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Standard Bank provides $120m debt package to increase energy supply in Zimbabwe

By: Anine Kilian     16th May 2017 Standard Bank has finalised a $120-million debt package with Zimbabwe Power Company (ZPC) for the rehabilitation of existing power infrastructure at the Kariba South hydropower station and the Hwange thermal power station. The transaction is a continuation of a previous funding arrangement with... 

Alphamin appoints Swanepoel, Baloyi to board; starts mine boxcut construction

By: Megan van Wyngaardt     20th April 2017 TSX-listed Alphamin Resources, which is developing the Bisie tin project, in the Democratic Republic of Congo, has appointed Bernard Swanepoel and Paul Baloyi to its board. Swanepoel currently also serves on the boards of miners Impala Platinum, Zimplats, eXtract Limited, African Rainbow Minerals... 

Dredging of Port of Maputo access channel completed

By: Irma Venter     14th April 2017 The dredging of the access channel to the Port of Maputo from 11 m to up 14.4 m (chart datum) has been completed. “Those three additional metres allow us to affirm, with pride, that we are a port prepared to receive Capesize ships,” says Maputo Port Development Company (MPDC) CEO Osório Lucas. 

Pan African capital raise puts gold project on fast track  

By: Martin Creamer     13th April 2017 Midtier gold mining company Pan African Resources has successfully raised R705-million in a share placing, the net proceeds of which will be used, together with a R1-billion seven-year debt facility, to fast-track the high-return Elikhulu gold tailings project in Mpumalanga. Pan African CEO Cobus... 

Pan African outlines funding package for gold project

By: Martin Creamer     12th April 2017 The announcement by midtier gold mining company Pan African Resources of a mixed placement-and-debt funding package for its R1.7-billion Elikhulu gold tailings project was followed by a surprising fall in the company's share price. The funding package is aimed at fast-tracking the development of... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

Nonhedging farmers to lose thousands of rands per maize ton, says Standard Bank

By: Creamer Media Reporter      6th April 2017 Maize producers are likely to lose up to R1 860/t , offsetting the third-largest production season on record, as 60% of producers chose not to hedge their prices and lost gains when grain prices reversed, says Standard Bank. It is expected maize production will rise to 14.32 million tons this year. 

Barloworld launches incubation hub to assist SMMEs

By: David Oliveira     31st March 2017 JSE-listed Barloworld launched the Barloworld Siyakhula Incubation Hub at its Barlow Park head office in Sandton, Johannesburg, earlier this month to assist small business suppliers and companies operating in its value chain in overcoming challenges, including market access, finance and skills... 

Oakbay/Gordhan debacle a settled issue in law – Guptas lawyer

By: African News Agency      29th March 2017 Oakbay Investments on Wednesday told the high court in Pretoria that there was no need for Finance Minister Pravin Gordhan to seek a declaratory order relating to the Gupta-owned entity’s wrangle with South Africa’s major banks. “The Supreme Court of Appeal held that even a court does not have... 

Gupta entity wanted Gordhan’s ‘unlawful’ intervention

By: African News Agency      29th March 2017 Oakbay Investments, owned by the controversial Gupta family, sought Finance Minister Pravin Gordhan to intervene illegally in its dispute with top South African banks, the High Court in Pretoria heard on Wednesday. Advocate Vincent Maleka, representing Standard Bank, told a full bench of judges... 

Presidency explains Zuma involvement in Pravin court matter

By: African News Agency      29th March 2017 The Presidency on Wednesday moved to explain why President Jacob Zuma’s lawyers were present at the high court in a matter in which finance minister, Pravin Gordhan, is seeking a declaration that he has no legal right to intervene in matters between banks and their clients. In a statement the... 

Zuma court move in Gupta matter fails

By: News24Wire      28th March 2017 President Jacob Zuma’s legal representatives declined to join proceedings in the matter between Finance Minister Pravin Gordhan and Gupta-owned Oakbay Investments. On Monday Zuma entered the case, which involves 14 companies owned by the Guptas, National Treasury, the Reserve Bank governor, the... 

EIUG supports Eskom plan for new pricing deals with power-intensive firms 

By: Terence Creamer     22nd March 2017 The Energy Intensive User Group of Southern Africa (EIUG) believes there is policy, legislative and regulatory space to introduce new electricity pricing arrangements to help restart of idle mining and process-industry activities, as well as encourage new investments to absorb Eskom’s surplus,... 

