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Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     Updated 7 hours ago Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness. 

Global nuclear agency ready to help African countries adopt atomic power

By: Keith Campbell     27th May 2016 The Director General of the International Atomic Energy Agency (IAEA), Yukiya Amano, has reaffirmed his organisation's readiness to help African countries adopt nuclear energy, if they wish to. "Your country [South Africa] is the only established user of nuclear power [in Africa]. Other countries... 

Nothing new in latest Ipap iteration

By: Riaan de Lange     27th May 2016 It is said that the English expression 'same old, same old', which means nothing has changed, evolved from the 1950s Japanese expression, samo, samo – but I am certain that this is so. Then there is the English expression 'much of a muchness', which is a great way of saying that two things are so... 

Output from Toyota’s Durban plant to fall as it ramps up new models

By: Irma Venter     27th May 2016 Toyota South Africa Motors (TSAM) will see production at its Durban plant drop from 138 000 units in 2015 to an expected 122 000 units this year, says TSAM president and CEO Andrew Kirby. Of the 138 000 units assembled at the Prospecton plant last year, 93 500 units were Hilux bakkies, 10 200... 

SA’s relative economic decline undermines its diplomatic ambitions

By: Keith Campbell     27th May 2016 The news, released earlier this month, that Egypt had become Africa’s second largest economy, pushing South Africa into third place, did not create all that much of a stir. There were two good reason for this. The huge shock had been to lose first place to Nigeria, back in 2014, whose economy was... 

WTI, Brent crude rises above $50 for first time this year

By: Henry Lazenby     26th May 2016 Hamstrung oil producers could on Thursday afford a brief sigh of relief as the prices of both West Texas Intermediate (WTI) and Brent crude rose briefly above the psychologically important $50/bl-mark in early trading. WTI hit a high of $50.21/bl around 08:00 Eastern Daylight Time, while Brent... 

Pivotal lifts FY NAVPS

By: Anine Kilian     25th May 2016 Development focused investment fund Pivotal Fund achieved a 23.91% increase in its net asset value per share (NAVPS) to R22.80 for the year ended February 29. “The growth in our NAVPS was attributable to the revaluation of the income producing properties, fair value adjustments on current... 

MTN near to hiring new CEO

By: News24Wire      25th May 2016 Embattled mobile network MTN Group says it is near to hiring a new chief executive officer after the previous head of the company quit late last year. Local telecoms veteran Sifiso Dabengwa resigned as MTN Group CEO last November after Nigerian regulators slapped the company with a massive $5.2bn... 

Tiger Brands lifts H1 profit, earnings from continuing operations

By: Anine Kilian     24th May 2016 Despite a sustained difficult operating environment, JSE-listed Tiger Brands on Tuesday reported flat headline earnings a share from continuing operations of 978c for the six months ended March 31. Earnings a share increased 7% to 1 021c, while the company’s after-tax profit increased 44% to... 

IHS Towers Wins Africa Telecom Infrastructure Company Of The Year Award

     24th May 2016 IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, has won the 2016 Africa Telecom Infrastructure Company of the Year Award at Africa’s Information Technology & Telecom Awards. The Award was received during the West Africa Telecom... 

POWER-GEN & DISTRIBUTECH AFRICA: Africa’s power sector to seek sustainable growth drivers

     23rd May 2016 POWER-GEN & DISTRIBUTECH AFRICA: Africa’s power sector to seek sustainable growth drivers Africa’s leading power generation and distribution stakeholders are set to converge in Sandton later this year, for talks on creating power for sustainable growth in Africa. 

Oil prices fall on strong dollar, firm global supply

By: Reuters     23rd May 2016 Oil prices fell in Asian trade on Monday on a strong dollar and signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs. In a further indication of abundant supply, the number of rigs operated by US drillers was steady last week for... 

Funding for South African pharmaceuticals research increasing

     20th May 2016 Pharmaceutical company AstraZeneca through its research trust has awarded seven South Africans grants totalling R1.5-million for the 2015/2016 year. This increases the total number of research grants conferred locally by the trust to 18 since its inception in 2014. 

