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Economy News

Release of IRP 'imminent' – Energy Minister

By: African News Agency      14th May 2019 South Africa's Integrated Resource Plan, which will set out South Africa's future energy mix, would be "concluded imminently", Energy Minister Jeff Radebe said on Tuesday. Speaking at African Utility Week taking place at the Cape Town International Convention Centre, Radebe said the IRP was still... 

Unemployment rate increases to 27.6% in Q1

By: Tasneem Bulbulia     14th May 2019 South Africa's unemployment rate increased by 0.5 of a percentage point to 27.6% for the first quarter of this year, Statistics South Africa's latest Quarterly Labour Force Survey shows. The increase in the unemployment rate is attributable to a decline of 237 000 in the number of people in... 

Unemployment rate increases to 27.6% in Q1

Trade tensions hold rand down

By: Reuters     14th May 2019 South Africa's rand was mostly flat on Tuesday, struggling to bounce back from a flare-up in US-China trade tensions that had dragged the currency down a day earlier. Fresh tariff war volleys between the world's two biggest economies were also weighing on markets in Asia and Australia, though... 

Trade tensions hold rand down

Global energy investment out of step with security of supply, climate needs  

By: Terence Creamer     14th May 2019 A new report on global energy investment in 2018 points to an ongoing misalignment between approved expenditure on new fuel and power projects and meeting the twin goals security of supply and decarbonisation. The International Energy Agency’s (IEA’s) ‘World Energy Investment 2019’ report,... 

Global energy investment out of step with security of supply, climate needs
IEA executive director Fatih Birol

Davies approves revised guidelines for aquaculture programme

By: African News Agency      14th May 2019 Trade and Industry Minister Dr Rob Davies has approved the revised guidelines of South Africa's Aquaculture Development and Enhancement Programme (ADEP), with implementation effective from April 1, his department said on Tuesday. Aquaculture is the farming of aquatic organisms including fish,... 

UCT engineers test Africa’s longest suspension bridge

By: Simone Liedtke     14th May 2019 University of Cape Town (UCT) Department of Civil Engineering Emeritus Professor Mark Alexander’s wish to stand on top of a suspension bridge and experience its combined forces of nature and structural engineering was recently fulfilled when he got to inspect Africa’s longest suspension bridge –... 

UCT engineers test Africa’s longest suspension bridge

UCT GSB professor joins prestigious global initiative to end energy poverty

By: Simone Liedtke     13th May 2019 University of Cape Town Graduate School of Business Professor Anton Eberhard has been appointed to the Global Commission to End Energy Poverty – a new initiative which aims to accelerate access to electricity to millions of under-serviced homes and businesses quickly and cost-effectively. The... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique 

By: Terence Creamer     13th May 2019 South Africa is failing to fully grasp the energy and economic significance of the impending development of the enormous gas reserves discovered in northern Mozambique since 2010, Standard Bank oil and gas specialist Paul Eardley-Taylor argues. Between 150- to 200-trillion cubic feet of gas has... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique

Davies approves Bojanala SEZ recommendation

By: Simone Liedtke     13th May 2019 Trade and Industry Minister Dr Rob Davies on Monday notified the public and interested parties of his intention to designate the Bojanala Special Economic Zone. The public and interested parties will have 30 days from the date of the publication of the notice in the Government Gazette to support... 

ANC must use its mandate to transform and grow economy – BBC 

By: Sane Dhlamini     13th May 2019 The Black Business Council has called on the African National Congress to use its mandate to transform and grow the South African economy following the party’s victory in the 2019 election. The ANC received more than ten-million votes in this year's national election. In a statement, BBC... 

ANC must use its mandate to transform and grow economy – BBC

Ramaphosa's hard choice: a Cabinet to lift the South African economy   

By: Bloomberg     13th May 2019 South African President Cyril Ramaphosa’s triumph in guiding his African National Congress to a sixth straight election victory has left him with an even more formidable challenge: to pick a cabinet that can dismantle a shadow state of corruption and revive the flagging economy. His window of... 

Ramaphosa's hard choice: a Cabinet to lift the South African economy
Photo by Creamer Media's Dylan Slater
President Cyril Ramaphosa

Eskom task team mulling new debt-relief options as it comes to terms with depth of crisis  

By: Terence Creamer     10th May 2019 The Eskom Sustainability Task Team – which has already had its proposal for the unbundling of the utility into three separate units accepted by government – is now finalising an updated report for President Cyril Ramaphosa which will include a financial recovery plan for the State-owned entity.... 

Eskom task team mulling new debt-relief options as it comes to terms with depth of crisis

Reigniting South Africa’s growth 

10th May 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the national elections, the key issues and priorities for the new administration and what should be done by the new administration to start reigniting South Africa’s economic growth. 

