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Vehicle prices increasing sharply – TransUnion

By: Irma Venter     Updated 24 minutes ago The latest TransUnion South Africa Vehicle Pricing Index (VPI) reveals some bad news for prospective car buyers: new-vehicle prices rose by almost three times the current inflation rate in the first quarter of the year and are expected to continue increasing in coming months.  At the same time,... 

Vehicle prices increasing sharply – TransUnion

Durban Port's return to form vital for South African recovery, says Ramaphosa

By: News24Wire      Updated 43 minutes ago President Cyril Ramaphosa told the National Assembly of Parliament that government's plans to guide South Africa on the path to economic recovery will not succeed unless the Port of Durban is restored to its former glory. Ramaphosa was replying orally to questions from Members of Parliament on... 

2021 market to be determined by stock availability – Toyota, Hino 

By: Irma Venter     6th May 2021 The size of the South African new-vehicle market will be determined by the availability of stock this year, says Toyota South Africa Motors (TSAM) sales and marketing senior VP Leon Theron. “It’s a weird, weird year. The market is quite difficult to call. 

2021 market to be determined by stock availability – Toyota, Hino
The new Hino 300

SA’s Supreme Spring and Ghana’s Springs and Bolts sign MoU 

By: Irma Venter     6th May 2021 The African Association of Automotive Manufacturers (AAAM) has welcomed the signing of a memorandum of understanding (MoU) between Supreme Spring, a subsidiary of JSE-listed group Metair, and Springs and Bolts, based in Ghana. Supreme Spring MD Mark Barley and Springs and Bolts CEO Derrick... 

SA’s Supreme Spring and Ghana’s Springs and Bolts sign MoU
The Supreme Spring, and Springs and Bolts teams at the South African facility

Aspen says it can produce generic Covid-19 vaccines in SA amid US support for patent waiver 

By: News24Wire      Updated 1 hour 9 minutes ago On Thursday, the US shocked many by announcing that it would support a temporary patent waiver on Covid-19 vaccines. Currently, only pharmaceutical companies that own the patents for the vaccines are allowed to manufacture the jabs. But lifting the patent rights means that they will lose this... 

Long delay in dividend flows to renewables-linked community trusts impeding effectiveness 

By: Terence Creamer     6th May 2021 The long lag between the establishment of community trusts that own a portion of the independent power producer (IPP) projects procured through South Africa’s renewables procurement programme and the flow of dividend income into these trusts has been identified in a new research report as a major... 

Long delay in dividend flows to renewables-linked community trusts impeding effectiveness

PG Bison to add new MFB press, hot coating line at its Boksburg operation

By: Schalk Burger     7th May 2021 Wood-based panel products manufacturer PG Bison has received approval from parent company KAP Industrial Holdings for the purchase of a new melamine-faced board (MFB) press and an additional hot coating line. The MFB press and hot coating line will be located at its Boksburg site, in Gauteng, and... 

Successful localisation programme requires consistent renewables procurement pipeline

By: Schalk Burger     6th May 2021 To achieve a successful localisation programme with incremental local content thresholds as part of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), a consistent procurement pipeline needs be established, says industry association South Africa Wind Energy... 

Local e-waste skills NGO joins global recycling initiative

By: Schalk Burger     7th May 2021 Local recycling skills development nongovernmental organisation (NGO) The Appliance Bank (TAB) has partnered with global recycling initiative Sustainable Recycling Industries (SRI) in a project that aims to create economic opportunities while ensuring workable and safe solutions for the... 

IFC, Absa partner on green loan for energy projects

By: Schalk Burger     6th May 2021 International financial institution the International Finance Corporation (IFC) has provided financial services group Absa with a loan of up to $150-million to support the bank’s strategy to expand its climate finance business and help South Africa meet its greenhouse-gas (GHG) reduction targets.... 

Averda completes $148m refinancing, secures $30m green loan from HSBC

By: Schalk Burger     6th May 2021 Waste and recycling multinational Averda has concluded a successful refinancing of its $148-million term loan and secured a $30-million green loan from banking group HSBC to invest in circular economic activities in the emerging economy markets it serves. For a circular economy to become a... 

Ramaphosa, Patel welcome support for IP waiver on vaccines

By: Marleny Arnoldi     6th May 2021 President Cyril Ramaphosa has welcomed the US’s decision to support a waiver on certain intellectual property (IP) rights provisions covering Covid-19 vaccines. During his term as chairperson of the African Union that ended in February this year, Ramaphosa had championed the call for fair... 

Sappi says recovery steady in second quarter as Ebitda climbs

By: Schalk Burger     6th May 2021 Pulp and paper producer Sappi says its operations are steadily recovering from the ongoing challenges of the Covid-19 pandemic. For the quarter ended March 31, its earnings before interest, taxes, depreciation and amortisation (Ebitda) continued to improve to $112-million, compared with... 

