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Feasibility study boosts Lincoln’s Kookaburra Gully graphite project prospects

By: Megan van Wyngaardt     27th November 2017 A feasibility study has found in favour of developing what is likely to be Australia’s only operating graphite mine when construction and commissioning work begins towards the second half of next year. ASX-listed Lincoln Minerals on Monday announced the outcomes of the study, which focused on... 

Business Leadership SA reveals business contribution of R1.9tn to GDP 

By: African News Agency      20th November 2017 Business Leadership South Africa (BLSA) chief executive, Bonang Mohale, revealed on Monday that business contributed R1.9-trillion to the country’s GDP, employing seven times more people than government. “We are saying business is the answer, not the enemy. Business is going to play its goal... 

Corruption Watch says banking heads must roll over Gupta scandal

By: Megan van Wyngaardt     13th November 2017 Transparency International (TI) and Corruption Watch – TI’s chapter in South Africa – have called for a firm approach to be taken to any banks involved in the country’s Gupta scandal. This follows a recent statement in the UK Parliament that has generated widespread speculation that a major... 

Gordhan says new South African Revenue Service probe may be case of obfuscation

By: African News Agency      8th November 2017 Former finance minister Pravin Gordhan on Tuesday said the inquiry into tax collection and governance at the South African Revenue Service (Sars) announced by his successor Malusi Gigaba risked obfuscating rather than resolving problems at the entity. “It could be a case of delaying dealing with... 

Guptas inflated Oakbay price through trading by Singapore firm

By: Bloomberg     2nd November 2017 The Gupta family inflated the share price of a company it controlled on its Johannesburg Stock Exchange debut by lending money to a Singapore firm to be used to trade the equities. That came ahead of plans to raise funds for a uranium mine. The Guptas, who are embroiled in a corruption scandal... 

Nonkululeko Nyembezi appointed as first black woman to chair Alexander Forbes

By: African News Agency      1st November 2017 South African financial services group Alexander Forbes on Wednesday announced the appointment of veteran business executive Nonkululeko Nyembezi as the new independent nonexecutive chairperson with effect from January 1, 2018. Nyembezi will become the first woman to chair the board in the... 

KPMG ‘rogue unit’ report grossly unfair to former finance minister Gordhan – Ramaphosa

By: African News Agency      20th October 2017 Deputy President Cyril Ramaphosa on Thursday said a report compiled by auditing firm KPMG for the South African Revenue Service into the existence of a “rogue spy unit” was “grossly unfair” to former finance minister Pravin Gordhan. The KPMG report , which insinuated that Gordhan knew of a... 

KPMG scandal could be the tip of the iceberg 

By: Aubrey Matshiqi     20th October 2017 The KPMG scandal is an example of what happens when accounting meets the profit imperative. It is also an example of what happens when the profit motive, accounting and politics meet. That said, I am happy that members of Parliament's Standing Committee on Public Accounts (Scopa) are not as... 

South African mining industry still not spending enough on R&D

By: Mia Breytenbach     6th October 2017 While South Africa has increased its investment in mining research and development (R&D) since 2014, the country’s investment is still below that of its peers, delegates heard during a panel discussion on ‘Technological Innovation and Advancements in the Mining Industry’ at the Joburg Indaba, on... 

SA business ‘complicit’ in looting of State – Jay Naidoo

By: African News Agency      5th October 2017 Activist for social justice, Jay Naidoo, on Thursday urged the South African business community to find its moral compass and not be complicit in the looting of the State by greedy individuals. Naidoo, who was founding general secretary of the Congress of South African Trade Unions (Cosatu) and a... 

Govt bailouts won’t help SAA, says former finance minister Trevor Manuel 

By: African News Agency      3rd October 2017 Former South African finance minister, Trevor Manuel, said on Tuesday that government bailouts would not help the country’s state-owned airline to escape its troubles, insisting that South African Airlines (SAA) needed to get serious about its corporate governance. This comes after the South... 

McKinsey told Eskom of transparency risk at Trillian Capital

By: Bloomberg     3rd October 2017 Eskom Holdings continued to pay Trillian Capital Partners even after McKinsey & Co warned the South African State power company that it had concerns over transparency at the project development partner. Letters written in March 2016 by McKinsey to Eric Wood, the chief executive officer of... 

