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Audio Articles

Mining weighs as economic growth slows to 0.8% in 2018 

By: African News Agency      5th March 2019 South Africa's economy grew by a lesser 0.8% last year after expanding 1.4% in 2017, the national statistics agency said on Tuesday. Growth in gross domestic product also slowed to 1.4% in the fourth quarter of 2018 from 2.6% in the third, dragged down by the mining, trade and general government... 

Gauteng preparing large projects to tap R100bn blended-finance infrastructure fund 

By: Terence Creamer     5th March 2019 Gauteng Finance MEC Barbara Creecy expressed optimism on Tuesday that the province’s experience in developing a pipeline of blended-finance projects would position it well to tap into the new infrastructure fund being developed by national government. Delivering a R132.4-billion budget for... 

Gauteng Finance MEC Barbara Creecy
Photo by Creamer Media's Terence Creamer
Gauteng Finance MEC Barbara Creecy

South Africa's private-sector activity expands in Feb – PMI 

By: Reuters     5th March 2019 Activity in South Africa's private sector expanded for the first time in eight months in February, as output stabilised and new orders fell at a slower pace, a survey showed on Tuesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 50.2 in February from 49.6 in January, breaching the 50... 

Rolfes H1 headline earnings rise by 33% y/y  

By: Tasneem Bulbulia     4th March 2019 JSE-listed Rolfes Holdings’ revenue from continuing operations increased by 13.5% year-on-year to R833.1-million for the six months ended December 31, 2018, as a result of higher volumes in certain divisions. The group noted, however, that the higher volumes could only be achieved at a lower... 

Bidvest lifts H1 earnings, appoints CEO designate 

By: Simone Liedtke     4th March 2019 JSE-listed services, trading and distribution company Bidvest’s headline earnings for the six months ended December 31, 2018, increased by 10% year-on-year to R2.1-billion, while headline earnings per share (HEPS) increased by 9.6% to 629.1c. The group declared an interim dividend of 282c a... 

Bidvest CEO-designate Mpumi Madisa (left) and Bidvest CEO Lindsay Ralphs (right)
Bidvest CEO-designate Mpumi Madisa (left) and Bidvest CEO Lindsay Ralphs (right)

Sugar, chicken imports contribute to 26% y/y decrease in RCL’s H1 earnings  

By: Marleny Arnoldi     4th March 2019 Food producer RCL Foods’ headline earnings decreased by 26.3% to R475-million for the six months ended December 31, 2018, compared with the R644-million reported for the six months ended December 31, 2017. This translated to headline earnings a share of 54.8c apiece, compared with 74.5c apiece... 

Sugar, chicken imports contribute to 26% y/y decrease in RCL’s H1 earnings

Second month of decline in domestic new-vehicle sales market 

By: Irma Venter     1st March 2019 Domestic new-vehicle sales faced a second consecutive month of decline this year, dropping by 6.5% in February, to 43 251 units, compared with the same month last year. New-vehicle sales numbers released on Friday showed that February new-passenger car sales fell by 13.3%, to 27 000 units. 

Second month of decline in domestic new-vehicle sales market

S&P revises Eskom outlook to stable in wake of govt’s R23bn-a-year pledge 

By: Terence Creamer     1st March 2019 Credit ratings agency S&P Global Ratings has revised its outlook on Eskom to stable from negative, following Finance Minister Tito Mboweni’s announcement of R23-billion a year of additional funding to the debt-laden State-owned electricity utility. The ratings agency affirmed its 'CCC+' and 'zaB'... 

S&P revises Eskom outlook to stable in wake of govt’s R23bn-a-year pledge

Virtual reality emerging as a mainstream skills-development tool 

By: Simone Liedtke     1st March 2019 Virtual Reality (VR) has hitherto been associated largely with the gaming industry. But as rates of digital penetration rise and the Fourth Industrial Revolution (4IR) increases the demand new skills sets, the technology is also becoming a mainstream business and skills-development tool.... 

Virtual reality emerging as a mainstream skills-development tool

Higher fibre packaging demand, selling prices lift Mondi’s FY18 Ebitda 

By: Marleny Arnoldi     28th February 2019 LSE- and JSE-listed packaging and paper group Mondi reported underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) of €7.4-billion for the year ended December 31, 2018. That was 19% higher than the Ebitda reported for 2017 and translated to an underlying operating... 

