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Gold, operational costs drag down South Africa’s December mining production

By: Marleny Arnoldi     14th February 2019 South Africa’s mining production decreased by 1.6% year-on-year in 2018, following a 3.9% year-on-year increase in 2017 and a decrease of 3.7% year-on-year in 2016, Statistics South Africa (Stats SA) revealed on Thursday. In December, mining production decreased by 4.8% year-on-year, with the... 

Mboweni to trim deficit forecast on growth hopes

By: Reuters     14th February 2019 South Africa's Treasury head Tito Mboweni is likely to appease rating agencies and squeeze a tenth of a percentage point off his previous budget deficit forecast for next financial year, a Reuters poll showed on Thursday. The poll taken in the past week suggests Mboweni will announce a deficit... 

Marginal decrease in South Africa’s unemployment rate

By: Tasneem Bulbulia     12th February 2019 South Africa’s official unemployment rate decreased marginally by 0.4 of a percentage point to 27.1% in the final three months of 2018, Statistics South Africa (Stats SA) reported on Tuesday. The Quarterly Labour Force Survey (QLFS) indicates the number of employed people increased by 149 000 to... 

Tourvest Acquires Local Travelex Assets To Create South Africa’s Largest Forex Provider

12th February 2019 The Financial Services division of integrated tourism group Tourvest has acquired the South African assets of global forex provider Travelex, creating the biggest independent foreign exchange business in South Africa.  The deal, concluded earlier this year following Competition Commission... 

High Court to hear environmental organisations’ application for access to coal IPP documents 

By: Marleny Arnoldi     5th February 2019 The Pretoria High Court will, on Wednesday, hear an application brought by environmental organisations, groundWork and Earthlife Africa, for the handover of various documents relating to the judicial review of the environmental authorisations granted to two coal-fired power station preferred... 

Absa chief executive Ramos to retire at end of February  

By: African News Agency      29th January 2019 Absa CEO Maria Ramos will retire at the end of February when she turns 60 and becomes eligible to do so, the banking group said on Tuesday. Ramos has been group CEO since 2009 and has led Absa through significant milestones including acquiring Barclays’s Africa subsidiary banks; the sell-down and... 

November mining production down 5.6% y/y  

By: Tasneem Bulbulia     15th January 2019 South Africa’s mining production decreased by 5.6% year-on-year in November. Statistics South Africa on Tuesday reported that the largest contributors to the decrease had been the iron-ore, gold, diamonds and other non-metallic minerals sectors. 

Manufacturing production up 1.6% y/y in November  

By: Tasneem Bulbulia     10th January 2019 Manufacturing production increased by 1.6% year-on-year in November, Statistics South Africa reported on Thursday. The largest positive contributions were made by the food and beverages; and motor vehicles, parts and accessories and other transport equipment sectors. 

Finalists named in IITPSA President’s Awards 2018

25th October 2018 The Institute of Information Technology Professionals SA (IITPSA) has named the finalists for the 2018 President’s Awards, including the prestigious IT Personality and Visionary CIO of the Year Awards and two new awards – a Technology Excellence Award and a Social Responsibility/Community Award.... 

Finalists named in IITPSA President’s Awards 2018

25th October 2018 The Institute of Information Technology Professionals SA has named the finalists for the 2018 President’s Awards, including the prestigious IT Personality and Visionary CIO of the Year Awards and two new awards – a Technology Excellence Award and a Social Responsibility/Community Award.  Now in... 

Karri app for school payments expands offering to any organisation needing to collect funds

16th October 2018 The Karri app, launched in April last year, has grown to just under 300 South African schools driven by parent and teacher demand for a solution to school payments. Due to the success of this collections platform, Karri has expanded its offering to include collections for just about any purpose... 

Gladafrica Proudly Sponsors Nedbank Golf Challenge for the 6th Consecutive Year

By: Creamer Media Reporter      16th October 2018 GladAfrica Group will this year again take the front seat as a proud sponsor of the annual Nedbank Golf Challenge for the sixth consecutive year. “The NGC is one of the highlights of the South African sporting calendar. This prestigious golf tournament showcases exceptional South African... 

Park Square: A Landmark Designed With People In Mind

By: Creamer Media Reporter      11th October 2018 Park Square, uMhlanga’s newest business and lifestyle development is due to open its doors in November 2018. Interfacing beautifully with its surrounds, the development offers a future-forward, people-centred destination where the surrounding communities and professionals can shop, work and... 

