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Economy News

SA must seek to extract ‘demographic dividend’ – NDP

By: Sapa     15th August 2012 South Africa's population has hit a "sweet spot", with a highly favourable age distribution profile, according to the revised National Development Plan (NDP) tabled at Parliament on Wednesday. "There is a large youth and working-age population and proportionally fewer very old and very young," it... 

Quality education key to transforming SA economy 

By: Sapa     15th August 2012 Additional resources will not solve key problems such as poor education, Planning Minister Trevor Manuel said on Wednesday. "It's not so much how much money you throw at the problem, it's how you transform the system," Manuel told media after he handed the National Development Plan to President... 

NDP calls for 'insulation' of public servants from political cronyism 

By: Sapa     15th August 2012 The National Planning Commission has strengthened its call for the state to move away from the cadre deployment system, in its revised plan released in Parliament on Wednesday. The plan states: "Build a professional public service that serves government, but is sufficiently autonomous to be... 

Italtile reports strong growth despite muted trading conditions

By: Megan van Wyngaardt     15th August 2012 Ceramic product distributor Italtile grew its revenue 21% to R1.85-billion in the year ended June, despite muted trading conditions, accompanied by limited investment in the sector, the JSE-listed company reported on Wednesday. Basic and headline earnings a share increased by 18% to 41.1c a... 

Enhance corruption fighting agencies' capacity – NDP 

By: Sapa     15th August 2012 The capacity of corruption fighting agencies needs to be enhanced, and these bodies must have political will and support, according to the revised National Development Plan (NDP). The plan, presented to President Jacob Zuma during a joint sitting of Parliament on Wednesday, says political will... 

SA should work on ‘Plan B’ if nuclear build proves too costly 

By: Terence Creamer     15th August 2012 South Africa needed to develop a ‘Plan B’ should an investigation into the economics associated with deploying 9 600 MW of nuclear energy capacity prove too expensive, the newly released ‘National Development Plan 2030’ asserts. The plan, which was handed to President Jacob Zuma on Wednesday,... 

Development plan calls for more gas, warns on coal export restrictions 

By: Terence Creamer     15th August 2012 South Africa’s ‘National Development Plan 2030’ calls for efforts to be made to substitute coal with gas in the country’s energy mix, including developing shale gas resources “provided the overall economic and environmental costs and benefits outweigh those associated with South Africa’s... 

Trade conditions weaken again in July – Sacci

14th August 2012 Trade conditions were characterised by volatility in July ranging from optimism to negativity as data reflected an uncertain economic environment – notably with sales and new orders, the South African Chamber of Commerce and Industry (Sacci) said on Tuesday. The chamber said that tighter trade... 

Executives earn too much – business survey  

By: Creamer Media Reporter      13th August 2012 South African business owners believe that executives at large public companies were paid too much, a survey by Grant Thornton showed on Monday. The International Business Report survey, which reviewed 2 800 public and private businesses in 40 countries in May and June, stated that 68% of South... 

DCD opens R4m skills training facility in Cape Town

By: Jean McKenzie     10th August 2012 Heavy engineering group DCD has opened a new skills training facility in Cape Town, in conjunction with MCD Training Centre and Khula Nathi Empowerment (KNE). The R4-million facility, based in the harbour precinct, would be used for training of artisans, learnerships and short skills courses.... 

Workplace experience seen as key to accelerating artisan development

By: Schalk Burger     10th August 2012 Temporary placement of apprentices and technical students in workplaces to prepare them more adequately for employment has received broad support from business, industry, government departments, training bodies and training authorities. However, there are some fears that employers may resist... 

Zambian court ruling generates questions around trademark protection

10th August 2012 A Zambian Supreme Court ruling in April, which does away with trademark protection that companies operating in Zambia have relied on, could have a ripple effect in other African jurisdictions. 

Chemicals Seta to host artisan skills competition

10th August 2012 The Chemical Industries Education and Training Authority (CHIETA) will host a artisan related National Skills Competition to showcase the competency of South African skills in the apprenticeship, learnership and vocational skills programmes. 

Workplace experience seen as key to accelerating artisan development

By: Schalk Burger     10th August 2012 Temporary placement of apprentices and technical students in workplaces to prepare them more adequately for employment has received broad support from business, industry, government departments, training bodies and training authorities.  

Bank embraces technology to test pulse of young Africans

10th August 2012 The African Development Bank (AfDB) announced a partnership with Mobile Accord to process mobile-based surveys in Africa, said its chief economist Mthuli Ncube at its annual meeting. 

Labour Dept reports less strike action in 2011

By: SANews, SA government news service     8th August 2012 South Africa experienced less strikes last year compared to 2010, says the Department of Labour. Last year, the department recorded a total of 67 work stoppages. This shows a slight decrease compared with 74 incidences in 2010.

 

Gauteng to focus on automotive partnerships to create jobs – MEC  

By: Megan van Wyngaardt     7th August 2012 The Gauteng Economic Development Department would continue to strengthen its partnerships in the automotive sector, as part of its focus on the creating jobs, while building a growing inclusive economy, member of the executive council (MEC)) Nkosiphendule Kolisile said on Tuesday. As part of its... 

NRCS finds no evidence of substandard cement imports

By: Natasha Odendaal     7th August 2012 The National Regulator for Compulsory Standards (NRCS) has found no evidence of substandard cement imported into the South African market, said acting CEO and GM Thomas Madzivhe on Tuesday. Speaking at a media briefing in Pretoria, he stated that, despite complaints by a local cement producer... 

US seeks to add value – Hillary Clinton

By: Sapa     7th August 2012 The United States is seeking to give rather than take in its relationship with Sub-Saharan Africa, visiting Secretary of State Hillary Clinton said on Tuesday. "In our strategy towards Sub-Saharan Africa, [we are] working to build a partnership that adds value rather than extract it," she told... 