Mondi uncoated fine paper plant
Mondi uncoated fine paper plant

Imperial Logistics to cut deep at SA, European businesses 

By: Irma Venter     28th February 2019 Imperial Logistics will cut another 10% in overhead costs at its South African operations, as well as roughly 20% at its European operations, says CEO Mohammed Akoojee. Speaking at the company’s financial results announcement in Johannesburg on Thursday, he said the cuts were “material”, but... 

Mohammed Akoojee
Mohammed Akoojee

More meetings with labour planned on Eskom 

By: African News Agency      28th February 2019 The special Cabinet committee on Eskom will hold more meetings with organised labour to discuss the contentious restructuring of the struggling power utility into three units, according to a statement issued on Thursday. "The meeting with labour reported on the problems with Eskom’s operations... 

More meetings with labour planned on Eskom

Energy Regulator to announce Eskom tariff decision on March 7 

By: Terence Creamer     27th February 2019 The National Energy Regulator of South Africa (Nersa) will announce its decision on Eskom’s fourth multiyear price determination (MYPD4) application, as well as the State-owned utility's 2017/18 regulatory clearing account (RCA) submission on Thursday March 7. The determination will be released... 

Nersa panel members listen to presentations during recent public hearings into Eskom's revenue application
Photo by Creamer Media's Dylan Slater
Nersa panel members listen to presentations during recent public hearings into Eskom's revenue application

NTP Radioisotopes faces heavy losses this year but is confident of regaining market share  

By: Rebecca Campbell     27th February 2019 NTP Radioisotopes (NTP), a subsidiary of the State-owned South African Nuclear Energy Corporation, is expected to make a loss this year of R224-million, in comparison to profits of R108-million last year and of R184-million in 2017. This was stated in a written reply to a Parliamentary question... 

An aerial view of the South African Nuclear Energy Corporation complex at Pelindaba, which contains the NTP facilit
Photo by Duane Daws/Creamer Media
An aerial view of the South African Nuclear Energy Corporation complex at Pelindaba, which contains the NTP facilit

DBSA granted $100m to establish embedded generation investment programme   

By: Marleny Arnoldi     27th February 2019 The Green Climate Fund (GCF) has extended funding of $100-million to the Development Bank of Southern Africa (DBSA) to establish the Embedded Generation Investment Programme (EGIP). Embedded generation entails the production of electricity from generation facilities that are connected to the... 

DBSA granted $100m to establish embedded generation investment programme

US government agency’s backing of Tetra4 takes project ‘to next level’ – Renergen CEO  

By: Simone Liedtke     27th February 2019 Integrated alternative and renewable energy business Renergen on Wednesday announced that the US government’s development finance institution, the Overseas Private Investment Corporation (OPIC), had approved a $40-million loan facility in favour of Tetra4’s Virginia gasfield project. Tetra4 is a... 

Melbourne road project takes heavy toll on WBHO 

By: Irma Venter     26th February 2019 A botched roads project in Melbourne, Australia, saw operating profit at Wilson Bayley Holmes-Ovcon (WBHO) nose-dive from R510-million for the six months to end December 2017, to R3-million for the same period last year. The Western Roads Upgrade (WRU) design and construct project consists of the... 

Melbourne road project takes heavy toll on WBHO

Aveng outlines piecemeal sale process being pursued at Grinaker-LTA 

By: Terence Creamer     26th February 2019 JSE-listed construction and engineering group Aveng says the disposal process for Grinaker-LTA is well advanced, but has also confirmed that the company will not be sold as a single going concern. The R95-million sale of Aveng Water has already been agreed and newly appointed CEO Sean Flanagan... 

Aveng executive chairperson Eric Diack and CEO Sean Flanagan
Photo by Creamer Media's Dylan Slater
Aveng executive chairperson Eric Diack and CEO Sean Flanagan

Construction of new ships for South African Navy now under way  

By: Rebecca Campbell     26th February 2019 Construction of the first of three inshore patrol vessels (IPVs) for the South African Navy (SAN) formally started with a keel-laying ceremony at Damen Shipyards Cape Town (DSCT) on Saturday. The small ships are being acquired under the SAN’s Project Biro. This, first, IPV is expected to be... 

