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Russia's VTB Capital aims to double gold sales to China in 2018

By: Reuters     21st November 2017 Russia's VTB Capital, one of Russia's biggest gold traders, aims to more than double sales of the precious metal to China next year, its global commodities chief said, after import curbs forced it to cut its target for this year. The investment banking unit of Russia's No.2 lender VTB, VTB... 

Business Leadership SA reveals business contribution of R1.9tn to GDP

By: African News Agency      20th November 2017 Business Leadership South Africa (BLSA) chief executive, Bonang Mohale, revealed on Monday that business contributed R1.9-trillion to the country’s GDP, employing seven times more people than government. “We are saying business is the answer, not the enemy. Business is going to play its goal... 

Outlook for vehicle market hinges on political landscape – bank

By: Irma Venter     17th November 2017 It is impossible to accurately forecast where the new-vehicle market will end the year, or what the 2018 market will look like, says Standard Bank Vehicle and Asset Finance (VAF) group head Simphiwe Nghona. “Everything hinges on the political landscape. Anything can happen in the last quarter.... 

Chubb to sell all its shares in South African business to empowerment consortium

By: Megan van Wyngaardt     16th November 2017 US-owned security company Chubb will sell 100% of its South African business to a black economic empowerment consortium led by Kilimanjaro Capital. The entity will then be rebranded. The move follows the passing of the Private Security Industry Regulation Amendment Bill, which proposes that... 

Standard Bank, ICBC launch programme to spur growth through tourism

By: Anine Kilian     15th November 2017 To further cement trade ties, boost investment flows and encourage tourism between South Africa and China, Standard Bank and the Industrial and Commercial Bank of China (ICBC) have launched the I Go South Africa loyalty programme in partnership with South African Tourism. This initiative, which... 

Afrimat starts trading on A2X, maintains primary listing on JSE

By: Megan van Wyngaardt     9th November 2017 South Africa’s newest stock exchange A2X Markets on Thursday gained its latest member, construction materials company Afrimat. The company joins African Rainbow Capital Investments, Peregrine Holdings and Coronation Fund Managers on the A2X roster, and will retain its primary listing on the main... 

Standard Bank creates R1.8bn debt funding model for South African agricultural sector

By: African News Agency      6th November 2017 Standard Bank on Monday announced the creation of a new R1.8-billion debt funding model for the South African agricultural sector. Standard Bank will go into partnership with agribusiness, Transvaal Wattle Growers Co-operative Limited (TWK), and the Land Bank. 

Politics muddying new-vehicle market forecasts

By: Irma Venter     24th October 2017 It is impossible to accurately forecast where the new-vehicle market will end the year, or what the 2018 market will look like, says Standard Bank Vehicle and Asset Finance (VAF) group head Simphiwe Nghona. “Everything hinges on the political landscape. Anything can happen in the last quarter.... 

Engen opens flagship site in Midrand

     23rd October 2017 The people of Kaalfontein are set to reap the benefits from the 24-hour services and new taxi rank on offer at the all new Engen Kaalfontein Convenience Centre.   Despite being operational for the past six months, the site was officially opened by the Gauteng MEC of Transport, Mr Ismail Vadi on... 

Engen Helderberg Convenience Centre is Open for Business

     11th October 2017 The people of Somerset West will benefit from the 24-hour services on offer at the all new Engen Helderberg Convenience Centre, which opened on 5 October 2017.   Engen Helderberg Convenience Centre is located on the corner of Sir Lowry Road and Schapenberg Road in Somerset West and offers... 

Bank of Baroda ordered to keep Gupta accounts open for now

By: News24Wire      9th October 2017 The high court ordered the Bank of Baroda on Monday to keep the accounts of Gupta-linked companies open, pending a final application which must be launched in 15 days. Pretoria high court judge Tati Makgoka granted the requested interdict against the bank, prohibiting the bank from deactivating... 

Unique financing needed for the township economy

By: Sydney Majoko     6th October 2017 One of the township economy's most crippling challenges is the lack of access to easily obtainable finance that is available at short notice. It is generally accepted that financial institutions will do proper due diligence investigations before giving their clients funds for their business... 

