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Gautrain will not reissue rolling stock tender 

By: Irma Venter     21st May 2019 The tender for the procurement of new 12 new four-car trains for the Gautrain system will not be reissued, says Gautrain Management Agency communication and marketing senior executive manager Dr Barbara Jensen. An almost three-year tender process, initiated in February 2016, to secure additional... 

Gautrain will not reissue rolling stock tender

BBBEE Commission says most broad-based schemes failing ‘ownership test’ 

By: Terence Creamer     21st May 2019 The regulatory body overseeing the implementation of South Africa’s broad-based black economic empowerment (BBBEE) legislation has dismissed suggestions that changes have been made to the rules governing the treatment of trusts and other broad-based structures under the ownership element of the... 

BBBEE Commission says most broad-based schemes failing ‘ownership test’

Mboweni bemoans 'madness' of Eskom debt  

By: Bloomberg     21st May 2019 South Africa’s embattled State power utility must prioritise collecting the money it is owed by municipalities as a first step toward becoming financially sustainable, Finance Minister Tito Mboweni said. Eskom Holdings has reported that municipalities owed it R17-billion in arrears for power... 

Mboweni bemoans 'madness' of Eskom debt
Photo by Creamer Media's Dylan Slater
Finance Minister Tito Mboweni

South Africa will welcome new 'balanced' Cabinet – Ramaphosa

By: News24Wire      21st May 2019 President Cyril Ramaphosa says he believes the country will welcome his new Cabinet when he announces it within the next week. Ramaphosa, Deputy President David Mabuza, and other ANC officials attended the governing party's first Parliamentary caucus sitting on Tuesday since the May 8 elections. 

SARB to keep repo rate unchanged and monitor inflation – economists

By: African News Agency      21st May 2019 The South African Reserve Bank (SARB) is likely to keep the repurchase (repo) rate unchanged at 6.75% on Thursday while retaining a cautious policy stance given upside risks to the inflation outlook, economists have said. In March, the SARB's monetary policy committee (MPC) unanimously decided to... 

Trade tensions put global economic growth on a 'subpar' setting

By: Bloomberg     21st May 2019 Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the OECD’s latest outlook. The report sticks to the gloomy tone long held by the Paris-based organization, which has warned that trade disruptions could ricochet throughout... 

Abrahams relied on wrong sections of law to prosecute Thales, says Katz

By: African News Agency      21st May 2019 The legal team for French arms’ company Thales argued on Tuesday that South Africa’s former prosecutions’ chief, Shaun Abrahams, relied on, among other things, the wrong sections of the law when deciding to reinstate charges against its client. Advocate Anton Katz, SC, also said that when... 

Saceec warns capital equipment industry to comply with legislation in foreign countries

By: Nadine James     21st May 2019 South African machinery and capital equipment companies must understand the legislation of countries they are operating in, or exporting to, South African Capital Equipment Export Council (Saceec) chairperson and CEO Eric Bruggeman told delegates attending the Local Southern African Manufacturing... 

PetroConnect calls for fuel industry collaboration

By: Simone Liedtke     21st May 2019 With the South African energy sector undergoing significant change, particularly with the introduction of the Liquid Petroleum Sector Codes currently under way, PetroConnect directors Mark Harper and Sbonelo Mbatha have called on the fuel industry to “see transformation as an opportunity and not... 

Rhodes Food interim operating profit rises 6% to R173m

By: African News Agency      21st May 2019 Rhodes Food on Tuesday reported an improved performance for the six months to March, with operating profit up six% to R173-million while turnover increased by 9.3% to R2.7-billion. The Western Cape-based firm, which owns such brands as Rhodes, Bull Brand, Magpie, Squish, Bisto, Hinds and Pakco,... 

Retirement fund industry urged to invest in cybersecurity

By: Tasneem Bulbulia     21st May 2019 Given the increasing threat of cybercrime globally, Sanlam corporate sales and marketing CE Viresh Maharaj has warned the local retirement fund industry to give careful consideration to its cybersecurity. Speaking at a pre-briefing session outlining the contents that will be unlocked at the... 

