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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

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

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

Eskom CEO says 'days of surprises' over as problems exposed 

By: Bloomberg     17th April 2019 Almost 15 months into the job, and the boss of South Africa’s state-owned electricity company is getting to grips with issues spanning corruption to defective power plants that threatened to collapse the grid. “The days of surprises are over,” Eskom Holdings CEO Phakamani Hadebe said in an... 

South Africa's decline worst of nations not at war, model shows  

By: Bloomberg     17th April 2019 South Africa’s performance on a range of social, economic and governance measures deteriorated more in the past 12 years than any other nation not at war, according to Eunomix Business & Economics. The decline is likely to continue as the country wrestles with the consequences of nine years of... 

South Africa's decline worst of nations not at war, model shows

S&P Global downgrades Cell C on liquidity risks 

By: Creamer Media Reporter      17th April 2019 Ratings agency S&P Global Ratings has downgraded South Africa’s third largest mobile operator Cell C to 'CCC-', with a developing outlook, on the back of considerable short-term liquidity and refinancing risks. The mobile operator’s rating was lowered from ‘CCC+’ and ‘B-‘ on S&P’s issuer credit... 

EOH shares surge as restructuring takes form 

By: Schalk Burger     16th April 2019 JSE-listed information and communication technology (ICT) service provider EOH’s share price rose by 55.76% on Tuesday as the company reported its financial results for the six months ended January 31. The company reported a loss for the six months of R3.3-billion mainly owing to one-off costs... 

Policy and regulatory malaise undermining efforts to address power deficit 

By: Terence Creamer     16th April 2019 Lingering policy uncertainty and regulatory delays are continuing to impede the development of hundreds of small-scale embedded generation (SSEG) projects, which are seen at the quickest and cheapest way for South Africa to address its current electricity supply deficit. The South African... 

Policy and regulatory malaise undermining efforts to address power deficit

Fourth Industrial Revolution Centre launched in South Africa 

By: Rebecca Campbell     16th April 2019 South African Science and Technology Minister Mmamoloko Kubayi-Ngubane on Tuesday highlighted that the country's future development probably depended on how fast it mastered the technologies of the Fourth Industrial Revolution. She was addressing a breakfast forum to mark the setting up of a... 

Fourth Industrial Revolution Centre launched in South Africa
Photo by Creamer Media's Dylan Slater
Science and Technology Minister Mmamaloko Kubayi-Ngubane

Global finance chiefs prepared to 'act promptly' on growth 

By: Bloomberg     15th April 2019 Global finance ministers and central bankers are prepared to “act promptly” to shore up growth in a world economy that faces downside risks including trade tensions, according to a statement issued Saturday. While growth is projected to firm up in 2020, “risks remain tilted to the downside,”... 

Global finance chiefs prepared to 'act promptly' on growth
Photo by Bloomberg
South African Reserve Bank governor Lesetja Kganyago

Council, Minister discuss BBBEE achievements, shortfalls  

By: Creamer Media Reporter      15th April 2019 The Broad-Based Black Economic Empowerment (BBBEE) Advisory Council last week conceded that the generic 25% black ownership target across industries should be inclusive of active participation of the beneficiaries and not passive involvement. The council met with Trade and Industry Minister Dr... 

Activists push South African pension funds to tally climate costs  

By: Bloomberg     15th April 2019 Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue. Shareholder activists Just Share and environmental law organisation ClientEarth... 

Transnet to meet OEMs this month in bid to reach settlement on ‘unlawful’ locomotive contracts 

By: Terence Creamer     12th April 2019 State-owned logistics group Transnet will, during the course of April and May, seek to secure “just and equitable” negotiations with the four original equipment manufacturers supplying it with 1 064 diesel and electric locomotives under a R49-billion procurement programme concluded in 2015.... 

Transnet to meet OEMs this month in bid to reach settlement on ‘unlawful’ locomotive contracts

South Africa must do 'a lot more' work to improve credit ratings – S&P 

By: News24Wire      12th April 2019 It has been two years since Standard & Poor's downgraded South Africa's foreign currency debt to junk status, and the sticking point is its weak economic performance, an official of S&P Global Ratings has said. Speaking during a panel discussion at the S&P Global Annual South Africa Conference... 

South Africa must do 'a lot more' work to improve credit ratings – S&P

Supportive policy held up as key to unlocking Africa’s auto ambitions 

By: Irma Venter     12th April 2019 Policy certainty and flexible thinking will play an important role as Africa increasingly look to the automotive industry to grow its industrialisation footprint, says Thomas Schaefer, chairperson and MD at Volkswagen Group South Africa (VWSA), as well as chairperson of the African Association of... 