An artist’s impression of the three IPVs sailing off Cape Town
Photo by Damen
An artist’s impression of the three IPVs sailing off Cape Town

Mtentu bridge will be built, assures Sanral’s Kannemeyer  

By: Irma Venter     25th February 2019 The Mtentu bridge will be built, but when this will happen is not yet certain, says South African National Roads Agency Limited (Sanral) engineering executive Louw Kannemeyer. The Aveng Strabag joint venture (ASJV) in early February terminated the R1.6-billion bridge contract, in the Eastern Cape. 

The proposed Mtentu bridge
The proposed Mtentu bridge

Sasol to accelerate portfolio ‘simplification’ as review of 100 assets nears completion  

By: Terence Creamer     25th February 2019 Chemicals and energy group Sasol confirmed on Monday that its asset review was at an advanced stage and indicated that it would, in the coming months, accelerate efforts to simplify its portfolio. The group has indicated previously that it expects to realise more than $1-billion from the disposal... 

Sasol joint CEOs Bongani Nqwababa and Stephen Cornell to the left and right respectively of CFO Paul Victor
Sasol joint CEO Bongani Nqwababa on why 2019 is a 'defining year' for the group. Camera Work & Editing: Darlene Creamer. Recorded: 25.2.2019

Ramaphosa announces SIU Special Tribunal to fast track recovery of State funds  

By: News24Wire      25th February 2019 President Cyril Ramaphosa has established a Special Investigating Unit (SIU) Special Tribunal, in an effort to fast track the recovery of funds lost to the state from corruption or irregular spending. The Presidency said in a statement on Sunday that there was a need to fast-track the... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Transnet sets up war room to combat infrastructure-theft surge and line sabotage 

By: Terence Creamer     22nd February 2019 Transnet Freight Rail (TFR) has set up a war room together with the South Africa Police Service (SAPS) in a bid to deal with a surge in infrastructure theft, as well as recent acts of sabotage and vandalism on its key coal corridor from Ermelo, in Mpumalanga, to Richards Bay, in KwaZulu-Natal. On... 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage

South African central bank sees CPI target staying as range 

By: Bloomberg     22nd February 2019 South Africa’s central bank is unlikely to officially pursue a single point-inflation target soon even though it prefers to anchor price growth close to the 4.5% mid-point of its goal range, an adviser to Governor Lesetja Kganyago said. The target range of 3% to 6% allows for flexibility in... 

Adcock’s H1 trading profit rises 17% y/y to R485m 

By: Marleny Arnoldi     21st February 2019 JSE-listed pharmaceuticals manufacturer Adcock Ingram on Thursday reported a 17% increase in trading profit to R485-million for the six months ended December 31, 2018, compared with the R416-million profit posted in the comparable period of 2017. The company also reported a 16% increase in... 

AfriSam expects ‘tough 2019’ amid continuing political, policy uncertainty  

By: Simone Liedtke     21st February 2019 Construction materials company AfriSam CEO Rob Wessels expects “a tough 2019”, especially amid ongoing political and policy uncertainty. Wessels was, on Thursday, joined by political analyst Aubrey Matshiqi and AfriSam sales and marketing executive Richard Tomes at a briefing post Finance... 

AfriSam expects ‘tough 2019’ amid continuing political, policy uncertainty
AfriSam sales and marketing executive Richard Tomes discusses AfriSam and its expectations for 2019. Video: Perfect Directions. Editing: Creamer Media's Christo Greyling

Inclusion of strategic partner in grid company ‘not privatisation’ 

By: Terence Creamer     21st February 2019 Finance Minister Tito Mboweni insists that the inclusion of a strategic equity partner in the national grid company to be formed in mid-2019 as a result of the unbundling of Eskom into three separate State-owned entities does not amount to privatisation. The proposal is, nevertheless, likely to... 

Inclusion of strategic partner in grid company ‘not privatisation’

Govt revises contingency reserve to support cash-strapped SoEs 

By: Simone Liedtke     20th February 2019 With State-owned entities (SOEs) posing very serious risks to the fiscal framework, Finance Minister Tito Mboweni on Wednesday said that National Treasury was “taking very serious steps to fix the fiscal position and SoEs”. With funding requests from South African Airways (SAA), the South... 

