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EOH says bribery, corruption limited to a few individuals, subsidiaries

By: Schalk Burger     Updated 3 hours ago JSE-listed information technology services company EOH on Tuesday revealed the preliminary findings of a forensic investigation conducted by legal firm ENSafrica into suspected bribery and corruption at the R18-billion-a-year-turnover company. EOH CEO Stephen van Coller said the scale of the... 

EOH says bribery, corruption limited to a few individuals, subsidiaries
EOH CEO Stephen van Coller

Tongaat CEO seeking to freeze payments on R11bn of debt

By: Bloomberg     Updated 5 hours ago Tongaat Hulett is asking ten lenders for a break from payments on as much as R11-billion of debt so it can recover from the impact of having to restate accounts, according to CEO Gavin Hudson. The embattled South African sugar maker is spending about R1-billion a year servicing the borrowings and... 

‘Monetisation’ of risks will be key to transitioning from climate awareness to resilience

By: Terence Creamer     Updated 5 hours ago The City of Cape Town’s ‘Day Zero’ water crisis of 2018, as well as the deadly Cyclone Idai, which ravaged parts of Mozambique and Malawi in March, has increased awareness about the need to begin investing in climate-resilient infrastructure. To transition from awareness to implementation,... 

‘Monetisation’ of risks will be key to transitioning from climate awareness to resilience
Mott MacDonald global head of climate resilience services Ian Allison

GEPF looks to invest more offshore

By: Bloomberg     Updated 5 hours ago South Africa’s Government Employees Pension Fund (GEPF) is planning to invest more of its R2-trillion under management outside the country and in unlisted assets to reduce risk of overexposure to locally traded companies. The strategy was outlined by GEPF Principal Executive Officer Abel Sithole... 

SAMI continues partnership talks with South Africa's Denel after rebuff

By: Reuters     Updated 6 hours ago Saudi Arabia's State defence company is continuing to hold commercial partnership talks with South Africa's Denel which said this month it would not sell a stake to the Saudi firm. Denel CE Danie du Toit told Reuters the state-owned company was open to partnerships but would not sell equity or... 

SAMI continues partnership talks with South Africa's Denel after rebuff

What Africa’s key central banks will discuss in the next ten days

By: Bloomberg     Updated 5 hours ago Central banks in sub-Saharan Africa’s key economies will take direction from US Federal Reserve chairperson Jerome Powell when they make calls on interest rates in the next ten days. Since the Monetary Policy Committees last met, South Africa’s statistics agency said that economy contracted the... 

BBC welcomes financial support for Black Industrialists Programme

By: Nadine James     Updated 2 hours 30 minutes ago The Black Business Council (BBC) has welcomed the announcement that R40-billion in financial support will be made available for the Black Industrialists Programme over five years. “To enhance the growth of black industrialists, we will combine the efforts of the Department of Trade, Industry and... 

Fedusa, Untu to shut down commuter train services nationwide on July 26

By: Nadine James     Updated 2 hours 12 minutes ago The Federation of Unions of South Africa (Fedusa) and its commuter rail transport affiliate, the United National Transport Union (Untu), plan to shut down Metrorail’s commuter train operations across the country on July 26. Fedusa says the shutdown is part of a national day of protest against... 

Didiza calls for conversation with land owners

By: African News Agency      Updated 3 hours ago Agriculture, Land Reform and Rural Development Minister Thoko Didiza on Tuesday called for dialogue with land owners as the department seeks to change historically skewed ownership demographics. Didiza said the department planned to "revitalise" land that was transferred through the state's... 

Didiza calls for conversation with land owners
Agriculture, Land Reform & Rural Development Thoko Didiza

Cartrack surpasses one-million subscriber mark

By: Nadine James     Updated 3 hours ago JSE-listed Cartrack has passed the one-million subscriber mark, as a result of its rapid expansion beyond Southern Africa into Europe and Asia-Pacific. In a statement on Tuesday, Cartrack Global CEO Zak Calisto confirmed that there were few global competitors of its size and even fewer which were... 

Nigeria's State oil firm awards oil-for-fuel swap deals – sources

By: Reuters     Updated 2 hours 48 minutes ago Nigerian State oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel, oil industry sources told Reuters. A total of 15 groupings, with at least 34 companies in total, received award letters, four sources with knowledge of the deals... 

Nestle finds new way to make chocolate without adding sugar

By: Bloomberg     Updated 5 hours ago Nestle has found a way to create chocolate without adding any sugar, relying on leftover material from cocoa plants for sweetening as consumers look for natural and healthier fare. The food company is using a patented technique to turn the white pulp that covers cocoa beans into a powder that... 

Sisulu promises traction in water sector

By: Natasha Odendaal     Updated 8 minutes ago The Department Water and Sanitation is taking stock as it determines the required solutions for a sector fraught with major inequalities and unequal distribution, and an “inability to uphold the right of every South African to access water”. “South Africa’s water story is not a good one,” Human... 

