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Economy News

Significant untapped potential in local waste economy

By: Darren Parker     24th September 2021 The current contribution of the waste economy to South Africa’s gross domestic product (GDP) could significantly increase if the importance of implementing the waste management hierarchy is fully recognised, says waste management company Interwaste human resources and transformation director... 

Programme expands into other provinces

By: Darren Parker     24th September 2021 National Cleaner Production Centre South Africa’s (NCPC-SA’s) Industrial Symbiosis Programme (ISP) is on track to be launched in the Eastern Cape and the Free State before the end of the year, says NCPC-SA national programme manager Victor Manavhela. “We are to conclude feasibility studies in... 

A photo of plastic dustbins in the background, which are made from recycled waste plastic and rubber in bags shown in the foreground
REPURPOSED Where one company sees waste, another might see a valuable resource

Rubble recycling not seen as economically viable

By: Darren Parker     24th September 2021 The recycling of construction and demolition materials in South Africa is behind the global curve, partly because it is generally not viewed as economically viable by the vast majority of local companies operating in the sector, claims crushing and screening equipment supplier Pilot Crushtec... 

A photo of Pilot Crushtec Africa sales manager Fernando Abelho
FERNANDO ABELHO A lack of enforcement means much construction and demolition waste is not suitable for recycling into general aggregate

ArcelorMittal South Africa responds to Itac’s termination of safeguard probe

23rd September 2021 Earlier this month, the International Trade Administration Commission of South Africa (Itac) recommended that an investigation be terminated into the imposition of safeguard duties on certain steel sections manufactured at the Highveld Structural Mill. The application was lodged in June 2020 by... 

The Highveld Structural Steel Mill
Photo by Creamer Media
The Highveld Structural Steel Mill

Salga appoints two deputy presidents

By: Simone Liedtke     23rd September 2021 The South African Local Government Association (Salga) has appointed two deputy presidents to share the responsibility of leading the organisation towards the upcoming local government elections and the elective Salga national conference. Following a vacancy created by the departure of former... 

Reserve Bank keeps rates on hold, revises growth higher  

By: News24Wire      23rd September 2021 The South African Reserve Bank has kept the repo rate unchanged at 3.5%, in line with economists' expectations. During a media briefing on Thursday, Reserve Bank Governor Lesetja Kganyago said that all members of the Monetary Policy Committee were in favour of keeping the repo rate on hold.... 

South African Reserve Bank Governor Lesetja Kganyago
Reserve Bank Governor Lesetja Kganyago

SAA returns to the skies

By: Reuters     23rd September 2021 Jubilant South African Airways (SAA) staff at the country's biggest airport broke into song and dance on Thursday as the airline took to the skies for the first time in around a year. State-owned SAA's longstanding financial woes were exacerbated by the Covid-19 pandemic and it halted all... 

Risks linked to South Africa’s more ambitious decarbonisation pledge not yet ‘adequately addressed’ 

By: Terence Creamer     23rd September 2021 Minerals Council South Africa has signalled its support for South Africa’s transition to a low-carbon economy, but is concerned that the immediate risks associated with the country’s more ambitious decarbonisation targets are not being adequately addressed. CEO Roger Baxter told participants to a... 

Image from Daylin Paul’s photographic book, titled ‘Broken Land’, a visual narrative of the environmental and social impacts of coal in Mpumalanga
An image from Daylin Paul’s black and white photographic book, titled ‘Broken Land’, which offers a visual narrative of the environmental and social impacts of coal in Mpumalanga

Sasol's revised decarbonisation commitments 

23rd September 2021 Sasol has announced revised and accelerated decarbonisation commitments. Engineering News Editor Terence Creamer unpacks the significance of the 2030 target and the group’s promise to be net-zero by 2050.   

Photo of Terence Creamer
Sasol's revised decarbonisation commitments

Court rules race-based tourism fund criteria unlawful

By: Bloomberg     22nd September 2021 South Africa’s appeals court ruled the Department of Tourism’s focus on only black businesses for payouts to help the industry overcome the coronavirus pandemic is unlawful. The Bloemfontein-based court said the Minister of Tourism committed an error and is not legally obliged to allocate funds... 