South Africa urged to consider the benefits of 4IR

By: Mamaili Mamaila     21st May 2019 Although South Africa faces many challenges, it is in a good position in terms of its uptake of the Fourth Industrial Revolution (4IR), University of Johannesburg Institute for Intelligent Systems director Professor Babu Paul said on Tuesday. “While many ask what will happen to the poor once 4IR... 

South Africa urged to consider the benefits of 4IR
University of Johannesburg Institute for Intelligent Systems director Professor Babu Paul

Kaspersky Lab to open Rwanda office

By: Creamer Media Reporter      21st May 2019 Cybersecurity company Kaspersky Lab plans to open a new office in Kigali, Rwanda, to support the rapid growth of its business in East Africa. This strategic move will provide more room for development, as well as closer proximity to new partners in the region, allowing Kaspersky Lab to continue... 

Zimbabwe hikes diesel, petrol prices by up to 47% – energy regulator

By: Reuters     21st May 2019 Zimbabwe's energy regulator on Tuesday announced that prices of diesel and petrol had been increased by up to 47% effective immediately, a day after the central bank said oil firms would now buy dollars to import fuel on the interbank market. The latest price increase had been expected and... 

Zimbabwe to subsidise public transport as inflation jumps

By: Bloomberg     21st May 2019 Zimbabwe will subsidise public transport and cut fuel duties by more than half as it tries to ease the impact of rampant inflation on its poorest citizens, according to Finance Secretary George Guvamatanga. The support will cost about $8-million a month, Guvamatanga said by phone on Monday. “A... 

Airbus announces range extensions for its new A220 family

By: Rebecca Campbell     21st May 2019 Europe-based global aerospace group Airbus announced in Canada on Tuesday that it would be offering airlines an increased range version of its A220 small (100 seats to 150 seats) single-aisle airliner family, from the second half of next year. The A220 family is composed of two models, the... 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

No injuries or fatalities reported in Germiston train fire

By: News24Wire      21st May 2019 No injuries or fatalities were reported after a train caught fire in Dinwiddie, Germiston, on Tuesday, according to Ekurhuleni Emergency Medical Services (EMS). "We received a call at 06:30, saying a train was on fire... next to the Scaw Metals company. 

City of Cape Town allocates approximately R25m to give Fisherman’s Lane a facelift

By: African News Agency      21st May 2019 The City of Cape Town on Tuesday said it has allocated approximately R25-million in its proposed budget over the next three years for the upgrade of the coastal infrastructure at Fisherman’s Lane at Strandfontein on the False Bay coastline. "The spring tides and wave action have left its mark on... 

Step inside Joburg's first plastic-free packaging store

By: News24Wire      21st May 2019 The Refillery, Johannesburg’s very first plastic-free grocery store, is helping South Africans fill their pantries, while addressing the plastic pollution crisis. The store, owned and co-founded by Sam and Dom Moleta, opened its doors in Cedar Square, Fourways two months ago. 

Ramaphosa unveils first step in Cabinet cleanup

By: Bloomberg     21st May 2019 President Cyril Ramaphosa took his first step toward revamping his Cabinet after May 8 elections, removing Environment Minister Nomvula Mokonyane, who’d been accused of taking bribes during a judicial probe. Ramaphosa has made the fight against graft a top priority since taking office 15 months... 

Former SAAF chief lieutenant general Dennis Earp dies

By: African News Agency      21st May 2019 Former chief of South African Air Force (SAAF) lieutenant general Dennis Earp – a veteran of the Korean war – has passed away at the age of 88. "It is with great sadness that the South African Air Force (SAAF) has to announce the passing on of retired Lieutenant General Dennis Earp on midnight on... 

ARM Cement's Kenyan assets sold for $50m – statement

By: Reuters     21st May 2019 The assets of Kenya's ARM Cement have been sold to the National Cement Company for $50-million, its administrator said on Tuesday. ARM Cement was put under administration last August by some of its creditors over a $190-million debt and its shares were suspended from the Nairobi bourse. It has... 

Zimbabwe got loan from Afreximbank using platinum collateral

By: Bloomberg     21st May 2019 Zimbabwe secured a $500-million loan from the African Export-Import Bank to try and stabilize its currency market by offering platinum production as collateral, a person familiar with the details of the agreement said. The Reserve Bank of Zimbabwe on Saturday announced on Twitter that the money... 

