R/€ = 13.69 Change: 0.00
R/$ = 12.95 Change: -0.02
Au 1257.07 $/oz Change: 0.37
Pt 1028.00 $/oz Change: 0.80


AMSA unveils interim steel rail hub

By: Natasha Odendaal     24th February 2017 The official unveiling of the Isando Distribution Centre, in Germiston, on Friday, marked the next step in steel producer ArcelorMittal South Africa’s (AMSA’s) long-term initiative to migrate the bulk of domestic final product steel distribution from road to rail. Dedicated rail links between... 

Electrical product supplier launches range of switches and sockets

By: Nadine James     24th February 2017 Electrical product supplier Legrand South Africa (SA) – a subsidiary of multinational industrial product supplier Legrand – launched the Ysalis switches and sockets range in South Africa earlier this month. This forms part of the company’s strategy to introduce chic wiring devices to local... 

Northam buys Glencore’s Eland mine for R175m; secures chrome marketing agreement

By: Anine Kilian     24th February 2017 JSE-listed Northam Platinum has acquired the Eland platinum mine from Glencore Operations South Africa for R175-million.  It has also concluded an exclusive chrome marketing agreement with Glencore International, which will market and sell chrome produced at Northam’s Zondereinde and Booysendal... 

AA says vehicle safety ratings scale would equip buyers with vital information

By: Irma Venter     24th February 2017 South Africa’s Automobile Association (AA) has called for the implementation of a local vehicle safety ratings scale. The association on Friday said that such a ratings scale would ensure consumers had a better understanding of the safety of the vehicle they intended purchasing. 

Air force base sends 60 cadets for training

     24th February 2017 From next year the South Africa Air Force (SAAF) will send 60 cadets to a US military academy each year to pursue their first degree in their chosen fields. This will include future pilots, navigators, engineers, technicians and other support mustering. 

Contested terrain

By: Terence Creamer     24th February 2017 While the recent chaos-ridden State of the Nation address was long on rhetoric and short on detail (as well as new ideas), President Jacob Zuma nevertheless arguably succeeded in placing the concept of ‘radical socio-economic transformation’ at the centre of the current economic and business... 

Cummins to grow its Southern African presence as it celebrates 70-years

By: Schalk Burger     24th February 2017 Power and engine multinational Cummins aims to grow its presence in its Southern  African operations, including Botswana, Zimbabwe, Zambia and Mozambique, says Cummins Southern Africa MD Thierry Pimi. The key industries for Cummins in the region are the mining, power generation and automotive... 

Digital broadcasting migration project, South Africa

By: Sheila Barradas     24th February 2017 Advocate Wim Trengove has told the Constitutional Court that a decision on the amended set-top box policy is unnecessary, as it will have no legal binding effect. 

Diplomatic doldrums for Pretoria?

By: Keith Campbell     24th February 2017 While much local media attention has been devoted to US President Donald Trump, there has been something that, from a South African perspective, was much more important. This was the outcome of the African Union summit at the end of January. This appears to have been pretty much a diplomatic... 

Good increases in passenger numbers at Acsa’s airports last year

By: Keith Campbell     24th February 2017 The Airports Company South Africa (Acsa) had a record year last year, in terms of the numbers of passengers who passed through its airports. This was revealed when it published its latest “Aviation Barometer” report. This is the fourth edition of the report, which is compiled from official Acsa... 

IBM aims to train 25m young Africans using free digital skills platform

By: Schalk Burger     24th February 2017 Technology multinational IBM launched a $70-million (R945-million) digital literacy and skills development initiative aimed at training 25-million people in Africa over five years. The Digital Nation Africa (DNA) initiative is being undertaken in partnership with African universities, companies... 

Japanese-manufactured variable refrigerant flow introduced into South Africa

By: Sascha Solomons     24th February 2017 Electronics and electrical products manufacturer Toshiba’s super heat recovery multi (SHRM) variable refrigerant flow (VRF) technology for the air-conditioning industry has been introduced to the South African market by distribution company AHI Carrier South Africa. 

Japanese-South African seminar seeks to boost business ties

By: Dylan Slater     24th February 2017 The fourth Japan Seminar was held at the Sandton Convention Centre last month.  

