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SA govt urges developing countries to respond to anti-globalisation initiatives

By: African News Agency      Updated 3 hours ago The South African government on Monday, urged the 22 countries that belong to the Indian Ocean Rim Association (IORA) to discuss how to respond to the anti-globalisation initiatives that were arising from powerful countries in the world. Sipho Zikode, deputy director-general of special economic... 

SA govt urges developing countries to respond to anti-globalisation initiatives
President Cyril Ramaphosa

Drought leaves key African hydro dam less than a third full

By: Bloomberg     Updated 38 minutes ago A regional drought has reduced water levels at Kariba Dam, the main source of power for Zambia and Zimbabwe, to less than a third of its capacity. The dam is only 29% full, compared with 88% a year ago and 31% at the start of June, the Zambezi River Authority said in an emailed statement on... 

South Africa finds a credit rating, once lost, is hard to regain

By: Bloomberg     Updated 5 minutes ago Lesetja Kganyago, then the top official at South Africa’s National Treasury, was taking a break at Sugarloaf Mountain in Rio de Janeiro between two G20 meetings in November 2008 when he got the bad news. Barely three years after his country had managed to get its highest-ever investment-grade... 

Cargo handled by Kenya's Mombasa port up 6% in eleven months to May

By: Reuters     Updated 13 minutes ago Kenya’s main port of Mombasa handled 6.3% more cargo in the last eleven months thanks to higher efficiency, a surge in imports and greater capacity after the port was expanded, the facility's management said on Monday. The rise in cargoes came despite uncertainty after 75 tax agency staff... 

Egypt's Tourah Cement stops production due to oversupply

By: Reuters     Updated 1 hour 31 minutes ago Egyptian cement maker Tourah Cement, a subsidiary of Germany's HeidelbergCement , says it has suspended production because of financial distress caused by oversupply in the Egyptian market and is considering liquidation. "Estimated cement consumption during 2019 will end at around 50-million... 

Congo court upholds suspension of Vodacom's 2G licence

By: Reuters     Updated 1 hour 59 minutes ago A court in Democratic Republic of Congo on Monday upheld the government's suspension of the second-generation (2G) telecoms licence of Vodacom Group's local unit, an official at the telecommunications ministry said. John Aluku, the minister's chief of staff, said that the Council of State issued... 

Salga appoints new president

By: Tasneem Bulbulia     14th June 2019 The South African Local Government Association’s (Salga's) National Executive Committee has appointed Councillor Thembisile Nkadimeng as president of the association.  She succeeds former Salga president Parks Tau, who has been appointed Deputy Cooperative Governance and Traditional Affairs... 

Salga appoints new president
Thembisile Nkadimeng

Mergence’s investment in Namibian solar plant signals further localisation

By: Tasneem Bulbulia     14th June 2019 Local asset manager Mergence Unlisted Investment Managers (Namibia) has bought a majority stake in the 6 MW Momentous Solar One plant, near Keetmanshoop, in Namibia. “The purchase of a majority stake in the Keetmanshoop project signals a positive trend to localisation of the industry – a solar... 

Mergence’s investment in Namibian solar plant signals further localisation
Momentous Solar One solar energy plant

AMIE calls on government to lead formulation of a national poultry strategy

By: Tasneem Bulbulia     14th June 2019 The right of South Africans to access a prime source of dietary protein must outweigh the factional interests of sectors of the poultry producing industry, the Association of Meat Importers and Exporters (AMIE) said on Friday, when it called on government to arbitrate in the brewing tariff battle... 

Reviving South Africa’s economy requires active involvement by all citizens – Neasa

By: Tasneem Bulbulia     14th June 2019 National Employers’ Association of South Africa (Neasa) CE Gerhard Papenfus has called on all South Africans to create the environment they envision, instead of waiting on government to ensure a conducive climate for greater economic growth. Papenfus says it is possible that the ideal environment... 

South African Express says that it is turning itself around

By: Rebecca Campbell     14th June 2019 South African State-owned regional airline SA Express (SAX) affirmed on Friday that it was making substantial progress in its turnaround programme. It has also been taking action against employees found to have been engaged in wrongdoing. All those employees who have been charged with offences,... 

South African Express says that it is turning itself around
A CRJ-700 of SA Express

Naamsa seeks quick end to wage negotiations in auto sector

By: Irma Venter     14th June 2019 The National Association of Automotive Manufacturers of South Africa (Naamsa) wants the quickest possible resolution to the looming wage negotiations between vehicle manufacturers and the National Union of Metalworkers of South Africa (Numsa), says  Naamsa executive director and CEO Mike Mabasa.... 