Sasol triples 2030 decarbonisation target, makes net-zero by 2050 pledge 

By: Terence Creamer     22nd September 2021 Chemicals and energy group Sasol has announced a material acceleration of its decarbonisation plans, confirming that it will reduce greenhouse gas (GHG) emissions by 30% by 2030 rather than by the much-criticised 10% level to which it initially committed. CEO Fleetwood Grobler has also pledged... 

Sasol CEO Fleetwood Grobler
Photo by Creamer Media's Donna Slater
Sasol CEO Fleetwood Grobler

Takatso says it is still in talks over SAA investment

By: Reuters     21st September 2021 Takatso Consortium said on Wednesday it was still in discussions with South Africa's Treasury over its purchase of a 51% stake in the country's struggling national airline but said both parties were committed to an agreement. The transaction was large and complex and so might take time to... 

Industrial policy belongs at centre of development agenda – Godongwana

By: Terence Creamer     21st September 2021 Finance Minister Enoch Godongwana says industrial policy and the quest for industrialisation belong back at the centre of the development agenda and are critical for meeting South Africa’s aspirations for higher levels of economic growth, job creation, transformation and development. The South... 

Finance Minister Enoch Godongwana
Photo by Creamer Media
Finance Minister Enoch Godongwana

Engineering sector strike looms as wage talks deadlock

By: Donna Slater     21st September 2021 The National Union of Metalworkers of South Africa (Numsa) on Tuesday announced that it would embark on a national strike in the engineering sector from October 5, after wage talks deadlocked. Numsa has deadlocked with employer associations in engineering, namely the National Employers... 

Civil confidence index edges higher, but lack of work remains a concern

By: Simone Liedtke     21st September 2021 The civil confidence index ticked up slightly to 17 points in the third quarter, but despite the improvement, underlying indicators worsened in the quarter and industry respondents remained dissatisfied with prevailing business conditions. The civil confidence index, compiled by First National... 

Nkabane says South Africa will move ahead with nuclear procurement in 2022 

By: Terence Creamer     21st September 2021 Deputy Mineral Resources and Energy Minister Dr Nobuhle Nkabane says that South Africa plans to issue a request for proposal (RFP) for a 2 500 MW nuclear programme by the end of March 2022 and complete the procurement in 2024. In an address to the sixty-fifth general conference of the... 

Photo of the Koeberg nuclear power station
The only allocation made in the IRP 2019 for nuclear relates to extending Koeberg's life

Sasol, Imperial explore hydrogen options for decarbonising long-haul trucking

By: Terence Creamer     21st September 2021 South African companies Sasol and Imperial Logistics have entered into an agreement to explore options and solutions for decarbonising heavy-duty long-haul trucking, including through the use of fuel cell electric (FCE) trucks fuelled by green hydrogen. Sasol has already announced its intention... 

Photo of an Imperial Logistics truck
An Imperial Logistics truck

DDG Moahloli resigns from Treasury

By: Simone Liedtke     21st September 2021 Tshepiso Moahloli has resigned from her position as the National Treasury’s deputy director-general (DDG) of asset and liability management. The resignation will be official from October 15. 

Bojanala SEZ to create jobs, attract R8bn of investment

By: Yvonne Silaule     20th September 2021 The North West provincial government says the Bojanala Special Economic Zone will create an estimated 2 500 jobs and attract about R8-billion of investment. High on the agenda is mineral beneficiation; the creation of an industrial zone and a logistics park; and investment in information and... 

Cabinet endorses more ambitious carbon pledge ahead of Glasgow summit 

By: Terence Creamer     20th September 2021 Cabinet has approved a revised – and more ambitious – Nationally Determined Contribution (NDC) carbon mitigation target range for 2030 ahead of the upcoming COP26 gathering, which will take place in Glasgow, Scotland, in November. In a statement, Cabinet announced that South Africa had revised... 

