R/€ = 17.13 Change: 0.01
R/$ = 15.10 Change: 0.01
Au 1834.70 $/oz Change: 3.68
Pt 1034.00 $/oz Change: -2.00

Economy News

SA economy to grow 3,4% this year

By: Reuters     23rd February 2011 South Africa's economy is likely to grow 3,4% this year, a shade slower than the 3,5% forecast last October, Finance Minister Pravin Gordhan said on Wednesday. In his 2011/12 budget speech, Gordhan maintained his 2012 and 2013 GDP growth forecasts at 4,1% and 4,4% respectively. 

IDC unveils details of R10bn jobs scheme  

By: Loni Prinsloo     22nd February 2011 South Africa’s Industrial Development Corporation (IDC) on Tuesday launched a R10-billion scheme to tackle the country’s chronic unemployment problem. CEO Geoffrey Qhena said at a media briefing that the scheme was aligned with the government’s New Growth Path and its latest Industrial Policy... 

Public Works wants retired engineers to help with training 

By: Petronel Smit     22nd February 2011 Public Works Minister Gwen Mahlangu-Nkabinde on Tuesday launched a campaign recalling retired built environment engineers and artisans to provide practical skills and training to a growing number of trained, but unqualified, engineers and artisans. Mahlangu-Nkabinde said that the Department of... 

SA economy expands 4,4% in Q4 on mining and agriculture growth

By: Petronel Smit     22nd February 2011 South Africa’s economy grew by 4,4% in the final quarter of 2010, while growth for the year came in at 2,8%, Statistics South Africa (Stats SA) reported on Tuesday. This compares with the upwardly revised 2,7 % annualised growth posted in the third quarter and above fourth-quarter market... 

Big business ready to name, shame, expel ‘good corporate citizen’ transgressors

By: Terence Creamer     22nd February 2011 Business Leadership South Africa (BLSA), which represents the largest 84 domestic and foreign companies operating in the country, has released a ‘code of good corporate citizenship’, which, if breached by a member, could lead to expulsion, or a public reprimand. Chairperson Bobby Godsell said... 

Setiloane to replace Spicer as head of big business body

By: Terence Creamer     22nd February 2011 AngloGold Ashanti executive vice-president for business sustainability Thero Setiloane will, from September 1, take over from Michael Spicer as the CEO of Business Leadership South Africa (BLSA), which comprises 84 of the largest businesses operating in South Africa, including public companies,... 

Energy-intensive firms team up to make carbon tax input 

By: Terence Creamer     18th February 2011 Energy-intensive companies operating in South Africa have established an ‘Industry Task Team on Climate Change’, or ITTCC, to prepare a formal response to the National Treasury’s ‘Carbon Tax Discussion Paper’, which was released for public comment on December 13, 2010 – interested parties have... 

R450m revamped Soweto campus to ‘inspire learners’

By: Mary-Anne O’Donnell     18th February 2011 The University of Johannesburg (UJ) has officially opened its 2011 academic year with the rededication and opening of the R450-million Soweto Campus, in Johannesburg. 

Pelindaba visitor centre set up in bid to ‘demystify’ nuclear energy

By: Eleanor Seggie     18th February 2011 The South African Nuclear Energy Corporation (Necsa) visitors centre will serve to ‘demystify’ nuclear energy and to bring the general public closer to Necsa’s role and activities, said Necsa CEO Rob Adam. 

SA's economic growth nears 4%, BER raises 2011 forecast

By: Petronel Smit     17th February 2011 South Africa’s gross domestic product (GDP) growth accelerated towards 4% quarter-on-quarter in the final three months of 2010, after the economy expanded by 2,6% in the third quarter, the Bureau for Economic Research (BER) said on Thursday. The fourth quarter growth would result in the economy... 

IFC finalising new sustainability framework as it moves to upscale African activities

By: Terence Creamer     17th February 2011 The International Finance Corporation (IFC), which is a leading private-sector development finance partner in Africa, will include new guidelines on climate change, human rights and supply-chain risks in an updated environmental and social policy framework, which should be finalised by midyear. 