Barloworld launches incubation hub to assist in SMME development

By: David Oliveira     14th March 2017 JSE-listed Barloworld on Tuesday launched the Siyakhula Incubation Hub at its Johannesburg offices to assist suppliers and other companies operating in its value chain to overcome challenges such as market access, finance and skills that tend to impact on small, medium-sized and microenterprises... 

Strong outlook for recovering ferrochrome industry – Merafe

By: Martin Creamer     8th March 2017 Ferrochrome and chrome ore prices recovered from rock bottom in the first quarter of last year to levels twice and four times higher respectively in 2017, a year in which a shortage of electricity supply has ceased to be a constraining factor, ferrochrome company Merafe reports. Despite market... 

Musical chairs in the SA automotive industry

By: Irma Venter     3rd March 2017 South Africa’s automotive industry has seen a number of shake-ups in the first two months of the year. WesBank has announced the appointment of Mark Finlayson as the CEO of its Motor division following the departure of Simphiwe Nghona on February 1. 

Challenges loom in agricultural sector

By: Anine Kilian     1st March 2017 The National Development Plan identifies the agricultural and agroprocessing sectors as drivers of growth, job creation and increased exports, as well as being key for the growth of small, medium-sized and microenterprises. However, it also identifies a number of obstacles that could potentially... 

Port of Maputo entrance channel dredge completed

By: Irma Venter     1st March 2017 The dredging of the access channel to the Port of Maputo from 11 m to up 14.4 m (chart datum) has been completed. “Those three additional metres allow us to affirm, with pride, that we are a port prepared to receive Capesize ships,” says Maputo Port Development Company (MPDC) CEO Osório Lucas. 

Keeping up with technology trends imperative for efficiency

By: Marleny Arnoldi     24th February 2017 With the growing woes of electricity costs in South Africa, engineering professional services consulting firm WSP | Parsons Brinckerhoff believes that it is imperative to keep up with air-conditioning technology trends that promote energy efficiency and ease of maintenance. 

Standard Bank appoints former WesBank SA Vehicle and Finance Executive Head to Group Head VAF position

     16th February 2017 Standard Bank today announced the appointment of Simphiwe Nghona as Group Head for Vehicle and Asset Finance, effective 01 March 2017.  Mr Nghona will also join the Standard Bank Personal and Business Banking Group Executive Committee.   Having worked most recently as CEO of the Motor Division... 

Standard Bank appoints new vehicle and asset finance head

By: Megan van Wyngaardt     16th February 2017 Standard Bank has appointed Simphiwe Nghona as its Vehicle and Asset Finance (VAF) head, effective March 1. He will also join the bank’s Personal and Business Banking (PBB) group executive committee. Having worked most recently as CEO of WesBank’s motor division, Nghona brings 18 years of... 

Emira rebalancing its diversified portfolio

By: Anine Kilian     15th February 2017 The first half of JSE-listed real estate investment trust (Reit) Emira Property Fund’s 2017 financial year was defined by an intense strategic focus on rebalancing its portfolio out of the office sector, aggressive leasing and tenant retention, vigilant cost control, prudent financial management... 

Commission asks tribunal to fine banks over alleged collusion

By: Megan van Wyngaardt     15th February 2017 The Competition Commission on Wednesday referred a case of collusion against a number of international banks for alleged price fixing to the Competition Tribunal for prosecution. This follows an investigation into a case of price fixing and market allocation in the trading of foreign currency... 

Stillwater deal advances as Sibanye grasps $2.6bn bridge finance nettle

By: Martin Creamer     13th February 2017 Precious metals mining company Sibanye on Monday announced that it had successfully closed the syndication of the bridge facilities to support its acquisition of Stillwater Mining Company of the US. Sibanye said in a Johannesburg Stock Exchange news service announcement that the syndication... 

Guptas respond to Gordhan’s affidavit

By: African News Agency      31st January 2017 Finance Minister Pravin Gordhan on Monday, denied the claim by the Gupta family’s Oakbay Investments that he had colluded with banks to harm the company, saying the banks acted because of the company’s ties with “politically exposed” figures. Gordhan, in his replying affidavit to papers submitted... 

