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Concerns raised over lack of policy framework for competition law changes 

By: Terence Creamer     Updated 5 hours ago Concern has been expressed about the absence of a comprehensive competition policy framework to help guide proposed amendments to competition legislation and facilitate greater alignment with other government policies and programmes, such as the Industrial Policy Action Plan. In December,... 

Wits Faculty of Commerce, Law and Management Dean Imraan Valodia, CCRED director Simon Roberts, Genesis Analytics’ James Hodge, DTI’s Garth Strachan, Advocate Michelle le Roux and the Competition Commission’s Liberty Mncube on proposed changes to the South Africa’s Competition Act and the lack of an overarching policy framework. Camera Work: Nicholas Boyd. Editing: Christo Greyling. Recorded: 19.1.2018

IDC assessing 21 applications under R1.5bn downstream steel incentive

By: Terence Creamer     19th January 2018 The Industrial Development Corporation (IDC) is currently assessing 21 potential transactions, worth a combined R437-million, arising from applications for support under a R1.5-billion industrial financing scheme set up in 2017 to support manufacturers of value-added steel products. The... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

PPC reschedules DRC cement plant debt

By: Megan van Wyngaardt     Updated 6 hours ago Construction materials provider PPC has further improved its liquidity position by finalising a capital repayment moratorium with funders of the group’s Democratic Republic of Congo (DRC) operation, limiting PPC’s capital requirements to only interest payments from January this year to January... 

Construction of new Transnet plough tug under way

By: Creamer Media Reporter      Updated 6 hours ago The construction of Transnet National Ports Authority’s (TNPA’s) new plough tug has kicked off in Port Elizabeth. The yet-to-be-named vessel, which is expected to be handed over to TNPA Dredging Services by October this year, will be used as a bed leveller, smoothing out high spots created by... 

What’s right and what’s wrong in a world where machines drive us

By: Irma Venter     19th January 2018 A vehicle travels at speed around a bend on a hillside. Several children run onto the road. The options available to the driver are to hit the children, or to drive off the cliffside. Would the driver make a decision of self-preservation, or self-sacrifice? 

What’s right and what’s wrong in a world where machines drive us

Signing of power purchase agreements with IPPs imminent – SAWEA

By: Megan van Wyngaardt     Updated 5 hours ago The South African Wind Energy Association (SAWEA) expects the conclusion of 26 outstanding power purchase agreements (PPAs) with independent power producers (IPPs) to occur during the first quarter of this year. It said on Friday that the majority of the processes required to conclude the PPAs... 

Signing of power purchase agreements with IPPs imminent – SAWEA

Reserve Bank Governor Kganyago's election as IMFC chair welcomed

By: African News Agency      19th January 2018 Finance Minister Malusi Gigaba on Thursday announced that South African Reserve Bank (SARB) Governor Lesetja Kganyago was selected as chairperson of the International Monetary and Financial Committee (IMFC). Kganyago, who is also South Africa's Alternate Governor on the International Monetary... 

Domestic IPOs by African issuers increase for a second year

By: Creamer Media Reporter      Updated 5 hours ago While 2017 registered fewer domestic listings in Africa, the capital raised in domestic listings by African issuers increased by 19.5% year-on-year to $1.4-billion, the second consecutive year of growth. The latest research by global law firm Baker McKenzie shows that there were seven domestic... 

Water crisis: De Lille's powers limited, tariffs to be introduced

By: News24Wire      Updated 6 hours ago The City of Cape Town voted on Friday to both limit mayor Patricia De Lille's powers to handle the drought crisis, and to introduce punitive tariff measures for residents. A special council sitting on Friday was due to address the introduction of punitive tariffs for residents falling within... 

Water crisis: De Lille's powers limited, tariffs to be introduced
Photo by Reuters
Cape Town Mayor Patricia De Lille

City of Cape Town transport head Melissa Whitehead suspended

By: News24Wire      19th January 2018 A senior transport head in the City of Cape Town has been suspended as a result of the alleged covering up of irregularities in which embattled Mayor Patricia de Lille is implicated. Council members met for a special sitting on Friday to discuss, among other things, allegations of fraud and... 

Sawis warns wine grape crop may be smallest since 2005

By: Megan van Wyngaardt     Updated 7 hours ago Continuing drought and low water supplies in the Western Cape may lead to South Africa’s smallest wine grape harvest since 2005, when 1.15-million tonnes were harvested owing to drought and diseases in some production areas. Industry body South African Wine Industry Information and Systems... 