New African automotive body to offer support to aspirant manufacturers

By: Irma Venter     20th May 2016 The initial focus of the newly formed African Association of Automobile Manufacturers (AAAM) will be to assist countries wishing to participate in the automotive value chain to implement the appropriate legislation and regulations that will allow the automotive industry to thrive on the... 

Quantity surveyors can minimise inflated construction costs  

By: Nadine James     20th May 2016 Voluntary quantity surveying organisation the Association of South African Quantity Surveyors (ASAQS) executive director Larry Feinberg would like the South African government and construction stakeholders to recognise the value of employing reputable quantity surveyors to alleviate corruption... 

Zimbabwe cement producers seek tariffs on imports

By: Reuters     19th May 2016 Zimbabwe's cement producers want the government to impose tariffs on imports, including from Nigeria's Dangote Cement, saying this would prevent the collapse of the local industry and save jobs. The southern African nation has three cement manufacturers, Lafarge Cement Zimbabwe, Pretoria Portland... 

Rosatom seeks cooperation agreements for African nuclear expansion

By: Reuters     19th May 2016 Russia's State nuclear agency Rosatom plans to sign cooperation agreements with Kenya, Uganda and Zambia to lay the groundwork for an expanded presence in sub-Saharan Africa beyond its planned bid to build nuclear power plants in South Africa. Rosatom has voiced confidence in its ability to see... 

Water, energy sectors need to collaborate more – World Bank

By: Kim Cloete     18th May 2016 The interplay between water and energy is more critical than ever, with climate change forcing people to work together, according to World Bank energy and extractives global practive director Charles Feinstein. “You can’t tackle energy problems without being sensitive to water demands. Global... 

Toyota SA to see production, exports dip, recovery expected in 2017

By: Irma Venter     18th May 2016 Toyota South Africa Motors (TSAM) will see production at its Durban plant drop from 138 000 units in 2015 to an expected 122 000 units this year, says TSAM president and CEO Andrew Kirby. Of the 138 000 units assembled at the Prospecton plant last year, 93 500 units were Hilux bakkies, 10 200... 

Nuclear will be needed in years to come, says Eskom

By: Kim Cloete     17th May 2016 While State-owned power utility Eskom has acknowledged the importance of renewable energy as a way of producing better and cheaper energy, it maintains that nuclear will still be needed as baseload energy in years to come. Eskom distribution group executive Mongezi Ntsokolo told delegates at... 

UN expert urges African utilities to improve policies, pricing

By: Kim Cloete     17th May 2016 African power utilities have been urged to adopt good policies and pricing and be at the forefront of change or risk being left behind. “Africa contributes less than 3% of manufacturing globally. That is unacceptable. Our population will be 1.4-billion by 2030 and two-billion by 2050. We need to... 

Coca-Cola HBC would consider expanding in Africa

By: Reuters     13th May 2016 Coca-Cola HBC, a bottler of Coca-Cola drinks, is open to further acquisitions in Africa if the right opportunity became available, its chief executive said on Friday. Coca-Cola and brewer SABMiller are combining their African soft drink bottling operations, but the future ownership could change,... 

End of commodities boom hits African countries

By: Keith Campbell     13th May 2016 The global commodities super cycle has come to an end, sharply lowering the price of oil, gas, metals and minerals,” stated the World Bank in its most recent ‘Regional Overview for Africa’ review (published in late March). “As a net commodities exporter, Africa is deeply affected by falling... 

Detectors supplied to oil project

     13th May 2016 Over $3-million worth of General Monitors (GM) fixed flame and gas detection products have been supplied to the Egina offshore oilfield by safety products manufacturer MSA Africa, which forms part of the Total Upstream Nigeria project. MSA Africa supplied the products to a major engineering,... 

Leakage system provides solutions in Johannesburg

By: Simon Sonnekus     13th May 2016 Water-leak detection and control systems provider AquaTrip South Africa has reasserted its focus on conserving water with the installation of its electronic valve, which monitors water flow at schools across Johannesburg. The Brisbane-based company has a regional office in Stellenbosch, in the... 

Africa told to adjust, diversify amid commodity price slide

By: Reuters     12th May 2016 African governments that are struggling with low commodity prices need to diversify their economies, control spending and raise tax revenues to make up for lost earnings, the IMF and African Development Bank said on Thursday. Sub-Saharan economic growth is likely to slow to 3% in 2016, its... 

