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Cape Town proposes national renewables procurement scheme for municipalities as it pushes ahead with IPP legal case

By: Terence Creamer     Updated 1 hour 44 minutes ago The City of Cape Town is proposing the creation of a nationally coordinated renewable-energy procurement programme through which municipalities are empowered to procure electricity from  independent power producers (IPPs). The City has adopted this position notwithstanding its long-running legal... 

Cape Town proposes national renewables procurement scheme for municipalities as it pushes ahead with IPP legal case

South Africa’s potential to export green hydrogen boosted

By: Martin Creamer     Updated 3 hours ago South Africa, which has been examining its competitiveness as a potential supplier of green hydrogen to Japan, is also being courted by Europe as a potential supplier in a world that is taking steps to decarbonise, Mining Weekly can report. Clean hydrogen is enjoying unprecedented political and... 

South Africa’s potential to export green hydrogen boosted
Japan, Europe, California creating demand for production of green hydrogen in South Africa.

Rand climbs to eight-week high versus the dollar

By: Reuters     Updated 1 hour 14 minutes ago South Africa's rand raced to its highest in more than eight weeks against the U.S. dollar on Tuesday, as optimism about a global recovery from the COVID-19 pandemic boosted riskier assets, with investors looking past Sino-U.S. trade tensions. At 0605 GMT, the rand traded at 17.4700 per dollar,... 

BRPs granted leave to appeal interdict against retrenchments at SAA

By: Rebecca Campbell     Updated 50 minutes ago The Labour Court, sitting in Johannesburg, has granted the Business Rescue Practitioners (BRPs) for financially-beleaguered State-owned national flag carrier South African Airways (SAA) leave to appeal against the whole of a Labour Court judgment handed down on May 8. In that judgment, the court... 

Mondi appoints new CFO

By: Donna Slater     Updated 1 hour 4 minutes ago Packaging and paper manufacturer Mondi has appointed Mike Powell as its new CFO and executive director with an effective date yet to be announced. Following a thorough recruitment process involving internal and external candidates, Powell was appointed to succeed Andrew King, who was appointed... 

Engineering News & Mining Weekly e-magazine now available

21st May 2020 For the duration of South Africa’s Covid-19 lockdown period, Creamer Media is providing free digital access to our flagship Engineering News & Mining Weekly news magazine. Click now to read our latest edition. 

Engineering News & Mining Weekly e-magazine now available

Famous Brands grows full-year cash and profits

By: Marleny Arnoldi     Updated 56 minutes ago Food services franchisor Famous Brands managed to increase its cash generation, earnings a share and operating profit in the financial year ended February 29. CEO Darren Hele attributed the strong performance to the company continuing to commit resources to ensuring its offering has a strong... 

Famous Brands grows full-year cash and profits
Famous Brands CEO Darren Hele

IDC’s Kalagadi Manganese business rescue application opposed

By: Martin Creamer     Updated 1 hour 20 minutes ago An application of the State-owned Industrial Development Corporation (IDC) to have mining company Kalagadi Manganese placed under business rescue is being opposed in the High Court Gauteng Local Division, Johannesburg. As a R3-billion creditor and 20% shareholder of the black women-led private... 

IDC’s Kalagadi Manganese business rescue application opposed
Photo by Creamer Media
Kalagadi Manganese mine in Kalahari Basin, Northern Cape.

Afrimat proposes Unicorn Capital buyout

By: Tasneem Bulbulia     Updated 57 minutes ago JSE-listed Afrimat has submitted a nonbinding expression of interest to acquire the remaining shares in Unicorn Capital Partners it does not already own. Afrimat is offering one new Afrimat share for every 280 Unicorn Capital shares held. 

Trend Micro research highlights emerging deepfake ransomware, AI bot threats

By: Schalk Burger     Updated 24 minutes ago Cybersecurity multinational Trend Micro has warned businesses about emerging threats, such as Deepfake ransomware, artificial intelligence (AI) bots, access-as-a-service and targeted subscriber identity module- (SIM-) swapping. "A layered, risk-based response is vital for mitigating the risk... 

Festival of Motoring postponed to August 2021

By: Chanel de Bruyn     Updated 29 minutes ago Event organiser Messe Frankfurt South Africa is postponing its Festival of Motoring event to August 2021. The Festival of Motoring, presented by WesBank, is the largest automotive show on the African continent and the only national industry-supported event endorsed by the National Association of... 

SA schools make progress in getting ready to reopen on June 1 - education department

By: African News Agency      Updated 59 minutes ago South African schools are making progress in preparations to reopen on June 1 after shutting down due to the Covid-19 outbreak, although some have not yet received their safety material, the department of education said on Tuesday. In a statement, the department said the council of education... 

