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Sarec says Eskom dragging its feet in honouring Zuma’s renewables ‘injunction’

By: Terence Creamer     17th February 2017 The South African Renewable Energy Council (Sarec) claims that Eskom has yet to issue any updated budget quotes for projects that President Jacob Zuma said in his State of the Nation address (Sona) would proceed, following a protracted impasse that arose as a result of the State-owned utility’s... 

Zuma sends Expropriation Bill back to Parliament

By: African News Agency      17th February 2017 President Jacob Zuma has sent the Expropriation Bill back to the National Assembly for review, some 10 months after Members of Parliament approved it, his office said on Friday. Zuma confirmed last week in his state of the nation address that he would send the bill back to Parliament to allow for... 

Foreign policy rows all about the changing balance of power 

By: Aubrey Matshiqi     17th February 2017 The year began with two rows on foreign policy. The first was about a visit to Taiwan by Solly Msimang in his capacity as the executive mayor of Tshwane. The second, which riled the African National Congress (ANC) even more, was about a visit to Israel by Democratic Alliance (DA) leader Mmusi... 

Watching brief

By: Terence Creamer     17th February 2017 The closure and possible liquidation of an Eastern Cape wind-tower manufacturing facility only four years after it opened raises serious questions about whether business can truly rely on government policy as a basis for making investment decisions. Operations at the plant have been suspended... 

ABB hopeful Zuma’s IPP declaration will unlock orders for locally assembled inverter stations

By: Terence Creamer     16th February 2017 The head of ABB South Africa is hopeful that renewable-energy-related orders, which all but dried up in 2016 as a result of Eskom’s refusal to sign new power purchase agreements, will resume in light of President Jacob Zuma’s announcement that the State-owned utility will sign all outstanding... 

KPMG hopeful of bold steps in Budget 2017

By: Natasha Odendaal     15th February 2017 As the 2017 Budget draws near, there is growing anticipation that Finance Minister Pravin Gordhan, who is possibly facing his toughest Budget yet, will take some bold steps to direct the country’s economy along a  sustainable path. Speaking at a pre-Budget roundtable on Tuesday, professional... 

NEF merges with IDC to advance development of black industrialists 

By: Megan van Wyngaardt     15th February 2017 The National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC) in a move designed to better meet the considerable demand for funding by black entrepreneurs. The two entities were identified by government as central in implementing radical... 

South Africa remains on junk ‘knife-edge’ as ANC succession takes centre stage  

By: Terence Creamer     14th February 2017 South Africa will remain on a downgrade “knife-edge” in 2017, Standard Bank chief economist Goolam Ballim warns, despite the bank’s view that the country’s growth will recover to 1.4% from only 0.4% last year. Both Fitch Ratings and S&P Global currently have South African on ‘negative watch’,... 

Revised IRP to go back to Cabinet by early spring – energy department

By: African News Agency      14th February 2017 The Integrated Resource Plan should be finalised by August or September, depending on Cabinet’s reception of the energy blueprint, the director-general of the department of energy said on Tuesday. “It will not be before June this year, but it might be by July, August. But then if Cabinet says go... 

Construction sector ‘pushing boundaries’ of transformation with ‘ground-breaking’ deal 

By: Terence Creamer     13th February 2017 Government and the seven leading construction companies reported further progress on Monday in the implementation of a voluntary agreement that seeks to materially accelerate the racial transformation of the South African industry and raise the combined revenue attributable to black contractors... 

Busa worried about Sona violence, agrees greater economic transformation is needed

By: Megan van Wyngaardt     10th February 2017 The events that unfolded at Thursday’s State of the Nation Address (Sona) by President Jacob Zuma, are of serious concern and undermine the country’s progress in and towards open, transparent and constructive dialogue, Business Unity South Africa (Busa) said on Friday. “Democracy depends on... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’  

By: Terence Creamer     10th February 2017 Steel producer ArcelorMittal South Africa (AMSA) is optimistic that Eskom, with the support of the energy regulatory, could extend pricing incentives to it and other energy-intensive businesses in light of its surplus position and government’s appeal for interventions to reignite growth in the... 

