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Economy News

Cabinet Ministers meet to discuss economic recovery 

By: Bloomberg     14th September 2021 South Africa’s government met Tuesday to discuss how to accelerate the country’s economic recovery and consider the most feasible way to provide further welfare grants. The ruling African National Congress (ANC) has agreed in principle on the need for a basic income grant and the government is... 

Eastern Cape govt embarks on tourism economic recovery activities

By: Yvonne Silaule     14th September 2021 The six-day hiking trail from Coffee Bay to Port St Johns, in the Eastern Cape, that is under construction forms part of the economic recovery efforts of the province’s tourism sector. MEC of Finance, Economic Development, Environmental Affairs and Tourism Mlungisi Mvoko made the announcement... 

Eskom evacuates staff who hid in locked Ga-Rankuwa offices to escape angry residents

By: News24Wire      14th September 2021 Power utility Eskom safely evacuated its employees that it claimed were being held against their will by angry residents of Morula View in Mabopane, north of Pretoria, over the lack of power supply in the area. According to Eskom, the hostage situation followed the community's demand for the... 

Govt launches portal for businesses affected by unrest

By: Tasneem Bulbulia     14th September 2021 The South African government has launched an online Business Loss Portal for the registration of businesses that were affected by the unrest which took place during July 9 to 19 in KwaZulu-Natal, Gauteng and other affected areas in the country. As part of the relief package announced by President... 

South Africa’s green energy push hinges on R402bn debt fix

By: Bloomberg     14th September 2021 The head of South Africa’s State power utility needs to substantially reduce its R402-billion of debt to realise his vision of transforming the coal-addicted behemoth into a leading green-energy producer and create as many as 300 000 jobs in the process. Eskom Holdings supplies more than 90% of... 

BMW, JPMorgan urge UK to ease Covid limits on Southern Africa

By: Bloomberg     13th September 2021 Dozens of companies appealed to UK Prime Minister Boris Johnson to ease restrictions on travel from southern Africa that are hampering trade. The limits on movement are jeopardising the competitive advantage the UK has, which stem from its historical, cultural and economic links with Africa, the... 

Africa set to become global climate migration ‘hotspot’ 

By: Terence Creamer     13th September 2021 A new World Bank report warns that sub-Saharan African could make up 86-million of the world’s 216-million climate migrants by 2050, while North Africa could have the largest share of internal climate migrants relative to total population. Titled ‘Groundswell’, the report updates and expands on... 

Photo of dry earth

ICA urges Sasria to start paying out partial claims to assist riot-affected businesses

By: Simone Liedtke     13th September 2021 Public loss adjuster Insurance Claims Africa (ICA) is urging the South African Special Risk Insurance Association (Sasria) to urgently pay riot-related claimants 30% of their insured sum upfront, in order to assist cash-strapped businesses get back on their feet as quickly as possible and prevent... 

Time to rebuild, reinvest in South Africa – BLSA CEO

By: Simone Liedtke     13th September 2021 Business Leadership South Africa (BLSA) CEO Busi Mavuso has commended President Cyril Ramaphosa’s decision to move South Africa back to adjusted lockdown Level 2, which she says is “ultimately the route back to a fully functioning economy and freedom to get back to a normal life”. While the move... 

Move to Level 2 lockdown bodes well for economy – Parsons

By: Tasneem Bulbulia     13th September 2021 The announcement by President Cyril Ramaphosa that the country moves to an adjusted Level 2 lockdown is positive news for the economy, North-West University Business School economist Professor Raymond Parsons says. He says that, although the recent better-than expected second-quarter gross... 

Bids sought for socioeconomic study into Eskom’s coal repowering and repurposing plan 

By: Terence Creamer     13th September 2021 A global coalition set up to support countries in implementing the carbon-reduction pledges contained in their Nationally Determined Contributions (NDCs) has announced that it will fund a study to assess the socioeconomic impacts of the shutdown, repowering and repurposing of seven Eskom... 

Photo of a road to an Eskom power station
Photo by Creamer Media
Eskom to shut 11 000 MW of coal capacity by 2030

Satsa advocates for UK to move South Africa to its ‘amber’ list

By: Marleny Arnoldi     13th September 2021 The Southern Africa Tourism Services Association (Satsa) has called on the UK government to move South Africa to its amber list in the next traffic light review, which is likely to take place later this week. The UK imposed a traffic light system to determine the correct Covid-19 precautions... 

Satsa CEO David Frost
Satsa CEO David Frost

President loosens Covid-19 curbs, shortens curfew

By: Reuters     12th September 2021 South Africa will ease Covid-19 restrictions, including by shortening a nationwide curfew and extending the hours of alcohol sales, President Cyril Ramaphosa said in a televised address on Sunday. Ramaphosa announced the country would move down one level in a five-tier system of restrictions,... 