Sawis warns wine grape crop may be smallest since 2005

African Energy to delist from Botswana exchange

By: Megan van Wyngaardt     19th January 2018 ASX-lsited African Energy Resources (AER) on Friday said it would delist from the Botswana Stock Exchange (BSE), as it currently encompassed only 22 shareholders with less than 0.3% of its shares on issue. Listed since October 2011, AER’s directors believed that the administrative costs and... 

African Energy to delist from Botswana exchange

Coca-Cola increases recycling efforts to contribute to waste-free world

By: Megan van Wyngaardt     Updated 4 hours ago To battle the increasing number of plastic items on landfills and in the world’s oceans, beverage giant Coco-Cola plans to take one can or bottle “back”, for every bottle or can sold globally, by 2030. “We are fundamentally reshaping our approach to packaging, with a global goal to help collect... 

Coca-Cola increases recycling efforts to contribute to waste-free world

Nigeria passes major oil reform bill after 17 year struggle

By: Reuters     19th January 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

Toothpaste ingredient could fight malaria, research shows

By: Reuters     19th January 2018 Research carried out in part by an artificially-intelligent (AI) ‘robot scientist’ has found that a common ingredient of toothpaste could be developed to fight drug-resistant strains of malaria. In a study in the journal Scientific Reports, scientists from Britain’s Cambridge University who used... 

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      19th January 2018 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

City of Cape Town withdraws drought levy proposal

By: News24Wire      Updated 7 hours ago The City of Cape Town has scrapped the proposed introduction of a drought levy, after the proposal was withdrawn at a special sitting on Friday. Council members debated the proposal following strong public backlash to the idea since it was mooted on Sunday, January 14. 

City of Cape Town withdraws drought levy proposal

Cool heads and cooperation needed to address WCape drought crisis – Agri SA

By: African News Agency      19th January 2018 Cool heads and steady leadership are needed to mobile and support farmers and residents as south-western parts of  South Africa grapple with a drought-related water crisis, farm group Agri SA said on Friday. “As the threat of our water sources running dry begins to materialize, panic is beginning... 

Cool heads and cooperation needed to address WCape drought crisis – Agri SA

Former Land Bank CEO convicted of fraud

By: African News Agency      19th January 2018 The specialised commercial crimes court in Pretoria has convicted former Land Bank CEO Philemon Radichaba Mohlahlane and three others of defrauding the bank of at least R6 million in a case dating back to 2012. The Directorate for Priority Crime Investigation, commonly known as the Hawks, said... 

Egypt, Ethiopia leaders say Nile dam must not ruin relations

By: Reuters     19th January 2018 Egyptian President Abdel Fattah al-Sisi pledged on Thursday not to let differences over a dam Ethiopia is building on the Nile river ruin relations with Addis Ababa. Ethiopia hopes the hydroelectric Grand Renaissance Dam will make it Africa's largest power exporter. 

South Africa's rand near 2-1/2 year high, stocks ease

By: Reuters     19th January 2018 South Africa's rand scaled a fresh 2-1/2 year high against a broadly fragile dollar on Friday before easing after the central bank held interest rates steady on Thursday. At 0715 GMT, the rand was 0.1 percent weaker at 12.145 to the dollar after earlier hitting 12.0725, its best level since June... 

South Africa's rand near 2-1/2 year high, stocks ease

Nigeria lawmakers look into recovering $21bn revenues from oil groups

By: Reuters     19th January 2018 Nigerian lawmakers ordered an investigation on Thursday into whether the government could recover $21-billion in revenues from international oil companies. Oil minister Emmanuel Ibe Kachikwu said in December the government had failed to enforce a legal provision entitling it to a greater share of... 

Norway's $1tn fund curbs holdings in biggest carbon dioxide emitters

By: Reuters     19th January 2018 Norway's sovereign wealth fund has trimmed the proportion of its $1 trillion fortune that is invested in companies that emit the most greenhouse gas, a Reuters survey has shown. Environmental campaigners hope the move by the world's biggest State-owned investment fund signals the start of a trend... 

Governments need to respond nimbly to tech advances, says WEF founder

By: African News Agency      19th January 2018 Governments and world leaders need to be nimble and adaptable when it comes to the governance of technological advances in order to fully harness its potential to solve critical global challenges. This is according to Professor Klaus Schwab, the founder and executive chairperson of the World... 

ANC WC to request inquiry into whether City 'deliberately ignored' drought warnings

By: News24Wire      19th January 2018 The ANC in the Western Cape on Thursday said it would request President Jacob Zuma to institute a Commission of Inquiry to establish whether the Western Cape government and the City of Cape Town "deliberately ignored the warnings of the diminishing water resources". "The DA must accept the blame... 