Naamsa seeks quick end to wage negotiations in auto sector

Good news for SA motorists! Huge 91c fuel price drop – AA

By: News24Wire      14th June 2019 Retreating oil prices have painted a rosier picture for South African fuel users than has been the case for much of 2019.  This is according to the Automobile Association which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. At this stage of the month,... 

Good news for SA motorists! Huge 91c fuel price drop – AA

Atterbury’s Western Cape office relocated to Stellenbosch heritage building

By: Nadine James     14th June 2019 Atterbury’s new Western Cape office is the La Gratitude Manor House – an iconic building, national monument and the second-oldest building in Stellenbosch. Atterbury’s decision to move its Western Cape head office was based primarily on its space requirements, but Atterbury Western Cape... 

Atterbury’s Western Cape office relocated to Stellenbosch heritage building
La Gratitude

AST declares maiden quartz resource, celebrates with inaugural blast

By: Nadine James     14th June 2019 AST Sand Mines’ Van Dykspruit quarry, on the border between Gauteng and Mpumalanga, on Friday declared its maiden quartzite-roadstone resource. AST management also oversaw the inaugral blast that would provide access to the underlying high-grade quartzite rock. 

AST declares maiden quartz resource, celebrates with inaugural blast
Van Dykspruit Quarry

Airbus signs amended contract with launch customers for A400M airlifter

By: Rebecca Campbell     14th June 2019 The Airbus group announced in Amsterdam on Friday that it had signed an amendment to its contract with OCCAR (the French acronym for the Organisation for Joint Armament Cooperation) for the A400M military airlift aircraft. The OCCAR member states are Belgium, France, Germany, Italy, Spain and the... 

Airbus signs amended contract with launch customers for A400M airlifter
Photo by Airbus
An Airbus A400M

Fortress joins programme to help emerging property businesses grow

By: Simone Liedtke     14th June 2019 Growthpoint initiative Property Point and JSE-listed Fortress Real Estate Investment Trust (REIT) have partnered to roll out an enterprise and supplier development (ESD) programme in the property sector. The programme provides extensive insight to small businesses on becoming market and funding... 

Growthpoint’s Oxford road development to be completed by October

By: Nadine James     14th June 2019 Growthpoint Properties’ multimillion-rand 144 Oxford road development is set for completion in October. The nine-storey, 35 000 m2 office development comprises two office towers. Designed by Paragon Architects, the building comprises a northern and southern wing connected by a central link. 

Growthpoint’s Oxford road development to be completed by October
144 Oxford Road artist impression

Unions agree to give SAA one week to deal with their demands on Jarana

By: African News Agency      14th June 2019 Workers unions at the South African Airways said on Friday the State-owned airline has requested one week to deal with their demands of reinstating Vuyani Jarana as group chief executive and a complete overhaul of the board. This as the National Union of Metalworkers of South Africa and the South... 

Unions agree to give SAA one week to deal with their demands on Jarana
Photo by Creamer Media
Former SAA CEO Vuyani Jarana

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Commission approves M&R's buyout of Opti Power Projects

By: Creamer Media Reporter      14th June 2019 The Competition Commission has approved Murray & Roberts' (M&R's) proposed buyout of Opti Power Projects and Opti Power HR. Opti Power provides power transmission and distribution services. 

Etion to report full-year earnings dip

By: Natasha Odendaal     14th June 2019 JSE-listed Etion expects to report lower headline earnings a share and earnings a share for the financial year ended March 31. The group anticipates a drop in earnings of between 95.86% and 98.62%, compared with the 7.26c posted the year before. 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA 

By: Terence Creamer     14th June 2019 Hydrogen and hydrogen-based fuels could help facilitate the decarbonisation of a range of sectors where the pathway for achieving meaningful emission reductions is currently uncertain or difficult, a new global study argues. Released by the International Energy Agency (IEA) at a meeting of G20... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA

Kganyago says model shows room for rate cuts 

By: Bloomberg     14th June 2019 The South African Reserve Bank’s forecasting model suggests there might be room for interest-rate cuts in the next year or two, given how weak the economy is, Governor Lesetja Kganyago said. While the central bank can play a role to help economic growth, decisions should be supported by other... 

Kganyago says model shows room for rate cuts
Photo by Bloomberg
Reserve Bank governor Lesetja Kganyago

Omnia flags full-year loss

By: Reuters     14th June 2019 South African chemicals and fertiliser maker Omnia Holdings said on Friday it expected to report a full-year loss as drought, a volatile currency, changes in the mining industry and difficult global trading conditions weighed on earnings. The firm said the headline loss per share, the main profit... 

