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Economy News

Busa’s Pityana stresses need for approval, implementation of Economic Recovery Action Plan

By: Simone Liedtke 18th September 2020 Business Unity South Africa (Busa) President Sipho Pityana has called for a “more empathetic approach” with South Africa recently passing two important milestones on the road to salvaging its battered economy. These milestones comprise the Covid-19 lockdown having been scaled down to Alert Level... →

Open borders lauded by tourism stakeholders

By: Donna Slater 18th September 2020 Stakeholders in the tourism industry have lauded President Cyril Ramaphosa’s decision to allow restricted international travel to South Africa to resume as an effort to help rebuild the tourism and hospitality industry in South Africa. This sentiment was conveyed during a Governance... →

Nersa to learn next week if tariff-raising Eskom judgment can be appealed

By: Terence Creamer 18th September 2020 High Court Judge Fayeeza Kathree-Setiloane will decide next week whether to grant the National Energy Regulator of South Africa leave to appeal her July 28 judgment, which found the regulator’s decision to deduct a R69-billion equity injection into Eskom from its allowable revenue for the period... →

Govt commits to provide SAA with R10.5bn – administrator

By: Reuters 18th September 2020 South Africa has pledged R10.5-billion to South African Airways, one of the administrators of the ailing state-owned airline said on Friday. The administrators took control of SAA in December after almost a decade of financial losses and have been trying to keep it afloat as the coronavirus... →

Unions threaten legal action if government does not commit to saving State-owned airlines

By: Rebecca Campbell 18th September 2020 Two trade unions, the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca), have jointly announced that, together, they are going to challenge in court the liquidation of State-owned airlines South African Airways (SAA) and South African... →

DPWI, AgriSeta partner to train and certify 400 artisans

By: Marleny Arnoldi 18th September 2020 The Department of Public Works and Infrastructure (DPWI) has partnered with the Agricultural Sector Education Training Authority (AgriSeta) to provide artisan development training to 400 Expanded Public Works Programme (EPWP) participants. Artisan development is often overlooked by school... →

Cybersecurity has to remain ‘front of mind’ for miners, says panel

By: Simone Liedtke 18th September 2020 As the world becomes more connected through information technology (IT) and operational technology (OT), ABB local division manager for mining solutions John Manuell warns that cybersecurity will need “to remain front of mind”. With the advent and increasing use of digital technologies,... →

Initiative to accelerate technology strategies amid aerospace industry decline

By: Mamaili Mamaila 18th September 2020 The Aerospace Industry Support Initiative (AISI) plans to continue building technology strategies with industry for long-term implementation amid the industry’s decline of late. →

EVEN ODDS Although there are “pockets of excellence”, the local aerospace industry is very small and focuses almost exclusively on exports

Environmental concerns driving industry change

By: Mamaili Mamaila 18th September 2020 A disruptive change is currently underway in the heating, ventilation, air conditioning and refrigeration (HVAC-R) refrigerant market, global safety science company UL states. →

GOING GREEN Driven by environmental concerns, global promoters are advocating the phase-out of traditional refrigerants in favour of new alternatives with a lower global warming potential

Engineering collaboration assists local development

18th September 2020 Mechanical engineering contractor Brimis Engineering is working together with air conditioning contractor Blue Hemisphere on the heating, ventilation and air conditioning (HVAC) installation at the Middelburg Provincial Hospital. →

Breathalyser tests should be adapted, not cancelled

By: Darren Parker 18th September 2020 The misconceptions regarding the potential hygiene risks associated with alcohol breathalyser tests can have a significant negative impact on affected industries, since the safety of staff and expensive equipment can be compromised by intoxicated workers, says alcohol breathalyser and drug... →

RHYS EVANS Lives can be saved and accidents can be avoided if proper alcohol testing continues to be implemented

Acquisition ensures increased OHS offering

By: Darren Parker 18th September 2020 Facilities management services provider Afroteq Advisory, a subsidiary of holding company AFMS Group, expanded its service offering in the occupational health and safety (OHS) sector by acquiring OHS service provider OHS Africa. Acquired in May this year, the new division, OHSAfroteq, forms part... →

Photo by Adobe
A HEALTHY OUTCOME Covid-19 has put health and safety in the workplace at the top of the agenda

Covid-19 outbreak delays launch of dust suppression system

By: Darren Parker 18th September 2020 Environmental solutions company I-CAT intended to launch a new dust suppression system earlier this year but there were many delays owing to the national lockdown, says I-CAT director Lourens Jansen van Rensburg. “While the Covid-19 national lockdown halted many mining operations, the outbreak... →