Reigniting South Africa’s growth
Reigniting South Africa’s growth

Biggest Nampo yet boasts 775 stands

By: Halima Frost     10th May 2019 The southern hemisphere’s largest agriculture expo, the Grain SA Nampo Harvest Day, will feature a record-breaking 775 stands, and organiser Grain SA says that all of the stands have now been sold out. The event caters to the South African and Southern Africa farming community and will be held... 

Biggest Nampo yet boasts 775 stands
HIGH EXPECTATIONS An aerial view of the continent’s largest agriculture show being held in May

Unreliability of coal power stations calls for a nuclear solution

By: Mamaili Mamaila     10th May 2019 With coal power stations starting to reach the end of their lives, owing to insufficient maintenance, the country’s only option going forward will have to be nuclear energy, says University of the Witwatersrand radiation and health physics unit director Professor James Larkin. 

Unreliability of coal power stations calls for a nuclear solution
UPSKILLING It is difficult to create new programmes and qualifications when there is so much resistance towards the industry from government in terms of having nuclear energy play a more important role in the power sector

Necsa releases new OSCAR version

By: Mamaili Mamaila     10th May 2019 State-owned South African Nuclear Energy Corporation’s (Necsa’s) radiation reactor theory department hosted the release of the fifth version of the Overall System for the Calculation of Reactors (OSCAR-5) at the user group workshop last month in Hartbeespoort, in the North West. 

Necsa releases new OSCAR version
NEXT GENERATION The OSCAR-5 system aims to respond to the challenging demands of the modern reactor analysis environment

Transnet procurement process an 'aberration', State capture inquiry hears 

By: News24Wire      9th May 2019 Evidence presented at the State capture inquiry on Thursday shifted to procurement processes at Transnet, which have been identified by the new board as being at the heart of financial flows of the State-run freight rail company. Peter Volmink, Transnet's executive head of governance, told the... 

Transnet procurement process an 'aberration', State capture inquiry hears

FLSmidth boosts local engineering facility 

9th May 2019 Mining and cement equipment multinational FLSmidth has completed a second upgrade of its Delmas facility, which engineers and manufacturers components and equipment for local, regional and export clients. Schalk Burger has the story. 

FLSmidth boosts local engineering facility
FLSmidth boosts local engineering facility

Nersa sets May 24 deadline for comment on overhauled SSEG exemption rules

By: Terence Creamer     9th May 2019 The National Energy Regulator of South Africa has finally released a consultation paper for an updated Licensing Exemption and Registration Notice for certain categories of small-scale embedded generators, which was submitted to the regulator for its concurrency by Energy Minister Jeff Radebe... 

Nersa sets May 24 deadline for comment on overhauled SSEG exemption rules

Tanzania plans cable car for Mount Kilimanjaro

By: Reuters     7th May 2019 Tanzania wants to boost tourist numbers by putting a cable car on Mount Kilimanjaro, Africa’s tallest mountain, and is in talks about the project with a Chinese and a Western company. Around 50 000 tourists climb Kilimanjaro annually. A cable car could increase tourist numbers by 50% by providing... 

Tanzania plans cable car for Mount Kilimanjaro
Photo by Reuters
Mount Kilimanjaro

South Africa’s energy transition won’t be ‘just’ in absence of inclusive social dialogue  

By: Terence Creamer     7th May 2019 South African Federation of Trade Unions general-secretary Zwelinzima Vavi has called for urgent social dialogue on South Africa’s “inevitable” energy transition from coal to renewable energy, warning that the country’s current framework will fail to deliver a just outcome for workers and poor... 

South Africa’s energy transition won’t be ‘just’ in absence of inclusive social dialogue
Photo by Creamer Media
Saftu general-secretary Zwelinzima Vavi

Eberhard calls for renewables to play a far greater role in South Africa 

By: Kim Cloete     7th May 2019 Energy expert Anton Eberhard has called for renewable energy to play a far greater role in South Africa, adding that solar and wind energy had saved the country from what could have been a far darker place during the recent spate of load-shedding. “Independent power producers have mitigated... 

Eberhard calls for renewables to play a far greater role in South Africa
Photo by Creamer Media
Anton Eberhard

BCI rises to 93.7 amid election campaigning

By: Marleny Arnoldi     7th May 2019 The South African Chamber of Commerce and Industry Business Confidence Index improved by 1.9 index points month-on-month to 93.7 in April. The latest figure is 2.3 index points below the 96 points measured in April 2018. Five of the thirteen subindices of the BCI improved on their March readings,... 

BCI rises to 93.7 amid election campaigning

Jeka Energy completes solar PV power plant for Air Products

By: Simone Liedtke     7th May 2019 Jeka Energy has completed the installation of a solar photovoltaic (PV) roof-mounted power plant for Air Products’ Kempton Park facility.   