Sona holds merit, but society needs to step up

By: Natasha Odendaal     10th February 2017 President Jacob Zuma’s 2017 State of the Nation Address (Sona), delivered against a chaotic background in which opposition parties were ejected or chose to leave the chamber, failed to impress some experts, and questions are being raised about what will be next on the agenda for South Africa’s... 

Renewables sector welcomes Presidency’s support of renewables

By: Anine Kilian     10th February 2017 The South African Renewable Energy Council (Sarec) has welcomed the Presidency’s clear support for the country’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). During his State of the Nation address on Thursday night, President Jacob Zuma announced that State-owned... 

Renewables a bright spot in an otherwise chaotic Sona 

     10th February 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights of President Jacob Zuma’s State of the Nation address, including the announcement that Eskom will sign outstanding power purchase agreements with renewables IPPs and proposals on radical... 

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

Make economic growth inclusive – Fedusa

By: Anine Kilian     7th February 2017 The Federation of Unions of South Africa (Fedusa) has called on President Jacob Zuma to use his 2017 State of the Nation Address (Sona) on Thursday to underscore the need for stronger collaboration between government, business and labour. The organisation feels that more inclusive economic growth... 

Sona should focus on economic transformation – Basa  

By: Sane Dhlamini     7th February 2017 The Banking Association of South Africa (Basa) has urged President Jacob Zuma to address economic transformation in his State of the Nation Address (Sona) on Thursday. Basa said in a statement that all sectors of society should introspect on their roles in economic transformation. 

Inquiry into Lily mine accident to start within a few days

By: Kim Cloete     6th February 2017 An inquiry into an accident at the Lily gold mine, in Barberton, Mpumalanga, a year ago, will start within the next few days. This follows the wrapping up of an investigation by the Department of Mineral Resources (DMR). The primary objective of the inquiry is to find the container in which three... 

Zuma calls for ‘unity in action’ ahead of Sona 2017 

By: Sane Dhlamini     6th February 2017 President Jacob Zuma will, during a pre-State of the Nation (Sona) Business Investor Luncheon, in Cape Town, on Tuesday, call for “unity in action” to drive South Africa on a sustainable growth path. This will be his second such meeting with business leaders a few days before he delivers the... 

Power narratives

By: Terence Creamer     3rd February 2017 Those who have always been cautious about believing what they read arguably possess a genuine edge in this era of ‘alternative facts’ and ‘post-truth politics’. Our skills of discernment are being stretched to the limit amid a social-media explosion, which is rewriting the rules of engagement.... 

South Africans or self-interest first?

By: Riaan de Lange     3rd February 2017 I woke to bad news recently, being immediately reminded of a television series that has undisputed longevity and is a personification of both innovation and trailblazing. It is the BBC’s 1980s classic, Allo 'Allo! Unless you are of a single-digit age, or a recent arrival to the third rock from... 

Mining remains core to defining South Africa’s economy – Manuel 

By: Martin Creamer     2nd February 2017 For the last 150 years, mining has been the driving force of South African industry and economic development. Even though dislike of mining is expressed in various ways, that does not take away from the manner in which mining has shaped South Africa and influenced the interactions of its people. 

Zuma pushing SA to crisis point – FW de Klerk

By: News24Wire      2nd February 2017 President Jacob Zuma is determined to accelerate South Africa's descent to an economic and racial crisis, FW de Klerk, the country's last apartheid head of state, said on Thursday. “President Zuma is determined to accelerate our descent along the road to state capture, economic crisis and racial... 

Zuma says Cabinet lekgotla ahead of SoNA will focus strongly on economy

By: African News Agency      31st January 2017 The four-day Cabinet Lekgotla which sets the tone for President Jacob Zuma’s State-of-the-Nation (SoNA) will focus strongly on boosting South Africa’s economic growth, a statement from the presidency said on Tuesday. The Lekgotla, which starts on Wednesday, would be attended by Zuma, his deputy,... 

Guptas respond to Gordhan’s affidavit

By: African News Agency      31st January 2017 Finance Minister Pravin Gordhan on Monday, denied the claim by the Gupta family’s Oakbay Investments that he had colluded with banks to harm the company, saying the banks acted because of the company’s ties with “politically exposed” figures. Gordhan, in his replying affidavit to papers submitted... 