A road to an Eskom power station
Photo by Creamer Media
Eskom plans to decommission 11 GW of coal by 2030

Plan to replace SAFARI-1 with multi-purpose nuclear reactor gets Cabinet nod

By: Terence Creamer     20th September 2021 Cabinet has approved the setting up of the multi-purpose nuclear reactor project to replace the current SAFARI-1 nuclear research reactor, owned by the South African Nuclear Energy Corporation (Necsa). The research reactor, located at Pelindaba, west of Pretoria, is a leading global producer of... 

The Pelindaba complex, west of Pretoria
The Pelindaba complex, west of Pretoria

BLSA deplores the UK’s decision to keep South Africa on the red list for travellers

By: Marleny Arnoldi     20th September 2021 In this week’s Business Leadership South Africa (BLSA) newsletter, CEO Busi Mavuso bemoans the UK authorities’ decision to keep South Africa on the “red list” for travellers. The UK imposed a traffic light system to determine the correct Covid-19 precautions related to travellers, which is... 

BLSA CEO Busi Mavuso
Photo by Creamer Media's Donna Slater
BLSA CEO Busi Mavuso

Eskom CEO bemoans slow pace of talks on cutting R402bn debt

By: Bloomberg     20th September 2021 Talks about reducing the South African state power utility’s R402-billion debt to a manageable level are taking too long, its CEO Andre de Ruyter said. Eskom Holdings, which produces most of South Africa’s power, can’t meet its running and debt service costs and is dependent on government... 

Johannesburg Mayor Jolidee Matongo dies in car accident

By: Bloomberg     20th September 2021 The mayor of Johannesburg died in a car accident Saturday after appearing at a campaign event with South African President Cyril Ramaphosa, News24 reported, citing sources who weren’t identified. Jolidee Matongo was elected mayor of South Africa’s economic hub last month, following the passing of... 

PetroSA mulls geothermal as way to offset ‘decommissioning liability monster’ 

By: Terence Creamer     17th September 2021 Embattled State-owned gas-to-liquids refiner PetroSA is considering plans to harness geothermal energy from its mature or depleted gas wells to produce electricity and delay decommissioning. Addressing a conference in Cape Town this week, Central Energy Fund (CEF) CEO Dr Ishmael Poolo reported... 

PetroSA refinery in Mossel Bay
Photo by Creamer Media
PetroSA refinery in Mossel Bay

State-owned defence group to pay trade union millions in salary arrears

By: Rebecca Campbell     17th September 2021 Trade union Solidarity announced on Friday that financially-embattled State-owned defence industrial group Denel had just paid it R4-million. The money is to cover the salary arrears of union members employed by Denel Dynamics and Denel Land Systems. “The payment of the salary money to Solidarity... 

Vaccination 'passport' not introduced to punish S Africans – Health Minister 

By: Sane Dhlamini     17th September 2021 Minister of Health Dr Joe Phaahla stressed on Friday that the vaccination certificate touted by government is not being introduced to punish South Africans but rather to protect each other against the Covid-19 virus. Following President Cyril Ramaphosa’s address last Sunday many South Africans... 

South African Minister of Health Dr Joe Phaahla
Minister of Health Dr Joe Phaahla

Competition Tribunal approves Growthpoint, Feenstra Group merger

By: Simone Liedtke     17th September 2021 The Competition Tribunal has unconditionally approved the large merger whereby Growthpoint Properties will acquire Joburg Stay from Feenstra Group.   This transaction involves an internal reorganisation of the Feenstra Group. As such, the target firms are Joburg Stay, seven Gauteng student... 

New online portal launched to showcase African green recovery projects

By: Terence Creamer     17th September 2021 A new web-based platform, which will showcase green stimulus projects across Africa, has been officially launched. The portal, which can be found at http://agsp.nepad.org/, was unveiled this week by South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy in her capacity as... 

