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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... 

Transport sector under financial strain as costs surge

By: Irma Venter     6th May 2016 A 30c/l increase in the fuel levy, another rise in interest rates and new consignor/consignee legislation will all load more costs onto a transport industry that is already struggling to remain profitable, says Standard Bank business vehicle and asset finance head Toni Fritz. Operators competing... 

Emira expands its retail footprint and upgrades its centres

     5th May 2016 Emira Property Fund continues to grow value in its retail property portfolio, investing over R250 million in acquiring new centres and upgrading its shopping centres. The leading JSE-listed REIT (real estate investment trust) is already reaping the rewards of its investment in retail properties... 

Off-grid solutions becoming an important consideration in the power sector

     28th April 2016 South Africa is currently one of the most attractive destinations for power project developers, sponsors and energy players seeking investment opportunities to support and grow power projects.  One of the key drivers for any power sector player remains an enabling environment with long term... 

Home Affairs aspires to expand e-services, online document applications

By: Mia Breytenbach     22nd April 2016 While the new service of applying online for SmartID cards and passports through the eHome Affairs portal and at major banks in Gauteng will initially cater for people aged between 30 and 35, the Department of Home Affairs (DHA) hopes to extend the system to other age categories and more centres... 

Govt to intervene as Oakbay attempts to restore bank accounts

By: Natasha Odendaal     21st April 2016 Minister in the Presidency for Planning, Monitoring and Evaluation Jeff Radebe has insisted that, despite the appointment of three Ministers to engage the banks that cut ties with private Gupta-linked Oakbay Investments amid allegations of State capture, government was not interfering in matters... 

Guptas' staff appeal to banks to save their Oakbay jobs 

By: News24Wire      20th April 2016 About 7 500 employees at Oakbay Investments will lose their jobs at the end of May if the Gupta-owned company’s bank accounts remain closed, staff at the company wrote in an open letter to banks on Wednesday. In a letter addressed to Barclays Africa CEO Maria Ramos, FNB CEO Jacques Celliers,... 

Standard Bank and Vumatel accelerate delivery of high-speed fibre to South African suburbs

     19th April 2016 Standard Bank and Vumatel have signed a significant finance deal on 19 April 2016, which will provide Vumatel with the financial resources required to speed-up the delivery of broadband internet services and expand into new markets within South Africa.  The deal, likely to be one of the largest... 

Standard Bank, Vumatel accelerate delivery of high-speed fibre

By: Creamer Media Reporter      19th April 2016 Telecommunications firm Vumatel on Tuesday signed a “significant” finance deal with Standard Bank, giving it the financial resources to speed up the delivery of broadband Internet services and expand into new markets within South Africa.  Standard Bank was the lead financier of Vumatel’s bid to... 

Banks obliged to ensure that clients abide by the law, says Basa

By: Samantha Herbst     14th April 2016 In an attempt to clarify ongoing speculation following Standard Bank and Nedbank’s move last week to sever ties with the Gupta-linked Oakbay Resources, the Banking Association of South Africa (Basa) on Thursday released a statement to account for the regulatory considerations that all banks... 

Thousands apply for IDs and passports online – Home Affairs

By: African News Agency      14th April 2016 Thousands of people have applied for smart ID cards and passports online, following the inception of the eHomeAffairs portal in conjunction with major banks, Home Affairs director-general Mkuseli Apleni said on Wednesday. “Since the inception of eHomeAffairs last week, 4,088 citizens have... 

Cost increases set to delay new truck acquisitions

By: Irma Venter     8th April 2016 A 30c/l increase in the fuel levy, another rise in interest rates and new consignor/consignee legislation will all load more costs onto a transport industry that is already struggling to remain profitable, says Standard Bank business vehicle and asset finance head Toni Fritz. Operators competing... 

Zim probes Rio Tinto’s Murowa share disposal

By: News24Wire      8th April 2016 Zimbabwe is probing Rio Tinto’s disposal of its stake in two mines in Zimbabwe, charging that disposed shares were held offshore, hence the justification to investigate them and determine if due procedure was followed. Rio Tinto disposed of its 78% stake in the Murowa diamond mine and also sold... 

