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Audio Articles

Modi, Ramaphosa announce 3yr strategic cooperation programme 

By: Marleny Arnoldi     25th January 2019 Indian PM Narendra Modi and President Cyril Ramaphosa have agreed that considerable scope exists for India and South Africa to grow their bilateral economic relationship. “To ensure concrete deliverables Modi and I concluded this morning a three-year Strategic Programme of Cooperation aimed at... 

President Cyril Ramaphosa
President Cyril Ramaphosa

South Africa farmers seek R3bn in drought aid 

By: Reuters     25th January 2019 South Africa's agricultural industry body AgriSA will approach banks, agribusiness and government to raise R3-billion to help farmers hit by severe drought, its executive director said on Friday. Farmers have faced dry conditions over most of the nation for the last year, even as they are still... 

Eskom should be split, experts to tell president – sources 

By: Reuters     24th January 2019 South Africa's Eskom could be split into three separate firms under proposals from experts President Cyril Ramaphosa has hired to help revive the ailing state power company, two sources familiar with the matter told Reuters. Reforming Eskom is vital to get Africa's most industrialised economy... 

Eskom warns of impact of rising municipal debt on its sustainability 

By: Tasneem Bulbulia     24th January 2019 Rising municipal debt, coupled with Eskom’s poor financial and operational performance, pose a systemic risk to the sustainability of the company, State-owned Eskom CFO Calib Cassim said during public hearings into Eskom’s three-year tariff application, in Bloemfontein, on Wednesday. Cassim said... 

Vodacom’s strong international operations offset South Africa’s lagging performance 

By: Natasha Odendaal     24th January 2019 JSE-listed Vodacom’s international operations have boosted the group’s financial performance in the quarter ended December 31, 2018, after a dip in the South African operations. The group’s revenue was up 1.5% to R23-billion and service revenue increased by 2.4% to R18.9-billion, while group data... 

Vodacom’s strong international operations offset South Africa’s lagging performance

State capture commission will not be collapsed, says Ramaphosa 

By: African News Agency      23rd January 2019 Government will not allow anyone to collapse the commission of inquiry into state capture, President Cyril Ramaphosa said on Wednesday. Addressing a media briefing at the World Economic Forum in Davos, Switzerland, Ramaphosa said revelations at the commission, which has implicated several cabinet... 

South Africa turning things around after 'decade of stagnation and paralysis' – Ramaphosa 

By: African News Agency      23rd January 2019 President Cyril Ramaphosa said that after almost a decade of "economic stagnation and political paralysis", South Africa has begun to turn things around. Speaking at a press conference at the World Economic Forum in Davos, Switzerland, Ramaphosa said: "We have entered a new period of hope and... 

World Bank says Eskom debt restructuring should be coupled to power market reform  

By: Terence Creamer     23rd January 2019 World Bank country director Paul Noumba Um believes the South African government is moving in the “right direction” by pursuing discussions on possible debt relief for Eskom in conjunction with plans for restructuring the utility and overhauling the architecture of domestic power market. He also... 

World Bank country director Paul Noumba Um
World Bank country director Paul Noumba Um on restructuring of Eskom and the need for power-market reform. Camera Work & Editing: Darlene Creamer

MTN has paid $53m to settle Nigeria dispute – central bank 

By: Reuters     22nd January 2019 MTN has paid $53-million to settle a money transfer dispute with Nigeria's central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday. The central bank had ordered MTN and its lenders to bring back a total of $8.1-billion it alleged the company had... 

World Bank says confidence not enough to lift South Africa’s growth prospects  

By: Terence Creamer     22nd January 2019 The World Bank expects South Africa's growth to pick up modestly in 2019 to 1.3% on the back of several “promising” policy announcements made by President Cyril Ramaphosa’s administration in 2018. It expects the economy to expand by 1.7% in 2020. Nevertheless, the bank believes that the country’s... 

World Bank progam leader Sebastien Dessus
World Bank progamme leader for equitable growth, finance and institutions Sebastien Dessus on South Africa’s 2019 growth outlook. Camera Work & Editing: Darlene Creamer. Recorded: 22.1.2019

South Africa says there is no Saudi proposal on Denel under consideration 

By: Reuters     22nd January 2019 The South African government is not considering any proposal from Saudi Arabia on taking a stake in struggling state arms company Denel, Public Enterprises Minister Pravin Gordhan said, after the Gulf country offered to partner with Denel last year. "There is no proposal from the country in... 

South Africa says there is no Saudi proposal on Denel under consideration

Armscor grants CEO special leave to prepare for State capture inquiry

By: Marleny Arnoldi     21st January 2019 Armaments Corporation of South Africa (Armscor) CEO Kevin Wakeford has requested special leave, after his name was mentioned during testimony before the Zondo Commission Inquiry into State Capture last week. IOL News reported on Sunday that Bosasa’s former COO Angelo Agrizzi last week told the... 

New construction process proposed for Gautrain expansion project

By: Irma Venter     21st January 2019 More than halfway through the 15-year Gautrain concession period, Gautrain Management Agency (GMA) CEO Jack van der Merwe says he is pleased with the operation of the 80-km rail system. “Looking back at building the Gautrain there are positives and negatives. A positive is that we have an... 

