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KZN turns sod on R85bn privately owned coal power station

By: African News Agency      Updated 5 hours ago KwaZulu-Natal Premier Willies Mchunu on Tuesday said he was confident that the R85-billion investment to build a smelter park would usher in a new era characterised by employment and prosperity in the province. The CS Smelter Park, an investment made through the Brics countries, is earmarked to... 

GDP contraction a worry for investors

By: African News Agency      Updated 6 hours ago South African investors should be concerned about the stagnant economic growth which also has an adverse impact on business confidence, an economist said on Tuesday. This comes after South Africa’s gross domestic product (GDP) growth rate slowed to 0.2 percent in the third quarter, recording a... 

GDP growth slows to 0.2% in Q3

By: News24Wire      6th December 2016 South Africa’s gross domestic product (GDP) grew at a meagre 0.2% in the third quarter of 2016, Statistics South Africa announced on Tuesday. The growth recorded was significantly lower than the previous quarter’s 3.3% and 0.1 percentage point lower than the 0.3% recorded in the third quarter of... 

Continued investment growth foreseen in Western Cape

By: Simone Liedtke     2nd December 2016 The Western Cape is increasingly being recognised as a feasible alternative gateway into South Africa or Africa, owing to it contributing 14.3% of the country’s gross domestic product, making it the second biggest provincial economy in the country, says engineering and design company WSP |... 

Local procurement accord key to unshackling struggling economy

By: Megan van Wyngaardt     30th November 2016 To enhance local procurement to the benefit of the economy, South African businesses need to start implementing the commitments set out in government’s local procurement accord. Speaking at an economic policy dialogue to discuss the role that big business can play in enhancing local procurement... 

Business confidence drops to 38 in Q4

By: Megan van Wyngaardt     29th November 2016 After improving to 42 index points in the third quarter, the Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) fell by four points to 38 in the fourth quarter. This means that a slightly bigger majority of the 1 600 respondents, surveyed between October... 

Govt, business and labour to up partnership game in 2017 

By: Natasha Odendaal     29th November 2016 The partnership between civil society, labour, business and government that recently averted a near-downgrade of South Africa’s investment rating will “lift its game” next year to ensure that citizens start to experience change, according to Finance Minister Pravin Gordhan. Speaking at a World... 

Latest Aviation Index for South Africa shows sector outperforming rest of economy

By: Keith Campbell     29th November 2016 The South African commercial aviation sector “is alive and well and outperforming most other sectors of the economy by a considerable margin” reported the Commercial Aviation Association of Southern Africa (Caasa) in a statement released on Tuesday. The release marked the publication of the... 

First African Trade Forum to discuss Continental free trade

By: African News Agency      29th November 2016 Aiming at creating a single continental market for goods and services, free movement of business persons and investments and expand intra-African trade among other things, the first ever Africa Trade Week 2016 was held in Addis Ababa on Monday. The Continental Free Trade Area (CFTA) is also... 

South African mine sector on a 'knife edge' due to political strife – Sibanye CEO 

By: Reuters     28th November 2016 South Africa's key mining industry is at risk of collapse owing to political unrest and labour instability which have negatively impacted investment into the country, the chief executive of the nation's biggest gold company said on Monday. Political ructions in Africa's most industrialised... 

Western Cape govt intensifies fight against climate change

By: Megan van Wyngaardt     28th November 2016 The Western Cape provincial government has been accepted to join the Climate Group – States & Regions Alliance, an international group of provincial, State and regional governments that aims to accelerate the global transition to a low-carbon economy. Members share expertise on innovative policy,... 

Wine and Olive Oil Suppliers Expo heads for Cape Town in 2017

By: Creamer Media Reporter      27th November 2016 South Africa is the eighth largest producer of wine in the world with export volumes having doubled in the past ten years. According to a study commissioned by the SA Wine Industry Information & Systems (SAWIS), published in January 2015, of the R36.1 billion gross domestic product (GDP)... 

Signs of hope in South Africa’s struggling agriculture sector  

By: Anine Kilian     25th November 2016 The agriculture sector contributes about 1.6% to South Africa’s gross domestic product (GDP), below the 2.2% contribution that is needed for the sector to remain sustainable, Agricultural Business Chamber (Agbiz) CEO Dr John Purchase said on Friday. Addressing delegates at a conference focused on... 