New Fiat Chrysler Automobiles SA chief outlines ‘get fit’ vision

By: Irma Venter     24th February 2017 “We realise that we have to get ourselves fit again and I am committed to achieving that,” says new CEO at Fiat Chrysler Automobiles South Africa (FCA SA), Robin van Rensburg. “We have not been as versatile in the last while as we should have been.” Van Rensburg joins the Italian-US group from... 

Busa welcomes Budget, commits to playing a role in country’s economic transformation

By: Megan van Wyngaardt     23rd February 2017 Business Unity South Africa (Busa) on Thursday welcomed the prioritisation of education and social spending, as well as the reforms in public procurement outlined by Finance Minister Pravin Gordhan in his Budget speech on Wednesday. Busa believes these measures will generate improved efficiencies... 

Association highlights the negative impact of poultry imports on the feed industry

By: Megan van Wyngaardt     23rd February 2017 Poultry meat imported into South Africa during 2016 displaced around 1.5-million tonnes of broiler feed, worth an estimated R8.2-billion or the equivalent of 15 medium-sized feed mills, which could have been locally manufactured, Animal Feed Manufacturers Association of South Africa (AFMA) said... 

Barclays Africa CEO 'deeply regrets' role in FX rigging

By: Reuters     23rd February 2017 South African lender Barclays Africa asked for forgiveness on Thursday for its role in rigging the local currency, a scandal that has raised questions over the dominance of four big local banks. "We deeply regret that this conduct took place within our organisation," Chief Executive Maria Ramos... 

Wage deadlock in rail sector

By: African News Agency      23rd February 2017 Wage negotiations between two transport unions and the Passenger Rail Agency of South Africa (PRASA) have deadlocked, the United National Transport Union (UNTU) said on Thursday. The union said it was demanding a 20% salary increase, while the employer was offering 3%. 

Shell’s Mohale steps down to pursue other opportunities

By: Megan van Wyngaardt     23rd February 2017 Shell South Africa chairperson and upstream VP Bonang Mohale will step down from his role, effective June 30, to pursue other opportunities. Mohale, who has been with Shell South Africa since 2009, will be succeeded by Hloniphizwe Mtolo, who is currently the South African business retail and the... 

Afrox weathers yet another difficult trading year

By: Megan van Wyngaardt     23rd February 2017 The benefits of its successful restructuring and the litigation settlement with ArcelorMittal South Africa (AMSA) resulted in gas company African Oxygen (Afrox) reporting a 23.2% year-on-year increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to R1.24-billion for... 

Treasury seeks to establish budgeting facility for large infrastructure projects

By: Natasha Odendaal     23rd February 2017 As South Africa’s government moves to strengthen its budget execution and improve in-year monitoring, while also bolstering infrastructure development, the National Treasury has proposed the establishment of a new facility to optimise large multiyear infrastructure project roll-outs that require... 

SKA SA, Agri SA partner to benefit Karoo communities

By: Anine Kilian     22nd February 2017 Square Kilometre Array South Africa (SKA SA) and Agri SA have signed an agreement to ensure that local communities of the Karoo benefit from the SKA project. The SKA project is an international effort to build the world's largest radio telescope. 

Treasury says investor confidence in Sanral improves

By: Natasha Odendaal     22nd February 2017 Despite ongoing uncertainty surrounding fee collection for the much-contested e-tolling of certain Gauteng freeways by the South African National Roads Agency Limited (Sanral), the National Treasury believes investor confidence in the agency has returned following the conclusion of two successful... 

$1bn earmarked for AngloGold’s deep-but-cheap Mponeng mine

By: Martin Creamer     21st February 2017 A big capital investment is on the cards for AngloGold Ashanti’s Mponeng gold mine, the world’s deepest underground operation. The former Western Deep Levels Number One operation was on the receiving end of a surfeit of comment when AngloGold Ashanti presented cash-rich results on Tuesday.  

Set top box policy amendment matter back in Constitutional Court

By: African News Agency      21st February 2017 Advocate Wim Trengove SC told the Constitutional Court on Tuesday that a decision on the amended set top box (STB) policy was unnecessary as it would have no legal binding effect. Trengove, who is acting for Communications Minister Faith Muthambi, was quizzed by Chief Justice Mogoeng Mogoeng and... 

Downstream steel industry not supportive of AMSA’s lobby for tariff protection – Neasa

By: Anine Kilian     21st February 2017 The National Employers Association of South Africa (Neasa) on Tuesday requested that steel producer ArcelorMittal South Africa (AMSA) withdraw its plea to the downstream steel industry to join it in a united lobbying effort for higher levels of tariff protection on both primary and value-added... 