South African business confidence hit by political uncertainty and corruption – analyst

By: African News Agency      28th September 2017 Business confidence in South Africa was at an all-time low as a result of political uncertainty, poor economic performance, policy confusion and a general lack of leadership, a turnaround strategist said on Thursday. Alastair Macduff, chairperson and CE of the Turnaround Management Association... 

BLSA suspends 'corrupt' Eskom and Transnet

By: News24Wire      28th September 2017 Business Leadership South Africa on Thursday booted out State-owned entities Eskom and Transnet for their involvement in corruption and State capture with immediate effect. The announcement comes as BLSA launched its #BusinessBelieves campaign in Cape Town, where it signed a “contract” with South... 

Auditing firm cuts ties with Gupta’s Oakbay

By: Sane Dhlamini     27th September 2017 The board of auditing firm Sizwe Ntsaluba Gobodo (SNG) has resigned as auditors of Gupta-owned Oakbay Resources and Energy Limited and its related entities. The auditing firm’s statement stipulates that this decision was made after a thorough assessment of its relationship with the company which... 

Corruption rampant in South Africa – Corruption Watch

By: Anine Kilian     19th September 2017 There is a multiplicity of factors that drive corruption in both public and private institutions throughout South Africa, nongovernmental organisation Corruption Watch chairperson Mavuso Msimang said on Tuesday. Addressing delegates at the ninth Chartered Secretaries Southern Africa Corporate... 

Good corporate governance key to fighting corruption

By: Anine Kilian     18th September 2017 Poor corporate governance at State-owned enterprises (SoEs) has become endemic, Chartered Secretaries Southern Africa (CSSA) CEO Stephen Sadie said on Monday. He told delegates at the ninth CSSA Premier Corporate Governance conference, in Johannesburg, that good governance at public sector... 

African copper, nickel mines on Coal India radar as miner diversifies

By: Ajoy K Das     18th September 2017 Having decided to evolve into a diversified resource major from a pure play coal miner, Coal India Limited (CIL) has identified copper and nickel mines in Africa for its maiden overseas foray into noncoal minerals. KPMG has been appointed to prepare the roadmap that will see CIL emerge as a... 

KPMG South Africa shakes out top management over Gupta scandal

By: Reuters     15th September 2017 Global auditor KPMG cleared out its South African leadership on Friday after damning findings from an internal investigation into work done for the Guptas, businessmen friends of President Jacob Zuma accused of improperly influencing government contracts. KPMG's investigation did not identify any... 

McKinsey, KPMG targeted as South Africa graft scandal widens

By: Bloomberg     15th September 2017 After helping topple one of Britain’s best known public-relations companies, South African anti-corruption groups are now targeting US consultancy McKinsey & Co. and auditing firm KPMG for doing work for businesses tied to the Gupta family and President Jacob Zuma’s son. The Guptas, originally... 

Tech is making us super human: where is your cape?

     15th August 2017 By Paige dos Santos, Senior Specialist: digital transformation and innovation for SAP Africa   The future beckons… A world where the impossible becomes possible, where the imagined manifests. A world where we metamorphise into super humans. Where man and machine merge, transhumanism becomes a... 

Kubayi refutes CEF board suspension report 

By: Creamer Media Reporter      1st August 2017 Energy Minister Mmamoloko Kubayi on Tuesday refuted a media report stating that she had suspended the Central Energy Fund (CEF) board. The Minister confirmed, however, that board members had been handed letters in July 26 requesting “an explanation on concerns”. No details were provided, however,... 

Leading South African Engineering Firm Partners with Silversoft to Implement Deltek Project Information Management

     27th July 2017 Deltek, the leading global provider of enterprise software and information solutions for project-based businesses, announced today that CKR Consulting Engineers is partnering with Silversoft to implement Deltek Project Information Management (PIM), the industry’s leading enterprise information... 

World enters an era of 'geopolitical recession'

By: Natasha Odendaal     15th June 2017 The world has entered into its first year of "geopolitical recession" since World War Two, where there is a total downturn in politicians being able to deliver to a global scale, resulting in what has been dubbed a G-Zero – a world without leadership and a world characterised by a “growing vacuum... 

Redisa plans to contest government’s liquidation order

By: Megan van Wyngaardt     14th June 2017 The Recycling and Economic Development Initiative of South Africa (Redisa) is planning to legally contest the decision of Environmental Affairs Minister Dr Edna Molewa to liquidate the tyre waste management company, with executive director Stacey Davidson going so far as to describe the move as... 