Supportive policy held up as key to unlocking Africa’s auto ambitions

SME sector ‘critical’ to growing South Africa’s economy – Pityana 

By: Simone Liedtke     11th April 2019 Business Unity South Africa (Busa) president Sipho Pityana on Thursday said the organisation would convene a Small Business Working Group to obtain the view of small and medium-sized enterprises (SMEs) to further determine the challenges facing the SME sector and seek solutions to those... 

SME sector ‘critical’ to growing South Africa’s economy – Pityana
Photo by Creamer Media's Dylan Slater
Busa president Sipho Pityana

Brexit deadline extension positive for South Africa – Parsons  

By: Tasneem Bulbulia     11th April 2019 The extension of the Brexit deadline to October 31 and avoiding a “no deal” Brexit outcome this week will give South Africa space to maintain continuity and predictability in its important trade relations with the UK and the European Union (EU), says North West University (NWU) Business School... 

Seifsa ‘disappointed’ by slower Feb manufacturing output growth 

By: Marleny Arnoldi     11th April 2019 The latest preliminary data published by Statistics South Africa (Stats SA) indicates that production in the broader manufacturing sector grew at a slower pace in February than in January. On a continuous three-monthly basis, output in the manufacturing sector has been volatile, increasing from... 

Seifsa ‘disappointed’ by slower Feb manufacturing output growth
Photo by Creamer Media's Dylan Slater
Seifsa economist Michael Ade

First ever image of Black Hole released by international consortium 

By: Rebecca Campbell     10th April 2019 The international science consortium called the Event Horizon Telescope (EHT) on Wednesday unveiled, in six simultaneous press conference around the world, the first image ever taken of a Black Hole. The object imaged was the supermassive Black Hole in the centre of the M87 galaxy, 55-million... 

First ever image of Black Hole released by international consortium
Photo by Event Horizon Telescope Collaboration
First image of a black hole

Nissan invests R3bn in Rosslyn plant to build Navara pickup 

By: Irma Venter     10th April 2019 Japanese vehicle manufacturer Nissan will invest R3-billion to prepare its Rosslyn plant, in Pretoria, for production of the Navara pickup.  Assembly will start in November 2020, and will add to current production of the NP300 one-ton bakkie and NP200 half-ton bakkie, which is set to continue. 

Nissan invests R3bn in Rosslyn plant to build Navara pickup
Photo by Creamer Media's Dylan Slater
Nissan Group of Africa MD Mike Whitfield

Business climate to remain in suspense until after elections – Sacci 

By: Marleny Arnoldi     10th April 2019 The South African Chamber of Commerce and Industry’s Business Confidence Index declined by 1.6 points month-on-month to 91.8 in March. The index is also 5.8 points below the March 2018 figure of 97.6.  

Modest economic growth predicted for South Africa  

By: Tasneem Bulbulia     9th April 2019 South Africa is relatively stable at present, with modest economic growth predicted, owing to a number of economic, public and political factors. This was unpacked at a panel discussion during Standard & Poor’s (S&P) Global's yearly South Africa conference, hosted under the theme ‘Navigating... 

Cost of decarbonising global energy system falls sharply, new report shows 

By: Terence Creamer     9th April 2019 Rapidly falling renewable-energy costs, together with emerging opportunities to electrify other energy end-uses such as transportation and heating, are continuing to reduce the investment premium associated with placing the world on a more climate-friendly path, a new international report... 

Cost of decarbonising global energy system falls sharply, new report shows

IMF trims South Africa's economic growth forecast to 1.2% 

By: Reuters     9th April 2019 The International Monetary Fund lowered its forecast for South Africa's economic growth to 1.2% in 2019 and to 1.5% in 2020, saying political and policy uncertainty remained a constraint on activity. South Africa has seen growth stagnate in the decade since the world's financial crisis, with... 

IMF trims South Africa's economic growth forecast to 1.2%

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

By: Tasneem Bulbulia     8th April 2019 The South African National Roads Agency Limited (Sanral) on Monday signed a memorandum of understanding (MoU) with rock crushing equipment supplier Pilot Crushtec to engender relationships with smaller contractors in the lower end of the construction industry. The MoU will facilitate access to... 

Pilot Crushtec partners with Sanral to help smaller contractors tender for projects
Photo by Creamer Media's Dylan Slater
At the MoU singing at Pilot Crushtec on Monday

Economic growth in Africa below population growth for the fourth year in row 

By: Terence Creamer     8th April 2019 Sub-Saharan Africa’s largest economies, including South Africa, continued to act as a drag on the economic performance of the region in 2018, new analysis by the World Bank shows. The nineteenth edition of the bank’s bi-annual ‘Africa’s Pulse’ publication indicates that growth across the... 

Economic growth in Africa below population growth for the fourth year in row
Report says digital transformation has potential to accelerate development in Africa

Universal considering offer from Afrimat 

By: Esmarie Iannucci     8th April 2019 South Africa focused coal miner Universal Coal has received a conditional, non-binding indicative counter offer from JSE-listed Afrimat to rival a previous offer from a consortium headed by Ata Resources. Universal on Monday reported that Afrimat was proposing to acquire all the shares in the... 