South-South trade booming despite high trade barriers 

By: Loni Prinsloo     16th February 2011 South-South trade is growing fast, but barriers among developing countries are still up to seven times higher than those imposed by the developed world, a representative from the Organisation for Economic Cooperation and Development (OECD) said on Wednesday. Speaking at a Frontier Advisory... 

January CPI quickens, rates could rise

By: Reuters     16th February 2011 South African consumer inflation accelerated in January, in line with consensus, official data showed on Wednesday, pushed up mainly by higher food and fuel costs. A sustained upward trend in the data in the next few months could increase chances of interest rates rising before the end of the... 

IDC allocates R25bn for green economy investments 

By: Petronel Smit     16th February 2011 State-owned development finance institution the Industrial Development Corporation (IDC) would allocate R25-billion to investments in the ‘green’ economy over the next five years, Economic Development Minister Ebrahim Patel said on Tuesday. Finance Minister Pravin Gordhan is expected to announce... 

Jobs before decent work – Mantashe

By: Sapa     16th February 2011 African National Congress (ANC) secretary general Gwede Mantashe reiterated on Tuesday that job creation should be the government's main aim while letting the quest for decent work conditions continue alongside. "We must put the focus on what the actual challenge of society is – more work," he... 

‘Jasmine’ uprisings unlikely to spread south in 2011 – Control Risks

By: Terence Creamer     14th February 2011 Social and economic conditions in many Southern African countries resemble those prevailing in countries such as Egypt and Tunisia. But broad-based uprisings akin to those initiated in North Africa and the Middle East since the ‘Jasmine Revolution’, which unfolded in Tunisia during December and... 

Propose labour law changes could spur job losses, lawyers warn

By: Loni Prinsloo     11th February 2011 South Africa’s proposed amendments to its labour laws lacked clarity and definition and were likely to attract material criticism from both business and trade unions at public hearings next week, a commercial and labour law experts said on Friday. The amendments, as was proposed by the Minister... 

Seven projects worth R7bn have applied for SA’s manufacturing tax incentive

By: Terence Creamer     11th February 2011 The South African government has to date received seven applications for manufacturing projects seeking to tap a R20-billion tax incentive, formally launched late last year, and which was given prominence in President Jacob Zuma’s February 10 State of the Nation address. Although Zuma presented... 

Sacci calls for details on govt plans to work with business

By: Sapa     11th February 2011 The South African Chamber of Commerce and Industry said on Friday it would have liked President Jacob Zuma to give greater detail on how the state hopes to nurture an environment in which the private centre can unlock job creation potential. "We would like to have seen greater focus ... on what... 

Trust launched to help previously disadvantaged students  

By: Mary-Anne O’Donnell     11th February 2011 The Arup Education Trust (AET), which owns 30% of consulting engineering firm Arup, was officially launched on January 28, 2011, at its head office in Johannesburg, with the aim of uplifting previously disadvantaged individuals through education. 

Survey shows that salary alone is not enough to retain an engineer

By: Eleanor Seggie     11th February 2011 Salary is the biggest pull factor for engineering recruitment and career growth, and the biggest push factor in retention.  

Gigaba outlines his ‘robust leadership’ vision for State enterprises 

By: Terence Creamer     11th February 2011 South Africa’s youthful Public Enterprises Minister Malusi Gigaba, who will turn 40 only on August 30 this year, shows few signs of wanting to imitate the low-key, albeit influential, style of his predecessor, Barbara Hogan. 

Zuma announces R20bn tax breaks for manufacturing, R9bn jobs fund 

By: Mariaan Webb     10th February 2011 South Africa will introduce tax breaks to promote investment and expansion in manufacturing, and will set up a jobs fund to finance new employment-creation initiatives, President Jacob Zuma announced on Thursday evening. In his third State of the Nation address to Parliament, Zuma announced... 

Adcorp employment index up, labour law changes could cost jobs

By: Loni Prinsloo     10th February 2011 JSE-listed Adcorp’s latest employment index released on Thursday showed that employment rose slightly by 0,9% in January, compared to the previous month. However, all sectors of the South African economy showed a decline in employment for the month, except for an 8,8% rise in community and... 

