R/€ = 16.45 Change: -0.04
R/$ = 13.88 Change: 0.10
Au 1291.52 $/oz Change: 0.56
Pt 935.50 $/oz Change: -3.50


Mnangagwa's task: Rebuild Zimbabwe economy from ground up

By: Bloomberg     Updated 31 minutes ago When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s President on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right. Among Mnangagwa’s key challenges will be to revive an... 

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

Rhodes Food's FY17 performance dragged by international operations

By: Natasha Odendaal     21st November 2017 The headline earnings of JSE-listed Rhodes Food declined by 19.1% to R237-million for the financial year ended October 1, as regional gains were offset by a disappointing international performance. Diluted headline earnings a share decreased by 27% to 93.4c for the year under review, with... 

Upat supplies best professional power-tool brand in the world

     20th November 2017 The most reliable and resilient professional power tools available on the market today are supplied locally by leading distributor Upat of Johannesburg. Established in 1924 in the US, Milwaukee is arguably the best power-tool brand in the world, according to Upat Product Specialist Werner Koch.... 

Legislation, infrastructure crucial for electromobility to thrive in South Africa

     17th November 2017 Tim Abbott contends that, with favourable legislation and the requisite infrastructure, South Africa's burgeoning electric-vehicle market will thrive There is no doubt that the long-term future of automotive mobility includes electric vehicles (EVs). In 2016, nearly 774 000 EVs and plug-in hybrid... 

Investment in solar has overtaken coal globally, says IEA

By: Kim Cloete     16th November 2017 Breaking all-time records, renewables currently account for two thirds of global net capacity additions, according to one of several reports about how renewable energy is powering ahead. The trend is set to continue. “All renewables will grow at double the velocity of fossil fuels within the next... 

EM poised to take advantage of renewed growth opportunities in 2018

     16th November 2017 ElectroMechanica’s (EM’s) significant investment in its internal processes in 2017 will stand it in good stead to reap the benefits of renewed growth in the New Year, EM Sales and Marketing Director Richard Nobbs comments. Describing 2017 as a year of “real development and structural change,”... 

Paragon scoops four awards at Best Projects 2017

     13th November 2017 Leading architecture, interior architecture, and space-planning practice Paragon was a major winner at the Construction World Best Project Awards 2017, held at the Royal Kensington Golf Club on 8 November. The Best Projects are the only awards in the industry that recognise excellence across the... 

Schletter South Africa appoints new MD

By: Megan van Wyngaardt     13th November 2017 Solar photovoltaic (PV) mounting system supplier Schletter South Africa has appointed Trevor DeVries MD, effective November 6. DeVries is heading the company that serves the sub-Saharan Africa business of the globally active Schletter Group. 

Bearings company recommends predictive maintenance

By: Victor Moolman     10th November 2017 With predictive maintenance practices intended to help establish the condition of in-service equipment in order to predict when maintenance is required, engineering consumables and components distributor BMG operations manager Rouff Essop explains that predictive maintenance reduces downtime thus... 

Uber reaches almost 1-million users in South Africa

By: Irma Venter     9th November 2017 The longest Uber trip on record in sub-Saharan Africa happened in South Africa this year – 3 190 km from Cape Town to Durban, via Bloemfontein. The electronic ride hailing service does not disclose why the journey was made. The Uber app does, however, provide an estimated cost for the journey, at... 

Stefanutti Stocks sees 18% profit growth, expects margin squeeze to continue

By: Irma Venter     9th November 2017 Despite challenging trading conditions, Stefanutti Stocks on Thursday reported an 18% increase in operating profit, to R119-million, for the six months ended August  31. Revenue for the period also grew 18%, to R5.2-billion, up from R4.4-billion in the comparable period last year. 

Tradecore Steel Enters Third Year Of Operation

     8th November 2017 Local steel trading company’s growth shows there is no substitute for experience and expertise. November 2017 marks two full years of operation at TradeCore Steel (Pty) Ltd, a privately-owned steel trading and distribution company based in Wadeville, Gauteng. 