Collaboration seen as key to unlocking South Africa’s industrial potential 

By: Simone Liedtke     14th June 2019 The revival of South Africa’s flagging manufacturing sector is core to President Cyril Ramaphosa’s broader economic recovery plan. The importance attributed to manufacturing can be seen in the President’s decision to appoint the experienced Ebrahim Patel to lead the newly restructured Trade and... 

Collaboration seen as key to unlocking South Africa’s industrial potential

Opinion: Why should South Africa champion electric vehicles?

By: Tobias Bischof-Niemz     14th June 2019 South Africa’s industrial, transport, energy, trade and fiscal policies remain heavily geared towards the private automobile and, more specifically, ones powered by the internal combustion engine (ICE). The Automotive Production and Development Programme, which incentivises the assembly of ICEs... 

Opinion: Why should South Africa champion  electric vehicles?
Photo by Creamer Media
Dr Tobias Bischof-Niemz

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      14th June 2019 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

Renewable energy jobs reach 11m

By: Tasneem Bulbulia     13th June 2019 Eleven-million people were employed in renewable energy worldwide in 2018, International Renewable Energy Agency’s (Irena’s) ‘Renewable Energy and Jobs Annual Review 2019’ reveals. This represents an increase on the 10.3-million people employed in the industry in 2017. 

Nestlé launches R&D innovation challenge in South Africa

By: Tasneem Bulbulia     13th June 2019 Nestlé on Thursday launched a research and development (R&D) innovation challenge in South Africa as part of the company’s efforts to contribute to the local innovation ecosystem. Nestlé’s goal is to work collaboratively with startups and universities to identify sustainable and scalable science... 

South Africans urged to remain mindful of the bigger picture amid economic downturn

By: Simone Liedtke     13th June 2019 Even though South Africa is considered “a country of deficits”, Efficient Group chief economist Dawie Roodt on Thursday encouraged South African businesses and private persons to continue monitoring the country’s economic situation. An economy, he said, was “a gradual process” and would not come... 

South Africans urged to remain mindful of the bigger picture amid economic downturn
Photo by Creamer Media's Dylan Slater
Efficient Group chief economist Dawie Roodt

ACSA appoints new acting CFO

By: Simone Liedtke     13th June 2019 Lindani Mukhufwani has been appointed acting CFO of Airports Company South Africa, effective June 13. She succeeds Dirk Kunz, who has been acting CFO since January 2017. 

Seychelles floating solar project moves into next phase of implementation

By: Tasneem Bulbulia     13th June 2019 The government of Seychelles has launched a request for proposals (RfP) process for an independent power producer floating solar photovoltaic project. A group of prequalified bidders, which were selected in 2018 as part of the first phase of procurement, will be required to submit their full... 

Dubai chamber to host global business forum on Africa in November

By: Tasneem Bulbulia     13th June 2019 The Dubai Chamber of Commerce and Industry (Dubai Chamber) will host the fifth edition of the Global Business Forum (GBF) on Africa on November 18 and 19, in Dubai. Organised under the theme “Scale Up Africa”, GBF on Africa 2019 will bring together African and United Arab Emirates (UAE)... 

Dubai chamber to host global business forum on Africa in November
Hamad Buamim

Low business confidence to remain for foreseeable time – survey

By: Marleny Arnoldi     13th June 2019 The Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) flatlined at a “worryingly” low 28 in the second quarter of the year. The BER on Thursday stated that seven out of every ten respondents had remained unsatisfied with current business conditions... 

Competition Commission prohibits merger between forestry companies

By: Marleny Arnoldi     13th June 2019 The Competition Commission has prohibited a proposed transaction whereby Africa Forestry Fund II (AFF) intended to acquire Vuka Forestry Holdings and Glen Village Trading. The commission found that there were substantial short- and long-term anticompetitive effects that were likely to arise... 

Steel Awards attracts record number of sponsors, entries

By: Marleny Arnoldi     13th June 2019 The South African Institute of Steel Construction (Saisc) says a record number of sponsors, as well as entries, have been received for this year’s Steel Awards, which will be hosted on October 10. Fourteen steel companies have pledged their support for this year’s event, a 40% increase... 

Steel Awards attracts record number of sponsors, entries
Saisc CEO Paolo Trinchero

Sakeliga to further investigate Eskom BEE matter

By: Marleny Arnoldi     13th June 2019 Business organisation Sakeliga has instructed its legal team to evaluate a recommendation by the Broad-Based Black Economic Empowerment (BBBEE) Commission that State-owned power utility Eskom cancel a R4-billion contract awarded to Dongfang Electric Corporation. The commission on Wednesday said... 

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