Glaring misalignment between SA’s power plan and jobs ambitions – analyst 

By: Terence Creamer     9th February 2011 There is a glaring lack of alignment between South Africa’s power road map and the country’s jobs, industrial development and growth ambitions as outlined in the New Growth Path (NGP), a power sector analyst has warned. Speaking during a Web presentation on South Africa’s integrated resource... 

China raises rates to battle stubbornly high inflation

By: Reuters     8th February 2011 China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets. The timing was a surprise, coming on the final day of China's Lunar New Year... 

SA’s Competition Commission receives international accolades

By: Christy van der Merwe     8th February 2011 South Africa’s Competition Commission recently scooped the accolade of ‘Agency of the Year in Asia-Pacific, Middle East & Africa’ in the Global Competition Review (GCR) 2011 awards held in the US. “We feel honoured at this recognition by our peers. The commission has matured into an effective... 

Safcec urges members to cooperate with competition probe

By: Petronel Smit     8th February 2011 The South African Federation of Civil Engineering Contractors (Safcec) on Tuesday welcomed the Competition Commission investigations into anticompetitive practices in the construction industry and encouraged its affected members to cooperate fully. This comes after the commission offered a... 

SA reports modest Q4 jobs growth

By: Loni Prinsloo     8th February 2011 South Africa’s unemployment rate fell slightly to 24% of its labour force in the fourth quarter of 2010, from 25,3% in the third quarter, with the number of unemployed people decreasing by 259 000 people, a report released on Tuesday showed. The Statistics South Africa (Stats SA) survey also... 

SA moves to develop new cadre of ‘real’ economists  

By: Petronel Smit     7th February 2011 Collaboration between the Department of Trade and Industry (DTI) and the University of the Witwatersrand (Wits) has led to the introduction of a new capacity building programme to tackle the skills shortage in the field of development economics and industrial policy. The DTI on Monday announced... 

Intensive pumps training course offers students comprehensive industry overview

By: Eleanor Seggie     4th February 2011 Eleven students are undergoing training in this year’s 23-week-long Professional Pump Sales & Technology programme at the Grundfos Training Academy.  

Sustainability and collaboration emerge as key African themes for International Year of Chemistry

By: Eleanor Seggie     4th February 2011 The role of chemistry in Africa’s future development was the theme of the fortieth South African Chemical Institute (SACI) convention, held recently at the University of the Witwatersrand, in Johannesburg. The convention was the first in a series of events planned by the International Union of... 

Business analytics software firm tops list for workplace culture

4th February 2011 Business analytics software provider SAS is again No 1 on Fortune magazine's yearly 100 Best Companies to Work For list.  

Aveng claims ‘ongoing cooperation’ with competition body

By: Terence Creamer     3rd February 2011 Engineering and construction group Aveng, whose subsidiaries were named by the Competition Commission this week as being among several construction companies to have participated in bid rigging and collusion, said on Thursday that it was in “ongoing cooperation” with the authorities to root out... 

January confidence dips from prior month, but higher than 2010

By: Petronel Smit     3rd February 2011 The South African Chamber of Commerce and Industry (Sacci) Business Confidence Index (BCI) was 6,2 index points higher in January, than in the corresponding month of 2010, representing the largest year-on-year difference since March 2010. Nine of the subindices gathered positive momentum when... 

Weak public sector capex planning at the heart of SA’s service delivery dilemma 

By: Terence Creamer     2nd February 2011 South African consulting engineers have expressed deep concern with the quality of capital-project planning within the public sector and have warned that the problem of budget overruns and poor service delivery could grow unless departments take active steps to recruit and retain a better cadre... 

Construction bid rigging probed, firms asked to come clean 

By: Christy van der Merwe     1st February 2011 The Competition Commission on Tuesday invited construction companies to engage in a “fast track settlement” of Competition Act contraventions relating to bid-rigging for projects in the public and private sectors. The Commission is already investigating 65 bid-rigging cases in the construction... 


Latest News


Latest Videos




RSS Feed


Engineering News is a product of Creamer Media.

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Subscribe Now for $119
Free daily email newsletter Register Now