Sisulu promises traction in water sector
Human Settlements, Water and Sanitation Minister Lindiwe Sisulu

Gautrain adds R6.4bn to the Gauteng economy a year, says new study  

By: Irma Venter     15th July 2019 A new study on the socio-economic impact of the Gautrain indicates that the rapid-rail system adds R6.64-billion to Gauteng economy’s gross domestic product (GDP) – or 0.56% ­– during a typical year of operation. The newest study – the second – was conducted by consulting engineering firm Hatch. 

Gautrain adds R6.4bn to the Gauteng economy a year, says new study
Photo by Creamer Media's Irma Venter
Gauteng Roads and Transport MEC Jacob Mamabolo and Gautrain Management Agency CEO Jack van der Merwe

Commission finds competition distortions in public passenger transport industry

By: Marleny Arnoldi     15th July 2019 Competition Commission economist Nonkululelo Moeketsi says the commission has found various competition distortions and inefficiencies within the public passenger transport industry. Moeketsi presented preliminary findings of the inquiry into the public transport industry at the Southern African... 

Fuel cell electric vehicles set to make strong entry – visiting experts  

By: Martin Creamer     15th July 2019 There is simply no doubt that fuel cell electric vehicles (FCEVs), which use platinum group metal catalysts, will make a very strong global entry in the next decade, global experts said on Monday. Speaking to Mining Weekly Online on the eve of Nedbank’s FCEV conference in Cape Town, Professor Dr... 

Fuel cell experts talk to Mining Weekly Online’s Martin Creamer. Video: Creamer Media’s Nicholas Boyd. Photograph: Creamer Media’s Dylan Slater.

WC dam levels continue to rise, but user cautioned not to waste water

By: Natasha Odendaal     15th July 2019 The Western Cape government on Monday urged permanent behavioural change with regard to water use as average dam levels stabilised. The average level of dams across the province contracted from 48% in 2018 to 47.2% during the same period in 2019. 

South Africa’s IRPTNs remain underdeveloped

By: Marleny Arnoldi     15th July 2019 South Africa’s integrated rapid public transport networks (IRPTNs) are still largely underdeveloped and officials are still learning lessons along the way. During city-specific sessions at the Southern Africa Transport Conference, last week, Tshwane bus service A Re Yeng acting director Ruth... 

Eskom group treasurer resigns

By: Tasneem Bulbulia     15th July 2019 Eskom group treasurer Andre Pillay has tendered his resignation and will leave at the end of August. Pillay has been with Eskom since 2011, when he was appointed senior manager for funding execution in the Eskom Treasury department. He was subsequently promoted to GM (group treasurer) in... 

Cape Town SMME ‘uniquely positioned’ for export-led growth

By: Simone Liedtke     15th July 2019 Cape Town-based Cape Mohair is uniquely positioned for export-led growth following an “innovative” deal that addressed its need for new machinery and additional working capital. The mohair sock manufacturer is the latest in a long list of small, medium-sized and microenterprises (SMMEs) to... 

Good party MP to call on transport minister to address MyCiTi bus issues on the Cape Flats

By: African News Agency      15th July 2019 Good party secretary-general, Brett Herron on Monday said he will appeal to Transport Minister Fikile Mbalula to intervene in reinstating MyCiTi bus services, suspended for almost two months, to residents of Khayelitsha and Mitchells Plain. He said the City of Cape Town has abandoned almost 6,000... 

FairPlay argues association’s reasons for supporting chicken import tariffs

By: Marleny Arnoldi     15th July 2019 Nonprofit trade movement FairPlay founder Francis Baird has reiterated the importance of curbing chicken imports into South Africa, stating that a reasonable imposed tariff will level the playing field in the domestic chicken market. This was in response to Emerging Black Importers and... 

Kibo forms strategic partnership with German power plant operator

By: Tasneem Bulbulia     15th July 2019 Aim-listed Kibo Energy has signed a collaboration agreement that will result in it establishing a strategic partnership with Steag Energy Services (SES) to further develop and advance Kibo’s energy portfolio. SES is a German engineering and operations and maintenance (O&M) company within Steag’s... 

Jacob Zuma details ‘conspiracy’ against him 

By: Sashnee Moodley     15th July 2019 Former President Jacob Zuma on Monday proposed that an elaborate and detailed plan of character assassination against him beginning in 1990 up until his recent resignation as President had been pursued. While giving his long-awaited testimony at the State capture commission of inquiry, Zuma also... 

Jacob Zuma details ‘conspiracy’ against him
Photo by Reuters
Former President Jacob Zuma

Donated headsets to go a long way in helping Kruger National Park pilots

By: Yvonne Silaule     15th July 2019 Bose Aviation and Century Avionics have stepped in to assist South African National Parks pilots to communicate better with ground crews by donating 34 Bose A20 aviation headsets to the Kruger National Park. Kruger National Park communications and marketing GM Ike Phaahla said the donation would... 

