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Denel confirms salary cut; union expresses shock and concern

By: Rebecca Campbell     Updated 6 hours 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 6 hours 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

Group Five chair, three directors quit amid business rescue

By: African News Agency      Updated 1 hour 16 minutes ago Embattled construction engineering company, Group Five, on Tuesday announced the resignation of four directors, including board chairperson Nonyameko Mandindi with immediate effect.  The group said that other non-executive directors who have resigned were Michael Upton, Edward Williams and Cora... 

Omnia posts full-year loss on mix of negative drivers

By: Reuters     Updated 6 hours 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... 

SABS warns of delays in issuing customer test certificates

By: Creamer Media Reporter      Updated 6 hours ago The South African Bureau of Standards (SABS) has warned of delays in testing and the issuing of customer test certificates after electrical cable theft in the Pretoria area disrupted testing conditions in its laboratories. The cable theft in the Groenkloof area of Pretoria, in May, caused a power... 

EPP forms JV to manage Poland office buildings

By: Creamer Media Reporter      Updated 4 hours ago JSE-listed property company EPP has established a joint venture with pan-European private equity real estate platform Henderson Park, which will acquire a 70% interest in EPP's Polish office building portfolio. EPP will retain a 30% interest in the portfolio, which comprises 11 newly built office... 

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

By: African News Agency      Updated 7 hours 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 7 hours 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”. 

Extreme weather is shaking up Africa's corn trade

By: Bloomberg     Updated 4 hours ago At least three African nations will need to import more corn this year after extreme weather from cyclones to drought devastated crops, sparking some unusual trade flows. Corn is a staple grain across much of sub-Saharan Africa, where it’s milled and cooked with water to form a porridge or stiff... 

Campaign groups accuse Total of breaching French corporate duty law in Uganda

By: Reuters     Updated 8 minutes ago French and Ugandan campaign groups including Friends of the Earth have filed a legal notification with Total, claiming it has failed to address the human and environmental impact of its Ugandan operations as required by French law. Under France's Corporate Duty of Vigilance regulation, large... 

Aveng finalises water business sale

By: Marleny Arnoldi     Updated 17 minutes ago JSE-listed construction company Aveng on Tuesday received R85-million from Infinity Partners as payment for the sale of the Aveng Water business. Aveng announced the sale to the 100% black-owned company in January, with an original selling price of R95-million, which was subsequently reduced... 

Mining, renewable energy the construction sector’s only hope – FNB

By: Marleny Arnoldi     Updated 18 minutes ago The First National Bank (FNB)/Bureau for Economic Research Civil Confidence Index (CCI) remained at an all-time low during the second quarter of the year. Underpinning the depressed confidence in the industry was a further decline in construction activity, which led to paper-thin profit margins.  

Kenya government, Tullow Oil, Africa Oil and Total sign deal to develop crude oil facility

By: Reuters     Updated 25 minutes ago Kenya's government, and oil firms Tullow Oil, Total and Africa Oil Corp have signed agreements for the development of a 60 000 bbl/d to 80 000 bbl/d crude oil processing facility for oil discovered in the country's north west, the Petroleum and Mining Ministry said on Tuesday. The ministry said... 

Etion profit falls on economic troubles

By: Natasha Odendaal     Updated 38 minutes ago A “severe” downturn in South Africa’s economic environment plunged JSE-listed Etion into the red for the financial year ended March 31. The group on Tuesday posted a headline and basic loss a share of 0.56c, a 108% decline on the basic earnings a share of 7.26c reported for the prior financial year. 

Amsol continues to make strides on economic empowerment

By: Marleny Arnoldi     Updated 1 hour 1 minute ago Specialist marine solutions provider African Marine Solutions’ (Amsol’s) employee share ownership scheme has benefited about 370 employees, who own shares for the first time. The scheme was introduced in 2016 and has developed into a catalyst for economic empowerment and shared value creation... 

Glencore cuts out agents and dealmakers as scrutiny grows 

By: Bloomberg     Updated 1 hour 7 minutes ago Glencore is cutting out many of its intermediaries – the agents and dealmakers once essential to cracking the toughest markets – amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading... 

Work to end Joburg water shutdown progressing as scheduled – Rand Water

By: News24Wire      Updated 3 hours ago Johannesburg’s leading bulk water supplier, Rand Water, says its work on the B11 pipeline shutdown is progressing according to schedule.  "The technical teams worked throughout the night and achieved the set project milestones. The work is on target," spokesperson Justice Mohale said, as the... 

Work to end Joburg water shutdown progressing as scheduled – Rand Water

SA adds 22 000 jobs in first quarter of 2019 – Stats SA

By: News24Wire      Updated 3 hours ago Employment in South Africa's non-agricultural formal sector grew by 22 000 in the first quarter of 2019, Stats SA announced on Tuesday in its latest Quarterly Employment Statistics bulletin. This follows an increase of 87 000 jobs in the last quarter of 2018. Stats SA reported that employment... 

SA adds 22 000 jobs in first quarter of 2019 – Stats SA

Oil steadies as Iran tensions mingle with economic concerns

By: Bloomberg     Updated 3 hours ago Oil steadied after rallying almost 8% in three days as investors weighed the risks of a supply disruption in the Middle East against concerns over the global economy and demand. Futures were little changed near $58/bl in New York. President Donald Trump imposed sanctions on Iran’s supreme leader,... 

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... 

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

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

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... 

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

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... 

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

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... 

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... 

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

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... 

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

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

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

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,... 

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... 

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