R/€ = 17.42Change: 0.10
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Au 1222.23 $/ozChange: -1.09
Pt 994.00 $/ozChange: 1.50


‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge

By: Terence Creamer     Updated 1 hour 52 minutes ago Government would, within weeks, finalise a “fair pricing” agreement with steel producer ArcelorMittal South Africa (AMSA) and establish a “steel committee” to monitor implementation of the formula, which would be based on a basket of selling prices in Europe, Asia and North America. Department of... 

Metals sector forfeiting billions as imports capture 55% domestic market share

By: Terence Creamer     Updated 3 hours ago The share held by South African metals and engineering producers of the domestic market fell to just 45% last year as imports continued to rise, representing a material decline from a peak of over 65% in 2002. In fact, Steel and Engineering Industries Federation of Southern Africa chief economist... 

Truck market to drop 13% in 2016; 2017 to offer little reprieve – ITSA

By: Irma Venter     Updated 3 hours ago The South African new-truck market will probably drop 13.2% in 2016, to 26 500 units, compared with 2015, says Isuzu Trucks South Africa (ITSA) COO Craig Uren. Next year holds little promise for recovery, with the market currently forecast at around 27 500 units or less, he adds. 

Pan African raising cash for BEE toughening, funding headroom

By: Martin Creamer     Updated 4 hours ago Gold-, platinum- and coal-mining company Pan African Resources told shareholders on Thursday that it would be raising equity capital to cement its black economic-empowerment (BEE) compliance and provide it with financial headroom for swift access to organic and acquisitive growth opportunities.... 

Ministers stall on banks intervention over Gupta blacklisting

By: News24Wire      26th May 2016 The ministers tasked with intervening in the ongoing stand-off between South Africa’s big four banks and the Gupta-owned Oakbay Investments have missed their deadline. Minister in the Presidency Jeff Radebe told Parliament via a written reply to the Democratic Alliance on Wednesday that the... 

Political uncertainty, corruption drive financial distress – survey

By: Anine Kilian     25th May 2016 Political uncertainty, high unemployment rates, slow economic growth and severe drought have created a perfect storm of economic and political events for South Africa, according to advisory firm Deloitte, which published its South African Restructuring Outlook Survey 2016 on Wednesday.... 

AMSA insists fair pricing does not equate to no price increases

By: Terence Creamer     25th May 2016 Steel producer ArcelorMittal South Africa (AMSA) dismissed suggestions again on Wednesday that its deal with government to raise steel import protection in return for fairer pricing – as well as jobs and investment guarantees – precluded it from increasing prices. The JSE-listed company was... 

More X’Trapolis Mega trains delivered to PRASA

By: David Oliveira     25th May 2016 The Passenger Rail Agency of South Africa (PRASA) has, to date, taken delivery of five X’Trapolis Mega train sets being manufactured by the Gibela Rail Transportation Consortium, in Brazil. A further two of the train sets, each comprising six coaches, were en route to South Africa, while the... 

Pneumatics company launches locally

     25th May 2016 Japan-headquartered pneumatics company SMC Pneumatics launched its South African office in Midrand last month, cementing its presence in 84 countries and creating a distribution and manufacturing centre to extend its service offering for other African clients.  

ACSA appoints GM for regional airports

By: Anine Kilian     24th May 2016 Airports Company South Africa (ACSA) has appointed Jabulani Khambule as GM to lead its six regional airports. The six regional airports were Port Elizabeth International; Bram Fischer International, in Bloemfontein; Upington International; and the East London, George and Kimberley airports. 

Airports Company South Africa Appoints New General Manager for Six Regional Airports

     24th May 2016 Airports Company South Africa is pleased to announce that it has appointed Jabulani Khambule as General Manager to lead its six regional airports.Khambule is not new to the company, having started his career at O.R. Tambo International Airport as a retail consultant in 2002. Over the past 14... 

DA intensifies its campaign with mobile messaging

By: Sane Dhlamini     24th May 2016 Opposition party the Democratic Alliance (DA) has announced the use of mobile messaging in during its election campaign to interact with voters and campaigners and to secure its IT infrastructure with one-time passwords (OTPs) using mobile messaging and push notifications. The DA has secured the... 