Digitalisation must be embraced by trucking industry

     25th August 2017 Digitalisation will rapidly transform the trucking industry in the near future, as it will force the industry to embrace this concept, or risk being unable to compete. This message was emphasised at this year’s fourth annual TruckX and FleetX conference and expo, which took place at the Kyalami... 

Think-tank hands over title deeds to residents of Western Cape town  

By: Ilan Solomons     11th August 2017 Think tank the Free Market Foundation’s (FMF’s) Khaya Lam land reform project last month handed over the latest batch of title deeds to residents in the town of Grabouw, in the Western Cape, thereby taking the project’s total title deed handover tally to 1 360. Khaya Lam project manager Perry... 

Chris Baloyi

     11th August 2017 This week we feature Chris Baloyi, MD of Bosch Capital, an advisory services, capital raising and investment company   

Merafe cuts net debt by 50% in H1

By: Natasha Odendaal     7th August 2017 JSE-listed Merafe Resources has ended the first six months of this year on a stronger financial basis after reducing its net debt by 49% to R207.8-million, from R409.3-million in the six months to December 2016. During the six months under review, Merafe continued to repay the bulk of its head... 

Liberty Two Degrees acquires additional shares in Liberty property portfolio

By: Samantha Herbst     26th July 2017 JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) will acquire additional undivided shares in properties co-owned by financial services company Liberty Holdings (Liberty) to the value of R2.51-billion, boosting L2D’s share in the Liberty property portfolio from 22% to 31%.... 

Transnet Freight Rail 1 064 locomotives acquisition programme

By: Sheila Barradas     21st July 2017 Transnet has reported progress regarding the delivery of the diesel and electric locomotives for the General Freight Business. 

Special deals, again?

By: Terence Creamer     14th July 2017 South Africans will no doubt remember the ugly 2008 standoff between Standard Bank and BHP Billiton over whether Eskom should, in the midst of power shortages, honour a favourable metal-price-linked electricity supply deal with the diversified miner’s aluminium smelters in South Africa and... 

Digital innovation, while necessary, comes with risks – Deloitte

By: Ilan Solomons     13th July 2017 While global competition has necessitated technological and digital innovation across all industries, there is legitimate concern globally that innovation could threaten job creation, particularly in traditionally labour-intensive sectors such as mining, manufacturing and agriculture, according... 

Singularity University to host inaugural African summit

By: Mia Breytenbach     7th July 2017 Singularity University, a global community leveraging exponential technologies to tackle the world’s key challenges, will host its first international SingularityU South Africa Summit from August 23 to 24 in Midrand, Gauteng.  The two-day summit will highlight the impact of artificial... 

Zinc, tin, nickel, platinum evoke most optimism at Junior Indaba 

By: Martin Creamer     8th June 2017 UK market intelligence firm CRU is most optimistic about the prospects for zinc, tin, nickel and, to a certain extent, platinum over a 12-month time horizon and named copper, bauxite, nickel and gold as good commodities to be in over the longer term. CRU principal consultant Ben Jones told the... 

Sibanye gets positive boost from ratings agencies

By: Megan van Wyngaardt     7th June 2017 JSE-listed platinum and gold miner Sibanye on Wednesday received a Ba2 rating from Moody’s Investors Service with a stable outlook and a B+ rating with a positive outlook from Standard & Poor’s (S&P’s) Global Ratings. In assigning the Ba2 corporate family rating to Sibanye, Moody’s noted that it... 

Gupta-owned Oakbay Resources loses JSE sponsor over associated risk

By: African News Agency      5th June 2017 Oakbay Resources and Energy, which is owned by the controversial Gupta family, on Monday lost its JSE sponsor, River Group, after being given notice of the termination of their appointment as sponsor. River Group is a JSE sponsor, designated adviser and international corporate finance boutique... 

Pressing 'refresh' in logistics

By: Creamer Media Reporter      29th May 2017 Imagine the value of 30-40% of cargo vehicles in a R500bn market returning empty? Can you imagine the savings if we could change this? And this is not just a South African problem, it’s a global issue. Where did it all start… Well… Approximately 2 years ago, Benji Coetzee, now Founder and CEO of... 

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,... 

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