A photo of President Cyril Ramaphosa
President Cyril Ramaphosa

Competition Commission advances efforts to mitigate price gouging during pandemic  

By: Tasneem Bulbulia     10th September 2021 The Covid-19 pandemic has led to a spike in price gouging and complaints from customers, and the Competition Commission of South Africa had to, and continues to, focus efforts on mitigating this situation, and has learnt several lessons from this. This was indicated during the a webinar hosted by... 

An image of Competition Commission Litigation manager
Competition Commission Litigation manager Candice Slump outlines the CC‘s legal and practical approach to price gouging during the pandemic.

Asata welcomes digital Covid-19 vaccination certificate initiative

By: Marleny Arnoldi     10th September 2021 The Association Of Southern African Travel Agents (Asata) is optimistic about the announcement by Health Minister Dr Joe Phaahla that South Africa will roll out digital vaccine certificates for vaccinated South Africans. The Minister announced that vaccinated South Africans will be able to... 

Public invited to participate in pre-budget consultations

By: Simone Liedtke     10th September 2021 The National Treasury is inviting members of the public to participate in pre-budget consultations in an effort to return public finances to a sustainable position through ongoing restraint in expenditure growth and implementation of structural reforms to support economic growth. This forms part... 

Municipalities improve on underspending in 2020/21

By: Marleny Arnoldi     10th September 2021 The National Treasury has noted, in a preliminary quarterly report, that municipalities spent 91.9% of the total adjusted expenditure budget that was afforded to local government in the 2020/21 financial year. Municipalities spent R446-billion of the allocated R485-billion for the financial... 

Govt to launch digital vaccination certificate – Joe Phaahla 

By: Thabi Madiba     10th September 2021 The Department of Health has announced the development of a digital vaccination certificate, which will show proof of vaccination. Health Minister Dr Joe Phaahla said this initiative is in line with the World Health Organisation-initiated vaccination certificate, which the WHO is using in an... 

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

Sinovac in talks about setting up South Africa vaccine production, partner says

By: Reuters     10th September 2021 China's Sinovac Biotech is in talks about setting up a vaccine production facility in South Africa with its local partner, the chief executive of Numolux said on Friday. Hilton Klein made the comments at the launch of the South African leg of a global Phase III trial of Sinovac's Covid-19 vaccine... 

Paradigm shift can address unemployment

By: Anna Moross     10th September 2021 Increasing awareness of the skills required to advance civil engineering education in South Africa is integral to unlocking employment opportunities, specifically within the country’s municipal sector, advocates South Africa Institution of Civil Engineering (SAICE) CEO Vishaal Lutchman.  

An image of Vishaal Lutchman, the CEO of SAICE
VISHAAL LUTCHMAN The country needs to find a balanced approach to promote both artisanal trade qualifications and qualifications received from universities

Municipality’s infrastructure services fulfil obligations

10th September 2021 Despite facing constant challenges, Knysna municipality’s infrastructure services directorate continues to fulfil its obligation of maintaining the municipal area’s integral infrastructure and its systems. 

Initiative helps companies diversify, mitigate supply shortages

By: Cameron Mackay     10th September 2021 The Covid-19 pandemic has resulted in shortages of chips and electronic components in the local aerospace industry, which has also impacted on production and projects locally. Aerospace Industry Support Initiative (AISI) technical lead Livison Mashoko states that AISI is working closely with... 

Image of a Jonker sailplane
INDUSTRY IMPACT Several AISI projects as well as AISI beneficiaries have experienced disruption in the last 18 months owing to Covid-19 interruptions to their supply chains

Changes required to deal with municipal issues

By: Anna Moross     10th September 2021 The dismal performance of municipalities in infrastructure and service delivery in South Africa can be attributed to the lack of technical capacity and competency within municipalities, says association Consulting Engineers South Africa CEO Chris Campbell.  

An image of Chris Campbell, the CEO of CESA
CHRIS CAMPBELL While municipalities are facing many challenges, there is great opportunity to create change now.

Municipality in support of niche and light industry

10th September 2021 According to Knysna Planning and Development MMC Mncedisi Skosana, the local leadership has been investigating ways of diversifying the area’s economic drivers and contributors. 

AfCFTA support vital for growth

By: Cameron Mackay     10th September 2021 The African Continental Free Trade Area (AfCFTA), implemented at the beginning of this year, can potentially boost African aerospace manufacturing by improving export sophistication across Africa, states Commercial Aerospace Manufacturing Association of South Africa chairperson Themba September.... 

Image of CAMASA chairman Themba September
THEMBA SEPTEMBER For aerospace manufacturing, the prospect of improvements in export sophistication across Africa can lead to an enhanced prominence of aerospace manufactured products

Freight, logistics integration key to successful intracontinental trade

By: Theresa Bhowan-Rajah     10th September 2021 Although the African Continental Free Trade Area (AfCFTA) agreement aims to achieve an economically integrated continent, with successful trading among African countries, the Trade Research Advisory tells Engineering News that this will prove challenging in the short to medium term. “Government... 