Next phase of auto policy to focus on black companies – Zuma

By: Irma Venter     24th May 2016 The next phase of automotive policy development would have a strong focus on creating black-owned suppliers in the automotive value chain, said President Jacob Zuma on Tuesday as he opened Toyota South Africa Motors’ (TSAM’s) new Fortuner and Hilux production lines in Durban. The Department of... 

Toyota SA opens R6.1bn Fortuner, Hilux assembly lines

By: Irma Venter     24th May 2016 President Jacob Zuma on Tuesday officially opened Toyota South Africa Motors’ (TSAM’s) new Fortuner and Hilux production lines. The Japanese manufacturer invested R6.1-billion to facilitate production of the two new models at its Prospecton plant, in Durban. 

Xperien acquires stake in ITAMSA

     24th May 2016 Local IT Asset Disposal specialist Xperien has acquired a 49 percent shareholding in Information Technology Asset Management South Africa. The newly formed partnership will help companies manage their IT assets more efficiently and cost-effectively, maximising return on investment. Xperien brings... 

DTI moving to iron out local-content frustrations around Transnet contracts

By: Terence Creamer     24th May 2016 The Department of Trade and Industry (DTI) has confirmed that it is “concerned” about whether all four of the original equipment manufacturers (OEMs) that have been awarded parts of a R50-billion contract to supply 1 064 electricity and diesel locomotives to Transnet will meet the minimum... 

Collaboration And Integrity Required For Infrastructure Project Success Says Arup SA

     23rd May 2016 “Two key factors for the success of infrastructure projects in Africa is the collaboration between the private and public sector, whilst using a third party for early engagement and de-risk; and integrity in the design process,” said Poya Rasekhi, Chief Executive Officer of Arup SA, at the recent... 

#Aaff2016 - Design Is: Universal | Global | Local

     23rd May 2016 Fuelled by the magic of film and fired by the desire to celebrate architecture, the Architect Africa Film Festival was created in 2006 to acknowledge and embrace the astounding reality of urban living. In 2016, the Architect Africa Film Festival (#AAFF2016) will partner with our valued sponsors –... 

BMW SA unveils solar carport charging for its electric car range

By: Irma Venter     23rd May 2016 BMW Group South Africa (SA) has unveiled a purpose-built solar carport that allows its electric vehicle (EV) range to charge using the power of the sun, instead of electricity from power utility Eskom's grid. The carport, an international innovation by Germany's BMW Group, can charge any EV, such... 

CEOs, govt work on initiatives to stave off downgrade

By: Creamer Media Reporter      20th May 2016 Around 90 CEOs were working in conjunction with government to protect South Africa’s investment grade credit rating, the Banking Association South Africa said in a statement on Friday. Led by Telkom chairperson Jabu Mabuza, the National Business Initiative, along with the Department of Finance... 

Agrément South Africa awards 38 fit-for-purpose certificates

By: Anine Kilian     20th May 2016 Agrément South Africa (SA), an agency of the Department of Public Works, managed by the Council of Scientific and Industrial Research (CSIR), awarded fit-for-purpose certificates to 38 industry players during the 2015/16 financial year. An Agrément SA certification assisted manufacturers and... 

Zuma to officially launch new Toyota lineup in Durban

By: Natasha Odendaal     20th May 2016 While production of the all-new Toyota Hilux and Fortuner models ramps up, President Jacob Zuma will officially unveil the new plant additions at Toyota South Africa’s Prospecton manufacturing facility, in Durban. The Tuesday launch of the new lines, which had been operating since February, was... 

Alternative fundraising model seen flourishing but regulatory issues could stifle uptake in South Africa

By: Mia Breytenbach     20th May 2016 The mining industry is facing increasing risk aversion from equity and debt investors, owing to testing circumstances in the depressed global market, particularly with regard to falling commodity prices, slower economic growth in China and reduced mining production. Owing to traditional funding... 

Countdown begins for key South Africa-linked radio astronomy developments

By: Keith Campbell     20th May 2016 South Africa’s MeerKAT radio telescope array will be ready to start scientific observations by the end of next month, South African Science and Technology Minister Naledi Pandor announced at last month’s Third SKA African Partner Countries Ministerial Meeting. By then, 21 antennas would be... 

