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South Africa's decline worst of nations not at war, model shows  

By: Bloomberg     17th April 2019 South Africa’s performance on a range of social, economic and governance measures deteriorated more in the past 12 years than any other nation not at war, according to Eunomix Business & Economics. The decline is likely to continue as the country wrestles with the consequences of nine years of... 

South Africa's decline worst of nations not at war, model shows

Load-shedding may cut growth close to zero, SARB says

By: Bloomberg     Updated 4 hours ago South Africa’s power cuts could bring economic growth for the year close to zero if they continue at the same severity seen in March, the South African Reserve Bank (SARB) said. The wave of rolling blackouts that started in November and are among the worst the country has yet experienced could... 

Load-shedding may cut growth close to zero, SARB says
SARB deputy governor Kuben Naidoo

Eskom CEO says 'days of surprises' over as problems exposed 

By: Bloomberg     17th April 2019 Almost 15 months into the job, and the boss of South Africa’s state-owned electricity company is getting to grips with issues spanning corruption to defective power plants that threatened to collapse the grid. “The days of surprises are over,” Eskom Holdings CEO Phakamani Hadebe said in an... 

SARB says too early to claim inflation win

By: Bloomberg     Updated 4 hours ago The South African Reserve Bank says it’s premature to claim victory in the war against inflation and sees price growth stabilising at 4.5% only by the end of 2021. While inflation has been inside the central bank’s target band of 3% to 6% for two years and was at the midpoint of this range in... 

S&P Global downgrades Cell C on liquidity risks 

By: Creamer Media Reporter      17th April 2019 Ratings agency S&P Global Ratings has downgraded South Africa’s third largest mobile operator Cell C to 'CCC-', with a developing outlook, on the back of considerable short-term liquidity and refinancing risks. The mobile operator’s rating was lowered from ‘CCC+’ and ‘B-‘ on S&P’s issuer credit... 

Africa's sole nuclear plant undergoes revamp to extend lifespan

By: Bloomberg     Updated 3 hours ago Eskom Holdings, the State utility that supplies 95% of South Africa’s power, is overhauling the continent’s sole nuclear plant with the aim of extending its lifespan by at least 20 years. The revamp of the 1 860 MW Koeberg facility comes as Eskom struggles to produce enough electricity to meet... 

Africa's sole nuclear plant undergoes revamp to extend lifespan

Class action summons issued against Tiger Brands

By: Nadine James     17th April 2019 Packaged goods company Tiger Brands on Wednesday confirmed receipt of a summons in respect of a class action lawsuit seeking damages for the 2018 listeriosis outbreak. The Johannesburg High Court granted a certification order in December 2018, authorising the issue of a summons in a class action... 

Class action summons issued against Tiger Brands

Sapref’s new R50m reactor to enable better low-sulphur diesel production

By: Nadine James     17th April 2019 The South African Petroleum Refinery’s (Sapref’s) new R50-million reactor arrived at the Durban port earlier this week. The 242 t, 31-m-long reactor will enable Sapref, which is a joint venture between Shell Refining South Africa and BP Southern Africa, to produce “better, low-sulphur diesel”,... 

Sapref’s new R50m reactor to enable better low-sulphur diesel production
UMKHOMA REACTOR

Africa’s air cargo sector needs trade and aviation liberalisation to reach full potential

By: Rebecca Campbell     Updated 4 hours ago In early February, the International Air Transport Association (IATA) released its global air freight data for the whole of 2018. Although worldwide demand, measured in freight (metric) ton kilometres (FTKs) rose by 3.5% in comparison to 2017, it was far below 2017’s 9.7% growth. And demand... 

Africa’s air cargo sector needs trade and aviation liberalisation to reach full potential

Fuel price cap still being investigated, energy department says 

By: News24Wire      17th April 2019 The Department of Energy is still researching the feasibility of implementing a fuel price cap, and the outcome will be announced in due course, a spokesperson said on Wednesday. The possibility of a hard price ceiling on 93 unleaded fuel was mooted by Energy Minister Jeff Radebe in mid-October... 

Fuel price cap still being investigated, energy department says

Saice requests Ramaphosa’s urgent intervention to address construction site attacks

By: Nadine James     17th April 2019 The South African Institution of Civil Engineering (Saice) has joined other industry bodies in strongly condemning the recent spate of alleged “mafia-style” coordinated gang activity on project sites across the country. In a statement issued on Wednesday, Saice referred to pleas from the South... 