 SA schools make progress in getting ready to reopen on June 1 - education department
Basic Education Minister Angie Motshekga

AfCFTA to be continent’s main post-pandemic ‘stimulus’ lever  

By: Terence Creamer     25th May 2020 The African Continental Free Trade Agreement (AfCFTA) represents the only realistic stimulus option available to resource-constrained African governments for reigniting growth in response to the Covid-19 pandemic, AfCFTA secretary-general Wamkele Mene avers. The global response to the virus had... 

AfCFTA secretary-general Wamkele Mene on the impact of Covid-19 on the trade agreement and its role in reigniting growth across the continent. Camera Work: Kutlwano Matala. Editing: Nicholas Boyd.

New emissions blow for VW as German court backs damages claims

By: Reuters     25th May 2020 Volkswagen must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted. The ruling by Germany’s highest court for civil disputes, which will allow owners to... 

WEF launches blockchain principles to protect users

By: Schalk Burger     25th May 2020 The World Economic Forum (WEF) on May 22 launched 16 user rights for building blockchain applications that respect participant rights, safeguard data and protect users, and to serve as the foundational values for a decentralised future. "For blockchain technology to scale in its next phase,... 

African countries must strengthen their agricultural, especially food, production

By: Rebecca Campbell     25th May 2020 A recent two-day webinar hosted by the African Development Institute, a unit of the African Development Bank (AfDB), saw delegates call on African countries to put in place, and carry out, policies to strengthen their agricultural sectors. This would include agricultural processing, trade and... 

Alert Level 3 might save teetering construction companies

By: Donna Slater     25th May 2020 Construction companies that are on the verge of collapse after having shuttered operations during Alert Level 4 and 5 of the national Covid-19 lockdown might now be saved with a move to Alert Level 3 when construction is permitted to resume, says Construction Covid-19 Rapid Response Task Team... 

AMSA welcomes move to Level 3 in nationwide lockdown

By: Simone Liedtke     25th May 2020 Steel company ArcelorMittal South Africa (AMSA) has welcomed the announcement by President Cyril Ramaphosa that the country will be moving to Level 3 in the risk-adjusted approach to the easing of the nationwide lockdown.  At Level 3, AMSA will be able to operate with 100% of its workforce, but... 

Renewables associations call for green hydrogen focus in upcoming EU plans

By: Marleny Arnoldi     25th May 2020 Ten solar and wind associations, along with industry leaders, have launched a joint initiative − Choose Renewable Hydrogen − and are calling for the European Commission to prioritise renewable green hydrogen in its upcoming recovery and strategy decisions. The initiative aims to highlight the... 

EPP revokes paying interim dividend

By: Marleny Arnoldi     25th May 2020 In light of uncertain trading conditions and the difficulty in determining the impact of Covid-19, JSE-listed real estate investment trust EPP has decided to revoke its dividend declaration for the six months ended December 31, 2019. The Poland-focused developer initially delayed the payment of... 

Lockdown Level 3: Squabble over 'tender' disrupts delivery of PPEs to some Gauteng schools

By: News24Wire      25th May 2020 Two districts in Gauteng have experienced disruptions in the delivery of personal protective equipment to schools, Education MEC Panyaza Lesufi says. Lesufi visited Bryanston High School on Monday, where he conducted a visit to monitor its readiness and to give an update on the progress of... 

Lesedi appoints new nonexecutive director

By: Donna Slater     25th May 2020 Engineering procurement and construction company Lesedi has appointed Makole Mupita as a new nonexecutive director to its board. Mupita is a chartered accountant with more than 20 years of professional experience within the financial services sector.  

M&R says order book remains healthy, despite delayed projects

By: Marleny Arnoldi     25th May 2020 JSE-listed engineering and construction group Murray & Roberts (M&R) says few of its projects have continued with little or no disruption as a result of Covid-19-related suspensions and restrictions. As a result, the company is reasonably certain that its earnings per share (EPS) for the... 

OneAfrica launches food voucher campaign, calls on S Africans to help

By: Thabi Madiba     25th May 2020 South African public benefit organisation OneAfrica has kicked off its Food Essentials Platform as part of its relief effort during the coronavirus pandemic and has further donated 1 000 food vouchers to support vulnerable households. Details of OneAfrica’s initiative can be found on its website... 

OneAfrica launches food voucher campaign, calls on S Africans to help

Leading aerospace journal suggests that the A380 Superjumbo is doomed

By: Rebecca Campbell     25th May 2020 Renowned British aviation weekly Flight International has opined, in its latest edition, that the Airbus A380 Superjumbo airliner is already “heading for the scrapyard”, even though it entered service only a little more than ten years ago. This was despite its popularity with passengers, for whom... 

Leading aerospace journal suggests that the A380 Superjumbo is doomed
Photo by British Airways
An Airbus A380 of British Airways over Table Bay, with part of Cape Town in the background

Alcohol industry submits safety protocol proposals to govt

By: Simone Liedtke     25th May 2020 The South African alcohol industry, which employes more than one-million people across the value chain, has submitted various proposals, including safety protocols for the manufacturing, distribution and trading of alcohol, to the Department of Trade, Industry and Competition (DTIC). South... 