Winds of change have landed, bringing economic growth – BLSA CEO

By: Megan van Wyngaardt     18th January 2018 Business in South Africa has not been this hopeful about the future of the country in years, Business Leadership CEO Bonang Mohale said at a pre-World Economic Forum (WEF) briefing on Thursday. He highlighted that while the country was below investment grade, the recent African National Congress... 

Nigeria moves closer to turning long-awaited oil bill into law

By: Reuters     18th January 2018 Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the Senate last year, a lawmaker in the House of Representatives said on Thursday. It is the first time both houses have... 

British defence specialist Chemring faces corruption inquiry

By: Reuters     18th January 2018 British prosecutors said on Wednesday they had opened a bribery, corruption and money laundering investigation into defence specialist Chemring Group Plc, one of its subsidiaries and individuals associated with the businesses. The Serious Fraud Office (SFO) said Chemring Technology Solutions... 

South Africa holds rates as inflation risks offset rand strength

By: Reuters     18th January 2018 South Africa's central bank kept its benchmark repo rate unchanged at 6.75% on Thursday, saying that risks to inflation were still on the upside despite a recent strengthening of the rand currency. The majority of analysts polled by Reuters last week had predicted the repo rate would stay on... 

South Africa holds rates as inflation risks offset rand strength
Photo by Reuters
Reserve Bank governor Lesetja Kganyago

Drought levy likely to be dropped after massive outcry – De Lille

By: News24Wire      18th January 2018 The controversial drought levy, or drought charge, proposed by the City of Cape Town will most likely be rejected at a council meeting on Friday, Mayor Patricia de Lille said on Thursday. This, as detailed plans for the "eventuality" of the City’s Day Zero contingency plans will be released next... 

Drought levy likely to be dropped after massive outcry – De Lille
Photo by Reuters
Cape Town Mayor Patricia de Lille

VWSA launches assembly, ride-sharing, car-hailing business in Rwanda

By: Irma Venter     18th January 2018 German car maker Volkswagen has established Volkswagen Mobility Solutions Rwanda (VMSR), an integrated automotive mobility solutions company that is to be run under the auspices of Volkswagen Group South Africa (VWSA). VWSA is responsible for the sub-Saharan African region within the Volkswagen... 

VWSA launches assembly, ride-sharing, car-hailing business in Rwanda
The 2018 Polo

Africa’s industrialisation needs to be more focused, unrushed – panel

By: Natasha Odendaal     18th January 2018 While there is some momentum in industrialisation efforts across Africa, a panel of industry participants have cautioned against a knee-jerk reaction that could fragment or overwhelm capacities on the continent. Industrialisation on the continent has historically lagged that of the rest of the... 

What Ramaphosa’s election means for business 

     18th January 2018 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about the new African National Congress president’s hopes to reignite economic growth. 

What Ramaphosa’s election means for business

Shaw Controls ISO certified  

     18th January 2018 Motor control centre manufacturer Shaw Controls, a Zest WEG group company, is now a proud ISO 9000:2015 certified local manufacturing facility. Shannon de Ryhove has the story. 

Shaw Controls ISO certified

Toshiba reaches deal to help resolve Westinghouse bankruptcy, rebuild finances

By: Reuters     18th January 2018 Toshiba Corp said on Thursday it had clinched an agreement to sell its claims in bankrupt US nuclear plant maker Westinghouse Electric Co in a deal that would add $3.7-billion to the Japanese owner's depleted capital base. The Japanese conglomerate has also agreed to transfer its... 

China govt curbs drop avg daily steel output to 12-mth low in Dec

By: Reuters     18th January 2018 China's average daily steel output fell 1.9% in December from the previous month, official data showed on Thursday, touching the lowest level in a year as government-imposed production curbs deepened. Total output climbed to 67.05-million tonnes in December from 66.15-million tonnes in November,... 

German construction sales to grow by 4% this year – associations

By: Reuters     18th January 2018 German construction companies expect sales to grow by 4% this year, reaching their highest level since 1995, industry associations said on Thursday, suggesting the sector will continue to propel growth in Europe's biggest economy this year. Germany is enjoying a construction boom due to higher... 

Inclusive growth represents a $7tn opportunity – Mastercard

By: Natasha Odendaal     18th January 2018 The ingredients that allow for inclusive growth to take place are already lined up, but it will be up to the private sector, governments and civil society to start the dialogue and determine the degree of intention to take growth to the next level. The pursuit of inclusive growth needed to be... 

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Concerns raised over lack of policy framework for competition law changes

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