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Zuma seeks clarity on land expropriation bill

By: Reuters     Updated 2 hours 35 minutes ago South African President Jacob Zuma has asked Parliament to explain the process it followed in passing a bill allowing State expropriations of land to redress racial disparities in land ownership. Land is an emotive issue in Africa's most industrialised country more than two decades after the end... 

Opposition calls for legal opinion on further extension for SAA financials

By: African News Agency      25th July 2016 The Democratic Alliance on Monday urged Parliament’s standing committee on finance to seek legal advice on whether it is allowed to grant National Treasury a third extension in tabling South African Airways’s financial results. "It is in our contention that there is no provision made in the... 

ANC should lose August elections – but will it? 

By: Aubrey Matshiqi     22nd July 2016 The local government elections are upon us. And if things go according to the predictions of political commentators such as yours truly, as well as the number of violent protests we have seen around the country over the past few months, the African National congress (ANC) is in deep trouble. It... 

Terry Crawford-Browne to challenge arms deal commission findings in ConCourt  

By: News24Wire      19th July 2016 Arms deal critic Terry Crawford-Browne has filed an application at the Constitutional Court, asking it to set aside the Seriti Commission's report. In a statement released on Tuesday, Crawford-Browne said he had requested the court to set aside the commission’s report, and to "instruct the... 

Understanding the Tax Implications of the Youth Wage Subsidy

     19th July 2016 Although the controversial Youth Wage Subsidy, made possible through the Employment Incentive Act has been with us for a while, many businesses don’t realise that they should be receiving monetary benefits from it. With its extension beyond 2016 in doubt, businesses have limited time to apply for... 

Don't let corruption, State capture, recolonise Africa – Phosa

By: News24Wire      18th July 2016 Africa is re-colonising itself through corruption, nepotism, and state capture, former African National Congress treasurer-general Mathews Phosa has warned. “Such a second wave of colonialism would, in my view, be as bad as the first one, when Africa was colonised politically and economically,”... 

Denel denies Gupta capture 

By: African News Agency      15th July 2016 State-owned defence conglomerate Denel on Thursday sought to refute allegations that it had been co-opted by the Gupta family to give a R1-billion contract to VR Laser instead of LMT Holdings, which has cried foul and turned to the high court. "Denel wish to respond to the adverse reporting which... 

Tug building project, South Africa

By: Sheila Barradas     15th July 2016 The latest of the Transnet National Ports Authority’s nine new tugboats will set sail from the Durban premises of contractor Southern African Shipyards this month. 

Capitalise on huge investment in the manufacturing sector

     14th July 2016 The future for manufacturing in the KwaZulu-Natal region is looking especially bright, with a number of substantial recently completed projects and newly announced projects seeing a large cash injection from well-known companies. In mid-April, the second phase of the upgrade and expansion to... 

Zuma endorses SA efforts to attract investment

By: News24Wire      14th July 2016 The Department of Trade and Industry will in the next few months launch a national one-stop-shop that will be responsible for issuing permits, licences and registering new businesses, President Jacob Zuma said in a written reply to a parliamentary question. Cope MP Deirdre Carter asked Zuma... 

S Africa, France ink economic and investment cooperation agreements

By: Anine Kilian     12th July 2016 South Africa’s newly established investment division in the Department of Trade and Industry, InvestSA, which champions a one-stop shop approach to investing in South Africa, and France’s trade and investment agency, Business France, on Tuesday signed a Declaration of Intent (DoI) on economic and... 

France, South Africa join hands on development

By: Natasha Odendaal     11th July 2016 There is further room to increase bilateral trade and investment and expand cooperation between South Africa and France, particularly in energy and infrastructure, President Jacob Zuma said on Monday. Zuma, currently on his second State visit to France to meet with French counterpart President... 

South Africa, India boast ‘enormous’ bilateral trade, investment potential – Zuma

By: Anine Kilian     8th July 2016 President Jacob Zuma and Indian Prime Minister Narendra Modi on Friday signed eight memoranda of understanding (MoUs). Some of the focus areas included the establishment of grassroots innovation in the area of science and technology, an MoU on tourism and a programme of cultural cooperation. 

