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Sasol to test market for Southern African carbon-offset prospects 

By: Terence Creamer     29th October 2020 Chemicals and energy group Sasol has indicated that it intends issuing a request for information (RFI) for the development and implementation of carbon-offset projects in South Africa and the Southern African Development Community (SADC) and has called on potential participants to register their... 

Sasol to test market for Southern African carbon-offset prospects

Technical panel being assembled to support delivery of 62 infrastructure projects 

By: Terence Creamer     29th October 2020 Public Works and Infrastructure Minister Patricia de Lille reported on Thursday that nearly 1 200 applications were received from professionals willing to serve on the Technical Advisory Panel for South Africa’s Infrastructure Investment Plan. Applications for the panel were advertised in August... 

Technical panel being assembled to support delivery of 62 infrastructure projects
Public Works and Infrastructure Minister Patricia de Lille

Covid-19 taking heavy toll on retail market, dealerships, says NADA 

By: Irma Venter     29th October 2020 The Covid-19 pandemic has seen six amalgamations between dealerships from April 1 to September 30, as well as the sale of 19 dealerships and the closure of 38 dealerships among the members of the National Automobile Dealers’ Association (NADA), the association’s national director Gary McGraw... 

Covid-19 taking heavy toll on retail market, dealerships, says NADA
Gary McGraw

Public Enterprises Ministry welcomes further government funding for SAA 

By: Rebecca Campbell     29th October 2020 The Minister of Public Enterprises has welcomed the decision by the government to back the business rescue plan for, and the restructuring of, State-owned national flag carrier South African Airways. The government has committed itself to provide R10.5-billion to fulfil these objectives. “The... 

Public Enterprises Ministry welcomes further government funding for SAA

Ctrack Freight & Transport Index sees logistics sector making a comeback

By: Irma Venter     29th October 2020 The South African logistics sector has just recorded its strongest ever quarter of growth, this according to the newest Ctrack Freight & Transport Index (CFTI). In June, at the end of the second quarter, the CFTI showed that the domestic logistics sector recorded a decline of 17.6% compared with... 

Ctrack Freight & Transport Index sees logistics sector making a comeback

Profitable circular economy concepts making future potentially bright for coal miners  

By: Martin Creamer     Updated 7 hours ago Coal mining companies need to start looking at creating their own profitable circular economies around existing coal assets because it is possible, says African Source Markets CEO Bevan Jones. While still responsibly mining coal, coal-mining companies have an opportunity to look at creating a... 

African Source Markets CEO Bevan Jones interviewed by Mining Weekly’s Martin Creamer.

Kusile Unit 2 reaches full commercial operational status

By: Donna Slater     29th October 2020 State-owned power utility Eskom reports that, on October 2, Unit 2 of its six-unit Kusile coal-fired power station in eMalahleni, Mpumalanga ,achieved full commercial operation status. This means the unit has progressed from its 16-month project testing phase, to officially becoming a part of... 

Kusile Unit 2 reaches full commercial operational status
Photo by Creamer Media's Donna Slater
Kusile power station under construction

Afrimat's diversification strategy paying off 

By: Marleny Arnoldi     29th October 2020 Openpit miner Afrimat reported an 11% year-on-year increase in operating profit for the six months ended August 31, despite a 9.4% year-on-year decrease in revenue. The company also ended the period with cash and cash equivalents of R330-million, a 170% year-on-year increase. 

R1bn Richards Bay mounded LPG storage facility commissioned

By: Creamer Media Reporter      Updated 7 hours ago The R1-billion mounded liquefied petroleum gas (LPG) storage facility, in Richards Bay, owned by South African independent bulk liquid and gas storage operator Bidvest Tank Terminals and independent LPG specialist and trader Petredec, has been commissioned. The 22 600 t storage facility is the... 

Sustainable financing imperative to sustainable future, says JSE’s Soobramoney

By: Simone Liedtke     29th October 2020 Finance has a significant role to play in a sustainable future, which comprises economic, environmental, social and governance responsibilities, JSE chief sustainability officer Shameela Soobramoney said during this year’s virtual Green Building Convention on October 29. Sustainability emerged as... 

Nature must be brought back into cities, says regenerative design expert

By: Simone Liedtke     29th October 2020 The construction and built environment industries need to strongly consider creative solutions, like integrating regenerative design principles, when designing and building facilities, global consulting company Mott MacDonald regenerative design head Amanda Sturgeon has said. Regenerative design... 

Growthpoint receives green building certification for Exxaro head office

By: Tasneem Bulbulia     29th October 2020 Coal miner Exxaro’s new head office building, in Centurion, Gauteng, developed and owned by property developer Growthpoint, has achieved a 6-Star green rating from the Green Building Council South Africa (GBCSA) under the Green Star New Build certification system. Green building certification... 

