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Denel confirms salary cut; union expresses shock and concern

By: Rebecca Campbell     Updated 41 minutes ago State-owned defence industrial group Denel confirmed on Tuesday that it will pay its staff only 85% of their salaries for this month. “Due to ongoing liquidity challenges we are now faced with unfortunate reality that the company is not in a position to fulfil the 100% salary obligation,” stated... 

Denel confirms salary cut; union expresses shock and concern
Photo by Duane Daws/Creamer Media
Some of the Denel Group’s products on display – in the foreground, an Umkhonto naval surface-to-air missile, with a Badger infantry fighting vehicle behind, and just visible in the left background, a Seeker unmanned aerial vehicle

BMW SA investigates software solution to counter problematic GridCars chargers

By: Irma Venter     Updated 32 minutes ago BMW Group South Africa (BMW SA) will investigate updating the software on the 60 Ah version of the BMW i3 electric car, in an effort to assist with some older models of the vehicle apparently struggling to make use of selected GridCars fast chargers. The problem was first highlighted by the South... 

 BMW SA investigates software solution to counter problematic GridCars chargers

Omnia posts full-year loss on mix of negative drivers

By: Reuters     Updated 3 minutes ago Omnia Holdings, a South African chemicals and fertiliser maker, reported a full-year loss on Tuesday as a volatile currency, droughts, changes in the mining industry and difficult global trading conditions dented its business. The company, which also produces explosives, posted a headline loss... 

More African capitals realise need for resilient, sustainable infrastructure 

By: Marleny Arnoldi     24th June 2019 City of Tshwane executive mayor Stevens Mokgalapa says 71% of South Africa’s population will live in urban areas by 2030. This will increase further to 80% by 2050. Africa as a continent, meanwhile, is expected to reach 50% urbanisation by 2030, the mayor said, citing data from the World... 

More African capitals realise need for resilient, sustainable infrastructure
Tshwane mayor Stevens Mokgalapa

Eskom's gain South Africa's pain as investors balk at debt 

By: Bloomberg     24th June 2019 President Cyril Ramaphosa’s latest pledge to support Eskom Holdings is good news for the cash-strapped electricity company -- but some investors are balking at the prospect of increased sovereign-bond issuance to pay for the bailout. Ramaphosa told lawmakers last week South Africa would bring... 

Eskom's gain South Africa's pain as investors balk at debt

Water department going to court to stop EC municipality 'polluting' Great Fish River

By: African News Agency      Updated 1 hour 2 minutes ago The Department of Water and Sanitation (DWS) is taking legal action to force an Eastern Cape municipality to stop polluting the Great Fish River, it said on Monday.  DWS’ Andrew Lucas, responsible for water regulation in the Eastern Cape, said in a statement that legal action was being taken... 

Nelson Mandela Bay municipality vows to clean up filthy city

By: African News Agency      Updated 56 minutes ago Nelson Mandela Bay Municipality has embarked on a  campaign to clean up the city by budgeting R40-million for the 2019/20 financial year.  Forty three co-operatives will be paid as part of its “Clean and Green Programme”. 

Astral Foods secures emergency water arrangement for Mpumalanga facility 

By: Simone Liedtke     24th June 2019 Poultry producer Astral Foods has recently, with the assistance of a number of national government departments, secured an emergency arrangement with the Lekwa municipality as an interim measure to stave off the water crisis affecting its Goldi poultry processing facility in Standerton,... 

South Africa, China sign deal to partner in Square Kilometer Array

By: African News Agency      24th June 2019 International Relations Minister Naledi Pandor, who is leading a South African delegation of senior government officials to the Forum for China-Africa Cooperation Coordinators’ Meeting, on Monday signed a deal which paves the way for Beijing entities to partner in South Africa's astronomy... 

 South Africa, China sign deal to partner in Square Kilometer Array

South Africa, China sign deals that signify ‘deepening economic relationship’

By: Simone Liedtke     24th June 2019 The signing of 93 economic and trade cooperation agreements between South African and Chinese entrepreneurs signifies a deepening of the economic relationship between the respective countries, newly appointed Trade and Industry Minister Ebrahim Patel said in a statement. The statement was issued... 

South Africa, China sign deals that signify ‘deepening economic relationship’
Trade and Industry Minister Ebrahim Patel handing peppadews to Chinese Assistant Minister of Commerce Ren Hongbin and Ambassador Lin Songtian as part of promoting Proudly SA products

Perdekraal East Wind Farm turbine foundations completed ahead of schedule

By: Simone Liedtke     24th June 2019 The developers of the Perdekraal East Wind Farm, in the Western Cape, last week completed the project’s 48 wind turbine foundations – three weeks ahead of schedule and still within budget. The first of the foundations was poured in November 2018. 

