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Audio Articles

Toyota South Africa will not produce the new generation Corolla  

By: Irma Venter     26th November 2018 Toyota South Africa Motors (TSAM) will not produce the new, twelfth-generation Corolla, unveiled earlier this month, the company confirmed on the weekend. “The next-generation Corolla will not be manufactured locally, but will be imported as a completely built up product,” TSAM told Engineering... 

The new, twelfth-generation Corolla
The new, twelfth-generation Corolla

Transnet halts Durban port berths project over tender probe  

By: Reuters     23rd November 2018 Transnet said on Friday it would stop a R7-billion ($505-million) project to deepen berths at Africa's biggest container terminal in the port city of Durban until a dispute over the awarding of a contract is resolved. Transnet, which operates nearly three-quarters of the African rail network,... 

South Africa realigns auto incentives as it seeks to raise local content to 60% by 2035 

By: Terence Creamer     23rd November 2018 South Africa’s revamped automotive industry framework places local content at the centre of any future support for the industry, with government having set a target of raising local content from less than 40% currently to 60% by 2035. The local-content target is outlined in the newly released... 

South Africa realigns auto incentives as it seeks to raise local content to 60% by 2035

WesBank departs Car of the Year, seeks ‘modernised’ approach to industry competitions  

By: Irma Venter     23rd November 2018 Vehicle and asset finance company WesBank is no longer the headline sponsor of the South African Guild of Motoring Journalists’ (SAGMJ’s) Car of the Year (COTY) competition. WesBank has sponsored the annual COTY competition for 32 consecutive years. There have been 33 COTY competitions to date. 

WesBank departs Car of the Year, seeks ‘modernised’ approach to industry competitions

Ramaphosa merges Ministries in Cabinet reshuffle 

By: Sashnee Moodley     22nd November 2018 President Cyril Ramaphosa announced on Thursday in his much anticipated Cabinet reshuffle the merging of the Telecommunications and Postal Services Ministry with the Communications Ministry, under the leadership of Minister Stella Ndabeni-Abrahams. The merger will take place after the 2019... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Cabinet approves extension of motor industry support programme to 2035 

By: Irma Venter     22nd November 2018 Cabinet announced on Thursday that it had approved the extension of the Automotive Production and Development Programme (APDP) from 2021 to 2035. The government support programme for the domestic vehicle manufacturing industry was originally scheduled to come to an end in 2020. 

Cabinet approves extension of motor industry support programme to 2035

Carbon Tax Bill provides for tax-free allowances of up to 95%, but concern over impact persists 

By: Terence Creamer     22nd November 2018 South Africa’s National Treasury has included several transitional tax-free allowances in the Carbon Tax Bill tabled in Parliament this week. The allowances will result in an effective carbon tax rate of between R6/t and R48/t for carbon dioxide-equivalent (CO2e) emissions released by industrial... 

Carbon Tax Bill provides for tax-free allowances of up to 95%, but concern over impact persists

Audit results of government departments show a shocking decline 

By: Kim Cloete     21st November 2018 The Auditor-General has been given more powers to crack down on national and provincial government department and their entities. This follows another year of overall decline in their audit results, with a rise in wasteful and irregular expenditure and weak financial controls. Releasing his... 

Auditor-General Kimi Makwetu
Auditor-General Kimi Makwetu

Eskom warns its debt could reach R550bn 

By: African News Agency      21st November 2018 Eskom's financial situation will remain dire for the next few years with a risk its debt burden would grow from R400-billion to some R550-billion in the foreseable future, the power utility's CEO Phakamani Hadebe conceded on Wednesday. "The institution is really under severe financial strain,"... 

Eskom CEO Phakamani Hadebe
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Datsun adds features to Go as competition heats up in entry-level market 

By: Irma Venter     21st November 2018 Datsun South Africa has sold just under 25 000 new Datsuns onto the local market since its launch in April 2014, says Datsun South Africa marketing manager Tessa Cooke. The revived entry-level Japanese brand has two products available in South Africa, namely the Go hatchback and the Go+... 

The refreshed Datsun Go
The refreshed Datsun Go

MCIT unchanged at 58 index points for Q3, drop to 50 expected for Q4 

By: Marleny Arnoldi     20th November 2018 The Manufacturing Circle Investment Tracker (MCIT) for the third quarter of 2018 revealed stable investment spending in line with industry expectation and firmly above the neutral 50-point mark, with the overall index flat at 58 index points. Albeit stable on a quarter-on-quarter basis, the... 

2018 new-vehicle sales, exports flat, but 2019 offers some hope, says Naamsa 

By: Irma Venter     20th November 2018 In its latest quarterly report, the National Association of Automobile Manufacturers of South Africa (Naamsa) says it expects South African new-vehicle sales to reach 558 000 units this year, inching up from last year’s 557 701 units. At this point in time, the association expects only a marginal... 