Famous Brands’ earnings fall on impairments

By: Simone Liedtke     6th May 2019 JSE-listed franchiser Famous Brands on Monday said it was likely to report a basic loss a share of between 432c and 528c for the financial year ended February 28, compared with the earnings per share (EPS) of 22c reported for the prior financial year. This decrease in EPS was attributed to an... 

Late payments the ‘assassin of small businesses’, says SBI’s Swanepoel

By: Simone Liedtke     6th May 2019 Small businesses need predictable cash flow to gain traction, pay employees, market their products and services and invest in and grow their businesses, says Small Business Institute executive director Bernard Swanepoel. He adds that one of the surest ways to disrupt the growth of small... 

IEA says world cannot ‘press pause’ on renewables, as capacity growth stalls  

By: Terence Creamer     6th May 2019 The International Energy Agency has expressed concern over the “unexpected flattening” of renewable-energy capacity additions in 2018, which, at 180 GW, remained in line with additions recorded in 2017. It was the first time since 2001 that year-on-year additions of renewable energy failed to... 

IEA says world cannot ‘press pause’ on renewables, as capacity growth stalls

Busa calls on business community to allow employees to vote on May 8

By: Sane Dhlamini     6th May 2019 Business Unity South Africa on Monday urged all employers, including its members, to encourage workers to exercise their right to vote in the 2019 national election on May 8.  While political parties wrap up their campaign for the hotly contested sixth general elections since the dawn of... 

Busa calls on business community to allow employees to vote on May 8

Massmart’s Hayward to step down as CEO

By: Simone Liedtke     6th May 2019 Massmart CEO Guy Hayward has informed the company of his intention to step down from his position before the end of this year. The timing of his exit is still to be confirmed as he and the board embark on the process of ensuring a seamless transition. 

South African private sector activity grows in April as electricity crunch eases – PMI 

By: Reuters     6th May 2019 Activity in South Africa's private sector grew in April, a survey showed on Monday, with easing electricity blackouts off-setting a slide in businesses selling prices as they continued to struggle with weak demand. IHS Markit's Purchasing Managers' Index jumped to 50.3 in April from 48.8 in... 

South African private sector activity grows in April as electricity crunch eases – PMI

Economy may have shrunk in first quarter – NKC African Economics

By: News24Wire      6th May 2019 South Africa's economy may have contracted in the first quarter of the year, according to a report by NKC African Economics. The economy fell into a technical recession in 2018, before gaining pace in the second half of the year. According to NKC African Economics, a provider of economic... 

Economy may have shrunk in first quarter – NKC African Economics

South African logistics firm recommends review of bulk liquid terminal tender

By: Reuters     3rd May 2019 State-owned Transnet National Ports Authority (TNPA) will recommend to its board that a tender to build and operate a bulk liquid terminal in Durban be reviewed and possibly cancelled, a senior official said. The "Lot 100" tender at South Africa's main petrochemical hub Island View on the east... 

Outa says submits evidence against Transnet to Zondo commission

By: Marleny Arnoldi     3rd May 2019 The Organisation Undoing Tax Abuse (Outa) says it has handed, what it calls a comprehensive submission, to the Zondo Commission of Inquiry into State Capture that allegedly details corruption, money laundering and fraud at State-owned freight utility Transnet. In addition to allegations that... 

Intellidex market research forecasts ANC will win with 57% of votes 

By: Marleny Arnoldi     3rd May 2019 Markets believe there is only a one-third chance of growth-boosting reform after the elections and that there is a 75% probability of President Cyril Ramaphosa remaining in his seat until 2022, at least, according to financial services research house Intellidex. Overall, the market anticipated... 

Intellidex market research forecasts ANC will win with 57% of votes

Eskom’s China loan facility not in jeopardy – Public Enterprises 

By: News24Wire      3rd May 2019 The Department of Public Enterprises says that power utility Eskom’s multi-billion rand loan facility with the China Development Bank is not in jeopardy, despite concerns sparked by a delay in the release of a R7-billion tranche of funds last month. The bank was meant to release the funds - part... 

 Eskom’s China loan facility not in jeopardy – Public Enterprises

Company takes top spot at enterprise and supplier development awards

3rd May 2019 After being named as a finalist in the eighteenth annual Top Empowerment Awards by media company Topco Media and Communications, professional services company Turner & Townsend was honoured with an award in the enterprise and supplier development category at the event last month. The Top... 

Africa gains traction as trade destination

By: Jessica Oosthuizen     3rd May 2019 Africa, as a trade and export destination, is looking increasingly attractive from a South African perspective, and represents an opportunity for growth for many South African companies, says research and consulting specialist Africa House MD Liz Whitehouse. Africa offers South African companies... 

Africa gains traction as trade destination
Photo by Creamer Media
MAKING PROGRESS Several industries and factors are driving growth in sub-Saharan Africa, including agricultural development and power
 

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