Auto sector moving to lay groundwork for less hostile wage talks in 2016

By: Irma Venter     20th May 2016 The South African automotive industry experienced 34 days of labour strikes in 2013 as it negotiated new three-year wage deals within the assembly and component manufacturing sectors, says newly appointed Toyota South Africa Motors (TSAM) president and CEO Andrew Kirby. This year will see... 

Big potential for SA to use ICT investments to stimulate growth

By: Schalk Burger     20th May 2016 South Africa is among the top three developing countries that have the most potential to use information and communication technology (ICT) to boost their economic growth, along with China and Chile, according to the 2015 Global Connectivity Index, says information technology firm In2IT... 

Conventional building methods not suited to African conditions  

By: Nadine James     20th May 2016 Housing and construction systems developer Moladi says its low-cost housing system, comprising plastic formwork panels and a cement admixture, is widely embraced throughout Africa, as it has been specifically designed to meet the requirements of the African market. Moladi founder and CEO Hennie... 

Countdown begins for key South Africa-linked radio astronomy developments

By: Keith Campbell     20th May 2016 South Africa’s MeerKAT radio telescope array will be ready to start scientific observations by the end of next month, South African Science and Technology Minister Naledi Pandor announced at last month’s Third SKA African Partner Countries Ministerial Meeting. By then, 21 antennas would be... 

Gauteng/Gautrain rail extension project, South Africa

By: Sheila Barradas     20th May 2016 The Gauteng government will make an announcement on the possible expansion of the province’s rapid rail system by the end of June. 

Grand Inga hydropower project, Democratic Republic of Congo

By: Sheila Barradas     20th May 2016 The Democratic Republic of Congo government will decide on either a Chinese or Spanish consortium to develop the long-delayed Inga 3 hydroelectric project by October this year. 

Mozambique steel plant acquired by South African manufacturer

By: Dylan Slater     20th May 2016 Following extensive negotiations with Capital Africa Steel (CAS), LionSteel South Africa (SA) has acquired the Mozambique-based steel pipe manufacturing mill Capital Star Steel SA (CSS), which is located in Matola.  

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... 

Pneumatics firm says new SA office will serve as African springboard

By: Dylan Slater     20th May 2016 Pneumatics technology company SMC Pneumatics launched its South African head office in Midrand on April 21, thereby extending its ability to service global markets. The company states that its new South African office will serve to expand the company’s future prospects of expansion into Africa. 

Polystyrene homes for North West orphans

By: Nadine James     20th May 2016 Nonprofit organisation Mobile Education and Training Trust (METT), in a joint venture (JV) partnership with polystyrene recyclers’ association Polystyrene Packaging Council (PSPC), is finalising construction of 75 housing units of 68 m2 each using polystyrene and cement-admixture panels to house... 

Smart vehicle brand relaunched in South Africa

By: Irma Venter     20th May 2016 The relaunch of the Smart brand in South Africa sees luxury car manufacturer Mercedes-Benz South Africa (MBSA) venture into some new territory – that of the entry-level buyer. “The new-look Smart will be a game-changer for us,” says MBSA co-CEO and MBSA Cars executive director Florian Seidler. 

South Africa’s economy at a crossroads, Sunter warns 

By: David Oliveira     20th May 2016 The Swiss-based International Institute of Management Development’s 2015 ‘World Competitiveness Report’ (WCR) ranked South Africa’s economy 53 out of 63, highlighting that the country’s economy remains a significant player in the global economy, said futurologist Clem Sunter during the 95-year... 

BMW SA starts construction of new bodyshop

By: Irma Venter     19th May 2016 BMW Group South Africa (SA) on Thursday marked the start of construction of a new bodyshop at its Rosslyn plant, in Tshwane. The group acquired a roughly 33 000 m2 site adjacent to the plant for the new building, said BMW Group SA plant director Stefan Huelsenberg at a sod-turning ceremony at the... 

Johannesburg’s City Power among big winners at African Utility Week awards

By: Kim Cloete     19th May 2016 Johannesburg’s City Power has scooped the award for Africa’s Power Utility of the Year, while the George Airport solar plant and Sierra Leone’s Kandeh Yumkella of the Sustainable Energy for All Initiative also won awards. Uganda’s National Water and Sewerage Corporation won the coveted Water... 

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