A MIST OPPORTUNITY I-CAT’s new misting system launch was delayed because of Covid-19, but the company aims to launch it before the end of the year

Economists lament ‘missed opportunity’ of another repo rate cut

By: Simone Liedtke 17th September 2020 While the decision to leave interest rates unchanged at 3.5% is “disappointing”, North West University Business School economist Professor Raymond Parsons says South Africa’s basic policy priorities should now focus on “urgently implementing overdue economic reforms and ensuring security of... →

IPP Office says next renewables bid window by end Jan ‘latest’, but possibly before year-end

By: Terence Creamer 17th September 2020 The head of South Africa’s Independent Power Producer (IPP) Office, which performs the IPP procurement function on behalf of the Department of Mineral Resources and Energy (DMRE), says discussions are under way with the department to finalise the roll-out plan for the Section 34 determination... →

Infrastructure South Africa drafting 25-year National Infrastructure Plan

By: Marleny Arnoldi 17th September 2020 Public Works and Infrastructure Minister Patricia de Lille has confirmed that a single entry point for all the projects in the country's Infrastructure Investment Plan will be created, through an entity called Infrastructure South Africa (ISA). ISA will be at arm’s length from the Department of... →

Public Works and Infrastructure Minister Patricia de Lille

SA must now face corruption and second wave threat, warns business lobby

By: News24Wire 17th September 2020 Business 4 South Africa’s co-chair Martin Kingston joined President Cyril Ramaphosa's calls for the country to remain vigilant against Covid-19, as well as corruption within state procurement aimed at responding to the pandemic, as South Africa further lifts restrictions. Ramaphosa announced on... →

Photo by Creamer Media
B4SA co-chair Martin Kingston

Numsa union accuses Comair business rescuers of bullying employees

By: African News Agency 17th September 2020 The National Union of Metalworkers of South Africa on Thursday accused the business rescue practitioners at Comair of attempting to blackmail employees into signing away their rights ahead of a crucial creditors meeting tomorrow. In a statement, Numsa said the practitioners had not consulted... →

CDH lawyer warns of retrenchment pitfalls

By: Simone Liedtke 17th September 2020 With a continued low economic growth rate and rising unemployment still painting a bleak picture for South Africa, law firm Cliffe Dekker Hofmeyr (CDH director Jose Jorge warns that companies will “continue to tighten their belts” in the months ahead, meaning more job losses are likely on the... →

Economy breathes welcome sigh for Level 1, while alcohol, travel industries remain aggrieved

By: Marleny Arnoldi 17th September 2020 With President Cyril Ramaphosa having announced the move to a Level 1 lockdown for South Africa, effective September 20, positive reactions have been streaming in from all spheres of the economy, but grievances around weekend alcohol sales, the curfew and only partially reopened borders remain.... →

Knysna Ziplines opens to the public

By: Tasneem Bulbulia 17th September 2020 Knysna Ziplines, the Garden Route’s longest and highest zipline is ready for those scouting for an exhilarating expedition, and will open to visitors on September 18. The ziplines were given a thumbs up to proceed with construction in 2017, but were disrupted by the 2017 Knysna fires. Work... →

Knysna Ziplines

Some positive movement on the electricity front

17th September 2020 Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the National Energy Regulator of South Africa's concurrence with a Ministerial determination that paves the way for the resumption of regular procurement and the significance of Eskom having signalled its support... →

Some positive movement on the electricity front

Ramaphosa announces move to Level 1: 'Prepare for the new normal'

By: News24Wire 16th September 2020 President Cyril Ramaphosa has announced that South Africa will move to Alert Level 1 of the lockdown at midnight on Sunday. This will see larger gatherings being permitted, along with international travel, the sale of alcohol allowed from Monday to Friday, and the curfew shifted to midnight. →

President Cyril Ramaphosa

Renewables body optimistic next bidding round can be ‘expedited’

By: Terence Creamer 16th September 2020 The South African Renewable Energy Council (Sarec) expressed optimism on Wednesday that the long-awaited fifth bid window (BW5) of the Renewable Energy Independent Power Producer Procurement Programme could be fast-tracked in light of the energy regulator’s recent concurrence with a Ministerial... →

Sansa awarded an additional R4.47bn to develop the Space Infrastructure Hub

By: Yvonne Silaule 16th September 2020 The South African National Space Agency (Sansa) has been awarded R4.47-billion in additional funding for the next three years to develop the Space Infrastructure Hub (SIH). The SIH is part of government’s Sustainable Infrastructure Development Symposium South Africa (Sidsa) initiative. →