South African CEOs ‘disrupting’ to grow in uncertain climate

By: Natasha Odendaal     13th June 2017 Audit, tax and advisory services firm KPMG’s ‘2017 CEO Outlook’, released on Tuesday, has revealed that South African CEOs see the positive side of “disruptive forces” facing their respective companies, and are feeling the urgency to “disrupt and grow” amid new challenges and uncertainties. The... 

Gupta-owned Oakbay Resources loses JSE sponsor over associated risk

By: African News Agency      5th June 2017 Oakbay Resources and Energy, which is owned by the controversial Gupta family, on Monday lost its JSE sponsor, River Group, after being given notice of the termination of their appointment as sponsor. River Group is a JSE sponsor, designated adviser and international corporate finance boutique... 

Column: Koeberg aims to ease Cape Town's water woes through desalination

     29th May 2017 In this article, Koeberg power station manager Velaphi Ntuli outlines initiatives under way at the nuclear power station to reduce water consumption and desalinate groundwater. Cape Town is in a drought crisis, and it is predicted that this will certainly not be the city’s last water crisis. Dam... 

Calls to work together to strengthen infrastructure delivery in Africa

By: Kim Cloete     9th May 2017 Consulting engineering firms have been encouraged to form intra and inter-regional partnerships to work on infrastructure projects across the African continent. Kofi Asare-Yeboah, the chairperson of the Group of African Member Associations (Gama) of the International Federation of Consulting... 

Need for partnerships in water sector emphasised

By: Johane Turkstra     5th May 2017 With South Africa’s water infrastructure in need of an upgrade, advisory firm KPMG says utilities and the private sector need to form partnerships that will ensure that these upgrades take place. “The main challenge in the water sector is not only the provision of infrastructure but its... 

South Africa’s junk status problematic for power sector

By: Johane Turkstra     5th May 2017 South Africa’s recent demotion to credit rating junk status is immediately and directly affecting the country’s power supply. South Africans should not “bluff themselves” as the country’s newfound status can become a huge problem says audit, tax and advisory services company KPMG advisory head De... 

Utility expo to highlight off-grid project developments

By: David Oliveira     5th May 2017 African Utility Week, taking place from May 16 to 18, in Cape Town, will showcase how the continent is creating innovative, home-grown solutions for its energy and water challenges, and how these are creating opportunities for utilities and industry suppliers. The event will give voice to the... 

AVeS Cyber Security appoints new Managing Director

     24th March 2017 Professional IT services consultancy AVeS Cyber Security has appointed Cecil Munsamy as its new Managing Director, with effect from 1 February 2017. Munsamy has 29 years’ experience in the IT industry, comprising 19 years in Application Development and Infrastructure, and ten years in IT... 

Qld govt increases support for mining equipment, services sector

By: Esmarie Swanepoel     23rd March 2017 The Queensland government has announced plans for a new accelerated programme to benefit the state’s A$21-billion mining equipment, technology and services (Mets) sector. Minister for State Development Dr Anthony Lynham on Thursday said applications would soon open for the new accelerator... 

Junior miners under strain as investors increasingly look elsewhere

By: Dylan Slater     17th March 2017 Encouraging investment for junior miners is becoming a persistent issue amid faltering markets and investors increasingly seeking ways to settle their capital in other markets, stocks and companies that can guarantee its safeguarding and growth. Based on the sentiment of participants of the... 

Volkswagen restructures to fill sub-Saharan Africa gaps

By: Irma Venter     17th March 2017 German car manufacturer Volkswagen has established Volkswagen Sub-Saharan Africa as a regional operation, in a move aimed at developing and strengthening the African market. The new region joins the existing regions of North America, South America and China, and forms part of Volkswagen’s... 

KPMG to take the lead with industry solutions at African Utility Week

     15th March 2017 Generating value and creating agility in the evolving business landscape of power and utilities With the firm’s goal to focus on ‘future proofing’ in an effort to prepare for both foreseeable and  unforeseeable forces that are fundamentally changing the power and utilities industry, KPMG has... 

Responsible water use habits a focus for the long term

By: Robyn Wilkinson     3rd March 2017 The water use strategies currently being adopted in South Africa to manage water shortfalls and prevent further drought damage must become long-term water use habits for all citizens, says South African advisory services provider KPMG associate director Antonino Manus. 

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