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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... 

Gordhan's affidavit details R6.8bn in Gupta transactions reported as suspicious

By: Reuters     17th October 2016 South African Finance Minister Pravin Gordhan has revealed in a court affidavit distributed by the National Treasury on Sunday that R6.8-billion ($490-million) in payments made by wealthy brothers Ajay, Atul and Rajesh Gupta, companies they control, and other individuals with the same surname... 

South Africa's credit rating in jeopardy over Gordhan prosecution

By: Reuters     12th October 2016 South African prosecutors could not have announced plans to charge Finance Minister Pravin Gordhan for fraud at a worse time: two weeks before he is due to outline plans to kick-start the economy and avert possible credit rating cuts to "junk". The rand plunged nearly 4 percent on Tuesday on news... 

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... 

MTN again tops the list of South Africa’s most valuable brands

By: Megan van Wyngaardt     15th September 2016 Despite losing 32% of its brand value owing to reputational challenges, communications giant MTN, which is worth R37-billion, has remained the most valuable brand in the country, according to Brand South Africa and strategy consultancy Brand Finance’s yearly survey. Retailer Woolworths, ranked at... 

South Africa’s major banks post solid H1 results despite

By: Anine Kilian     14th September 2016 South Africa’s major banking groups, which include Barclays Africa, FirstRand Bank, Nedbank and Standard Bank, have produced a credible set of results for the first half of 2016 despite a challenging operating landscape, both globally and locally. Although there were some differences in the... 

Gordhan met Gupta-owned Oakbay on banks 4 months ago 

By: News24Wire      9th September 2016 Finance Minister Pravin Gordhan admitted meeting with Oakbay Investments in May this year. In a parliamentary question posed by the Democratic Alliance’s (DA's) David Maynier, Gordhan said he had met with Nazeem Howa, CEO of Oakbay Investments on 24 May. He was accompanied by National Treasury... 

Telematics to bring financial advantages to fleet managers

     2nd September 2016 The world of trucking fleets is changing as transport owners turn to telematics to reduce costs in an industry where overheads are rising and profit margins are being squeezed, financial services provider Standard Bank vehicle and asset finance executive head Toni Fritz reports.  

Industrial symbiosis key to growth in recycling and manufacturing sectors

By: Simon Sonnekus     30th August 2016 The Industrial Symbiosis (IS) Programme delivered by the National Cleaner Production Centre of South Africa (NCPC-SA) at the Council for Scientific and Industrial Research (CSIR) campus has proven to be important in the creation of several synergies that are providing effective recycling... 

SAA's R16bn loan appeal more proof for business rescue – DA 

By: News24Wire      29th August 2016 South African Airways’ (SAA) advert for a tender of R16-billion indicates the desperate financial position the airline is in and it should therefore be placed under business rescue, the Democratic Alliance (DA) said on Monday. The cash-strapped national carrier has turned to banking and... 

eHomeAffairs portal now available to all South African citizens  

By: Anine Kilian     24th August 2016 The Department of Home Affairs (DHA) has officially opened its eHomeAffairs portal to the public at large, enabling all South African citizens to apply for their Smart ID cards and passports online. DHA initially launched the portal in April, inviting citizens between the ages of 30 and 35 to be... 

Liberty eyes year-end listing on JSE for property portfolio

By: Creamer Media Reporter      23rd August 2016 Financial services company Liberty Holdings plans to list part of its property portfolio as a real estate investment trust (Reit) to be called Liberty Two Degrees, with an expected net asset value of R10-billion, on the Johannesburg bourse by the end of the year. The listing of Liberty’s property... 

July new-vehicle sales show ‘dramatic’ slump

By: Irma Venter     19th August 2016 New-vehicle sales “slumped dramatically” in July, serving as a reflection of the “current difficult economic conditions” in the country, says National Association of Automobile Manufacturers of South Africa (Naamsa). Statistics released by the Department of Trade and Industry show that sales... 

Transnet Freight Rail 1 064 locomotives acquisition programme, South Africa

By: Sheila Barradas     19th August 2016 One-hundred-and-forty-eight locomotives will be delivered in 2016. 

Amakhala Emoyeni wind energy facility, South Africa

By: Mariaan Webb     5th August 2016 The project has achieved commercial operation. 

Merafe expects to benefit from brighter demand prospects for ferrochrome

By: Creamer Media Reporter      1st August 2016 JSE-listed Merafe Resources expects to benefit from renewed positive ferrochrome demand trends, as well as from the fact that only four of seven South African ferrochrome producers are currently in production. Reporting on its results for the six months ended June 30, the company, which generates... 

New-vehicle sales down 17% from July last year

By: Irma Venter     1st August 2016 New-vehicle sales “slumped dramatically” in July, serving as a reflection of the “current difficult economic conditions” in the country, said National Association of Automobile Manufacturers of South Africa (Naamsa) on Monday. Statistics released by the Department of Trade and Industry showed... 

ECIC plays a pivotal role in Sub-Saharan Africa with 15 years of Project Export Excellence

     29th July 2016 The creation of ECIC began 15 years ago, in July 2001, when the Export Credit Insurance Corporation of South Africa LTD (ECIC), was given a mandate of filling a market gap through provision of medium to long term export credit and investment guarantees by underwriting bank loans for political and... 

Khonology talent on the rise

     28th July 2016 Khonology has announced that Dapo Adeyemo has been awarded the Standard Bank Rising Star Award in the Professional Services category. The awards publicly recognise inspirational and passionate individuals in South Africa who have a capacity for achievement and success. The Rising Star programme... 