Higher Education, Science and Innovation Minister Dr Blade Nzimande

Papillon makes ‘good progress’ in making board changes for Mayflower transaction

By: Simone Liedtke 16th September 2020 London-listed investment company Papillon Holdings nonexecutive director Lord Monson has been appointed nonexecutive chairperson. He succeeds James Longley, who remains CFO and nonexecutive director. →

Brand new 33 MW Western Cape wind farm connects to grid

By: Terence Creamer 16th September 2020 The 33 MW Excelsior Wind Energy Facility, in the Western Cape, has been connected to South Africa’s load-shedding-prone national grid, with all 13 of its wind turbines having been successfully commissioned. The facility is believed to be the first Renewable Energy Independent Power Producer... →

BioTherm Energy's 33 MW Excelsior Wind Energy Facility

Mpact declares force majeure at Springs mill amid municipal power outage

By: Simone Liedtke 16th September 2020 Paper and packaging producer Mpact has declared force majeure at its Springs paper mill in relation to a near-month-long power interruption, and as a consequence, not being able to produce. The mill has been without electricity supply from 18:00 on August 19, when an explosion and fire at the... →

Ramaphosa's economic recovery plan gets the green light from business, labour

By: News24Wire 16th September 2020 The National Economic Development and Labour Council has agreed to an economic recovery plan for South Africa. According to a statement issued by the Presidency on Tuesday, following a meeting between President Cyril Ramaphosa and Nedlac - a body comprised of representatives of government,... →

CDC aiming to secure CEO replacement for long-serving Silinga by year-end

By: Terence Creamer 16th September 2020 The Coega Development Corporation (CDC) has formally initiated a recruitment process to secure a replacement for its long-serving CEO, Pepi Silinga, who has been appointed CEO of Transnet National Ports Authority, effective October 1. The position has been advertised internally and externally and... →

Pepi Silinga

Digital technologies drive transformation in mining

By: Simone Liedtke 15th September 2020 With many things having changed, never to be the same, Microsoft South Africa enterprise director Amr Kamel says of the power of technology: “It will always help people and organisations to adapt, re-invent and transform”. South Africa’s mining industry contributed R360-billion to the country's... →

Microsoft South Africa enterprise director Amr Kamel

UIF announces final TERS application closing dates

By: Donna Slater 15th September 2020 The Unemployment Insurance Fund (UIF) has extended the processing of new claims for April to September following consultations with social partners at the National Economic Development and Labour Council. The new closing dates are final, with the UIF stating that no further applications for that... →

PPC makes ‘positive progress’ on restructuring, finance project

By: Simone Liedtke 15th September 2020 JSE-listed cement manufacturer PPC Cement has made positive progress on its restructuring and finance programme, with the objective of implementing a sustainable capital structure. PPC has received funding confirmation from South African lenders, who the company says will provide various short-... →

Bidvest delivers solid results in tough climate

By: Tasneem Bulbulia 14th September 2020 JSE-listed Bidvest Group delivered a credible financial performance for the financial year ended June 30, despite the headwinds presented by an already constrained South African economy pre-Covid-19 and the pandemic’s severe impact on the final quarter of the financial year. Group revenue from... →

IDC approves R746m for Covid-19 economic relief

By: Tasneem Bulbulia 14th September 2020 Development finance institution, the Industrial Development Corporation (IDC) has approved R746-million and disbursed R440.8-million as part of government’s Covid-19 economic relief measures. Following the onset of Covid-19 in South Africa, the IDC established three interventions in March. →

Pandemic has influenced due diligence priorities for M&A activity, says law firm

By: Marleny Arnoldi 14th September 2020 International law firm Herbert Smith Freehills says levels of merger and acquisition (M&A) activity are increasing around the world, having dropped off significantly when the Covid-19 pandemic first hit. “While we are seeing some distressed M&A as activity picks up, government support packages,... →

DMRE targeting December for initiation of fifth renewables bid window

By: Terence Creamer 14th September 2020 The Department of Mineral Resources and Energy (DMRE) has clarified that it is aiming to release bid documentation for the so-called fifth bid window (BW5) of South Africa’s renewable-energy procurement programme in December, following receipt of the regulator’s concurrence with a Ministerial... →

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Africa Business Energy Environment Export Resources Road Financial Efficiency Innovation PROJECT Projects Service Sustainable Training Infrastructure Services ... more

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