Perdekraal East Wind Farm turbine foundations completed ahead of schedule

Libstar increases its competitiveness with new par-baked goods offering

By: Simone Liedtke     24th June 2019 Food and beverage producer Libstar Group has further increased its competitiveness by expanding its facilities to meet client requirements by converting a section of the group’s Amaro Foods facility, in Epping, into a par-bake facility.   

Libstar increases its competitiveness with new par-baked goods offering

Etion to report further full-year earnings slippage

By: Natasha Odendaal     24th June 2019 JSE-listed Etion on Monday posted an update to its trading statement, revealing a further slide in its expected headline earnings per share (HEPS) and earnings per share (EPS) for the financial year ended March 31. The group expects HEPS and EPS to slip to a loss of between 50c and 75c apiece,... 

WeWork opens second South African location in Cape Town

By: Marleny Arnoldi     24th June 2019 Global space, community and services company WeWork has established an office in Cape Town, the second city in South Africa where it is launching a presence. WeWork will take up four floors in the city’s eleven-floor 80 Strand street property, which is co-owned by Emira Property Fund and Swish... 

Kibo mulls renewables cogeneration opportunities 

By: Simone Liedtke     24th June 2019 In line with its strategy of incorporating long-term renewable energy solutions into its existing coal power projects, Africa-focused Kibo Energy has signed a collaboration agreement with ESS Tech to develop suitable baseload electricity storage solutions. Having recognised the increasing need to... 

Rolls-Royce reports strong progress in its civil aerospace 'IntelligentEngine' initiative

By: Rebecca Campbell     24th June 2019 UK-based global major power plant manufacturer Rolls-Royce has reported that its “IntelligentEngine” philosophy (also referred to as a vision) is making strong progress throughout its Civil Aerospace products and services “portfolio”, powerfully driven by the capabilities of digital technology.... 

Rolls-Royce reports strong progress in its civil aerospace 'IntelligentEngine' initiative
Photo by Rolls-Royce
Trent 1000 civil aeroengines on a Rolls-Royce production line

Air Tanzania to reintroduce flights to South Africa

By: African News Agency      24th June 2019 Air Tanzania is to resume flights to South Africa on Friday in a bid to attract South African tourists and business travellers. The revived passenger schedule will connect four major airports in Tanzania with OR Tambo International Airport in Johannesburg with four direct flights per week on... 

Wild weather is endangering world's oldest form of clean power

By: Bloomberg     24th June 2019 The Kariba Dam has towered over one of Africa’s mightiest rivers for 60 years, forming the world’s largest reservoir and providing reliable electricity to Zambia and Zimbabwe. But as drought grips the region, flow on the Zambezi river has dwindled to a third of what it was a year ago. Last month,... 

Steel production up 5.4% y/y in May

By: Creamer Media Reporter      24th June 2019 Global crude steel production increased by 5.4% year-on-year to 162.7-million tonnes in May, the World Steel Association (worldsteel) reported on Monday. Its data shows that China's crude steel output had increased by 10% year-on-year to 89.1-million tonnes in May, while India's output had... 

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     24th June 2019 Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Pleasing Orion bankable points to fast project payback
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Sisulu calls on municipalities to prioritise water, sanitation infrastructure maintenance

By: African News Agency      24th June 2019 Human Settlements, Water and Sanitation Minister Lindiwe Sisulu on Sunday called on all municipalities to prioritise maintenance of water and sanitation infrastructure to prevent pollution of dams and rivers. In a statement issued after a briefing by water and sanitation department acting... 

Airtel Africa receives pre-IPO interest worth about $200m – bookrunner

By: Reuters     24th June 2019 One of the bookrunners handling Airtel Africa Ltd's planned initial public offering on the London Stock Exchange said on Monday it had received indications of interest worth about $200-million from pre-IPO investors. Airtel Africa, a unit of India's Bharti Airtel Ltd, last week set a price range... 

Nigerian court adjourns Oando case against securities regulator to 22 July

By: Reuters     24th June 2019 A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

Resgen says final member confirms participation in lending syndicate for Boikarabelo

By: African News Agency      24th June 2019 Energy resources firm Resource Generation (Resgen), which is listed on the ASX and the JSE, on Monday said the third and final member of the proposed lending syndicate for the construction of its Boikarabelo mine in South Africa had confirmed its participation in writing. It said the combined... 

Freezing cold, water cuts and power outages: Gauteng's week of triple challenges

By: African News Agency      24th June 2019 Gauteng residents began the last week of June facing the triple challenges of freezing temperatures, water supply cuts and power outages in various parts of the province. In the south of Gauteng, the province, SA Weather Services warned of extreme cold on Monday, with overnight temperatures... 