A photo of a solar farm

Aftermarket guidelines beneficial to automotive industry

By: Darren Parker     17th September 2021 Competition Commission South Africa’s Automotive Aftermarket Guidelines, which came into effect in July, after being published in January, can be “hugely beneficial to motorists”, says tyre manufacturer and distributor Sumitomo Rubber South Africa CEO Lubin Ozoux. “However, consumers still have a... 

A photo of tyre stock inside Sumitomo Rubber South Africa’s Ladysmith plant in KwaZulu-Natal
WORKING TIRELESSLY After being looted in July, Sumitomo Rubber South Africa has tried to minimise the impact on dealers

Covid-19 vaccinations can be made mandatory

By: Khutso Maphatsoe     17th September 2021 Owing to the latest guidelines provided by the Department of Employment and Labour, which stipulates that Covid-19 vaccinations can be made mandatory by employers, companies would need to update their policies and procedures to ensure that they comply with the guidelines, which correspond with... 

Optimism prevails despite downturn

By: Darren Parker     17th September 2021 Despite setbacks caused by Covid-19, and the riots and looting in July, tyre manufacturer and distributor Sumitomo Rubber South Africa is optimistic about the sustainability of the local tyre market. Several new products have been launched over the past few months, particularly in the Dunlop... 

 A photo of the Dunlop Grandtrek AT3G two-ply white lettering tyre on a SUV
THEY SEE ME ROLLING Sumitomo Rubber South Africa launched the Dunlop Grandtrek AT3G two-ply white lettering tyre in June

New Merseta chamber to positively impact on sector

By: Darren Parker     17th September 2021 The creation of an automotive component manufacturers chamber at the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) has been a “game changer”, says National Association of Automotive Component and Allied Manufacturers (NAACAM) executive director... 

A photo of a worker handling automotive components in a factory
Photo by Bloomberg
PLAYING ITS PART The creation of an automotive component manufacturing specific chamber at the Merseta enables this subsector to deal with its own unique skills issues

Reskilling programme for retrenched workers completes first run

By: Darren Parker     17th September 2021 The final intake of learners for the maiden year of the Road to Reskilling training programme is set to take place later this month in Gqeberha, in the Eastern Cape. The programme was conceived as a means of reskilling and recapacitating 300 previously retrenched workers in the automotive... 

A photo of a high-tech automotive manufacturing facility and workers
MITIGATING THE IMPACT The Road to Reskilling programme was borne out of the need to reduce the impact of anticipated retrenchments from Covid-19

Successful year for initiative

By: Darren Parker     17th September 2021 The Automotive Supply Chain Competitiveness Initiative (ASCCI) World Class Manufacturing (WCM) programme has enjoyed a high level of participation over the past 12 months and is on track to complete 21 projects by the end of the year, National Association of Automotive Component and Allied... 

 A photo of a pair of safety gloves resting on a skip filled with steel automotive components
LOCAL IS LEKKER Localisation requires commercial competitiveness founded on skilled and knowledgeable personnel

Brain drain must not dissuade development

By: Darren Parker     17th September 2021 To foster a sustainable automotive component manufacturing sector in South Africa, the risk of locally developed skills being poached by other countries must be accepted without dissuading development, says education and training services provider Tetelestai Holdings CEO Natalie Nelson.... 

A close-up photo of precision tooling in action with sparks flying
Photo by Adobe
BRIGHT SPARKS The National Tooling Initiative Programme has begun a targeted apprenticeship that funds 15 learners in the toolmaking trade

Initiative advances TVET system

By: Darren Parker     17th September 2021 Following its initial launch in March last year, skills development initiative High Gear and its partners are launching several technical vocational education and training (TVET) curricula upgrades over the next six months. The High Gear initiative is a collaboration between the National... 

A photo young black men and women being trained by an older white man in an automotive component manufacturing facility
PASSING THE TORCH The improved skills pipeline enabled by High Gear will contribute towards the automotive components manufacturing sector’s localisation and transformation objectives
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