SA govt launches online service for SmartID, passport application 

By: Mia Breytenbach     7th April 2016 The South African government, in collaboration with the South African banking sector, on Thursday launched the Department of Home Affairs- (DHA-) facilitated eChannel pilot project, enabling South African citizens to apply for passports or SmartID cards online. The collaboration was facilitated... 

The Mozambique Mining, Oil and Gas and Energy 2016 event gains momentum

     4th April 2016 Interest in the fifth bi-annual international strategic conference on Mozambique Mining, Oil & Gas, and Energy sector (MMEC) is growing at a rapid rate.  

SA is Africa's hub of private banking – report

By: News24Wire      21st March 2016 South Africa is the hub of private banking in Africa with holdings worth about $72bn, according to a recent report. A Research and Markets report entitled The Africa 2016 Wealth Report identifies South Africa - mainly Johannesburg - as the continent's biggest centre for private banking. The... 

Amakhala Emoyeni wind energy facility, South Africa

By: Sheila Barradas     18th March 2016 Lifting, transporting, installing and ballasting solutions provider ALE has completed the delivery of 560 wind-turbine generator components for the Amakhala Emoyeni project. 

Chris Hart: Nothing can prevent SA's slide to junk  

By: News24Wire      16th March 2016 South Africa needs to be an extremely favourable investment destination if it wants to rescue the ailing economy and prevent it from reaching junk status, according to Chris Hart. A downgrade is likely on the cards for South Africa, said Hart, who was embroiled in a Twitter row and subsequently... 

Chris Hart breaks his silence on controversial tweet

By: News24Wire      16th March 2016 Chris Hart has responded in 10 tweets following his resignation from Standard Bank amid a disciplinary hearing against him over a tweet deemed to be racist. Standard Bank said in an emailed response to Fin24 that Hart resigned as an Investment Strategist at Standard Bank Wealth and Investment. 

Africa M&A remains buoyant, says Standard Bank

By: Anine Kilian     11th March 2016 Africa’s mergers and acquisitions (M&A) landscape remains buoyant, says Standard Bank, which expects to see more opportunities than ever before in 2016.   The bank noted this week that global M&A activity had been very high in 2015, almost eclipsing the previous record levels set in 2007. The... 

Hedging policies important for business

By: Anine Kilian     3rd March 2016 A major challenge hedge fund managers face when working with clients is that people believe they can predict what the currency forecast would be, which is difficult owing to the unpredictability of exchange rates, Standard Bank Foreign Exchange and Money Market sales manager Eric Freemantle said... 

Green Building Council confirms its leaders and grows its board

     1st March 2016 Green Building Council South Africa, which promotes green building development in the country, has re-elected Seana Nkhahle as its non-executive chairman and Rudolf Pienaar as non-executive deputy chairman for a second term. They will continue as key role-players on the board of one of the most... 

Uniting against junk

By: Terence Creamer     19th February 2016 Staving off a downgrade to junk has emerged as the undisputed priority for government ahead of the 2016 Budget. There is, at last, an acute appreciation that the country’s serious loss of institutional credibility – following the calamitous events of December, together with a material slippage in... 

4th Annual Renewables & Energy Forum Southern Africa Conference

     9th February 2016 DLO Energy Resources Events (Pty) Ltd presents the 4TH annual Renewables and Energy Forum Southern Africa Conferencetaking place on the 10th and 11th of May 2016 at the Johannesburg Stock Exchange in Sandton. The REFSA Conference is one of the leading energy events in South Africa attracting... 

Busy new Tugela Ferry Mall and Jozini Shopping Centre in KZN secure more top retailers

     2nd February 2016 The new multi-million rand Tugela Ferry Mall and Jozini Shopping Centre in rural KwaZulu-Natal has been trading very well since opening and both have had an excellent festive season. That’s the word from Gavin Tagg, CEO of Retail Network Services - the leading full-service specialist retail... 

