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Van der Merwe to lead establishment of Gauteng Transport Authority 

By: Irma Venter     18th April 2019 Gautrain Management Agency (GMA) CEO Jack van der Merwe will, in the short term, steer the establishment of the Gauteng Transport Authority (GTA), says Gauteng Roads and Transport MEC Dr Ismail Vadi. ‘Short term’ refers to a period of six months. Van der Merwe will remain in his position as... 

Van der Merwe to lead establishment of Gauteng Transport Authority
Photo by Creamer Media
Gauteng Roads and Transport MEC Dr Ismail Vadi and GMA CEO Jack van der Merwe

Load-shedding may cut growth close to zero, SARB says 

By: Bloomberg     18th April 2019 South Africa’s power cuts could bring economic growth for the year close to zero if they continue at the same severity seen in March, the South African Reserve Bank (SARB) said. The wave of rolling blackouts that started in November and are among the worst the country has yet experienced could... 

Load-shedding may cut growth close to zero, SARB says
SARB deputy governor Kuben Naidoo

Sasol reports stabilisation in synfuels output 

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

Contract awarded for LHWP II’s Polihali diversion tunnels

By: Simone Liedtke     18th April 2019 The Lesotho Highlands Development Authority has awarded the contract for the construction of the Polihali diversion tunnels to the SCLC Polihali Diversion Tunnel joint venture, marking another significant step in the implementation of Phase 2 of the Lesotho Highlands Water Project. The contractor... 

Opinion: How can embedded generators help close South Africa's power supply gap?

By: Tobias Bischof-Niemz     18th April 2019 There has been no increase in overall electricity demand since South Africans first began experiencing load-shedding back in 2008. Yet the threat of rotational cuts remains, because of the precipitous decline in the energy availability factor (EAF) of Eskom’s coal fleet and the underinvestment in... 

Opinion: How can embedded generators help close South Africa's power supply gap?
LOAD PROFILE: The household load does not match the solar system’s daytime production profile

Africa's sole nuclear plant undergoes revamp to extend lifespan

By: Bloomberg     18th April 2019 Eskom Holdings, the State utility that supplies 95% of South Africa’s power, is overhauling the continent’s sole nuclear plant with the aim of extending its lifespan by at least 20 years. The revamp of the 1 860 MW Koeberg facility comes as Eskom struggles to produce enough electricity to meet... 

Africa's sole nuclear plant undergoes revamp to extend lifespan

Africa’s air cargo sector needs trade and aviation liberalisation to reach full potential

By: Rebecca Campbell     18th April 2019 In early February, the International Air Transport Association (IATA) released its global air freight data for the whole of 2018. Although worldwide demand, measured in freight (metric) ton kilometres (FTKs) rose by 3.5% in comparison to 2017, it was far below 2017’s 9.7% growth. And demand... 

Africa’s air cargo sector needs trade and aviation liberalisation to reach full potential

Organisations call for responsible transformation in the construction sector

By: Tasneem Bulbulia     18th April 2019 The Black Business Council (BBC), the BBC in the Built Environment and the Forum for Radical Economic Transformation on Thursday condemned the disruption by local business forums of construction projects in South Africa. The parties met to discuss issues focusing on local economic participation... 

Intu Properties, Cale Street sign JV for Intu Derby shopping centre

By: Simone Liedtke     18th April 2019 Intu Properties and investment firm Cale Street Investment on Thursday announced the establishment of a 50:50 joint venture for the Intu Derby shopping centre, in the UK. Intu Derby is located in the centre of Derby and is a retail and leisure destination in the 

Standard Bank shareholders to vote on climate-risk exposure reporting resolution

By: Tasneem Bulbulia     18th April 2019 Shareholders of financial services provider Standard Bank will, at the bank's next annual general meeting, vote on a resolution tabled by two shareholders to require the bank to report on its exposure to climate risk in its lending, financing and investment activities. "This is the first time... 

Dimension Data, Cisco sign co-innovation agreement

By: Creamer Media Reporter      18th April 2019 Information and technology groups Dimension Data and Cisco have entered into a new co-innovation agreement to develop a deeper collaboration environment and framework to jointly solve clients’ business needs. The agreement will provide the duo scale and market reach, leveraging the companies’... 