 New construction process proposed for Gautrain expansion project

South Africa may double power purchases from Congo hydro plant

By: Bloomberg     21st January 2019 South Africa is mulling committing to doubling the amount of electricity it will buy from a proposed multibillion-dollar hydro power plant in the Democratic Republic of Congo. Increasing the amount of electricity that South Africa will buy has become a linchpin for the companies seeking to build... 

South Africa may double power purchases from Congo hydro plant

Radebe insists IRP to be approved soon, amid Nedlac uncertainty 

By: Terence Creamer     18th January 2019 Energy Minister Jeff Radebe has reiterated that Cabinet could soon approve the long-awaited update to South Africa’s Integrated Resource Plan (IRP) for electricity, despite persistent suggestions that National Economic Development and Labour Council (Nedlac) sign-off of the document is still... 

Radebe insists IRP to be approved soon, amid Nedlac uncertainty

Clough JV selected as preferred tenderer for civil works at Australian hydropower project 

By: Creamer Media Reporter      18th January 2019 The Clough Salini Joint Venture (JV) has been selected as the preferred tenderer for about A$4-billion worth of civil works packages for the Snowy 2.0 project – a multiyear infrastructure project. Clough is a wholly owned subsidiary of Murray & Roberts and has a 35% shareholding in the JV. 

Aveng sells noncore Aveng Water business  

By: Tasneem Bulbulia     18th January 2019 JSE-listed Aveng will sell Aveng Water and the Aveng Namibia Water business to Cambrose 735, a special purpose vehicle incorporated as a private company, Infinity Partners, for the purpose of the transaction, for R95-million. Infinity Partners is a 100% black-owned company jointly held by... 

Aveng sells noncore Aveng Water business

African entities urged to be proactive in growing the continent's economies  

By: Tasneem Bulbulia     17th January 2019 Africa is sitting on the financial periphery and the onus is on entities on the continent to take proactive measures to grow countries’ economies and drive market reforms, Deloitte Africa Emerging Markets MD Dr Martyn Davies said on Thursday. Speaking at the Deloitte Africa in 2019 Outlook... 

Deloitte Africa Emerging Markets MD Dr Martyn Davies
Deloitte Africa Emerging Markets MD Dr Martyn Davies outlines the strategy African entities should take this year to bolster economies on the continent. Video and editing: Nicholas Boyd.

Gautrain seeks ways to grow ridership as 2018 hits govt's pocket 

By: Irma Venter     17th January 2019 The patronage guarantee payable by the Gautrain Management Agency (GMA) to the Bombela Concession Company (BCC), as the Gautrain operator, has increased from R1.34-billion in the 2016/17 financial year, to around R1.5-billion for the 2017/18 financial year. GMA CEO Jack van der Merwe says the... 

Gautrain seeks ways to grow ridership as 2018 hits govt's pocket

Team SA to demonstrate country’s ‘stronger footing’ at this year’s WEF  

By: Tasneem Bulbulia     16th January 2019 Team South Africa will be taking a unified approach to this year’s edition of the World Economic Forum (WEF) and will convey the message that the country is on a stronger footing than it was last year, President Cyril Ramaphosa said during a pre-WEF breakfast, in Rosebank, on Wednesday. The... 

President Cyril Ramaphosa
Photo by Creamer Media
President Cyril Ramaphosa

Trade conditions to remain subdued, warns Sacci 

By: Marleny Arnoldi     16th January 2019 The South African Chamber of Commerce and Industry’s (Sacci’s) trade conditions survey for December showed that activity had improved slightly on November, if adjusted for seasonal factors, while six-month prospects remained subdued. The seasonally adjusted Trade Activity Index (TAI) was at 47,... 

South Africa aims to finalise long-term energy plan next month – Radebe 

By: Reuters     16th January 2019 South Africa is aiming to finalise a long-term plan for the country's energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. "We are aiming for February," Radebe told Reuters, when asked when the... 

Energy Minister Jeff Radebe
Photo by Dylan Slater
Energy Minister Jeff Radebe

Electricity increases will badly hurt the poor, say community leaders, residents  

By: Kim Cloete     15th January 2019 Community and faith leaders, as well as pensioners and residents, have called on the National Energy Regulator of South Africa (Nersa) to oppose Eskom’s request for a tariff hike, with a projected overall increase of 45% to 2021. “If granted, this price increase will severely impact on all... 