Growthpoint receives green building certification for Exxaro head office
Exxaro exterior

Tiger Brands says meat processing disposal unconditional

By: Donna Slater     29th October 2020 Consumer brands company Tiger Brands says the disposal of its meat processing businesses in Germiston, Polokwane and Pretoria, to wholly-owned subsidiary of Country Bird, Silver Blade Abattoir, has become unconditional. Accordingly, the effective date of the transaction is November 1.  

Nestlé launches three-pillar sustainability initiative

By: Donna Slater     29th October 2020 Food and beverage company Nestlé launched its RE sustainability initiative in South Africa on October 29. The initiative is aimed at reinforcing Nestlé's sustainability initiatives, strategies and resources to help mitigate sustainability challenges and strengthen its contribution to a waste-free... 

Africa’s richest man delays cement London listing until 2023

By: Bloomberg     Updated 7 hours ago Aliko Dangote, Africa’s richest person, has again delayed plans to sell shares in his cement maker on the London Stock Exchange, opting instead to focus on increasing exports and boosting the Nigerian company’s foreign-exchange reserves. Dangote Cement, the continent’s biggest producer of the... 

Airbus Space announces technology breakthrough for producing oxygen on the Moon

By: Rebecca Campbell     29th October 2020 Airbus Defence and Space, a subsidiary of the Europe-based global Airbus group, has announced that an international team under its leadership has achieved an important technological breakthrough. They have successfully demonstrated a process invented by Airbus by producing oxygen and metals from... 

Kenyan air cargo operator takes delivery of its first Boeing 767 freighter

By: Rebecca Campbell     Updated 7 hours ago Kenya-based air cargo operator Astral Aviation took delivery on Wednesday of a Boeing 767-200BCF freighter aircraft, which it is leasing from Nasdaq-listed Air Transport Services Group (ATSG) under a five year deal. The aircraft was delivered to Nairobi by ATSG subsidiary Cargo Aircraft... 

Kenyan air cargo operator takes delivery of its first Boeing 767 freighter
Photo by Astral
Artist’s impression of the 767-200BCF in Astral livery

South Africa's wage freeze plan hinged on 'difficult' negotiations, says Fitch

By: Reuters     29th October 2020 South Africa's plan to freeze public sector wages, announced by the finance minister in a budget speech, will face opposition from labour unions, ratings firm Fitch said on Thursday. The success of the plan "will depend crucially on difficult negotiations with public sector trade unions," said... 

The taxi industry is 'the lifeblood of public transport', but we must fix problems – Ramaphosa 

By: News24Wire      29th October 2020 President Cyril Ramaphosa has described the taxi industry as the "lifeblood of our public transport system", but has also emphasised that problems need to be tackled. Ramaphosa - who is self-isolating after possible exposure to Covid-19 at a fundraiser event over the weekend - addressed various... 

The taxi industry is 'the lifeblood of public transport', but we must fix problems – Ramaphosa
President Cyril Ramaphosa

Temperatures up, dam levels down – KZN residents urged to save water

By: African News Agency      29th October 2020 Residents across KwaZulu-Natal (KZN) have been urged to use water sparingly as temperatures rise and the national department of water and sanitation saying it had recorded a drop in dam levels across the province and South Africa. The department’s national spokesperson, Sputnik Ratau, said via a... 

 Temperatures up, dam levels down – KZN residents urged to save water

Budget acknowledges economy’s plight, but more urgency required, say business organisations

By: Tasneem Bulbulia     29th October 2020 Following the delivery of the Medium Term Budget Policy Statement (MTBPS) by Finance Minister Tito Mboweni on October 29, business organisations have commended its acknowledgement of the dire economic situation facing the country, but have noted that more urgency is required in terms of reforms... 

New coral species discovered on seabed prized for mining potential

By: Reuters     29th October 2020 Three species of black coral have been discovered on the seabed of the northern Pacific Ocean, an area where several countries have contracts to explore for metals including cobalt and nickel as they race to find new supplies of the key battery elements. The corals were discovered on deep... 

Medium-term budget highlights 

29th October 2020   Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the new fiscal framework presented by Finance Minister Tito Mboweni during his Medium-Term Budget Policy Statement, on Wednesday; what this could mean for public sector wages and South Africa's credit rating;... 

Medium-term budget highlights

BLSA has concerns about South Africa’s debt servicing after medium-term budget speech

By: Marleny Arnoldi     28th October 2020 Business Leadership South Africa (BLSA) has expressed disappointment at Finance Minister Tito Mboweni’s allocation of R10.5-billion to embattled South African Airways in the Medium-Term Budget Policy Statement (MTBPS) that he delivered on October 28. This follows the consultancy advocating for no... 

Commission grants short-term exemption to SASA and its members

By: Tasneem Bulbulia     28th October 2020 The Competition Commission has granted the South African Sugar Association (SASA) and its members an exemption until June 31, 2021. The exemption has been granted subject to conditions to ensure that the information SASA and its members share is limited to that which is necessary to give effect... 

