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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. 

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... 

Standard Bank in talks with Competition Commission in rand-rigging probe

By: Reuters     23rd February 2017 South Africa's Standard Bank said on Thursday it was engaging with the Competition Commission about an investigation into alleged rigging of rand currency trading and had not suspended any employees to date. "Pending the outcome of these engagements and in the light of these historic allegations... 

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     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... 

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... 

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