2018 new-vehicle sales, exports flat, but 2019 offers some hope, says Naamsa

Ford starts production of Raptor engine in Port Elizabeth 

By: Irma Venter     20th November 2018 The Ford Struandale engine plant, in Port Elizabeth, has started production of the new-generation diesel engines that are set to power the Ford Ranger Raptor and selected Ranger and Everest models that will be launched in the first half of 2019. The Port Elizabeth facility opened its doors in... 

Ford starts production of Raptor engine in Port Elizabeth

Eskom to buy ‘emergency’ coal, splurge on diesel as load-shedding risk returns 

By: Terence Creamer     16th November 2018 South Africa’s power utility Eskom reports that it has received approval for the National Treasury from the “urgent procurement” of four-million tons of emergency coal to help address serious stock shortfalls at several of its 15 coal-fired power stations. More than 1.1-million tons have already... 

Eskom CEO Phakamani Hadebe
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Regulator approves restart of NTP’s isotope production facility 

By: Marleny Arnoldi     16th November 2018 NTP Radioisotopes on Friday confirmed that the National Nuclear Regulator (NNR) had given it the go-ahead to resume production of essential medical radioisotopes at its Pelindaba facility. NTP, which is a subsidiary of State-owned South African Nuclear Energy Corporation (Necsa), will start with... 

Regulator approves restart of NTP’s isotope production facility

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet 

By: News24Wire      16th November 2018 National Treasury has released a bombshell report of more than 600 pages detailing the extent of rot at Transnet and Eskom over the last six years – and says Malusi Gigaba compromised the procurement process of controversial new Chinese locomotives. The report, compiled after a forensic... 

Former Home Affairs Minister Malusi Gigaba
Photo by Bloomberg
Former Home Affairs Minister Malusi Gigaba

Own revenue generation enables Gauteng to extend budget allocation by R1.9bn  

By: Marleny Arnoldi     15th November 2018 Finance MEC Barbara Creecy has increased the Gauteng Provincial Government’s budget by R1.9-billion to R123.2-billion, compared with the R121.4-billion budget that was announced in March. Presenting the Adjustment Budget and Medium Term Budget Policy Statement in the Gauteng Legislature, on... 

Sappi mulls further Saiccor expansion as it moves ahead with R7.7bn project 

By: Terence Creamer     15th November 2018 JSE-listed forest products group Sappi has confirmed that it is considering a further expansion of its giant Saiccor dissolving wood pulp (DWP) mill in KwaZulu-Natal, having only recently pulled the trigger on a R7.7-billion investment to expand output at the facility by 110 000 t/y. An... 

The Saiccor mill
The Saiccor mill

SA municipalities expect budget deficit of R4.7bn in 2018/19 – Treasury 

By: African News Agency      15th November 2018 The revenue for South African municipalities is expected to rise to R431.5-billion in 2019/20 and R462.5-billion in 2020/21 from a budgeted R404.6-billion for 2018/19, the National Treasury said on Thursday. In a statement on the medium term revenue and expenditure framework for municipalities,... 

SA municipalities expect budget deficit of R4.7bn in 2018/19 – Treasury

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes 

By: Terence Creamer     14th November 2018 Debt-laden electricity utility Eskom is preparing for yet another bruising encounter with consumers in the coming months, during which it will seek to justify it latest R762-billion, three-year revenue application. If successful with its fourth multiyear price determination (MYPD4) application,... 

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes

Investment pledges will add about R338bn to South Africa’s economic growth – PwC 

By: Tasneem Bulbulia     14th November 2018 The proposed investment pledges announced during the Presidential Investment Summit in October could add about R338-billion to South Africa’s gross domestic profit (GDP) between 2019 and 2024, says PwC. President Cyril Ramaphosa stated at the conference that “nearly R290-billion” had been pledged... 

Motus about more than car sales, says acting CEO 

By: Irma Venter     14th November 2018 Motus is on track to list on the JSE on November 22, in the specialised retail sector, following the unbundling of the Imperial group into its two main businesses: Imperial Logistics and Motus, with the latter housing all of its automotive related activities. Imperial was, in fact, founded as a... 

Ockert Janse van Rensburg
Ockert Janse van Rensburg

Electrifying the world no panacea for global warming, IEA says  

By: Bloomberg     13th November 2018 Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset... 

IEA warns of damaging price spikes if weak oil investment left unchecked 

By: Terence Creamer     13th November 2018 The International Energy Agency (IEA) is cautioning of “damaging price spikes in the 2020s” if the current weak investment in new oil supply is “left unchecked”. The agency states that the average level of new conventional crude oil project approvals over the last three years is only half the... 

IEA warns of damaging price spikes if weak oil investment left unchecked

Defence sector code gazetted 

By: Marleny Arnoldi     12th November 2018 Trade and Industry Minister Dr Rob Davies expects transformation in South Africa’s defence sector to gain traction, following the gazetting, on Monday, of the Defence Sector Code in terms of Section 9(1) of the Broad-Based Black Economic Empowerment Amendment Act. Davies says the development of... 

Vodacom posts H1 uptick  

By: Natasha Odendaal     12th November 2018 JSE-listed Vodacom on Monday posted growth across the board for the first half of the 2019 financial year, with service revenue up 6.1% to R36.8-billion and group revenue up 5.6% to R44.4-billion. During the six months ended September 30, the group achieved headline earnings a share of 385c, a 6%... 