WBHO to report 892c loss per share for FY20

By: Marleny Arnoldi     28th October 2020 Construction group Wilson Bayly Holmes-Ovcon (WBHO) has advised that it will report an attributable loss s share of between 892c and 985c apiece for the year ended June 30, as a result of project delays taking its toll amid Covid-19. This is around 200% lower than the earnings a share of 938c... 

Rail offers potential for Africa

By: Tasneem Bulbulia     28th October 2020 The growing population in Africa, coupled with the rise of urbanisation, will require additional transport capacity, and rail has a significant role to play in this, said Products Projects Consulting for Trains MD Wolfram Schwab. He was speaking during rolling stock manufacturing and servicing... 

World airline and weather bodies agree to increase data collection cooperation

By: Rebecca Campbell     28th October 2020 The International Air Transport Association (Iata) – the representative body of the global airline industry – and the World Meteorological Organisation (WMO) have signed an agreement to expand automated meteorological data reporting by commercial aircraft. Currently, some 40 airlines and several... 

Struggling ferrochrome needs chrome export tax as interim measure – Richards Bay Alloys  

By: Martin Creamer     28th October 2020 The struggling electricity-intensive South African ferrochrome industry, which has taken significant strides to increase its efficiency and reduce its electricity consumption, needs urgent steps to be taken to enable it to restore its competitiveness. The most far-reaching of these is the... 

Richards Bay Alloys CEO Andries van Heerden interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Royal Bafokeng puts muscle behind Distributed Power Africa’s energy agenda

By: Marleny Arnoldi     28th October 2020 Renewable energy company Distributed Power Africa (DPA) has announced that Royal Bafokeng Holdings (RBH) will invest $20-million in a newly formed asset company to expand on DPA’s solar energy portfolio in four key markets. RBH is a long-term African community investment holding company with a... 

Solidarity Fund appoints new CEO

By: Creamer Media Reporter      28th October 2020 The Solidarity Fund has appointed Tandi Nzimande to succeed outgoing CEO Nomkhita Nqweni. Nzimande is a chartered accountant, who started her post articles career as a corporate finance adviser at Deutsche Bank. Following that, she acquired and ran a small business in the postal and courier... 

Solidarity Fund appoints new CEO
Tandi Nzimande

MTN Nigeria’s revenue, earnings grow despite voice, data volatility

By: Natasha Odendaal     28th October 2020 MTN Nigeria reported growth in revenue and earnings before interest, tax, depreciation and amortisation (Ebitda) despite facing volatility in voice and data revenue over the nine months ended September 30. The group’s Ebitda increased 9.1% to N497.9-billion; however, its Ebitda margin contracted... 

Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel 

By: News24Wire      28th October 2020 South African Airways will get the R10.5-billion it has requested from government to fund its business rescue process. The monies will be made available from reductions from national departments and their entities as well as reductions from local and provincial conditional grants, according to... 

Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm 

By: Terence Creamer     28th October 2020 Finance Minister Tito Mboweni unveiled a significantly looser fiscal consolidation roadmap in the Medium-Term Budget Policy Statement (MTBPS) he presented to lawmakers on Wednesday when compared with the framework provided in his June Supplementary Budget. Nevertheless, he reiterated his message... 

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm
Photo by Bloomberg
Finance Minister Tito Mboweni

Operation Vulindlela delivery unit to drive growth-supportive structural reforms 

By: Terence Creamer     28th October 2020 The Presidency and the National Treasury have established a formal structure in an effort to accelerate the implementation of structural reforms that, together with the recently launched Economic Reconstruction and Recovery Plan, are at the heart of renewed efforts to boost South Africa’s... 

Operation Vulindlela delivery unit to drive growth-supportive structural reforms

Total finds gas at Luiperd prospect

By: Marleny Arnoldi     28th October 2020 Petroleum company Total has announced that it has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, about 175 km off the southern coast of South Africa. The discovery follows the adjacent Brulpadda discovery made in 2019, which... 

Boland Cellar commissions 473 kW crowdfunded solar installation

By: Donna Slater     28th October 2020 Paarl-based wine cellars Boland Cellar and peer-to-peer solar leasing platform Sun Exchange received crowd funding from 1 204 individuals from 85 countries to finance a 473 kW solar project to provide clean electricity for the wine cellar, while also reducing its electricity costs and emissions.... 

Rules of Origin a key issue for continuing African free trade area talks

By: Rebecca Campbell     28th October 2020 African Union Ministers of Trade held their 12th meeting, undertaken virtually, on Tuesday. This was the second such meeting to be chaired by South African Trade, Industry and Competition Minister Ebrahim Patel, and was focused on concluding essential elements that remain to be agreed in the... 

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