Uber bullish on Africa despite opposition from local taxi firms

By: Reuters     7th November 2017 Ride-hailing service Uber Technologies is growing rapidly in sub-Saharan Africa and considering moves into more markets, despite sometimes violent opposition from metered taxi drivers, a senior executive said on Tuesday. Uber's service has triggered protests by rivals from London to New Delhi as... 

Tradecore Steel Enters Third Year Of Operation

     6th November 2017 Local steel trading company’s growth shows there is no substitute for experience and expertise. November 2017 marks two full years of operation at TradeCore Steel (Pty) Ltd, a privately-owned steel trading and distribution company based in Wadeville, Gauteng. 

Converting From Steel To Aluminium Beverage Cans Bears Fruit For Sa’s Metals Packaging And Recycling Industries

     6th November 2017 Since 2013, more than $94-million (ZAR1.258 billion) in capital investments have been made by industry heavyweights such as ABInbev, Coca-Cola Southern Africa, Nampak Bevcan and Hulamin to convert the beverage can industry from steel to aluminium.  Not only did this step bring the region in line... 

WEF Global Gender Gap report sees South Africa slip four places

By: African News Agency      2nd November 2017 The World Economic Forum’s (WEF) latest Global Gender Gap report shows that South Africa has dropped to nineteenth place out of 144 countries measured. According to a statement from WEF, this year painted a bleak picture of gender equality globally. WEF said that for the first time since... 

Fluor successfully completes project at Letlhakane Mine in Botswana

     1st November 2017 Fluor has successfully completed the construction of Debswana’s Letlhakane Mine Tailings Resource Treatment Plant (LMTRTP), situated near Francistown in central Botswana. The modular plant, which was designed by Fluor, is currently being commissioned. The new 3.6 million tonne per annum modular... 

Innovative fit-out boosts ‘green’ status of GE Africa Innovation Centre

     1st November 2017 Leading architecture, interior design, and space-planning practice Paragon was tasked by GE Global Properties to design and fit-out the GE Africa Innovation Centre (GEAIC), the first green- and LEED-certified GE building in Sub-Saharan Africa. GE opened its first African-based innovation centre... 

Sub-Saharan Africa sets another record for number of business reforms

By: Natasha Odendaal     31st October 2017 Sub-Saharan African countries have set a new record, for the second consecutive year, for the number of business reforms undertaken during 2016/17, a new World Bank report shows. The ‘Doing Business 2018: Reforming to Create Jobs’ report, now in its fifteenth year, reported that 83 business... 

IMF says rising debt, political risk dim sub-Saharan Africa's economic outlook

By: Reuters     30th October 2017 Economic growth is expected to rise to 3.4% in sub-Saharan Africa next year from 2.6% in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South Africa are the biggest economies in Africa south... 

DTI developing IP policy

By: Anine Kilian     27th October 2017 The Department of Trade and Industry (DTI) is, in partnership with other Ministries that participate in the inter-Ministerial committee on intellectual property (IP), developing an intellectual property (IP) policy aimed at achieving policy coherence in government and at realising South Africa’s... 

Steel company raises the bar in Africa with new technologies

By: Robyn Wilkinson     27th October 2017 Taking a long-term view that predicts significant growth in demand for stainless steel products in Africa in the next few years, steel supplier and processing company Allied Steelrode has invested in advanced processing technologies that will cement its position as a market-leader in product... 

Euro Steel

By: Creamer Media Reporter      27th October 2017 Part of AFMETCO Group of Companies, Euro Steel has evolved into one of South Africa’s largest stainless steel, special steels, aluminium and other corrosion-resistant materials distributors and exporters. The company operates predominantly in all major cities in South Africa, but also has... 

SA not in a crisis – economist

By: News24Wire      23rd October 2017 South Africa is not necessarily in a crisis, according to Lesiba Mothata, executive chief economist at Alexander Forbes Investments. He based his view on a comparison to other emerging market examples of banks failing systematically, crises of the outright loss of fiscal policy and "Hungarian... 

