

Relationship between agriculture, climate change should be prioritised

By: Anine Kilian     19th October 2017 A firm decision needs to be made on how to mitigate against the impact of climate change on the agricultural sector, which is facing increased environmental impacts, University of South Africa (Unisa) Exxaro Chair in Business and Climate research assistant Bongani Chavalala said on Wednesday.... 

Economist warns of consequences of low growth, potential tax hikes

By: Ilan Solomons     18th October 2017 It is well known that the South African economy is having serious growth challenges, which is unlikely to improve over the next three years, with best estimates that the country’s gross domestic product (GDP) will grow by just 2% during this period. This is according to financial services company... 

Seifsa president laments slow pace of metals sector transformation

By: Terence Creamer     13th October 2017 The slow pace of transformation in the metals and engineering sector continues to be of concern, Steel and Engineering Industries Federation of Southern Africa (Seifsa) president Michael Pimstein said during his presidential address in Johannesburg on Friday. He urged the sector, which represents... 

Urgent action required to address airline industry skills crisis

By: Anine Kilian     13th October 2017 Southern African airlines will face a potentially crippling shortage of skills, while also failing to hit employee transformation targets, if governments do not fix basic and tertiary education, the Airlines Association of Southern Africa (AASA) has warned. Speaking at the AASA’s forty-seventh... 

South Africa falling down a rabbit hole

By: Riaan de Lange     13th October 2017 The use of graphs to illustrate the South African economy’s trajectory is a superfluous endeavour in the nth degree. The appeal of graphs, your general line graph, is to emphasise the tendency of the measure to ascend. Not to descend. But then South Africa wants to also transcend. To avoid... 

Angola grants gold exploration concession as it seeks to diversify economy

By: Keith Campbell     13th October 2017 A public/private partnership (PPP) has been granted a concession to prospect for gold in the Angolan province of Cabinda, the Macauhub news agency has reported. The PPP is named Mongo Mongo Mineração Limitada (Mongo Mongo Mining Limited). Its shareholders are the State-owned Empresa Nacional de... 

South Africa vulnerable to any sharp rise in global rates, World Bank warns

By: Terence Creamer     11th October 2017 A quicker and sharper-than-expected normalisation in interest rates in the US could trigger a reversal in capital flows to South Africa, the World Bank’s latest ‘Africa’s Pulse’ warns, adding that any sharp increase in global interest rates could also complicate debt dynamics for sub-Saharan... 

Wheatstone marks milestone with first LNG production

By: Esmarie Swanepoel     9th October 2017 The $34-billion Wheatstone liquefied natural gas (LNG) project, in Western Australia, has produced its first product, with first shipments targeted in the coming weeks. "First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people... 

South Africa 'in limbo' regarding the rapidly arriving Fourth Industrial Revolution

By: Keith Campbell     6th October 2017 South Africa is underprepared for the Fourth Industrial Revolution, also known as Industry 4.0. However, it is not badly underprepared. This was reported by AT Kearney Associate Mark Saunders at the Sixth Council for Scientific and Industrial Research Conference, in Pretoria, on Friday. Industry... 

Supply chain management key to industry success

By: Robyn Wilkinson     6th October 2017 The effective management of financial and physical supply chains is a key differentiator for South African automotive companies wanting to survive in an uncertain market, with access to technologies that can assist in streamlining these functions critical to success, says import and working... 

Industry trying to reduce reliance on imports

By: Robyn Wilkinson     6th October 2017 High quality, increased productivity and cost reduction are vital for success as the South African automotive industry works to reduce its reliance on automotive component imports while growing its export potential in a slow economy, says industrial equipment supplier Germ Africa director Robert... 

Dow Packaging homes in on sustainable solutions

By: Anine Kilian     5th October 2017 With continued rapid urbanisation in South Africa putting pressure on the food and beverage industry in terms of food safety, shelf life and adequate supply transportation, packaging manufacturer Dow is focusing on developing innovative and sustainable solutions to mitigate these types of... 

Magnis gathers US funds for downstream development

By: Esmarie Swanepoel     5th October 2017 A global consortium, in which ASX-listed Magnis Resources holds a major stake, has been awarded funding of $13.5-million from the state of New York to develop the region’s first lithium-ion gigafactory. In May, Magnis entered into a joint manufacturing establishment agreement to develop a 15 GWh... 

Decline in insured construction activity to continue – Bryte

By: Mia Breytenbach     3rd October 2017 Insured construction activity contracted by 15% year-on-year in the second quarter. Southern African proactive business risk specialist Bryte Insurance (formerly known as Zurich Insurance) this week released its Construction Activity Monitor for the three months to June 30. 

AHI changes name to SBI

By: Anine Kilian     26th September 2017 Members of the Afrikaanse handelsinstituut (AHI) have adopted a new memorandum of incorporation and a new name, the Small Business Institute (SBI). “We would be proud if, over time, SBI becomes synonymous with credible research and public positions on all matters of interest to small business.... 

WTO raises global merchandise trade growth estimate to 3.6% for 2017

By: Anine Kilian     22nd September 2017 The World Trade Organisation (WTO) has raised its estimate for growth in world merchandise trade volume for this year to 3.6%. The previous estimate for 2017 was 2.4%, although this was set within a range of between 1.8% and 3.6%, reflecting the high level of economic and policy uncertainty.  The... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment 

By: Terence Creamer     20th September 2017 State-owned electricity utility Eskom has sounded that warning that, even if its allowable revenue is not increased at all for the 2018/19 year, tariffs will still need to rise by 9.4% simply to accommodate a “rebasing” electricity sales volumes when compared with those approved in the third... 

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