Mboweni poised to retain post 

By: Bloomberg     20th May 2019 Finance Minister Tito Mboweni is likely to hold on to his job for at least another year, as President Cyril Ramaphosa moves to re-assure investors and ratings companies that the economy is in good hands, according to two people familiar with the Cabinet selection process. The former central bank... 

Pioneer achieves credible performance in a constrained local market

By: Tasneem Bulbulia     20th May 2019 JSE-listed Pioneer Foods recorded a credible topline performance for the six months ended March 31, in a considerably constrained local consumer market with consequent competitive pressures. Revenue grew by 11.5% year-on-year to R11.04-billion, while sales volumes were up 2.7% year-on-year. 

Transport of wind turbine components for two projects under way

By: Tasneem Bulbulia     20th May 2019 Turbine tower sections for the Kangnas Wind Farm and Perdekraal East Wind Farm are being transported from the Port of Saldanha Bay and from Atlantis to the project sites. The two wind projects, which form part of Bid Window 4 of the Renewable Energy Independent Power Producers Procurement... 

Buoyed by mining recovery, Barloworld looks to Mongolia for growth 

By: Irma Venter     20th May 2019 Barloworld’s results on Monday reflected some of the biggest trends in the South African economy, with the company reporting a sharp drop in equipment sales to the troubled construction industry, as well as a decline in new-vehicle sales and car rental days, but with the mining industry seemingly... 

Buoyed by mining recovery, Barloworld looks to Mongolia for growth

DTI to support South African companies participating in Africa Oil Week

By: Tasneem Bulbulia     20th May 2019 The Department of Trade and Industry (DTI) will, for the first time, showcase 15 to 20 local companies in the South African National Pavilion at the Africa Oil Week, which will be held in Cape Town from November 4 to 8.   With the event focused on Africa’s upstream oil and gas sector, the DTI... 

KZN learners to represent South Africa in global water prize competition

By: Tasneem Bulbulia     20th May 2019 Two learners from Star College High in Durban, KwaZulu-Natal, were announced as the winners of the twentieth national South African Youth Water Prize competition. Their Hydro-Conservation innovation, is aimed at reducing the quantity of water that is wasted in households across South Africa daily... 

Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake

By: Reuters     20th May 2019 Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa, and would instead keep its majority stake in the unit for the time being. The US beverage giant had wanted to refranchise the unit as part of its global plan to divest its... 

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

'Thales believes it cannot obtain a fair trial' as it bids to have charges quashed

By: News24Wire      20th May 2019 The application for a permanent stay of prosecution by former President Jacob Zuma's co-accused and French arms company, Thales, in relation to the dubious multibillion-rand arms deal will be heard in the Pietermaritzburg High Court over the next four days. "Bearing in mind the very long delay of... 

At disaster forum, storm-hit Mozambique says will seek help to build back better

By: Reuters     20th May 2019 Mozambique, which was battered by two cyclones in March and April, will hold an international conference in two weeks' time to drum up funding to help it build back stronger, its vice-minister for state administration said Friday. "What we have learned from these cyclones (is) we need to build... 

Aspen sells Australian prescription portfolio to Mylan

By: Reuters     20th May 2019 Aspen Pharmacare said on Monday that Mylan had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for A$188-million ($130-million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global... 

Nigeria's economic growth slows in Q1 as oil sector shrinks

By: Reuters     20th May 2019 Growth in Nigeria's fragile economy slowed to 2.01% in the first quarter as the country's dominant oil sector shrank, the National Bureau of Statistics said on Monday. The annual pace dropped from the previous quarter's 2.38%, when activity was likely to have been boosted by state spending in the... 

National Climate Change Adaptation Strategy published for public comment

By: News24Wire      20th May 2019 The draft National Climate Change Adaptation Strategy which according to the Department of Environmental Affairs provides a “common vision of climate change adaptation and climate resilience for the country" has been published for public comment. The department on Sunday in a statement said the... 

National Climate Change Adaptation Strategy published for public comment

Bureaucracy, lags in approval are killing the construction industry, say developers

By: Kim Cloete     17th May 2019 Bureaucratic delays in getting property developments under way have badly damaged the development and construction industry, prompting a crisis, industry experts have outlined at the Western Cape Property Development Forum conference, in Cape Town. They have also lamented a "shocking" decline in... 

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