Bank upbeat about mining sector in 2017, predicts steady commodity price uptick 

By: Ilan Solomons     30th January 2017 Given that the global economy is expected to grow by 3.4% this year and 3.5% in 2018, the health of global macroeconomics is good, which bodes well for a resurgence in the global mining industry during the course of this year. This is according to Standard Bank mining and metals research head Tim... 

Legislation to unlock South Africa’s unrealised gas potential Gas offers game-changing opportunity to reinvent growth 

     27th January 2017 “South Africa presents a strong case for the development of an integrated gas industry - covering the exploration, production and beneficiation of gas - with huge potential for energy supply diversification, broader industrialisation and job creation,” says Khwezi Tiya, Head, Oil and Gas South... 

Transnet Freight Rail 1 064 locomotives acquisition programme, South Africa

By: Sheila Barradas     13th January 2017 Transnet has reported progress regarding the delivery of the diesel and electric locomotives for the General Freight Business. 

Transnet Freight Rail 1 064 locomotives acquisition programme, South Africa

By: Sheila Barradas     2nd December 2016 Transnet has reported progress regarding delivery of the diesel and electric locomotives for the General Freight Business. 

Debt capital markets in Africa remain resilient, says Standard Bank

By: Megan van Wyngaardt     1st December 2016 A review of the continent’s activity in debt capital markets by financial services provider Standard Bank reveals continued growth in issuance, including the evolution of new asset classes, which speak well to both the resilience and future growth prospects of Africa’s debt capital markets. Debt... 

Ratings decision vindicates govt, labour and business efforts – CEOs 

By: News24Wire      28th November 2016 The decision by Fitch to retain South Africa’s sovereign credit rating at its current level – although with a rating outlook change – is a vindication of the efforts by government, labour and business over the past year to negotiate and undertake structural reforms to drive faster, more... 

Liberty Two Degrees confirms December JSE listing plans

By: Megan van Wyngaardt     15th November 2016 Real estate investment trust (Reit) Liberty Two Degrees plans to list on the Diversified Real Estate Investment Trust sector of the main board of the JSE in early December, subject to market conditions and approval by the JSE. Financial services company Liberty Holdings in August announced that... 

Investing in climate resilience will be key to improving prospects for drought-prone farming sector

By: Mia Breytenbach     28th October 2016 With several weather institutions expressing cautious optimism that South Africa could receive normal, or even above-normal, rainfall towards mid-summer – that is between December and January – there is a degree of optimism that the embattled local agriculture sector could rebound in 2017. In... 

Investing in climate resilience will be key to improving prospects for drought-prone farming sector

By: Mia Breytenbach     28th October 2016 With several weather institutions expressing cautious optimism that South Africa could receive normal, or even above-normal, rainfall towards mid-summer – that is between December and January – there is a degree of optimism that the embattled local agriculture sector could rebound in 2017. In... 

BLSA appoints Mabuza as chair as it unveils new leaders

By: Creamer Media Reporter      21st October 2016 Business Leadership South Africa (BLSA) has announced the appointment of Telkom’s Jabu Mabuza as its new chairperson and Shell South Africa’s Bonang Mohale as its deputy chairperson after a council meeting, which also approved a new board of directors for the big business grouping. Mabuza and... 

Guptas list why Gordhan's application is fundamentally flawed

By: News24Wire      18th October 2016 The Guptas said Finance Minister Pravin Gordhan’s court application is fundamentally flawed and will assist them in clearing their name, their lawyer said in a statement on Tuesday. “We are delighted to have received this application,” the Guptas’ lawyer Van Der Merwe Associates said on behalf of... 

Jobs growth in manufacturing hits 17-month high

By: News24Wire      5th October 2016 The latest Standard Bank purchasing managers' index rose from 49.8 in August to 50.7 in September, with employment growth at the highest level in 17 months. Standard Bank said on Wednesday its PMI rose from 49.8 in August to 50.7 in September, also a 17-month high. 

Kibo appoints Absa as Mbeya Project’s financial adviser

By: African News Agency      22nd September 2016 Kibo Mining on Thursday said it had signed an advisory engagement letter with Absa Bank laying out the scope of work and terms under which it will act as financial advisor on the Mbeya Coal to Power Project (MCPP). Kibo is developing a 250 MW to 350 MW mouth-of-mine thermal power station in its... 

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