Global IT spend to tick up by 1.1% this year – Gartner

By: Schalk Burger     18th April 2019 Worldwide spending on information technology (IT) is projected to reach $3.79-trillion this year, a 1.1% increase from 2018, according to a forecast released by IT market research and advisory firm Gartner this week. Spending on data centre systems and devices will decrease by 2.8% and 1.9%,... 

Nigeria court orders arrests over Shell, Eni Malabu oil deal

By: Bloomberg     18th April 2019 A court in Nigeria ordered the arrest of two former ministers and others allegedly connected with illegal payments leading to the 2011 acquisition of what is considered one of the biggest oil fields in the West African country. Former Justice Minister and Attorney General Mohammed Adoke, ex-Oil... 

Nigeria has no intention of cutting fuel subsidy at this time

By: Reuters     18th April 2019 Nigeria has no intention of removing subsidies on petroleum products, its finance minister said on Wednesday after the International Monetary Fund (IMF) advised the country to eliminate them to protect public finances. Africa's top oil producer and biggest economy heavily subsidises gasoline and... 

France to open redesign of Notre-Dame's spire to international architects

By: Reuters     18th April 2019 France will open the redesign of the Notre-Dame de Paris’ iconic roofline to international architects after Monday night’s blaze gutted the oak-framed structure and sent its 300-foot spire crashing through its vaulted ceiling, the country's PM said on Wednesday. President Emmanuel Macron pledged... 

Two people injured as military helicopter crashes in Centurion

By: African News Agency      18th April 2019 Two people were injured when a military helicopter crashed on the corners of Ruimte Road and Old Johannesburg Road in Centurion on Friday afternoon, paramedics said. Rescue Care spokesperson Garrith Jamieson said Emer-G-Med Paramedics responded to the call and found two patients had sustained... 

Petrol, bread and cereals drive CPI up to 4.5% in March

By: Marleny Arnoldi     18th April 2019 The annual headline consumer inflation accelerated to 4.5% in March, from 4.1% in February, owing to another 74c fuel price hike in the same month. Land Bank economist Tebogo Mashabela on Friday commented on Statistics South Africa’s Consumer Price Index release, pointing out that the fuel... 

Petrol, bread and cereals drive CPI up to 4.5% in March

Orion reawakening global geological giant in Northern Cape 

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Fuel prices a sore thumb for businesses, consumers

By: News24Wire      18th April 2019 Higher fuel prices have contributed largely to the increase in March inflation, and industry has warned of the effects it is having on business profitability. Stats SA on Wednesday released March inflation figures, which increased to 4.5% compared to 4.1% reported in February. Transport costs... 

Fuel prices a sore thumb for businesses, consumers

Reserve Bank: Damage wreaked by State capture even worse than we thought

By: News24Wire      18th April 2019 The damage done by State capture is worse than previously understood, and its effects, coupled with load-shedding, are bound to hit economic growth hard, according to the Reserve Bank Monetary Policy Review. In a document outlining growth prospects for the country, the Pretoria-based institution... 

Reserve Bank: Damage wreaked by State capture even worse than we thought

Agri SA applauds Santam donation to drought relief fund

By: African News Agency      18th April 2019 Agricultural industry association Agri SA on Thursday applauded a donation from financial services group Santam to help drought-stricken farmers in the Northern Cape province. It said the drought in Sutherland had caused a devastating decline in the sheep breeding population and placed the town’s... 

Agri SA applauds Santam donation to drought relief fund

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     18th April 2019 Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Pilot Crushtec partners with Sanral to help smaller contractors tender for projects  

18th April 2019 The South African National Roads Agency has signed a memorandum of understanding with rock crushing equipment supplier Pilot Crushtec to engender relationships with smaller contractors in the lower end of the construction industry, as part of the organisation’s transformation drive. Tasneem... 

Pilot Crushtec partners with Sanral to help smaller contractors tender for projects

Hulking nukes trying to get nimble in volatile power markets

By: Bloomberg     18th April 2019 Nuclear reactors, the lumbering giants of electricity generation, are trying to become more agile. Power grids have become so swamped with volatile wind and solar that traditional plants are being forced to abruptly adjust their own output to keep systems stable – or pay a penalty. That’s... 