Ethiopia's army chief, top regional officials killed in northern coup attempt

By: Reuters     24th June 2019 Ethiopia's army chief of staff and the regional president of the northern state of Amhara were killed in two related attacks when a general tried to seize control of Amhara in an attempted coup, the prime minister's office said on Sunday. Amhara state president Ambachew Mekonnen and his advisor... 

US official outlines conditions for enticing more US firms to Africa

By: Terence Creamer     21st June 2019 US Assistant Secretary of State for African Affairs Tibor Nagy believes there is a window of opportunity for South Africa to attract direct investment from American firms that are currently seeking outlets for billions of dollars in capital, accumulated as a result of strong economic conditions... 

US official outlines conditions for enticing more US firms to Africa

MAST successfully closes Bordersley flexible power site acquisition

By: Tasneem Bulbulia     21st June 2019 Dual-listed Kibo Energy’s 60%-owned subsidiary, MAST Energy Developments (MED), has completed its acquisition of Bordersley Power, a special purpose vehicle (SPV) that will hold a 5 MW gas-fuelled power generation plant targeting commercial commissioning at the end of the first quarter of 2020.... 

Standard Bank launches Africa China Agent Proposition in South Africa

By: Tasneem Bulbulia     21st June 2019 Standard Bank on Friday launched its Africa China Agent Proposition (ACAP), which connects African importers and Chinese exporters and facilitates trade financing and payments and collections that support Africa–China trade flow, in South Africa.     

Orion education initiative ‘well received’, says COO

By: Simone Liedtke     21st June 2019 JSE- and ASX-listed Orion Minerals’ introductory mining familiarisation short courses within the Siyathemba municipality, in the Northern Cape, have raised public awareness of the mining industry and the opportunities it offers, the company reports. The five-day short courses have been offered... 

Insimbi to acquire metals trading firm Treppo

By: Tasneem Bulbulia     21st June 2019 JSE-listed Insimbi Industrial Holdings will see ISB acquire Treppo, which is involved in the sourcing, trading and buying of recycled metals – mainly ferrous metals or steel – in the greater Gauteng area. Through this transaction, Insimbi will expand its ferrous business and its client base,... 

PnP joins metal packaging recycling organisation

By: Marleny Arnoldi     21st June 2019 Supermarket group Pick n Pay (PnP) has signed up as a member of MetPac-SA, a producer responsibility organisation representing the metal packaging recycling industry in South Africa. MetPac-SA CEO Kishan Singh this week applauded PnP’s decision to support the local metal packaging industry’s... 

TCTA appoints interim CFO

By: Marleny Arnoldi     21st June 2019 Trans-Caledon Tunnel Authority (TCTA) on Friday announced that its CFO Halima Nazeer had resigned, effective July 1. She has worked for TCTA since 2001 and will now pursue a director-general position of finance, budgeting and accounting at New Development Bank Shanghai.  

CSIR announces new head of its Defence and Security Technology Sector Cluster

By: Rebecca Campbell     21st June 2019 The Council for Scientific and Industrial Research (CSIR) announced on Friday that Sipho Mbhokota had been appointed as the new executive manager of CSIR Defence and Security (previously Defence, Peace, Safety and Security). He has been at the CSIR since 2014, when he was appointed Competency... 

French car maker PSA opens $630m Morocco plant

By: Reuters     21st June 2019 French carmaker PSA on Friday opened its €555-million ($630-million) factory in Kenitra's Atlantic Free Zone, near Rabat. PSA will initially produce an annual 100 000 cars in 2020 increasing to 200 000 by 2023, Morocco's Industry Minister Moulay Hafid Elalamy said at an official inauguration... 

Vasari to invest $100m in African breweries

By: Marleny Arnoldi     21st June 2019 Alcoholic beverage investor Vasari Beverages has completed a $100-million capital raise to fund the expansion of its existing beverage operations in Ethiopia, as well as to pursue new acquisitions and greenfield development opportunities across Africa and Asia. Vasari, majority owned by CEO... 

South African drone sector association created

By: Rebecca Campbell     21st June 2019 A representative body for the South African unmanned aerial vehicle (UAV), or drone, sector was launched on Thursday evening at Kyalami, north of Johannesburg. This is the South African Federation of Unmanned Aircraft Systems (UAS – another term for drones), officially abbreviated to Safu.... 

South African drone sector association created

EOH strengthens its board

By: Marleny Arnoldi     21st June 2019 JSE-listed information technology services group EOH has appointed Dr Anushka Bogdanov, Andrew Mthembu and Michael Bosman as independent nonexecutive directors, effective immediately. “The skill and experience brought by our incoming directors will go a long way towards enhancing and... 

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