New business model drives group’s resurgence in Africa

By: Robyn Wilkinson     20th October 2017 Economic growth in Africa is ensuring a steady demand for infrastructure development and by tailoring its business model to access this demand, engineering services provider ELB Group has enhanced its activities on the continent and announced a return to profitability. 

South Africa falling down a rabbit hole

By: Riaan de Lange     13th October 2017 The use of graphs to illustrate the South African economy’s trajectory is a superfluous endeavour in the nth degree. The appeal of graphs, your general line graph, is to emphasise the tendency of the measure to ascend. Not to descend. But then South Africa wants to also transcend. To avoid... 

Drainage system helps manufacturer achieve international standards

By: Robyn Wilkinson     13th October 2017 Drainage technology provider ACO Systems South Africa has completed the first phase of the installation of its flagship hygienic solution at food manufacturer Simba Pepsico’s production plant, in Johannesburg. 

Event drives partnerships at the highest levels

By: Robyn Wilkinson     13th October 2017 This year’s South Africa-Italy Summit/Indaba will advance the work of the previous three years’ events in building a community of business and governmental leaders from South Africa and Italy that will seek to reinforce strategic business relationships and actively explore new opportunities for... 

Pan-European bank celebrates 45 years in SA

By: Robyn Wilkinson     13th October 2017 Pan-European banking and financial services provider UniCredit will celebrate 45 years of successful service in South Africa this year, having provided support for European companies entering African markets from its Johannesburg-based representative office since 1972. 

Renewed focus for construction equipment supplier

By: Simone Liedtke     13th October 2017 Welding and construction equipment-related supplier Renttech South Africa (SA) aims to provide an “unmatched” range of construction equipment for sale or to rent for the construction industry as part of its goal to grow consistently and sustainably. 

Hybrid solar systems punted as the way forward for sub-Saharan Africa mines

By: Dylan Slater     13th October 2017 Factors such as limited and unreliable energy transmission and distribution grids, across many countries in sub-Saharan Africa, have created a dependency among large industrial and mining houses on diesel and heavy fuel oil (HFO) to provide a reliable energy supply, says renewable-energy... 

South Africa vulnerable to any sharp rise in global rates, World Bank warns

By: Terence Creamer     11th October 2017 A quicker and sharper-than-expected normalisation in interest rates in the US could trigger a reversal in capital flows to South Africa, the World Bank’s latest ‘Africa’s Pulse’ warns, adding that any sharp increase in global interest rates could also complicate debt dynamics for sub-Saharan... 

Automotive investment projects, South Africa

By: Sheila Barradas     6th October 2017 BMW SA will invest an additional R160-million in its Rosslyn manufacturing facility to enhance production linespeed. 

Tshwane extends A Re Yeng bus service across townships – Msimanga

By: African News Agency      3rd October 2017 Tshwane Mayor Solly Msimanga on Monday, said the city will expand its A Re Yeng bus service into South Africa’s capital city’s high density areas in a bid to provide a safe, affordable, accessible and reliable transport system. “Let me start by first congratulating the A Re Yeng team under the... 

Pembridge targets inaugural deal before year-end

By: Creamer Media Reporter      28th September 2017 Mining-focused special purpose acquisition company Pembridge Resources has stepped up its due diligence on a number of potential targets, with the aim of announcing an inaugural transaction by the end of the year. The company, which in August moved from the Aim to LSE main board, is looking for... 

South Africa slips 14 places in WEF Global Competitiveness Index

By: African News Agency      27th September 2017 South Africa’s performance in the 2017-2018 World Economic Forum Global Competitiveness Index (WEF GCI) slipped 14 positions from the 2016-2017 WEF GCI results, leaving the country ranking 61 out of 137 economies assessed in the annual survey. Corruption, crime and theft, as well as government... 

redT sells energy storage units in Botswana

By: Anine Kilian     26th September 2017 Energy storage technology company redT energy has sold fourteen 40 kWh energy storage units to remote critical communications infrastructure sites across Botswana. The locations currently have no connection to the grid and will use 11 kW of solar panels per site as the sole form of generation.... 

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