Alert Level 3 to bring relief for construction industry

By: Donna Slater     25th May 2020 KwaZulu-Natal-based construction industry representative organisation Master Builders Association KwaZulu-Natal (MBA-KZN) reports that the move to Alert Level 3 of the national Covid-19 lockdown on June 1, will bring much-needed relief for the construction industry. The move will result in the... 

NHBRC submits Covid-19 guidelines for public comment

By: Donna Slater     25th May 2020 Housing regulator, the National Home Builders Registration Council (NHBRC), has issued guidelines to deal with the management of Covid-19 in residential construction sites, for public comment. This is part of the regulator’s efforts to ensure the spread of the virus is contained and to protect... 

Reserve Bank running out of space to keep lowering interest rates – Kganyago 

By: News24Wire      25th May 2020 The South African Reserve Bank has slashed the repo rate by 275 basis points this year to provide relief to indebted consumers and businesses as they navigate the economic shock of the coronavirus pandemic. But the central bank is slowly running out of space to further lower interest rates in... 

 Reserve Bank running out of space to keep lowering interest rates – Kganyago
SARB Governor Lesetja Kganyago

Household wealth takes R830bn knock quarter-on-quarter

By: Marleny Arnoldi     25th May 2020 A new study by insurance provider Momentum and the University of South Africa has found that households’ real net wealth had decreased by about R828-billion from the fourth quarter of last year to the first quarter of this year. Momentum economist Johann van Tonder says this estimated real... 

Household wealth takes R830bn knock quarter-on-quarter

Select Committee says DMRE is improving its service delivery

By: Marleny Arnoldi     25th May 2020 The Select Committee on Land Reform, Environment, Mineral Resources and Energy has welcomed the plan to implement the proposed nuclear new build programme at a scale and pace that the country can afford to ensure the security of energy supply. The Department of Mineral Resources and Energy... 

Tiger Brands expects at least R500m profitability knock owing to Covid-19

By: Marleny Arnoldi     25th May 2020 Consumer packaged goods company Tiger Brands says it experienced challenges within its Grains, Groceries, Value Added Meat Products (Vamp) and Exports divisions in the six months ended March 31. So much so that its earnings per share (EPS) were down 75% year-on-year to 221c apiece, and its... 

Tiger Brands expects at least R500m profitability knock owing to Covid-19

Atlantic Leaf directors, main shareholder in favour of Apollo buyout

By: Marleny Arnoldi     25th May 2020 JSE-listed and UK-focused real estate investment trust Atlantic Leaf Properties has entered into an implementation agreement with South Downs Investment (SDI), which intends to acquire the issued share capital of Atlantic for £152-million. This values Atlantic at a price at 80.5p, or R17.30, a... 

AMCU calls for testing of all employees at affiliated workplaces 

By: Donna Slater     25th May 2020 The Association of Mineworkers and Construction Union (AMCU) has again called on employers to test all employees for Covid-19 as the pandemic continues to spread across South Africa. AMCU notes that while it has consistently called for the testing of all workers, the official stance of... 

Work resumes on N2 Msikaba bridge project 

By: Irma Venter     25th May 2020 Work has started on the foundations for the Msikaba bridge being constructed by Concor Infrastructure, in joint venture (JV) with Mota-Engil Construction South Africa (MECSA). The R1.65-billion contract is poised to deliver the longest cable-stayed bridge in Africa.  

Work resumes on N2 Msikaba bridge project
Aerial view of the south side of the Msikaba project

African economic integration still has a long way to go, reveals new report

By: Rebecca Campbell     25th May 2020 The African Development Bank (AfDB), the African Union Commission (AUC) and the United Nations Economic Commission for Africa (ECA) have jointly called for African countries to strengthen their economic integration. They made this call at the recent launch of the Africa Regional Integration Index... 

Africa proactive in implementing measures to flatten Covid-19 curve – Ramaphosa

By: Thabi Madiba     25th May 2020 As the African continent celebrates Africa Day on Monday amid the global coronavirus pandemic, South African President Cyril Ramaphosa acknowledged that despite the resource challenges facing the continent, governments have been swift and proactive in implementing measures in the fight against... 

Africa proactive in implementing measures to flatten Covid-19 curve – Ramaphosa
President Cyril Ramaphosa

Covid-19 workplace protocols must become ‘second nature’ for any further lockdown easing 

By: Terence Creamer     25th May 2020 Organised business has called for domestic firms to take steps to ensure that their workplaces are Covid-19-ready in light of President Cyril Ramaphosa’s May 24 announcement that the country would transition from lockdown Level 4 to Level 3 from June 1, a move that will result in many more South... 

Covid-19 workplace protocols must become ‘second nature’ for any further lockdown easing
Photo by Creamer Media's Donna Slater
Busa president Sipho Pityana

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