Nene fears worsening 'jittery' markets – Basa  

By: News24Wire      8th October 2018 Uncertainty over the future of Finance Minister Nhlanhla Nene is leaving markets jittery, in a development the Banking Association of South Africa (Basa) has described as "unfortunate". Basa Chairperson Mike Brown said on Monday that the markets would be watching closely if there were any change... 

On the mend?

By: Terence Creamer     28th September 2018 Business confidence is at debilitating low levels and trust between government and business remains fragile after the abusive Zuma years. Nevertheless, there are some encouraging signs that the relationship is on the mend, albeit at such a high level that it will take time to filter through to... 

Lenders agree to increase Royal Bafokeng Resources’ debt facilities to R3bn

By: Simone Liedtke     25th September 2018 Nedbank and First Rand Bank, trading through its Rand Merchant Bank division, have agreed to increase Royal Bafokeng Resources’ (RBR’s) existing debt facilities from R2-billion to R3-billion. RBR, a subsidiary of Royal Bafokeng Platinum (RBPlat), earlier this year entered into an agreement to... 

CEO Initiative to support government’s investor outreach at October summit

By: Terence Creamer     18th September 2018 The CEO Initiative is putting its weight behind President Cyril Ramaphosa’s plans for increasing levels of investment and stimulating growth in the recession-afflicted South African economy. The CEO Initiative draws in business leaders from various sectors and rose to prominence during Pravin... 

South African mining sees considerable decline of 5.2% in July – Stats SA

By: Simone Liedtke     13th September 2018 Mining production in South Africa decreased by 5.2% year-on-year in July, following a 3.7% year-on-year rise in June, mainly as a result of declines in the production of gold, iron-ore, coal and platinum-group metals (PGMs). According to Statistics South Africa (Stats SA), gold decreased by 15%,... 

Expropriation without compensation could 'trigger classical banking crisis' – Nedbank

By: African News Agency      7th September 2018 Expropriating property without compensation could "trigger a classical banking crisis", Nedbank chief executive Mike Brown told MPs on Friday. Brown was participating in the last round of public hearings by a parliamentary committee probing whether section 25 of the Constitution needs to be... 

Enel Green Power South Africa wind power projects, South Africa

By: Sheila Barradas     7th September 2018 Enel has reached financial close on five new wind farms of about 700 MW in combined capacity. 

Renewable Energy Independent Power Producer Procurement Programme – fourth window

By: Sheila Barradas     31st August 2018 Twenty-seven Renewable Energy Independent Power Producer Procurement Programme project agreements were signed in April 2018.  

South Africa launches electronic trading platform for government bonds

By: Reuters     29th August 2018 The Johannesburg Stock Exchange (JSE) and the London Stock Exchange launched the country's first electronic government bond trading platform, offering an alternative to traditional fixed-income trading via telephone or chat services. The new system offers public price transparency equivalent to... 

South Africa's new coal-fired plants must have emissions technology

By: Reuters     21st August 2018 South Africa's first privately built coal-fired power plants must have the latest technology to reduce harmful emissions, the energy minister said on Tuesday, as a wave of court challenges threaten to derail the projects. Environmental activists have taken legal action against the new Thabametsi... 

Freedom Property subsidiary sells noncore residential units

By: Anine Kilian     15th August 2018 Zambesa Investments, a wholly owned subsidiary of JSE-listed Freedom Property Fund, has agreed to sell eight residential units and 33 service stands, collectively called Tubatse Homes, in Burgersfort. The purchase consideration is R12.6-million and comprises a deposit of R2.52-million, which is... 

Mining production increases 2.8% y/y in June

By: Marleny Arnoldi     14th August 2018 Mining production increased by 2.8% year-on-year in June, from a 1.8% decline in May, with the largest positive contributor being platinum group metals (PGMs), which rose by 28.2% and contributed 5.9 percentage points, says Statistics South Africa (Stats SA). Other positive contributors were... 

Juwi to build, operate three REIPPPP Round 4 solar PV projects

By: Simone Liedtke     13th August 2018 Solar energy equipment supplier juwi Renewable Energies has concluded three engineering, procurement and construction (EPC) and operation and maintenance (O&M) contracts, with a combined value of R3-billion, with African Infrastructure Investment Managers (AIIM), which will deliver 250 MW of... 