Gibela worried over impact of Duduza unrest on Dunnottar plant construction

By: Anine Kilian     21st February 2017 Gibela Rail Transport Consortium has expressed concern over ongoing community unrest in Duduza, in Ekurhuleni, which is impacting on construction activities at its R1-billion Dunnottar train manufacturing plant. It said on Tuesday that the disruption to the time-sensitive construction work at the... 

Ending mine fatalities most pressing 2017 priority – AngloGold

By: Martin Creamer     21st February 2017 The first and most pressing of AngloGold Ashanti’s key 2017 priorities is to put an end to mine fatalities by improving workplace conditions and bettering legal compliance, AngloGold Ashanti chief operating officer South Africa Chris Sheppard said on Tuesday, when the company posted stunning... 

Commission grants Barclays Africa some immunity in FX rigging probe

By: Reuters     21st February 2017 South Africa's competition watchdog has granted Barclays Africa conditional immunity from prosecution in return for its continuing cooperation in the rand currency rigging probe, the head of Competition Commission said on Tuesday. The Commission said last week it had found more than a dozen local... 

Congested cities lead the re-invention of the delivery vehicle

     21st February 2017 Hard-pressed small business owners are constantly performing balancing acts. On the one hand, highly competitive environments mean that they are forced to increase service levels and cope with pressure on margins. On the other hand, they are being forced to reduce costs so that they can meet... 

Free cash rockets to $278m, dividend resumed – AngloGold

By: Martin Creamer     21st February 2017 Gold mining company AngloGold Ashanti will resume dividends after lower operating and interest costs helped it nearly double free cash flow to $278-million on lower production. In the 12 months to December 31, AngloGold Ashanti produced 3.6-million ounces of gold across its 17-mine portfolio at a... 

Competition Commission settles with Citi over currency rigging

By: Reuters     20th February 2017 South Africa's Competition Commission has reached an agreement with Citibank for its role in a forex trading cartel, the antitrust watchdog said on Monday. The commission said in a statement Citi would pay a fine of R69.5-million rand ($5-million), less than the 10% of South African annual... 

Germany, South Africa discuss the prospect of fuel cell buses

By: Kim Cloete     20th February 2017 South African specialists and government officials have met with their German counterparts to discuss a pilot project to introduce hydrogen fuel cell buses in two cities in South Africa. Germany has already rolled out some such buses in Berlin, Stuttgart and Hamburg and is sharing its experience... 

New panel established to guide Gauteng on infrastructure projects 

By: Natasha Odendaal     20th February 2017 The Gauteng provincial government (GPG) has established an economic advisory panel to advise it on the roll-out of social and economic infrastructure projects planned for the next two years. GPG aims to leverage the various infrastructure projects planned for the next two years to promote the... 

Fiscal consolidation, tax increases, SoE cost containment critical for pro-poor Budget - Busa

By: Natasha Odendaal     20th February 2017 Fiscal consolidation, considered and careful tax increases and parastatal cost containment will be critical elements for a pro-poor, pro-inclusive-growth Budget for South Africa for the year ahead. While there is a limit to what can be achieved through an effective Budget, Business Unity South... 

AMSA, government sign pricing principles agreement

By: Anine Kilian     17th February 2017 Steel producer ArcelorMittal South Africa (AMSA) has reached a five-year agreement with the Department of Trade and Industry on steel pricing principles. The agreement is intended to achieve a fair price for steel, which enables AMSA to earn a reasonable margin from domestic sales, while being... 

DTI promises fast-tracked support for downstream steel industry

By: Terence Creamer     17th February 2017 The Department of Trade and Industry (DTI) insists that measures to support the downstream steel industry in South Africa are a priority for government and are being fast-tracked. In a statement outlining the various interventions undertaken since 2015 to support a primary steel sector wracked by... 

Pockets of resilience, but SA’s manufacturing outlook remains fragile

By: David Oliveira     17th February 2017 South Africa’s manufacturing sector, which has been struggling to shed the ‘deindustrialisation’ mantle for the past three decades, despite vocal support for the sector from government, is unlikely to experience a dramatic turnaround in 2017. However, there are some signs of resilience and even... 

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