Govt revises contingency reserve to support cash-strapped SoEs

‘No quick fixes’, Mboweni warns as Eskom bailout widens deficit 

By: Terence Creamer     20th February 2019 Finance Minister Tito Mboweni used his inaugural Budget address on Wednesday to outline the “tough steps” required to fix South Africa’s deteriorating fiscal position and the country’s failing State-owned enterprises (SoEs). He told lawmakers there were “no quick fixes”, while confirming a... 

Finance Minister Tito Mboweni
Photo by Bloomberg
Finance Minister Tito Mboweni

R69bn in support for Eskom made conditional on restructuring 

By: Terence Creamer     20th February 2019 Finance Minister Tito Mboweni has turned down a proposal for R100-billion of Eskom’s debt to be transferred across to the National Treasury, but has instead announced R23-billion a year in financial assistance for the debt-laden utility that is directly tied to a restructuring of the business.... 

Finance Minister Tito Mboweni
Photo by Bloomberg
Finance Minister Tito Mboweni

Load-shedding 'extremely dangerous' to local auto sector, warns Naamsa chairperson 

By: Irma Venter     19th February 2019 Load-shedding is “extremely dangerous” to the local automotive industry, says Toyota South Africa Motors (TSAM) president and CEO Andrew Kirby. Kirby is also chairperson of the National Association of Automobile Manufacturers of South Africa (Naamsa). 

TSAM president and CEO Andrew Kirby
TSAM president and CEO Andrew Kirby

Radebe says IRP to be finalised in March and promises to address IPP issues soon 

By: Terence Creamer     19th February 2019 Energy Minister Jeff Radebe listed the finalisation of the Integrated Resource Plan (IRP) for electricity as South Africa’s main energy priority and indicated on Tuesday the policy should be approved in March. Speaking on the sidelines of the 2019 edition of Africa Energy Indaba he said he would... 

Energy Minister Jeff Radebe
Energy Minister Jeff Radebe

Nampak marks 50 years on JSE amid moves to streamline and reduce environmental footprint 

By: Terence Creamer     19th February 2019 Packaging group Nampak, which celebrated 50 years on the JSE on February 19, is a markedly different business from the one that has its roots in a cardboard box-making factory established by John Herzberg in Waterkant Street, Cape Town, in 1918. Rising levels of automation across a portfolio of... 

Nampak marks 50 years on JSE amid moves to streamline and reduce environmental footprint

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem 

By: Terence Creamer     18th February 2019 Black business luminary Patrice Motsepe has labelled as “ridiculous” a recurring allegation that African Rainbow Energy & Power (AREP) is part of an unscrupulous plan to collapse Eskom and supplant the State-owned power utility with independent power producers (IPPs), in which the business would... 

AREP chairperson Patrice Motsepe
Photo by Creamer Media
AREP chairperson Patrice Motsepe

President Ramaphosa 'urgently' looking into e-tolls, says Makhura 

By: African News Agency      18th February 2019 Gauteng Premier David Makhura on Monday again assured residents in the province that the unwanted e-tolling system was receiving attention from national government. "While the user-pay principle is not in question, there is clear recognition that urban tolling increases the cost of living and is... 

 President Ramaphosa 'urgently' looking into e-tolls, says Makhura

Makhura envisages Gauteng as a 'single, multitier, mega-SEZ' 

By: Natasha Odendaal     18th February 2019 As Gauteng Premier David Makhura delivered his last State of the Province Address, on Monday, he envisaged a future wherein Gauteng would grow into a single, multitier, mega-special economic zone (SEZ). Addressing the province, he said South Africa’s most populous province should be raised one... 

Gauteng Premier David Makhura
Photo by Creamer Media
Gauteng Premier David Makhura

Gordhan’s IPP renegotiation proposal triggers ‘breach of contract’ warnings 

By: Terence Creamer     15th February 2019 A report indicating that the South African government may seek to renegotiate power purchase agreements (PPAs) concluded with independent power producers (IPPs) in 2011 and 2012 is raising alarm bells within the industry, which is still recovering from a protracted period of uncertainty created... 

Gordhan’s IPP renegotiation proposal triggers ‘breach of contract’ warnings

Banks urge Ramaphosa to put politics aside in fixing State firms  

By: Bloomberg     15th February 2019 A lobby group representing South African banks urged President Cyril Ramaphosa to prioritise the country’s wider interests rather than securing votes for the ruling African National Congress if he is to boost confidence in the economy before May elections. Ramaphosa’s plan to split its troubled... 

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