Saice requests Ramaphosa’s urgent intervention to address construction site attacks

Africa's biggest fund manager is said to court banker for CEO

By: Bloomberg     Updated 1 hour 56 minutes ago Africa’s largest fund manager is said to be considering financial services executive Kennedy Bungane to head the institution, according to people familiar with the matter. Responsible for most South African government workers’ pension funds, the Public Investment Corp. is being probed over... 

Mashaba says service delivery in Jhb is improving, but irregular expenditure remains a problem

By: Marleny Arnoldi     17th April 2019 Since the Democratic Alliance entered into a coalition government in the Johannesburg metropolitan two and a half years ago, the City of Johannesburg has achieved and maintained economic growth of around 1.95% a year, mayor Herman Mashaba said at the city’s annual general meeting on Wednesday.... 

Mashaba says service delivery in Jhb is improving, but irregular expenditure remains a problem
Johannesburg Mayor Herman Mashaba

NUM members on strike at PPC Cement in Pretoria

By: African News Agency      17th April 2019 The National Union of Mineworkers (NUM) on Wednesday confirmed a strike by workers at cement producing company PPC, at Hercules, in Pretoria, over wage increases.  NUM PPC branch secretary Surprise Baloyi, said workers were embarking on a protected strike over the company’s refusal to bargain on... 

Higher import tariffs on chicken will hurt poor consumers – EBieSA

By: Tasneem Bulbulia     17th April 2019 The Emerging Black Importers and Exporters South Africa and the South African National Consumer Union say raising tariffs on imported chicken could hike local chicken prices by up to 32%, putting South African consumers under further financial strain and impacting on food security for the poor.... 

Nzimande requests George IPTN Phase 4B suspension

By: Nadine James     17th April 2019 Transport Minister Dr Blade Nzimande has requested the Western Cape provincial government to suspend plans to roll out Phase 4B of the George Integrated Public Transport Network (IPTN). This was in response to a letter sent by the Western Cape Transport MEC Donald Grant, informing Nzimande of the... 

Nzimande requests George IPTN Phase 4B suspension
Photo by Creamer Media
Transport Minister Dr Blade Nzimande

African Rainbow Capital acquires QED for undisclosed amount

By: Nadine James     17th April 2019 Empowerment investment holding company African Rainbow Capital (ARC) on Wednesday announced plans to acquire a majority shareholding in independent actuarial advisory business QED for an undisclosed amount. QED operates across 17 countries in Africa, offering actuarial and risk management... 

Dimension Data, Cisco sign co-innovation agreement

By: Creamer Media Reporter      Updated 1 hour 54 minutes ago Information and technology groups Dimension Data and Cisco have entered into a new co-innovation agreement to develop a deeper collaboration environment and framework to jointly solve clients’ business needs. The agreement will provide the duo scale and market reach, leveraging the companies’... 

PIC raises Texton stake to 18.9%

By: Nadine James     17th April 2019 State-owned investment management company, the Public Investment Corporation (PIC) increased its beneficial shareholding in JSE-listed real estate investment trust Texton Property Fund to 18.9%. Texton CEO Marius Muller on Wednesday noted that the PIC had become Texton’s largest shareholder. 

PIC raises Texton stake to 18.9%
MARIUS MULLER

Global IT spend to tick up by 1.1% this year – Gartner

By: Schalk Burger     Updated 1 hour ago Worldwide spending on information technology (IT) is projected to reach $3.79-trillion this year, a 1.1% increase from 2018, according to a forecast released by IT market research and advisory firm Gartner this week. Spending on data centre systems and devices will decrease by 2.8% and 1.9%,... 

Nigeria court orders arrests over Shell, Eni Malabu oil deal

By: Bloomberg     Updated 3 hours ago A court in Nigeria ordered the arrest of two former ministers and others allegedly connected with illegal payments leading to the 2011 acquisition of what is considered one of the biggest oil fields in the West African country. Former Justice Minister and Attorney General Mohammed Adoke, ex-Oil... 