Nhleko to stay on to deal with Nigerian fine

By: Reuters     12th May 2016 MTN Group's interim executive chairman is to stay on in his role while he continues to try and settle the dispute with Nigeria over a $3.9-billion fine imposed on the South African telecoms company, its spokesman said on Thursday. Phuthuma Nhleko took temporary charge of Africa's biggest mobile... 

Global body stands ready to help African countries adopt nuclear power

By: Keith Campbell     12th May 2016 The director-general of the International Atomic Energy Agency (IAEA), Yukio Amano, on Wednesday reaffirmed his organisation's readiness to help African countries adopt nuclear energy, if they wish to. "Your country [South Africa] is the only established user of nuclear power [in Africa]. Other... 

Nigeria's mining pioneers weigh risks and rewards

By: Reuters     11th May 2016 Arriving on motorbikes after midnight, a dozen gunmen opened fire on gold miners sleeping at a camp in northern Nigeria last month, killing one of them and stealing their equipment before fleeing into the bush. The site, a collection of huts and tents flanked by Baobab trees where locals sell... 

Two SA doctors make top 10 nominations for Innovation Prize for Africa 2016 ceremony

By: African News Agency      9th May 2016 Two South African doctors are among the ten people nominated for the Innovation Prize for Africa, the African Innovation Foundation announced on Monday. South Africans Dr Imogen Wright (South Africa), who invented Exatype – a software solution that enables healthcare workers to determine HIV... 

AECOM wins high-profile consultancy work across South Africa

     6th May 2016 AECOM, a premier fully-integrated infrastructure and support services company, continues to secure high-profile consulting engineering work in South Africa across a range of sectors. AECOM has been awarded a R134 million five-year contract by SANRAL to provide consulting engineering services for... 

African countries have major nuclear ambitions

By: African News Agency      6th May 2016 Eleven African countries are considering building nuclear power plants over the next 14 years to overcome the continent’s extreme electricity shortage. Outside South Africa, the entire installed generation capacity of Sub-Saharan Africa was now just 28 GW – equivalent to that of Argentina – Anton... 

Car and bakkie exports into Africa declined for third year running in 2015

By: Irma Venter     6th May 2016 South African car and bakkie exports into Africa declined for the third year in a row in 2015, falling from 79 228 units in 2012, to 77 589 units in 2013, 60 189 units in 2014, and 41 446 units last year – this according to the Automotive Industry Export Council’s newest Automotive Export Manual,... 

SeaVsat Selects SES Enterprise+ Broadband Platform, Inks Capacity Deal to Connect Vessels Worldwide

     4th May 2016 SES’s capacity and customised broadband platform will provide reliable communications to SeaVsat’s maritime customers. SES S.A. announced today that SeaVsat, a global mobile broadband communication solutions and maritime communications provider, has chosen to use the SES Enterprise+ Broadband... 

Kogi moves to advance Nigerian iron project

By: Esmarie Swanepoel     3rd May 2016 ASX-listed Kogi Iron is advancing its Agbaja project, in Nigeria, towards development following successful tests conducted to determine the smelting characteristics of the project’s ore. Kogi was hoping to build an initial mining operation alongside a 250 000 t/y steel product processing plant at... 

DTI invites companies to participate in West Africa trade mission

By: Anine Kilian     29th April 2016 The Department of Trade and Industry (DTI) has invited companies to participate in a trade and investment mission to Ghana and Nigeria from August 8 to 12.   Companies in the agriculture and agroprocessing sectors, built environment professionals, automotive and automotive components, energy,... 

Africa’s growth potential showing consistency

     29th April 2016 Economic growth in Africa is expected to average over 4% in the next five years, according to accountancy and finance body the Institute of Chartered Accountants in England and Wales (ICAEW).  

Why invest in South Africa?

By: Riaan de Lange     29th April 2016 Have you ever wondered why anyone would want to invest in South Africa? The economic reasoning for such a decision, that is. In recent weeks, I have been asking myself this question with increased regularity.  On April 13, I decided to employ Google to see the results it delivers for ‘Why invest... 

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