Electricity increases will badly hurt the poor, say community leaders, residents

SAA appoints former prosecution chief to its group executive 

By: Rebecca Campbell     15th January 2019 Embattled State-owned flag-carrier South African Airways (SAA) announced on Tuesday that Advocate Vusi Pikoli had been appointed as the airline’s Chief Risk and Compliance Officer. He will take up the post on February 1. Pikoli is currently an advisor to the Minister of State Security. He was,... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa  

By: Reuters     15th January 2019 Investment bank Goldman Sachs said South Africa's rand could tumble 3.5% if State-run power utility Eskom suffers a major sell-off in its bonds, but it could also jump 4.5% if the firm's troubles improve. Goldman's analysts said an Eskom risk gauge used by the bank was now close to its most... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa

Eskom warns of 'debt trap' as it pleads for 15% hike  

By: Kim Cloete     14th January 2019 Eskom CEO Phakamani Hadebe has apologised for the severe predicament Eskom is in, but has pleaded for an electricity tariff increase of 15% over the next three years.   Hadebe made the call at the opening of public hearings into electricity tariffs held by the National Energy Regulator of South... 

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

Denel reaffirms commitment to transformation  

By: Marleny Arnoldi     14th January 2019 State-owned arms manufacturer Denel on Monday reaffirmed the validity of its decision to appoint Daniel du Toit group CEO, after stakeholders raised concerns. Du Toit’s appointment was announced in December.  

Denel chairperson Monhla Hlahla
Photo by Dylan Slater
Denel chairperson Monhla Hlahla

Agri-hub seen as key post-mining-economy jobs driver in west Gauteng  

By: Terence Creamer     14th January 2019 An ambitious plan to develop Gauteng’s West Rand into an agri-industrial hub, primarily producing high-value crops for domestic and export markets, is starting to take shape and is expected to be officially launched during the first quarter of 2019. The initiative has been branded ‘Bokamoso Ba... 

The programme is part of bigger plan to build a sustainable post-mining economy in the West Rand
Photo by Sibanye-Stillwater
The programme is part of bigger plan to build a sustainable post-mining economy in the West Rand

AB InBev soars on possible IPO of Asian business 

By: Bloomberg     11th January 2019 Anheuser-Busch (AB) InBev's shares jumped the most since 2015 after people with knowledge of the matter said the world’s largest brewer is considering an initial public offering of its Asian operations as a way to unlock value after a string of acquisitions left it saddled with debt. The Leuven,... 

Cerba, Lancet are said to agree Africa deal for $123m 

By: Bloomberg     11th January 2019 Cerba HealthCare SAS, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for as much as 12.5-billion Kenyan shillings ($123-million), said a person familiar with the matter. Paris-based Cerba will hold a 51% stake... 

Cerba, Lancet are said to agree Africa deal for $123m

Ramaphosa calls on private sector to assist with fighting corruption  

By: News24Wire      11th January 2019 Corruption has become a big issue that has to be addressed by the whole nation, President Cyril Ramaphosa said on Thursday. Ramaphosa told business leaders at a meeting in the Pietermaritzburg City Hall, that a number of issues, especially corruption, were hampering economic development in the... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Manufacturing production up 1.6% y/y in November  

By: Tasneem Bulbulia     10th January 2019 Manufacturing production increased by 1.6% year-on-year in November, Statistics South Africa reported on Thursday. The largest positive contributions were made by the food and beverages; and motor vehicles, parts and accessories and other transport equipment sectors. 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans 

By: Simone Liedtke     10th January 2019 The joint business rescue practitioners (BRPs) of Optimum Coal Mine (OCM) and Koornfontein Mines (KFT) expect to convene meetings with creditors within the next few weeks to vote on the proposed business rescue plans for the mines. The meetings will take place once the BRPs have resolved... 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans

Second member resigns from Ramaphosa's Eskom task team 

By: News24Wire      10th January 2019 A second member of President Cyril Ramaphosa's task team on Eskom has stepped down, the Presidency spokesperson Khusela Diko confirmed to Fin24. Diko told Fin24 on Thursday via Whatsapp that Sy Gourrah of Actom had asked to leave the task team in December. 

 Second member resigns from Ramaphosa's Eskom task team

ABSA PMI ends 2018 on a positive note 

By: Simone Liedtke     9th January 2019 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ended 2018 on a positive note, reaching the best level of the year – 50.7 – in December. This was an improvement from the 49.5 recorded in November. 

ABSA PMI ends 2018 on a positive note

Hilux sales top 40 000 units, Suzuki, Bentley fly, Merc takes a knock 

By: Irma Venter     9th January 2019 The Toyota Hilux is yet again South Africa’s favourite vehicle, selling a whopping 40 018 units in 2018. This is up 10% on 2017 sales, at 36 422 units. 

Hilux sales top 40 000 units, Suzuki, Bentley fly, Merc takes a knock

Rand to weaken in volatile trade this year 

By: Reuters     9th January 2019 South Africa's rand will lose over 3% of its value in volatile trade against the dollar this year, a Reuters poll of market strategists found on Wednesday, but should be cushioned by wavering expectations for US interest rates. The health of the world's two biggest economies - the United States... 

Rand to weaken in volatile trade this year

Global economic growth to slow to 2.9% this year – World Bank 

By: Simone Liedtke     8th January 2019 Global economic growth is projected to soften from a downwardly revised 3% in 2018 to 2.9% this year amid rising downside risks to the outlook, the World Bank said on Tuesday. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging... 

World Bank CEO Kristalina Georgieva
World Bank CEO Kristalina Georgieva
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