SARB says too early to claim inflation win

By: Bloomberg     18th April 2019 The South African Reserve Bank says it’s premature to claim victory in the war against inflation and sees price growth stabilising at 4.5% only by the end of 2021. While inflation has been inside the central bank’s target band of 3% to 6% for two years and was at the midpoint of this range in... 

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Higher import tariffs on chicken will hurt poor consumers – EBieSA

By: Tasneem Bulbulia     17th April 2019 The Emerging Black Importers and Exporters South Africa and the South African National Consumer Union say raising tariffs on imported chicken could hike local chicken prices by up to 32%, putting South African consumers under further financial strain and impacting on food security for the poor.... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Fuel price cap still being investigated, energy department says 

By: News24Wire      17th April 2019 The Department of Energy is still researching the feasibility of implementing a fuel price cap, and the outcome will be announced in due course, a spokesperson said on Wednesday. The possibility of a hard price ceiling on 93 unleaded fuel was mooted by Energy Minister Jeff Radebe in mid-October... 

Fuel price cap still being investigated, energy department says

Mashaba says service delivery in Jhb is improving, but irregular expenditure remains a problem

By: Marleny Arnoldi     17th April 2019 Since the Democratic Alliance entered into a coalition government in the Johannesburg metropolitan two and a half years ago, the City of Johannesburg has achieved and maintained economic growth of around 1.95% a year, mayor Herman Mashaba said at the city’s annual general meeting on Wednesday.... 

Mashaba says service delivery in Jhb is improving, but irregular expenditure remains a problem
Johannesburg Mayor Herman Mashaba

Saice requests Ramaphosa’s urgent intervention to address construction site attacks

By: Nadine James     17th April 2019 The South African Institution of Civil Engineering (Saice) has joined other industry bodies in strongly condemning the recent spate of alleged “mafia-style” coordinated gang activity on project sites across the country. In a statement issued on Wednesday, Saice referred to pleas from the South... 

Saice requests Ramaphosa’s urgent intervention to address construction site attacks

Royal Bafokeng boosts production despite setbacks 

By: Martin Creamer     17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... 

NUM members on strike at PPC Cement in Pretoria

By: African News Agency      17th April 2019 The National Union of Mineworkers (NUM) on Wednesday confirmed a strike by workers at cement producing company PPC, at Hercules, in Pretoria, over wage increases.  NUM PPC branch secretary Surprise Baloyi, said workers were embarking on a protected strike over the company’s refusal to bargain on... 

PIC raises Texton stake to 18.9%

By: Nadine James     17th April 2019 State-owned investment management company, the Public Investment Corporation (PIC) increased its beneficial shareholding in JSE-listed real estate investment trust Texton Property Fund to 18.9%. Texton CEO Marius Muller on Wednesday noted that the PIC had become Texton’s largest shareholder. 

PIC raises Texton stake to 18.9%
MARIUS MULLER

Miners behind pre-poll South African stock rally not done yet

By: Bloomberg     17th April 2019 South African mining stocks have had their best start to the year since 2016 and there’s every chance they are not done yet. The FTSE/JSE Africa Mining Index has gained 22% as of April 16 and is close to an eight-year high, helping South Africa’s benchmark gauge advance 12% as investors show few... 

Angola mobile tender dials back on transparency pledge

By: Bloomberg     17th April 2019 Since assuming power in 2017, Angolan President Joao Lourenco has repeatedly vowed to steer sub-Saharan Africa’s second-biggest oil producer into a new era of transparency. Last week, he missed a golden opportunity to deliver on that promise. The sale of the country’s fourth telecommunications... 

African Rainbow Capital acquires QED for undisclosed amount

By: Nadine James     17th April 2019 Empowerment investment holding company African Rainbow Capital (ARC) on Wednesday announced plans to acquire a majority shareholding in independent actuarial advisory business QED for an undisclosed amount. QED operates across 17 countries in Africa, offering actuarial and risk management... 

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