Acumen closes $70m impact fund for clean energy in Africa

By: Bloomberg     17th April 2019 Jacqueline Novogratz’s impact investing group closed an almost $70-million fund to back companies delivering affordable and renewable energy to mostly poor consumers in East Africa. KawiSafi Ventures seeks to bring clean energy to ten-million people with investments in fast-growing companies... 

Nigeria has no intention of cutting fuel subsidy at this time

By: Reuters     Updated 3 hours ago Nigeria has no intention of removing subsidies on petroleum products, its finance minister said on Wednesday after the International Monetary Fund (IMF) advised the country to eliminate them to protect public finances. Africa's top oil producer and biggest economy heavily subsidises gasoline and... 

France to open redesign of Notre-Dame's spire to international architects

By: Reuters     Updated 3 hours ago France will open the redesign of the Notre-Dame de Paris’ iconic roofline to international architects after Monday night’s blaze gutted the oak-framed structure and sent its 300-foot spire crashing through its vaulted ceiling, the country's PM said on Wednesday. President Emmanuel Macron pledged... 

Angola mobile tender dials back on transparency pledge

By: Bloomberg     17th April 2019 Since assuming power in 2017, Angolan President Joao Lourenco has repeatedly vowed to steer sub-Saharan Africa’s second-biggest oil producer into a new era of transparency. Last week, he missed a golden opportunity to deliver on that promise. The sale of the country’s fourth telecommunications... 

Agri SA applauds Santam donation to drought relief fund

By: African News Agency      Updated 17 minutes ago Agricultural industry association Agri SA on Thursday applauded a donation from financial services group Santam to help drought-stricken farmers in the Northern Cape province. It said the drought in Sutherland had caused a devastating decline in the sheep breeding population and placed the town’s... 

Agri SA applauds Santam donation to drought relief fund

Intu Properties, Cale Street sign JV for Intu Derby shopping centre

By: Simone Liedtke     Updated 23 minutes ago Intu Properties and investment firm Cale Street Investment on Thursday announced the establishment of a 50:50 joint venture for the Intu Derby shopping centre, in the UK. Intu Derby is located in the centre of Derby and is a retail and leisure destination in the 

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     Updated 2 hours 24 minutes ago Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Pilot Crushtec partners with Sanral to help smaller contractors tender for projects  

Updated 2 hours 32 minutes ago The South African National Roads Agency has signed a memorandum of understanding with rock crushing equipment supplier Pilot Crushtec to engender relationships with smaller contractors in the lower end of the construction industry, as part of the organisation’s transformation drive. Tasneem... 

Pilot Crushtec partners with Sanral to help smaller contractors tender for projects

Hulking nukes trying to get nimble in volatile power markets

By: Bloomberg     Updated 3 hours ago Nuclear reactors, the lumbering giants of electricity generation, are trying to become more agile. Power grids have become so swamped with volatile wind and solar that traditional plants are being forced to abruptly adjust their own output to keep systems stable – or pay a penalty. That’s... 

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Royal Bafokeng boosts production despite setbacks 

By: Martin Creamer     17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... 

Miners behind pre-poll South African stock rally not done yet

By: Bloomberg     17th April 2019 South African mining stocks have had their best start to the year since 2016 and there’s every chance they are not done yet. The FTSE/JSE Africa Mining Index has gained 22% as of April 16 and is close to an eight-year high, helping South Africa’s benchmark gauge advance 12% as investors show few... 

Sudanese military invites AUC chairperson to Khartoum for urgent talks

By: African News Agency      17th April 2019 Sudan’s Transitional Military Council (TMC) has invited African Union Commission (AUC) chairperson Moussa Faki to visit Khartoum for urgent talks after the AU Peace and Security Council (AUPSC) on Monday warned that unless the TMC handed over power to a civilian government Sudan would be kicked... 

SA consumer inflation edges up to 4.5% year-on-year in March

By: African News Agency      17th April 2019 South Africa's consumer price inflation edged higher to 4.5 percent year-on-year in March from 4.1 percent in February, the national statistics agency said on Wednesday. On a month-on-month basis, consumer prices were up 0.8 percent in March compared with February. 

SA consumer inflation edges up to 4.5% year-on-year in March

Impediments to small-scale embedded generation 

17th April 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the policy and regulatory impediments that are standing in the way of investment in small-scale embedded generation. 

Impediments to small-scale embedded generation

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