Business confidence hits 12-year low

By: Megan van Wyngaardt     7th August 2012 Business confidence plunged to a 12-year low in July, the South African Chamber of Commerce and Industry (Sacci) reported on Tuesday, as it expressed concern over the global economic slowdown and the widespread downwards revision of South Africa’s growth outlook. The Sacci Business Confidence... 

Zuma builds SA relations with Jamaica

By: Sapa     7th August 2012 South Africa would like to see increased volumes of trade and investment with Jamaica, President Jacob Zuma said on an official visit to the county. "We are committed to encourage and facilitate South African companies doing business in Jamaica, resulting in the steady growth in trade and... 

SA’s Brics status not a ‘stigma’, US says as it weighs Agoa’s future

By: Terence Creamer     6th August 2012 South Africa’s membership of the Brics bloc of Brazil, Russia, India and China should not prejudice its future inclusion as a beneficiary of the market-access benefits that would flow from any extension of the Africa Growth and Opportunity Act (Agoa) beyond September 30, 2015, a senior US... 

Doubt about job seekers' grant 

By: Sapa     6th August 2012 The ANC's proposed job seekers' grant has been met with far less enthusiasm than the abandoned youth employment subsidy. "The job seekers' grant will have nowhere near the impact the youth wage subsidy would have had," said Adcorp labour market analyst Loane Sharp. 

SA gears up for Agoa-extension charm offensive

By: Terence Creamer     3rd August 2012 South Africa has been warned to avoid “complacency” ahead of deliberations by US lawmakers on whether or not to extend the Africa Growth and Opportunity Act (Agoa) beyond September 30, 2015 – the Act offers highly favourable, unilateral trade terms for African products entering the world's... 

Inside efforts to turn the tide on SA’s poor maths and science performance  

By: Nomvelo Buthelezi     3rd August 2012 It has become blindingly obvious to all South Africans that the prevailing deficiencies in basic maths and science education have become a major, if not the major, constraint in ensuring that the country’s human capital is fully aligned to the country’s economic growth and development goals,... 

Industry body urges members to be unquestionably ethical

By: Yolandi Booyens     3rd August 2012 South Africa needs to improve its business integrity to eliminate corrupt practices, Consulting Engineers South Africa (Cesa) president Naren Bhojaram said in June in his speech in Johannesburg during a Cesa Gauteng presidential visit. 

Consulting engineering has become unattractive – industry body

By: Yolandi Booyens     3rd August 2012 A survey of recruitment problems in the consulting engineering sector has revealed low numbers of black professionals in the engineering, technician and technologist professions, Consulting Engineers South Africa (Cesa) president Naren Bhojaram highlighted. 

Consulting engineering sector to commit to attracting, retaining women

By: Yolandi Booyens     3rd August 2012 There is a global link between economic development and women participation, and this is evident in South Africa where a big gap exists between participation of male and female engineers, says consulting engineering firm Malani Padayachee & Associates (MPA) CEO Malani Padayachee. Consulting... 

E-learning to benefit engineering sector

By: Yolandi Booyens     3rd August 2012 The large student-to-teacher ratio in university classrooms results in students receiving little individual attention from lecturers. They also risk falling behind in their coursework, which is a contributing factor to the skills gap in South Africa’s engineering industry, says online training... 

Construction group creates platform for black firms to showcase prowess

By: Natalie Greve     3rd August 2012 The Aveng group, currently the largest JSE-listed construction company by market capitalisation, recently provided a platform to enable its stable of black-owned emerging suppliers to showcase their capabilities and business offerings to key industry stakeholders. 

Inside efforts to turn the tide on South Africa’s poor maths and science performance

By: Nomvelo Buthelezi     3rd August 2012 It has become blindingly obvious to all South Africans that the prevailing deficiencies in basic maths and science education have become a major, if not the major, constraint in ensuring that the country’s human capital is fully aligned to the country’s economic growth and development goals,... 

R2.5bn boost for FET colleges

By: Megan van Wyngaardt     1st August 2012 South Africa’s 50 Further Education and Training (FET) colleges on Tuesday received their share of the R2.5-billion earmarked for the expansion of the FET sector to support skills development in key growth sectors of the economy. The investment, which was provided by the National Skills Fund,... 

Europe a key risk to Africa’s 2012 growth outlook – AfDB economist 

By: Terence Creamer     31st July 2012 Africa’s 2012 economic growth outlook is facing headwinds from a range of sources, not least the current crisis in Europe, African Development Bank (AfDB) chief economist Professor Mthuli Ncube has warned. The bank currently expects continent-wide growth of 4.5% in 2012, underpinned by a... 

Clinton to be joined by business delegation for SA visit

By: Terence Creamer     31st July 2012 US Secretary of State Hillary Rodham Clinton will visit South Africa in early August to participate in the ‘US-South Africa Strategic Dialogue’. She will be also accompanied by a US business delegation. 

Property loan stock body welcomes proposed real-estate tax framework

27th July 2012 The South African National Treasury has tabled a unified approach to property investment schemes to bring the country in line with international publicly-traded real-estate investments and create greater investor certainty. 

SA welding skills stagnant 

By: Sashnee Moodley     27th July 2012 South African industry is constrained by the increasing gap between the number of available skilled welders and the demand for skilled welders, asserts Free State-based specialist welder training organisation SIH Training Expertise training manager Styles Hood. 

Manufacturer improves staff literacy, numeracy

By: Sashnee Moodley     27th July 2012 South African alkaline battery manufacturer Eveready has implemented an extensive adult basic education and training (Abet) programme at its premises, in Port Elizabeth, to mitigate staff illiteracy and innumeracy. 

 

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