South Africa backs India’s bid to join Nuclear Suppliers Group 

By: African News Agency      8th July 2016 South African President Jacob Zuma agreed Friday to support India’s controversial bid to join the Nuclear Suppliers Group (NSG), an international body which controls commerce in nuclear materials and technology. Indian Prime Minister Narendra Modi announced this at a joint press conference at the... 

Second of nine new TNPA tugs to set sail

By: Anine Kilian     8th July 2016 The latest of Transnet National Ports Authority’s (TNPA’s) nine new, powerful tugboats will set sail from the Durban premises of contractor Southern African Shipyards this month, destined for its new home at the Port Elizabeth port. The tug was ceremonially launched as Qunu in May alongside a... 

SA, India to deepen trade ties

By: African News Agency      8th July 2016 Indian Prime Minister Narendra Modi’s current visit to South Africa has presented the opportunity for the two countries to enhance trade and investment relations, President Jacob Zuma said on Friday. "We are looking to increase and diversify South African exports to India. We have identified new... 

Quality standards for grid-tied systems worth the wait

By: Robyn Wilkinson     8th July 2016 The publication of Small-Scale Embedded Generators (SSEG) national standards for grid-tied systems are more than 12 months overdue, which is a noteworthy delay because of how crucial they are to advancing safe and cost-effective solar energy practices in South Africa, says advanced power product... 

Second of Nine New TNPA Tugs Sets Sail

     7th July 2016 The latest of Transnet National Ports Authority’s nine new, powerful tugboats set sail from the Durban premises of contractor, Southern African Shipyards, on Thursday, 7 July, destined for its new home at the Port of Port Elizabeth. The tug was ceremonially launched as QUNU in May alongside a... 

IMF cuts South Africa's 2016 growth forecast to 0.1%, says outlook sobering

By: Reuters     7th July 2016 The International Monetary Fund cut South Africa's 2016 growth forecast to barely above 0% on Thursday, saying that Africa's most industrialised economy was not keeping up with the increasing population. The economy would grow by 0.1% in 2016 versus a previous estimate of 0.6% given by the global... 

South African State airline ignored procedure in $1bn contract 

By: Reuters     7th July 2016 South Africa's State airline ignored procurement procedure when it awarded a contract to restructure $1-billion of debt to a little-known financier, the Business Day newspaper reported on Thursday. The South African Airways (SAA) board went against the advice of its own treasury by agreeing to... 

Underperformance by ANC in upcoming election may spell trouble for mines, BMI cautions

By: Ilan Solomons     5th July 2016 The South African government's vocal support for labour unions, particularly in wage negotiations, will increase owing to a rising challenge from the country’s political left, research firm BMI said on Tuesday. In an analysis piece entitled ‘Global Mining: Political Flashpoints 2016 Revisted’ the... 

South Africa’s ‘messy’ political state hampers economic growth, coalition government increasingly likely

By: Natasha Odendaal     5th July 2016 South Africa’s “messy” political landscape is not aiding the country’s economic growth ambitions, Centre for Politics and Research executive director Prince Mashele said on Tuesday. “We are in a mess politically,” he told delegates at a Gordon Institute of Business (GIBS) discussion, pointing out... 

Zuma leads delegation to France to promote trade

By: Anine Kilian     4th July 2016 President Jacob Zuma will lead South African Ministers and a business delegation on an official State visit to France from July 11 to 12. The key objective for the visit would be to promote South Africa’s exports and to attract investment in the automotive, ship-building, aquaculture and energy... 

South Africa mourns passing of ‘BEE father’ Don Mkhwanazi 

By: Reuters     4th July 2016 The South African business world on Saturday mourned the death of prominent KwaZulu-Natal businessman and "father" of black economic empowerment (BEE) Don Mkhwanazi, who died of a heart attack in Durban on Friday night. The 63-year-old Mkhwanazi was a politically connected businessman and an ally... 

Plans for municipal entity to run Durban’s troubled bus service put on hold

By: African News Agency      30th June 2016 The establishment of a new entity to run Durban’s troubled municipal bus service will not take place at the start of July as had been promised. A statement released by the eThekwini Metro Municipality on Wednesday said plans to establish a municipal bus service had been placed on hold. 