Donated headsets to go a long way in helping Kruger National Park pilots
Garmir da Costa

Labour Court issues interdict to halt Port of Ngqura strike

By: Tasneem Bulbulia     15th July 2019 State-owned Transnet on Sunday said it had obtained a court interdict from the Labour Court in Port Elizabeth to stop the illegal strike action by employees at the Ngqura Container Terminal. The interdict also ordered workers to increase performance levels at the Port of Ngqura, where a “go-slow”... 

Bidvest buys Eqstra Fleet Management for R3bn

By: Marleny Arnoldi     15th July 2019 JSE-listed services, trading and distribution company Bidvest has entered into an agreement to acquire Eqstra Fleet Management and Logistics from JSE-listed industrial group enX for an enterprise value consideration of R3.1-billion. Eqstra provides full fleet management solutions, including... 

Total South Africa achieves Level 1 BBBEE rating

By: Marleny Arnoldi     15th July 2019 Petrochemicals company Total South Africa has achieved a Level 1 broad-based black economic empowerment rating. Total has since 2003 implemented a dedicated transformation strategy, which includes 52% black ownership, skills development programmes, preferential procurement, enterprise and... 

AB InBev seeks plan B after investors bail on Asian IPO

By: Bloomberg     15th July 2019 Anheuser-Busch InBev's shares fell after the demise of a blockbuster initial public offering of the brewer’s Asian business, leaving the company in a bind. After reversing course on Friday over plans to sell a stake in the unit to raise as much as $9.8 billion, the Budweiser owner needs to find a... 

Eskom’s quickest fix is giving it cash now, swapping debt later

By: Bloomberg     15th July 2019 Ask Nedbank Group CEO Mike Brown how to save South Africa’s beleaguered State-owned power utility and his approach is simple: first give it cash and then consider a debt-to-equity swap later. Eskom Holdings is paying so much in interest on its debt – at the same time that its income is falling –... 

South African Navy falling behind other navies in Africa 

By: Kim Cloete     15th July 2019 Hit by budget cuts over the past few years, the South African Navy is bucking the regional trend and falling behind other navies in Africa, says the Chief of the South African Navy, Vice Admiral Mosiwa Samuel Hlongwane. “The naval balance of power is shifting on our continent,” Hlongwane told the... 

South African Navy falling behind other navies in Africa

Financial constraints pose threat to the South African Navy, says Gulube

By: Kim Cloete     12th July 2019 Financial constraints and limited resources pose a "critical problem" to the running of the South African Navy and the South African National Defence Force as a whole, says South Africa’s Secretary for Defence, Sam Gulube. “The challenges pose a serious and critical problem for the continued... 

IDC drives development in Mpumalanga

By: Marleny Arnoldi     12th July 2019 Funding provided by the Industrial Development Corporation (IDC) has helped start-up recycling company Mihula Holdings increase its staffing levels to eight people. The IDC in March provided funding to enable Mihula to buy a baler and trucks for collecting raw material. 

IDC drives development in Mpumalanga

Hulamin earnings to fall on lower rolled products, automotive demand

By: Tasneem Bulbulia     12th July 2019 A sharp decline in demand in the US common alloy market following overstocking, as well as a reduction in demand for heat-treated plate, has had a severe impact on the financial performance of Hulamin’s rolled products division in the first half of the current financial year. The JSE-listed... 

Council pursuing sustainable initiatives for property sector transformation

By: Tasneem Bulbulia     12th July 2019 The property sector achieved a mixed performance in terms of broad-based black economic empowerment (BBBEE) over the past year, Property Sector Charter Council (PSCC) CEO Portia Tau-Sekati said on Thursday. She was speaking at the PSCC seminar, in Johannesburg, during which the entity’s ‘2019... 

Council pursuing sustainable initiatives for property sector transformation
Portia Tau-Sekati

City of Joburg takes construction approvals system online

By: Tasneem Bulbulia     12th July 2019 The City of Joburg (CoJ) will roll out a Building Application System to optimise the process of securing construction approvals and permits, thereby moving away from manual processes to a streamlined, efficient online solution.  This forms part of CoJ’s plan to bolster economic growth in the city... 

Aveng disposes of Rand Roads business unit

By: Tasneem Bulbulia     12th July 2019 Aveng has entered into a fully funded binding sale of business agreement with Ultra Asphalt for the sale of its Rand Roads business unit, subject to certain conditions. This followed a strategic review concluded last year wherein the business was identified as noncore. 

International AIV consortium completes work ahead of SKA construction

By: Simone Liedtke     12th July 2019 The international engineering consortium tasked with planning the assembly, integration and verification (AIV) of the SKA radio telescope has formally completed its work, representing another crucial step towards the construction of the world’s largest radio telescope. The work completed by the... 

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