Blue truck driving on an open road.
EASY TRADE Africa does not have the required and efficient physical infrastructure to move goods cost-effective and efficiently

Company involvement in municipal project well under way

By: Anna Moross     10th September 2021 Engineering consultant Zutari has completed several aspects of Phase 1 and Phase 1A of the Tshwane Automotive Special Economic Zone (TASEZ), for which it provided civil and structural engineering services associated with bulk and internal infrastructure. 

An image of the construction site  of the TASEZ project
ZUTARI TASEZ DEVELOPMENT The TASEZ is a key driver for economic growth in the City of Tshwane and in Gauteng

Infrastructure upgrades for eThekwini municipality

10th September 2021 Consulting engineers Bosch Projects and financial institution Bosch Capital – members of the Bosch Holdings group of companies – work closely with municipalities nationally to assist with upgrading infrastructure. 

Tech key to transform water systems

By: Anna Moross     10th September 2021 The global water and wastewater treatment market is driven by rapid population growth and urbanisation and it is, therefore, critical for water boards and municipalities to break down the ‘silo mentality’ for better management of resources, says information technology company Rockwell Automation... 

An image of Sagren Govender the sales manager and Europe, Middle East and Africa water industry coordinator for Rockwell Automation
SAGREN GOVENDER Using technology in the development of water plants allows for intellectual knowledge to be shared between water boards and municipalities

A&D sectors decline needs to be halted

By: Cameron Mackay     10th September 2021 The decline of industrial sectors, such as aerospace and defence (A&D), needs to be addressed urgently, states Commercial Aerospace Manufacturing Association of South Africa (Camasa) chairperson Themba September. “The A&D sectors’ technology development benefits the manufacturing sector through... 

Image of a welder working in an aerospace manufacturing facility
COMPETING IN GLOBAL MARKETS Camasa is actively pursuing the effective integration of local major manufacturers into global supply chains, particularly in niche areas

July manufacturing output decreases 4.1% y/y, 8% m/m

By: Simone Liedtke     9th September 2021 Data released by Statistics South Africa (Stats SA) shows that South Africa’s manufacturing production decreased by 4.1% year-on-year and by 8% month-on-month in July. This, the Steel and Engineering Federation of Southern Africa (Seifsa) says, largely reflects the negative impact of civil unrest... 

Quality of life in Gauteng declines amid pandemic, survey finds   

By: Tasneem Bulbulia     9th September 2021 Research institute the Gauteng City-Region Observatory’s (GCRO’s) Quality of Life (QoL) Survey for 2020/21 finds that the quality of life in the province decreased considerably since the previous study; however, this must be understood in the context of the pandemic. The GCRO is a partnership... 

An image showing a slide from a webinar unpacking the Gauteng City-Region Observatory’s Quality of Life Survey for 2020/21
Gauteng City-Region Observatory Research Strategy director Graeme Götz outlines findings regarding the decrease of overall quality of life in the GCRO’s 2020/21 survey

South Africa’s record current-account surplus misses estimates

By: Bloomberg     9th September 2021 South Africa’s current-account surplus for the second quarter missed estimates even as it widened to a record amid improving economic activity and growing exports following the easing of restrictions to curb the spread of Covid-19. The balance on the current account, the broadest measure of trade... 

South Africa set to ease virus curbs as new infections slow

By: Bloomberg     9th September 2021 South Africa’s government is preparing to ease restrictions that were imposed to curb the spread of the coronavirus after a sustained slowdown in new infections. Larger public gatherings are likely to be permitted, making it easier for political parties to campaign for upcoming municipal... 

Eskom unbundling fails to cut solvency risk, Futuregrowth says

By: Bloomberg     9th September 2021 Futuregrowth Asset Management said that despite efforts to make South Africa’s Eskom Holdings profitable, including a process of unbundling its divisions into separate entities, “the core problem of debt” has yet to be addressed. The utility that reported a fourth straight full-year loss on Aug.... 

TNPA supports CDC to deliver key liquid bulk infrastructure for Nelson Mandela Bay

By: Simone Liedtke     9th September 2021 The Transnet National Ports Authority (TNPA) is encouraging Port Elizabeth Liquid Bulk Tankfarm tenants, as well as any other parties interested in securing liquid bulk storage capacity, to contact the Coega Development Corporation (CDC). This is premised on TNPA’s confirmation of its support and... 

Four-day liquor retail rule doing more harm than good, study finds

By: Marleny Arnoldi     9th September 2021 A study by the Consumer Goods Council of South Africa (CGCSA) and the Liquor Traders Association of South Africa (LTASA) has found that the ongoing trade restrictions on retail liquor stores in South Africa are unjustifiable, discriminatory and uncompetitive. The restrictions, which mean retail... 

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