Property developer celebrates completion of R250m Sandton apartment skyscraper

By: Nadine James     10th August 2018 Property development company Masingita Group subsidiary Masingita Properties hosted a roof-wetting last month to celebrate the completion of its R250-million luxury apartment skyscraper, Masingita Towers, which is situated in West Road South near the Sandton central business district. The project... 

Paladin noteholders set to meet

By: Esmarie Iannucci     3rd August 2018 The noteholders of dual-listed Paladin Energy are expected to meet on August 21 to vote on the creation of a lien of Paladin Finance in favour of Nedbank in relation to the environmental performance bond obligations for the Kayelekera mine. The noteholders are also expected o vote on a waiver in... 

Enel Green Power reaches financial close on five new wind farms

By: Simone Liedtke     1st August 2018 Enel Global Renewable Energies’ Enel Green Power (EGP) division, in Southern Africa, has reached financial close on five new wind farms with about 700 MW in capacity. The five wind farms – Nxuba and Oyster Bay, in the Eastern Cape, and Garob, Karusa and Soetwater, in the Northern Cape – have a... 

Q2 unemployment rate rises to 27.2%

By: Marleny Arnoldi     31st July 2018 The official unemployment rate increased to 27.2% during the second quarter, compared with 26.7% in the first quarter. This translates to 6.1-milllion unemployed people in South Africa. There are 37.8-million people that are of working age (between 15 and 64 years) in South Africa, of which... 

New property fund aims to renew South Africa’s cities

By: Marleny Arnoldi     25th July 2018 Divercity Urban Property Fund is seeking to renew and re-energise South Africa’s urban centres, and is backed by the experience of leading property specialists and a R2-billion seed portfolio of landmark property assets. Divercity’s biggest shareholders are Atterbury Group and Ithemba Property,... 

We're doing all we can to end long wait in Home Affairs queues – Gigaba 

By: News24Wire      23rd July 2018 Home Affairs Minister Malusi Gigaba says his department is doing all it can to end the long wait in queues at their various branches across the country. Gigaba was speaking at a media briefing in Pretoria about progress made in the department's "War on Queues" campaign, which he launched in April... 

Manufacturing output tempers recession fears

By: Reuters     12th July 2018 South Africa's manufacturing output rose again in May after a disappointing first quarter as production of motor vehicles and durable consumer goods increased, offering hope the economy will avoid slipping into recession. The continent's most industrialised economy suffered its worst quarterly... 

WSP celebrates 1 million m2 of Certified Green Space in Africa

18th June 2018 WSP in Africa, one of the largest multi-disciplinary engineering consultancies on the continent, is celebrating a milestone million square meters (1 million m2) of Certified Green Space in Africa. WSP sustainability consultants and engineers have been hard at work for over a decade; setting... 

Multistakeholder initiative launched to address sustainable mine closure challenges

By: Nadine James     5th June 2018 Private and public sector entities officially launched a sustainable mine closure collaborative platform, called the Mine Water Coordinating Body (MWCB), at the Nedbank-New Partnership for Africa’s Development (Nepad) Business Foundation Networking Forum, hosted in Sandton, on Tuesday. The MWCB... 

'Hi, I'm Pepper' – first humanoid robot in South Africa gently introduces herself

By: News24Wire      5th June 2018 At your next hotel check-in, you might just be assisted by a robot. Well, perhaps not quite yet, but the first humanoid robot in South Africa is an indicator of the capability of artificial intelligence (AI). Pepper, a humanoid chat robot was recently unveiled at Nedbank's digital-branch, the... 

CCP 12J appoints DRA Group as technical partner

By: Marleny Arnoldi     30th May 2018 Mining engineering firm DRA Group will act as a technical partner to mining-focused venture capital company CCP 12J Fund in respect of engineering and outsourced operations and maintenance services.  

Leading mining engineering firm partners with new SA mining finance initiative.

30th May 2018 The DRA Group, a leading mining engineering firm, is to act as lead technical partner to CCP 12J Fund Limited (CCP 12J) in respect of engineering (EPC/M) and outsourced operations and maintenance services. CCP 12J is a new mining-focused Venture Capital Company, established in terms of Section... 

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