Stanbic receives Côte d’Ivoire banking licence

By: Anine Kilian     25th July 2016 Standard Bank, trading as Stanbic Bank, has been awarded a banking licence in Côte d’Ivoire.  The group opened a representative office in the country in December 2013, signaling a drive towards establishing a presence in Francophone West Africa. 

SOLAS amendment to increase safety – and cost – of transporting goods by se

     25th July 2016 The International Maritime Organisation has amended the Safety of Life at Sea Convention (SOLAS). The convention seeks to promote safety when transporting goods at sea. The amendments which came into effect on 1 July 2016 apply globally.    The new regulation applies to all packed containers to... 

Despite the economic challenges, opportunities for commercial property growth are being unlocked with innovative financing solutions

     14th July 2016 Gaining traction as a small business is not easy in today’s volatile economic climate. So when a long-standing Standard Bank client in the small mining town of Burgersfort approached the bank for urgent assistance in building a new Toyota dealership, it was a matter of quickly assessing the... 

Standard Bank keen to participate in South Africa’s gas-to-power programme

By: Terence Creamer     8th July 2016 Leading South African financial institution Standard Bank has confirmed that it is keen to participate in the funding of South Africa’s gas-to-power (GTP) programme and that it is eagerly awaiting the release of the project information memorandum, outlining government’s preferred procurement... 

Standard Bank recognised at 2016 Euromoney Awards for Excellence

     7th July 2016 Standard Bank has been recognised as Africa’s Best Bank for Markets and Africa’s Best Bank for Wealth Management at the 2016 Euromoney Awards for Excellence, in London. In addition, Euromoney also named Standard Bank as the Best Bank in Uganda, (Stanbic Uganda) and in Zambia, (Stanbic Zambia).... 

Rising truck hijacking statistics remain a major concern

By: Anine Kilian     4th July 2016 Truck hijackings remain a concern for the transport industry as criminals have become so sophisticated that they are using signal jammers, diversion tactics, infiltration teams and even planted employees to reach the truck’s assets. They had also become more professional in terms of the tactics... 

Finalists Announced for 5th annual Standard Bank Rising Star Awards

     28th June 2016 After receiving hundreds of entries and going through thousands of pages of nominations, motivations and verifications, the finalists for the 5th Annual Standard Bank Rising Star Awards have been announced! Over the past four years, these awards have been identifying, recognising and celebrating... 

Finalists Announced for 5th annual Standard Bank Rising Star Awards

     24th June 2016 After receiving hundreds of entries and going through thousands of pages of nominations, motivations and verifications, the finalists for the 5th Annual Standard Bank Rising Star Awards have been announced! Over the past four years, these awards have been identifying, recognising and celebrating... 

Chevron South Africa and Caltex with Techron® growing innovations within the fuel segment

     23rd June 2016 Ever conscious of the needs of motorists, the Caltex™ brand has reformulated its signature additive package with the addition of new Clean & Glide Technology™.   The new active ingredients are specifically formulated to clean and protect metal surfaces within the engine. This formulation is at... 

Rightsizing of African power projects will enable faster development

By: Liezille Vermeulen     22nd June 2016 The combination of a challenging business environment, liquidity constraints as well as a limited number of financially credible off-takers in many jurisdictions indicates that there may be a need for right-sizing some of Africa’s planned power projects 

Africa uniquely placed to develop a diverse and sustainable energy mix

     22nd June 2016 Africa is uniquely placed to build a sustainable, renewable energy matrix with immense potential, says Rentia van Tonder, Head: Power at Standard Bank.  “However, how quickly, efficiently and at what cost the continent builds this energy infrastructure will be influenced by sovereign wealth,... 

Peter Ireland

     17th June 2016 This week we feature Peter Andrew Ireland, CEO of Ithala SOC, a retail banking organisation 

PPC outlines plan for immediate liquidity squeeze as it works on rights issue 

By: Terence Creamer     14th June 2016 Embattled cement producer PPC is finalising a R3-billion to R4-billion capital raising plan in parallel with urgent efforts to bed down a R2-billion bridging guarantee facility to settle outstanding obligations to bondholders that come due on June 23. The JSE-listed group is facing serious... 

Bankmed chooses Melrose Arch for its new headquarters

     3rd June 2016 Melrose Arch, South Africa’s most sought-after business address, has welcomed leading, closed medical scheme, Bankmed to its high-profile precinct. Joining DuPont, Bidvest Group, Lonmin, Mastercard, Royal Bafokeng Holdings, Stanlib and Worley Parsons, Bankmed adds to the long list of corporate... 

Nedbank scoops African Retail Bank of the year award

     1st June 2016 Nedbank has been awarded the African Retail Bank of the year award at the 2016 Retail Banking Global Conference and Awards, held in London on 19 May. Nedbank emerged the winner among Ecobank, Standard Bank and Guaranty Trust who were shortlisted in the African Retail Bank of the year category.... 

African Infrastructure Leaders Discuss Innovation in Gauteng

     16th May 2016 Top-level executives and heads from Africa’s leading infrastructure and construction companies and institutions met to discuss strategies to foster industrialisation at a special event held in Johannesburg. The Captains of Construction annual leadership forum included delegates and special... 

Ministers did meet with banks over Guptas, concedes Oliphant

By: News24Wire      11th May 2016 Labour Minister Mildred Oliphant conceded on Tuesday that a meeting between cabinet ministers and South Africa’s four banks had taken place. However, she didn’t want to provide further details, as the ministers were still to report back to cabinet on what had transpired. Oliphant responded to a... 

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