Financial sector to use AI solutions to counteract sophisticated fraud strategies – SAS

The challenge of fighting financial crime has become more complex and multifaceted, and the financial services sector will employ artificial intelligence (AI) solutions to counteract sophisticated... 

Residential development summit to foster govt, private sector collaboration

The Residential Investment and Development (Reside) Summit, which will be held in Johannesburg from July 16 to 19, has a key objective to foster collaboration between governmental stakeholders and... 

Kimberly-Clark signs PPA for 2.2 MW solar plant for its Cape Town facility

Personal care and hygiene products manufacturer Kimberly-Clark has signed a long-term power purchase agreement (PPA) with energy company Energy Partners (EP), which will install a 2.2 MW rooftop... 

Budget expected to show conditions remain unsupportive of fiscal consolidation – Nedbank

Finance Minister Enoch Godongwana's 2024 Budget Speech, to be delivered next week, is expected to show that economic conditions will remain broadly unsupportive of significant fiscal consolidation,... 

AFC appoints Emeka Emuwa as chairperson

Multilateral infrastructure finance institution Africa Finance Corporation (AFC) has appointed Emeka Emuwa as its chairperson to oversee and guide the AFC on its future strategy and growth... 

AfDB commits $10m to green infrastructure development fund

Development finance institution the African Development Bank (AfDB) Group has approved $10-million in funding for the Alliance for Green Infrastructure in Africa – Project Development (AGIA-PD)... 

South Africa urged to dedicate 30% of healthcare public procurement to local manufacturers

To build capacity and expand investment in South Africa’s pharmaceutical and healthcare products manufacturing sector, the country should ringfence 30% of public procurement for local... 

Five South African startups showcasing UN SDG-aligned technology innovations in Ireland

The winning cohort of the 2023 Irish Tech Challenge South Africa has travelled to Ireland for a ten-day curated immersion and networking programme with access to top industry leaders and potential... 

Association concerned about assumptions in commission's poultry market inquiry

Industry organisation the South African Poultry Association (SAPA) has expressed concern about some of the statements and assumptions in the Competition Commission’s announcement of a market... 

Sun Exchange moves to become solar, battery storage project developer

Crowdsale-financing solar power projects company Sun Exchange will shift its focus to becoming a full-service commercial solar power and energy storage project developer, with all projects to be... 

International research study to look at depression among unemployed African youth

A research study to examine the network of risk factors and resilience resources that predict depression among not in employment, education or training (NEET) youth in Africa will be undertaken by... 

South Africa resilient despite global shocks, survey shows

Trade credit insurance company Allianz Trade says its latest quarterly Country Risk Atlas found that South Africa demonstrates external resilience to shocks, with abundant international reserves, a... 

TNPA receives first four of 52 new hydraulic tension mooring units

State-owned Transnet National Ports Authority (TNPA) has received and operationalised four hydraulic tension mooring units at the ports of Cape Town and Ngqura. This is the first batch of the 52... 

Anglo American, Finnish Minerals sign battery value chain agreement

Mining multinational Anglo American and Finnish State-owned mining company Finnish Minerals Group have signed a memorandum of understanding (MoU) to explore opportunities to further support the... 

Competition Commission invites comments on poultry industry market inquiry draft terms

The Competition Commission will conduct a market inquiry into the poultry industry value chain, saying it has reason to believe there are features in the poultry market that may impede, distort or... 

Opec Fund extends $30m loan to Uganda to upgrade rural road

The Organisation of the Petroleum Exporting Countries (Opec) Fund for International Development is extending a $30-million loan to support the development of a key transportation link in Uganda.... 

Most of construction industry expects busy, profitable 2024, survey shows

A survey of the construction industry by construction software company RIB Software indicated that the industry in the sub-Saharan Africa, Middle East and North Africa (Mena) region is looking... 

Mining industry sustainability hinges on energy, logistics reforms, Minerals Council stresses

The sustainability of the South African mining industry and its ability to play a meaningful and positive role in society and the economy are dependent on urgent and extensive structural reforms in... 

Energy transition offers once-in-century chance for South Africa to reindustrialise

The global and local renewable energy transition is presenting industries, and South Africa, with a once-in-a-century growth trajectory to provide products and components into the value chains of... 

Almost half of South African companies needed overhaul after cybersecurity incidents

Cybersecurity company Trellix's 'Mind of the CISO 2023' report found that nearly half of South African organisations found it necessary to completely overhaul the skills and qualifications of their... 

Ports of entry redevelopment bid submission deadline extended

The Border Management Authority (BMA) has agreed to extend the submission date for requests for proposal for the 'Redevelopment of the Six Priority Land Ports of Entry' project to July 4. The six... 