South Africa needs an ‘explicit’ digital industrial policy 

By: Terence Creamer     12th November 2018 Trade and Industry Minister Dr Rob Davies is warning that unless South Africa develops and “explicit digital industrial policy” there is no guarantee that the potential benefits of the so-called Fourth Industrial Revolution will outweigh the disadvantages. South Africa has had an official... 

Trade and Industry Minister Dr Rob Davies
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Lazard says ‘inflection point’ reached making new renewables cheaper than existing coal 

By: Terence Creamer     9th November 2018 A new US study comparing the costs of energy from various generation technologies indicates that an “inflection point” has been reached where, in some cases, it is more cost effective to build and operate new renewable-energy projects than to maintain existing conventional generation plants. The... 

Lazard says ‘inflection point’ reached making new renewables cheaper than existing coal

Opic, Africell commit $100m to develop Africa’s telecommunications environment 

By: Natasha Odendaal     9th November 2018 US development finance institution Overseas Private Investment Corporation (Opic) and mobile telecommunications operator Africell have signed a financing deal that will see $100-million injected into the development of the telecommunications sector in Africa. The growth capital facility, one of... 

Toyota, VW developing seven black component suppliers, says DTI’s Davies 

By: Irma Venter     9th November 2018 Seven black-owned automotive component suppliers are currently undergoing an 18-month training programme, with the aim of supplying some of South Africa’s vehicle manufacturing plants in future, says Trade and Industry Minister Dr Rob Davies. Responding to a question in Parliament this week, he... 

Dr Rob Davies
Dr Rob Davies

Africa poised to be global renewable-energy leader – AfDB president  

By: Terence Creamer     8th November 2018 African Development Bank (AfDB) president Dr Akinwumi Adesina says Africa is poised to become the leading region for renewable-energy globally and has reaffirmed the bank’s support for the ambitious ‘Desert to Power’ programme in the Sahel region. Speaking in Johannesburg at the inaugural Africa... 

AfDB president Dr Akinwumi Adesina
Photo by Reuters
AfDB president Dr Akinwumi Adesina

To unlock sustained investment Africa must ‘resolve problems that keep investors away’  

By: Terence Creamer     8th November 2018 If Africa is to seize the opportunities of the future, it needs to mobilise large-scale, sustained investment, especially in infrastructure, President Cyril Ramaphosa said in his address at the Africa Investment Forum under way in Johannesburg this week. Organised by the African Development Bank... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Saudi Arabia makes $1bn bid for partnership with South African defence group Denel 

By: Reuters     8th November 2018 Saudi Arabia has made a $1-billion bid for a broad partnership with South African State-owned defence group Denel that would include the acquisition of a minority stake in a joint venture with Germany's Rheinmetall, a source familiar with the offer said. Currently heavily dependent on imports,... 

Saudi Arabia makes $1bn bid for partnership with South African defence group Denel

Eskom issues senior managers with retrenchment notice 

By: Terence Creamer     7th November 2018 The board at State-owned electricity utility Eskom has approved a process that could result in the retrenchment of senior managers, the company confirmed on Wednesday. Eskom said in a statement that, despite efforts to curb expenditure, operating costs had continued to increase dramatically,... 

Eskom issues senior managers with retrenchment notice

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’ 

By: Terence Creamer     7th November 2018 Transnet acting CEO Tau Morwe is prioritising the restoration of trust, internally and externally, which he acknowledges has been affected by the “turbulence” associated with recent action taken by the board to tackle corruption and recover money “siphoned” from the State-owned company. However,... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’

African Development Bank plans R10bn in loans to Eskom 

By: Reuters     7th November 2018 The African Development Bank plans to lend South African power utility Eskom around R10-billion ($720-million) in 2019 and 2020, the bank's president Akinwumi Adesina said. "We plan to lend around $620-million for the Medupi power plant, and around $100-million for Eskom's transmission network,... 

AfDB president Akinwumi Adesina
Photo by Reuters
AfDB president Akinwumi Adesina

South Africa joins the IEA as an association country 

By: Kim Cloete     6th November 2018 South Africa has joined the International Energy Agency (IEA) as an association country in a move it believes will bring it closer to the cutting-edge of technology and global energy governance. It is the first country in Africa to be afforded this status. 

IEA executive director Dr Fatih Birol and Energy Minsiter Jeff Radebe
IEA executive director Dr Fatih Birol and Energy Minsiter Jeff Radebe

Funding model not sustainable, warns Road Accident Fund as deficit soars to R206bn 

By: Irma Venter     6th November 2018 The Road Accident Fund’s (RAF’s) net deficit has jumped from R179.9-billion in the 2017 financial year, to R206.3-billion in the 2018 financial year, with the bulk of this related to unpaid claims. Claims liability has soared from R188-billion in the 2017 financial year, to R215-billion in the... 

Funding model not sustainable, warns Road Accident Fund as deficit soars to R206bn
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