Sibanye concludes WCC due diligence, revised term sheet expected

By: Natasha Odendaal     2nd February 2016 A revised term sheet for Sibanye Gold’s proposed refinancing of Waterberg Coal Company (WCC) is expected to emerge after the gold producer completed its legal, technical and financial due diligence. WCC on Tuesday said in a quarterly update that Sibanye remained “desirous” of the deal; however,... 

Agribusinesses becomes more attractive investment asset class 

By: Tracy Hancock     28th January 2016 Agriculture was becoming a preferred investment destination, said financial services group Standard Bank secondary agriculture senior manager Bertie Hamman this week. “By investing in agriculture, you lay the cornerstone of all economic and social upliftment initiatives by helping to ensure that... 

Wits, Unilever to pioneer practical work training for engineering students

By: Creamer Media Reporter      28th January 2016 In the first corporate-academic partnership of its kind, consumer goods manufacturer Unilever South Africa and Wits, have announced a collaborative skills development programme that aims to provide promising engineering students with practical work experience and a premium academic qualification. 

South Africa dare not miss Fourth Industrial Revolution 

By: African News Agency      20th January 2016 The Fourth Industrial Revolution is a fast train coming through town. South Africa can choose to jump on board or not, or – in the words of Nicky Newton-King, CE of the JSE – co-create the future, or let it happen around us. Newton-King was part of a panel of leading South African businesspeople... 

Namibia’s million dollar gas-power plant project going full-steam ahead 

By: African News Agency      14th January 2016 The million-dollar project to develop a 250 MW gas-fired power plant in Namibia’s Walvis Bay is ready to continue as originally envisaged, contractor Xaris Energy announced on Thursday. This is after negotiations between Xaris, NamPower and the project financiers under the leadership of Standard... 

De Beers: Kimberley Mines sale won't result in lay-offs

By: News24Wire      6th January 2016 De Beers Consolidated Mines has held “numerous” meetings with the National Union of Mineworkers (NUM) about the fate of Kimberley Mines, De Beers spokesperson Tom Tweedy said on Wednesday. This follows NUM’s claim on Tuesday that it had not been consulted on the sale of the mine to Ekapa... 

Waterberg requests extension of ASX share suspension

By: Natalie Greve     18th December 2015 JSE-listed The Waterberg Coal Company has made a request to the ASX for an extension to its current voluntary suspension in the trading of its securities, which expires prior to the start of trade on December 21. This would, it outlined in a statement on Friday, allow it time to finalise a... 

R3bn Mozambique power station commissioned

By: Natalie Greve     14th December 2015 Following the successful completion of acceptance tests for its 120-MW gas-fired power plant on December 10, independent power producer Gigawatt Mozambique reports that it has successfully commissioned its power station at Ressano Garcia, on the border of South Africa and Mozambique.   Financing... 

Lonmin rights issue undersubscribed

By: Natalie Greve     11th December 2015 Dual-listed Lonmin’s shares were trading lower on the JSE and LSE on Friday morning, after it announced that its $407-million rights issue had been undersubscribed. The platinum miner had received valid acceptances in respect of 19.15-billion new shares, representing 70.93% of the total number of... 

Bank’s IPP projects producing over 40% of connected renewables

By: Dylan Stewart     11th December 2015 Renewable-energy independent power producer (IPP) projects financed by South African commercial banking firm Standard Bank are producing more than 40% of the 1 760 MW currently provided by the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). 

Markets react aggressively to Nene axing 

By: News24Wire      10th December 2015 Local and international markets have reacted aggressively to the axing of the "capable Finance Minister" Nhlanhla Nene, according to TreasuryOne. International markets have displayed their disapproval as the rand lost 80 cents against the dollar, 90c against the euro and 110c against the pound,... 

Standard Bank, ICBC to raise R10bn for South African power projects

By: Creamer Media Reporter      4th December 2015 South Africa’s Standard Bank and the Industrial and Commercial Bank of China (ICBC) have signed a collaboration agreement to raise up to R10-billion over the coming five years to support South African power generation developments. 

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