Manufacturing production increased by 0.7% y/y in December

Manufacturing production increased by 0.7% year-on-year in December, Statistics South Africa reports. The largest positive contributions were made by petroleum, chemical products, rubber and... 

Actom secures Selebi-Phikwe solar plant contract

Electromechanical equipment manufacturer Actom High Voltage has secured a contract to supply and deliver high-voltage equipment for the Selebi-Phikwe solar photovoltaic (PV) plant, which is... 

Biodegradable cellulose gloves inventor wins 2024 Mining Innovation and Research award

Industry association Women in Mining Kenya founder Grace Akinyi won the Mining Innovation and Research Battlefield 2024 competition with her 'Eco Green Gold’ concept to produce biodegradable gloves... 

JSE Clear accepts securities as collateral against open derivative positions

The JSE's independent clearing house JSE Clear has introduced a new service to accept securities as collateral against open JSE derivative positions. Previously, only cash was accepted as... 

Sappi's earnings, debt decrease in first quarter

JSE-listed renewable woodfibre-based products company Sappi's earnings before interest, taxes, depreciation and amortisation (Ebitda) decreased to $156-million for the first quarter of its 2024... 

Nxesi appoints second National Minimum Wage Commission members

Employment and Labour Minister Thulas Nxesi has appointed the second National Minimum Wage (NMW) Commission that will advise on the setting of the national minimum wage and sectoral determinations,... 

Growthpoint issues R1bn ten-year bond

JSE-listed real estate investment trust (Reit) Growthpoint Properties has issued a R1-billion senior unsecured bond with a ten-year maturity. The ten-year note was placed at a margin of 185 basis... 

Backlog at Cape Town Container Terminal reduced

The Cape Town Container Terminal completed services for three vessels in a single shift over the weekend, reducing the vessels at anchor from four to one, despite three hours of lost time owing to... 

Jan Oberholzer appointed director of renewable energy project developer JER Group

Sub-Saharan Africa renewable energy project developer Jearrard Energy Resources (JER) Group has appointed former Eskom executive Jan Oberholzer as nonexecutive director. Oberholzer brings a wealth... 

National food loss, waste reduction strategy on the cards

The Department of Forestry, Fisheries and the Environment’s (DFFE's) Draft Strategy for Reducing Food Losses and Waste, published for comment in September 2023, will likely result in a newly... 

Keith Pienaar CEO of Vector Logistics

Fund management company AP Møller Capital, which acquired Vector Logistics from food producer RCL Foods in August, has appointed Keith Pienaar as Vector Logistics CEO. With the appointment, the... 

Good roads needed for economic growth – Chikunga

Transport Minister Sindisiwe Chikunga, on February 5, inspected the R1.1-billion upgrade of the R23 regional road in Standerton, Mpumalanga, as well as the implementation of the Vala Zonke campaign... 

Mahlako Gas Energy invests in Tetra4 after it secures onshore petroleum licence

Gas asset investment company Mahlako Gas Energy (MGE) has concluded its investment in Tetra4, which holds South Africa’s first onshore petroleum production licence. MGE, which now holds a 5.5%... 

Transnet receives locomotive batteries through RBCT partnership

State-owned Transnet has taken delivery of seven full sets of batteries procured by the Richards Bay Coal Terminal (RBCT). The delivery of these critical spares will improve the reliability of... 

NUM welcomes Optimum Colliery settlement, calls for rail allocation

Trade union the National Union of Mineworkers (NUM) has welcomed the settlement agreement under which Liberty Coal has agreed to pay R461.7-million to the State in place of the confiscation of... 

Teraco offers Google Cloud interconnect at Isando campus

Data centre services company Teraco will offer connectivity directly through Google Cloud Interconnect to the Google Cloud Johannesburg region at its Isando Campus. This announcement follows... 

Mondi acquires Hinton Pulp mill in Canada

JSE-listed Mondi has completed the acquisition of the Hinton Pulp mill, in Alberta, Canada, from West Fraser Timber company for $5-million. Mondi will invest in the mill to improve productivity and... 

Denel shows off its products at global defence show in Saudi Arabia

State-owned defence company Denel is showcasing several of its products in the fields of missile technology, air defence systems, precision guided munitions, artillery systems and unmanned aerial... 

SAPVIA CEO appointed to Global Solar Council

South African Photovoltaic Industry Association (SAPVIA) CEO Dr Rethabile Melamu has been appointed as a board member of the international solar power industry organisation Global Solar Council....