Rand weakens 1% on Cabinet reshuffle reports

By: Reuters     30th January 2017 South Africa's rand weakened more than 1% early on Monday in what one trader said was fresh risk aversion amid rumors of a cabinet reshuffle. At 0800, the local unit traded 1.13% weaker at 13.6175 against the dollar. 

Olifants River Water Resources Development Project – Phase 2, South Africa

By: Sheila Barradas     27th January 2017 Phase 2B of project is under review with the Department of Water and Sanitation. 

SA needs a leader who will be able to cure the country’s ills 

By: Aubrey Matshiqi     27th January 2017 The election of the leader of the African National Congress (ANC) is not only about individual interests; that is, it is not only about the interests of the individuals who want to ascend to the throne. I am certain that it is almost always about either the ascendance of those that are outside... 

FICA amendment Bill constitutional – Basa

By: Megan van Wyngaardt     26th January 2017 The Financial Intelligence Centre Act amendment Bill passes constitutional muster, says the Banking Association South Africa (Basa), urging Parliament’s Standing Committee on Finance to refer the Bill back to President Jacob Zuma for signing into law. Basa appeared before the committee, which... 

Zuma's stand on FIC Bill is incorrect – senior counsel

By: News24Wire      25th January 2017 Two independent members of senior counsel told MPs of the Standing Committee on Finance on Wednesday that President Jacob Zuma’s interpretation of the Financial Intelligence Centre (FIC) Bill is not correct. The Financial Intelligence Centre (FIC) Bill will indeed pass constitutional muster, said... 

Business Leadership SA urges Zuma to sign FICA amendment bill now 

By: African News Agency      24th January 2017 On the eve of public hearings on the Financial Intelligence Centre (FIC) Act amendment bill, Business Leadership South Africa (BLSA) urgent President Jacob Zuma to sign it into law urgently, dismissing objections to it as unfounded. “BLSA believes that none of the objections raised are... 

Absa campaign ‘led by Gupta-sponsored groups,’ – EFF

By: African News Agency      23rd January 2017 A campaign to get Barclays-owned Absa to pay back apartheid debt is led by “State Security” and the controversial Gupta family, Economic Freedom Fighters (EFF) leader Julius Malema said on Monday. The EFF has been attacked in recent times for being complacent after announcing that it would occupy... 

Platinum price upturn needed to sustain industry – Lonmin  

By: Martin Creamer     20th January 2017 An upturn in the platinum price is needed for the sustainability of the platinum industry as a whole, Lonmin CEO Ben Magara said on Friday. The head of the large London- and Johannesburg-listed platinum mining company said that although there had been a slight price recovery since November and... 

Businesses to navigate the effects of union instability

By: Robyn Wilkinson     20th January 2017 Given the ongoing unstable political climate, the realignment of trade unions to consolidate numbers or gain increased affiliation is likely to perpetuate interunion rivalry for the foreseeable future, says legal services provider Creighton Attorneys director Barney Creighton. 

Diversity in the township economy

By: Sydney Majoko     20th January 2017 In the week that the country waited with bated breath for the national executive committee of the ruling party to decide the fate of the President Jacob Zuma, the secretary-general of the party, Gwede Mantashe, said at a press conference that among the many issues the NEC had discussed was how... 

Gordhan takes a stand for emerging markets at WEF

By: News24Wire      18th January 2017 Although the US as a super economic powerhouse impacts the rest of the world, emerging markets also matter to the global environment. This was the message from Finance Minister Pravin Gordhan on the global stage at the World Economic Forum (WEF) in Davos on Tuesday.Wearing a black suit, white... 

Investment key to raising South Africa’s lagging growth potential – World Bank 

By: Terence Creamer     17th January 2017 The World Bank says raising private investment in South Africa will be critical to increasing the country’s growth potential above its current estimate of only 1.3%, which is well below the National Development Plan’s (NDP’s) aspiration of 5.4% a year. In its ninth South Africa Economic Update,... 

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