Mondi’s strong performance driven by sustainable packaging, e-commerce

By: Simone Liedtke     6th May 2021 Strong demand, supported by paper manufacturer Mondi’s range of innovative and sustainable packaging solutions alongside higher average containerboard selling prices, as well as strong cost control measures continued to support the company’s performance in the first quarter of this year. This was... 

Post-pandemic recovery must be sustainable, inclusive

By: Tasneem Bulbulia     6th May 2021 Efforts to accelerate the post-Covid-19 recovery in South Africa must be done sustainability and in an inclusive manner, speakers said during the Financial Services Working Group of the South African chapter of the Brazil, Russia, India, China and South Africa (Brics) Business Council’s webinar... 

Prevailing low capacity use in manufacturing industry a worry for Seifsa

By: Donna Slater     6th May 2021 Persistent low levels of capacity use in the manufacturing sector and low demand for locally manufactured goods are “worrying” trends compounding the prevailing Covid-19 restrictions that are limiting operations at industrial plants, says the Steel and Engineering Industries Federation of... 

Housing authority delivered 14 000 units in 2020, asks for budget reform

By: Marleny Arnoldi     6th May 2021 Social Housing Regulatory Authority (SHRA) council chairperson Bathabile Dlamini says the 2019/20 financial year had seen “encouraging” performance in that 13 projects were completed, delivering almost 14 000 units. Although the target for the year was not met, it is a solid achievement, she... 

Potatoes South Africa calls for more partnerships between commercial, small-scale producers

By: Marleny Arnoldi     6th May 2021 Despite having proved resilience last year by producing 2.6-million tonnes, the South African potato industry is appealing to stakeholders to form more partnerships to drive growth and transformation. Potatoes South Africa (PSA) CEO Willie Jacobs highlights that the potato helped ensure food... 

Potatoes South Africa calls for more partnerships between commercial, small-scale producers

PIC acquires Deloitte building in Midrand to add to GEPF portfolio

By: Donna Slater     6th May 2021 The Public Investment Corporation (PIC) has concluded a purchase agreement to acquire 100% of the leasehold rights, which include the office building and letting enterprise, housing Deloitte as the anchor tenant, in the prime location of Waterfall City, in Midrand, Gauteng. The asset was... 

Massmart opens new distribution centre in Brackenfell

By: Marleny Arnoldi     6th May 2021 Consumer goods distributor Massmart has opened its new 53 000 m2 distribution centre (DC) in the Brackengate 2 precinct, in Brackenfell, Cape Town. Construction on the centre started in October 2019.  

Massmart opens new distribution centre in Brackenfell
Massmart's new Brackengate-based distribution centre

Teraco becomes MÉTISS node, boosts regional interconnection

By: Schalk Burger     6th May 2021 Data centre operator Teraco on May 6 said it had become an integral node to the Meltingpot Indianoceanic Submarine System (MÉTISS) – a 3 200 km subsea fibre-optic cable system connecting South Africa to the Indian Ocean islands of Madagascar, Reunion and Mauritius. MÉTISS consortium members have... 

Production starts at Total’s Zinia project in Angola

By: Simone Liedtke     6th May 2021 Production from the Zinia Phase 2 short-cycle project, which is connected to the existing Pazflor’s floating production, storage and offloading (FPSO) unit in Angola, has started. The project is operated by petroleum refiner Total, which is the joint operator of Block 17 in Angola, together with... 

Production starts at Total’s Zinia project in Angola
Pazflor's FPSO

Iata welcomes G20 guidelines for restart of international tourism

By: Rebecca Campbell     6th May 2021 The International Air Transport Association (Iata) – the global representative body for the airline industry – has welcomed the agreeing, by the Tourism Ministers of the Group of 20 countries (G20), of the ‘Rome Guidelines for the Future of Tourism’. The association urged the G20 governments to... 

SpaceX scores success with fifth test flight of its new Starship spacecraft

By: Rebecca Campbell     6th May 2021 SpaceX’s latest crewed spaceship design, the Starship, made its first fully successful test flight on Wednesday. This was the fifth such attempt, the previous four all seeing the rockets concerned blowing up, at different stages of the flight profile. This fifth flight involved an improved... 

SpaceX scores success with fifth test flight of its new Starship spacecraft
Photo by SpaceX
Starship SN15 launching from Starbase

Jupiter space probe arrives at research centre in the Netherlands for crucial tests

By: Rebecca Campbell     6th May 2021 The European Space Agency (ESA) announced on Thursday that its latest space probe, the Jupiter Icy Moons Explorer (Juice), had been delivered to ESA’s European Space Research and Technology Centre (Estec) in the Netherlands. The spacecraft had been transferred from the Friedrichshafen facility of... 