Universal considering offer from Afrimat
Universal Coal operates the Kangala mine.

Construction industry in rapid decline as work wanes, ‘mafia’ takes over, warns Safcec 

By: Irma Venter     8th April 2019 The South African construction industry is in a state of accelerated decline, says South African Forum of Civil Engineering Contractors (Safcec) CEO Webster Mfebe. This is caused mainly by a lack of new contracts flowing from government’s purse, as well as increased violence and thuggery on local... 

 Construction industry in rapid decline as work wanes, ‘mafia’ takes over, warns Safcec

TPT CE stresses need for faster turnarounds of vessels, trains 

By: Shirley le Guern     5th April 2019 It would no longer be business as usual at the Port of Durban, Transnet Port Terminals (TPT) CE Nozipho Sithole told the Transport Forum’s special interest group meeting, in Durban, on Thursday. Conceding that TPT was not yet where it wanted to be in terms of efficiency, consistency or... 

The humble Veldskoen makes its global debut 

By: Irma Venter     5th April 2019 The local ‘Veldskoen’ is expanding its reach beyond South Africa. The famous South African vellies have entered the US market through an investment made by American basketball team Dallas Mavericks owner, Mark Cuban, and his partners. Veldskoen is the first product released by DORP (Digital... 

The humble Veldskoen makes its global debut
The Veldskoen comes in a range of colours

Transnet execs seek balance between efficiency improvements, growth opportunities 

By: Shirley le Guern     5th April 2019 It is not about pouring concrete and spending, it is a war of efficiency, Transnet group executive of new business growth and diversification Herbert Msagala told a select special interest group convened at the Transport Forum, in Durban, on Thursday. In what he ultimately labelled an “honest and... 

Transnet execs seek balance between efficiency improvements, growth opportunities
Transnet group executive of new business growth and diversification Herbert Msagala

Lucas calls Northern Cape Africa’s renewables hub as she inaugurates Kathu Solar Park 

By: Marleny Arnoldi     4th April 2019 The Kathu Solar Park, in the Northern Cape, was inaugurated by the province’s Premier Sylvia Lucas, on Thursday. The project was commissioned in February. 

Lucas calls Northern Cape Africa’s renewables hub as she inaugurates Kathu Solar Park

Eskom review team says strong leadership key for restoration of plant performance 

By: Terence Creamer     4th April 2019 The Eskom Technical Review Team, appointed in March to provide an independent assessment of the performance of the State-owned utility’s power stations, says several coal plants can, with strong and empowered leadership, meet the much-vaunted energy availability factor (EAF) goal of 80%. It has... 

Eskom review team says strong leadership key for restoration of plant performance

Local telematics market has room to grow, says new Cartrack South Africa CEO 

By: Irma Venter     4th April 2019 Global telematics group Cartrack has appointed Harry Louw as the new CEO for its South African business. Louw is the former CEO of rival Netstar. 

 Local telematics market has room to grow, says new Cartrack South Africa CEO
Harry Louw

Eskom’s financial woes not abating in sync with load-shedding risk 

By: Terence Creamer     3rd April 2019 The cautiously optimistic prognosis provided by Eskom on the outlook for electricity supply for the coming nine months has been more than offset by the State-owned utility’s disturbing assessment of its financial predicament. The group, which implemented ten days of confidence-sapping power cuts... 

Eskom’s financial woes not abating in sync with load-shedding risk
Photo by Creamer Media's Terence Creamer
Lethabo power station

Economy to remain ‘weak, patchy’ until after national elections – PUI 

By: Simone Liedtke     3rd April 2019 Economic and policy uncertainty in South Africa is expected to remain elevated until after the national elections on May 8. According to the North West University Business School’s Policy Uncertainty Index (PUI), positive and negative trends appear to be putting the South African economy in a... 

Power cuts slow South African private sector activity in March – PMI 

By: Reuters     3rd April 2019 Activity in South Africa's private sector contracted sharply in March, a survey showed on Wednesday, with firms citing electricity blackouts as the main drag on business. IHS Markit's Purchasing Managers' Index (PMI) slipped to 48.8 from February's 50.2 as falls in new orders and employment saw... 

Power cuts slow South African private sector activity in March – PMI

Nkwinti announces changes to water dept’s procurement processes  

By: Tasneem Bulbulia     2nd April 2019 Water and Sanitation Minister Gugile Nkwinti on Tuesday announced a revamp of the procurement and project management processes for infrastructure projects within the Department of Water and Sanitation (DWS), in an effort to tackle corruption within the department. During a media briefing, in... 

Nkwinti announces changes to water dept’s procurement processes
Water and Sanitation Minister Gugile Nkwinti
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