Manufacturing Circle believes Vaal Triangle should be zoned for special economic development

By: Megan van Wyngaardt     25th November 2016 If government declares the Vaal Triangle a special economic zone, it will not only attract investment back to the area, but also reignite the manufacturing industry, creating jobs and more prosperity. Manufacturing Circle chairperson Andre de Ruyter said on Friday that this could be carried out... 

Trump’s energy job promise to clash with scant supply of labour

By: Bloomberg     23rd November 2016 President-elect Donald Trump promises that his sweeping changes to energy policy will create “many millions” of American jobs. Finding all those workers may be the challenge. World markets are flush with coal and oil, keeping prices subdued and making it difficult for producers to profit from new... 

Saudi Arabia aims to triple mining revenue by 2030 – minister

By: Reuters     23rd November 2016 Saudi Arabia plans to more than triple the contribution of its mining industry to national wealth as measured by gross domestic product by 2030, the energy minister said on Tuesday. The kingdom is finalising a mining strategy aimed at raising annual mining revenues from 64-billion riyals... 

Minimum wage adds stability that local economy needs – Jonas 

By: Megan van Wyngaardt     21st November 2016 The newly proposed national minimum wage of R3 500 will not only establish greater labour stability in South Africa, but it will also evoke positive collaboration between business, labour and government, Deputy Finance Minister Mcebisi Jonas said on Monday. Speaking on the sidelines of a media... 

Agri confidence declines marginally in Q4, but business is still positive

By: Anine Kilian     21st November 2016 While the Agricultural Business Chamber (Agbiz)/IDC Agribusiness Confidence Index declined by five index points in the fourth quarter of this year to 55 index points, any index above 50 still indicates expansion in South African agribusiness, said Agbiz in a statement released Monday. The chamber... 

Survival of steel construction industry top priority

By: Simone Liedtke     18th November 2016 This year, the Southern African Institute of Steel Construction’s (Saisc’s) focus has been on ensuring that steelwork is sourced locally to save the local steel industry. 

JSE Top 40 index indicative of deeper-lying problems

By: Megan van Wyngaardt     17th November 2016 While industrial-listed companies as a proportion of the JSE’s Top 40 Index increased from 31% in the early 2000s to 70% in 2015, the resource-listed companies dropped, from over 50% to just 12% in the same period, though they slowly ticked back up to just over 20% by October. This, noted Bayhill... 

PPC not out of the woods yet, but sees growth potential

By: Megan van Wyngaardt     16th November 2016 JSE-listed PPC has posted flat earnings before interest, taxes, depreciation and amortisation (Ebitda) of R1.14-billion for the six months ended September 30, while its Ebitda margin, at 22.2%, was negatively impacted on by selling price pressures and the timing of administration and other... 

As domestic oil-refinery debate continues, study highlights big jobs contribution

By: Terence Creamer     16th November 2016 The employment and economic spin-offs of South Africa’s domestic oil refining sector have received prominence in a new study, which suggests that the country’s six refineries generate yearly economic activity of more than R200-billion and sustain more than 480 000 jobs. The study, titled ‘The... 

Iron-ore tax to shrink Australia’s economy, cost it thousands of jobs – report

By: Esmarie Swanepoel     14th November 2016 The National Party of Western Australia’s proposed new tax on iron-ore could cost Australia about 13 500 jobs and will shrink the economy by about A$2.9-billion a year. Commissioned by the Minerals Council of Australia (MCA), a research study by Deloitte Access Economic has found that the... 

Japanese app offers coffee as reward for smartphone-free driving

By: Irma Venter     11th November 2016 Three Japanese companies have joined forces to reward drivers for not using their phones while driving, making use of an innovative smartphone app. Auto maker Toyota Motor Corporation, coffee company Komeda, and telecommunications operator KDDI Corporation kicked off the initiative in September,... 

Study forecasts strong growth in demand for lubricants in SA and Nigeria

By: David Oliveira     11th November 2016 According to research from growth consultancy Frost & Sullivan, the volatility of oil prices and the devaluating currencies of (?) Nigeria and South Africa are set to provide a huge boost for the production of automotive lubricants in the two countries. The ‘Analysis of the Automotive Lubricants... 