Jupiter space probe arrives at research centre in the Netherlands for crucial tests
Photo by ESA
Juice, in its transport framework, after its arrival at Estec

Magazine round up | 07 May 2021 

Updated 6 hours ago A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 07 May 2021

Gold Fields chairperson Cheryl Carolus to step down at 2022 AGM

By: Martin Creamer     6th May 2021 Gold Fields chairperson Cheryl Carolus has announced that she will step down from her role and as a non-executive director with effect from the annual general meeting (AGM) in 2022. In her remarks to the 2021 AGM, which took place virtually on Thursday Carolus said she believed that after 12... 

Gold Fields has compelling ‘pure play gold’ investment case – Griffith 

By: Martin Creamer     6th May 2021 Gold mining company Gold Fields has a compelling investment case for its shareholders and any investor looking for exposure in high quality and cash generative gold business, new CEO Chris Griffith said on Thursday. Answering questions during a conference call following the reporting an... 

Gold Fields has compelling ‘pure play gold’ investment case – Griffith
Photo by Creamer Media's Donna Slater
Gold Fields CEO Chris Griffith

Mobile push authentication improves transaction security, improves user experience

By: Schalk Burger     6th May 2021 Mobile push authentication messages provide a better user experience and protect users more effectively than password-protected accounts and one-time pins (OTP), which is important to protect data as more companies have adopted cloud computing and remote working, says device identity and... 

Tribunal approves Premier's buyout of Mister Sweet, with conditions

By: Schalk Burger     6th May 2021 The Competition Tribunal has approved the acquisition by consumer goods manufacturer Premier of confectionery manufacturer Mister Sweet with the condition that it fill vacated nonexecutive roles with the 19 employees facing retrenchment. The merger parties had previously agreed to a moratorium on... 

Online organisational transformation course launched for project managers

By: Schalk Burger     6th May 2021 Project professionals association the Project Management Institute (PMI) has launched an online course to support organisational transformation. The new course provides project professionals with the building blocks and fundamental knowledge needed to understand how organisations transform... 

Platinum demand growth to be bolstered by FCEVs, says WPIC

By: Simone Liedtke     6th May 2021 Platinum in fuel cell electric vehicles (FCEVs) is a growing demand sector for platinum, with wider adoption dependent on the availability of an accessible hydrogen refueling network, says the World Platinum Investment Council (WPIC) in its latest newsletter on May 5. This FCEV growth is coming... 

SKF testing autonomous electric goods transport on public roads in Sweden

By: Schalk Burger     6th May 2021 Bearing and seal manufacturer SKF is testing a self-driving electric truck to transport goods on a public road between its factory and warehouse in Gothenburg, Sweden. It has partnered with Swedish transport technology company Einride. 

Gold Fields on track to deliver on guidance

By: Martin Creamer     6th May 2021 Notwithstanding the impact of Covid-19, gold mining company Gold Fields produced attributable equivalent gold production of 541 000oz, which was largely flat year-on-year and down 9% quarter-on-quarter. The Johannesburg- and New York-listed company stated on Thursday, when it provided an... 

Gold Fields on track to deliver on guidance
Photo by Creamer Media
Gold Fields CEO Chris Griffith

SA Novavax vaccine trial shows efficacy against B.1.351 Covid-19 variant 

By: Sane Dhlamini     6th May 2021 Results from the University of the Witwatersrand Novavax coronavirus vaccine trial show 51% efficacy against the B.1.351 variant in a South African study with HIV negative participants. A group in the trial, which included people who are HIV positive, showed 43% efficacy. Novavax is a... 

SA Novavax vaccine trial shows efficacy against B.1.351 Covid-19 variant

Indebted Eskom balks at power deal offered by Turkish generator

By: Bloomberg     6th May 2021 Eskom Holdings, South Africa’s State power utility, doesn’t want to buy electricity from the company that won most of a government emergency-power tender because it’s concerned about the cost and length of the contract, according to two people familiar with the situation. Meeting the terms of... 

Online data science courses launched for students in Africa

By: Schalk Burger     6th May 2021 South African data science training institute Explore Data Science Academy (EDSA) is making a range of online data science and data engineering courses available to students in the rest of Africa, but with a specific focus on youth and talent within Nigeria and Kenya. The aim with the data... 

Saldanha Bay IDZ announces R3.5bn Phase 1 expansion project

By: Marleny Arnoldi     6th May 2021 The Saldanha Bay Industrial Development Zone (SBIDZ) is embarking on the R3.5-billion first phase of an eventual seven-phase infrastructure investment project. The first-phase 356 ha expansion is integral to national and regional infrastructure development and will also be the single largest... 

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