Treasury says Zuma should pay R7.8m for upgrades to Nkandla 

By: Reuters     27th June 2016 National Treasury has found that President Jacob Zuma should pay R7.8 million for non-security upgrades to his private Nkandla home, a local talk radio station eported on Monday. The top court in Africa's most industrialised country in March ordered Zuma to pay back some of the R246-million of... 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills 

By: Martin Creamer     27th June 2016 The content and the implications of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill are extraordinarily complicated. Three issues, which embody the most significant negative implications for the mining industry and South Africa, have been delaying the finalisation of... 

South Africa has lost respect in Africa – Mbeki

By: News24Wire      27th June 2016 Former President Thabo Mbeki said South Africa has lost the respect of countries, both in Africa and globally,  which had invested in its success. Speaking in Johannesburg on Friday night at the launch of The Thabo Mbeki I Know , a book written by various contributors about him, Mbeki said it... 

Rand to remain highly volatile on Brexit victory – analysts

By: News24Wire      24th June 2016 Analysts were shocked on Friday to see the rand dive more than the day President Jacob Zuma fired former finance minister Nhlanhla Nene as the UK voted to leave the European Union. Rand Merchant Bank analyst John Cairns was alarmed that the currency’s losses against the dollar had swung between... 

Zuma proud of megahousing project in KZN 

By: News24Wire      24th June 2016 President Jacob Zuma on Thursday gave a "mega" housing project in Pietermaritzburg his stamp of approval. Zuma visited the Vulindlela rural area to celebrate the project that has built 12 300 houses since 2012. The project aims to deliver a total of 25 000 homes by completion in 2018. 

Mining Charter should be policy not law – Leon 

By: Martin Creamer     21st June 2016 The Mining Charter should be a policy type document rather than a legislative instrument. “We need to go back to what it was intended to be,” Herbert Smith Freehills partner and Africa practice co-chair Peter Leon said on Tuesday. (Also watch attached Creamer Media video). 

Zuma urges labour to work with government

By: News24Wire      21st June 2016 President Jacob Zuma has praised organised labour and business for working with the government to avert a recent ratings downgrade, and said the cooperation should continue. Speaking at the opening of a meeting of the presidential labour working group in Pretoria on Tuesday, he thanked trade... 

Presidency reports on progress with 9-point plan

By: News24Wire      21st June 2016 The South African Government is making steady progress in the implementation of its Nine Point Plan to reignite growth and create jobs, the Presidency said on Monday. The plan, which forms part of of the implementation of the National Development Plan (NDP), was announced by President Jacob Zuma... 

Meeting of the presidential labour working group convened

By: News24Wire      20th June 2016 The presidential labour working group is meeting this week to discuss the economy and other related matters, the Presidency said on Sunday. The group comprises the president, deputy president, economic cluster ministers and the leadership of trade union organisations Cosatu, Fedusa and Nactu. 

Govt working hard to promote confidence in the economy – Zuma 

By: News24Wire      17th June 2016 As the country continued to battle high levels of youth unemployment, government was working on programmes to promote confidence in the economy to attract investors, President Jacob Zuma said on Thursday. “We need the economy to grow so that jobs can be created, especially for our youth. Towards... 

Positive Shocks?

By: Terence Creamer     17th June 2016 Various interesting points are made in the commentary associated with S&P Global Ratings’ June decision to affirm South Africa’s investment-grade rating, while sustaining its negative outlook. The country’s political situation is highlighted as being of particular concern, arguably displacing the... 

Gupta-owned company shares dive 91% as websites downed by hackers 

By: News24Wire      15th June 2016 Gupta-owned Oakbay Resources and Energy’s share price plummeted by over 90% on the JSE on Wednesday, the same day that hackers attacked the company’s websites and shut them down. The JSE-listed company was trading R20.86 lower at R2.14, with only 30 shares trading. The company, with a market cap... 

DA submits PAIA application for presidential jet maintenance records 

By: News24Wire      13th June 2016 The Democratic Alliance has submitted a Promotion of Access to Information Act (PAIA) application for the presidential jet's maintenance records. DA leader Mmusi Maimane on Monday said, since the defence department was set on buying a new presidential jet, the decision needed to be scrutinised. 

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