DMR must be challenged, good governance must be assured

By: Martin Creamer     7th November 2016 Mining has the wealth-generating potential to boost economies, but countries blessed with a mineral endowment must at least do their bit by assuring good governance. Regrettably, against the background of the recently released 'State of Capture' report of former Public Protector Thuli Madonsela,... 

Anton Hanekom

     4th November 2016 This week we feature Anton Hanekom, executive director of Plastics South Africa, an industry body that represents the full value chain in the plastics industry 

Lithuania seeking trade partnership with South Africa

By: Keith Campbell     4th November 2016 The first ever trade mission to South Africa from Lithuania, although small, represented no fewer than six sectors of the latter country’s economy. The just-concluded mission is part of the small European country’s programme of diversifying its trade and investment partners and expanding into the... 

KP looking to add Mozambique as a member

By: Megan van Wyngaardt     3rd November 2016 Kimberley Process (KP) chairperson Ahmed Bin Sulayem, has met with Mozambique President Filipe Nyusi to discuss the country’s compliance with KP requirements, as well as best practices in rough diamond valuation. Mozambique is not currently a member of the KP, but has been an aspiring candidate... 

Gordhan’s ‘measured consolidation’ strategy seeks to nurture growth green shoots

By: Terence Creamer     26th October 2016 Finance Minister Pravin Gordhan unveiled what he described as a “measured consolidation” strategy in his Medium-Term Budget Policy Statement (MTBPS) address to lawmakers on Wednesday, in which he confirmed some fiscal slippage and weaker growth and revenue projections. The plan is premised on a... 

Lithuania seeks to expand business with South Africa through trade mission 

By: Keith Campbell     26th October 2016 The first ever trade mission to South Africa from Lithuania will arrive in the country on November 1. This is part of the European country’s programme of diversifying its trade and investment partners and expanding into the global economy. The trade mission will remain in the country until... 

Botswana’s economic stimulus to prevent financial deficit narrowing rapidly

By: Natasha Odendaal     24th October 2016 The next two years will see a gradual narrowing in Botswana’s financial deficit as mining recovers; however, continued government capital expenditure (capex) requirements will prevent the surplus seen during the commodity boom. Data released by BMI Research shows the Southern African country’s... 

Mining industry must do more for communities – BMF

By: Anine Kilian     24th October 2016 With mining communities not having reaped the expected benefits that mining companies were meant to provide, the industry has become a difficult subject to discuss in South Africa, despite current levels of interest in the subject being unparalleled since South Africa’s transition to... 

Accelerate dips toes into European property market with €82m deal

By: Megan van Wyngaardt     24th October 2016 Accelerate Property Fund will acquire a portfolio of nine well-located retail warehouse properties tenanted by Germany-based do-it-yourself retailer OBI for €82.1-million. The deal for the properties – six in Austria and three in Slovakia – would be carried out in a blended acquisition yield of... 

Top copper miner gets reprieve as Chile signals more funding

By: Bloomberg     21st October 2016 Codelco’s prospect of remaining as the world’s biggest copper miner received a boost on Thursday as Chile signaled it will increase funding for the state company to overhaul aging mines and head off a slump in output. Chile is already investing a lot in Codelco and will have to provide “slightly... 

African value chains key to building economic resilience, Davies avers

By: David Oliveira     21st October 2016 Intercontinental trade in Africa was key to provide impetus for industrialisation and more resilient economic growth, Trade and Industry Minister Dr Rob Davies noted during the the South African Chamber of Commerce and Industry’s (SACCI’s) presidential consultative group meeting in Johannesburg... 

Sacci calls on members to play part in averting ratings downgrade

By: David Oliveira     21st October 2016 South Africa’s current economic growth does not reflect the country’s potential and the South African Chamber of Commerce and Industry’s (Sacci’s) members must help build the economy and steer the country to success, says the chamber’s president Vusi Khumalo. Addressing delegates at the Sacci... 

Transforming to Re-De

By: Riaan de Lange     21st October 2016 “Re-De” pronounced as “ready”. A telephone directory, I have been told, is a book that is bursting with characters but does not offer much in the line of a story. If anything, present-day South Africa is awash with characters, but, given the absence of a lead character, there is not much of a... 

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