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Economy News

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... 

South Africa’s green hydrogen ‘first mover’ opportunity based on three structural advantages  

By: Terence Creamer     8th September 2021 South Africa has three favourable structural characteristics that potentially give it a “first mover advantage” to become a global green-hydrogen leader, Sasol CEO Fleetwood Grobler argued in his address during a ‘Hydrogen Economy Discussion’ facilitated by well-known mining personality Bernard... 

Sasol CEO Fleetwood Grobler
Sasol CEO Fleetwood Grobler

Tribunal finds Coca-Cola Beverages Africa ‘did not breach’ merger conditions

By: Simone Liedtke     8th September 2021 The Competition Tribunal has set aside a finding by the Competition Commission in October 2019 against Coca-Cola Beverages Africa (CCBA), effectively clearing the company of claims that it had breached merger conditions relating to retrenchments. The matter relates to two mergers involving CCBA... 

Pic/Image of Coca-Cola Buddy Bottle

Kganyago makes case for inflation 'point target'

By: Reuters     8th September 2021 South Africa's central bank governor, Lesetja Kganyago, made the case on Wednesday for adopting an inflation "point target" of around 3% or 4% with a margin of error either side, as opposed to a 3% to 6% target range used currently. "A more appropriate target would be a point target of around 3%... 

A photo of Reserve Bank governor Lesetja Kganyago
Reserve Bank governor Lesetja Kganyago

Telkom calls for 'fair and transparent' new spectrum auction rules

By: Reuters     8th September 2021 Telkom on Wednesday called on regulator Icasa to create new spectrum licensing auction rules that were "fair and transparent", after the watchdog consented to a court order declaring the previous process flawed. The country's third biggest telecom company had asked a court to prevent the... 

Afrimat Construction Index sees 55% y/y rebound in the second quarter

By: Simone Liedtke     8th September 2021 Following a “predictable sharp decline” during the second quarter of 2020, JSE-listed Afrimat’s Construction Index (ACI) has emulated the trend of several key sectors of the economy by staging a swift and pronounced recovery from the worst of the Covid-19 lockdown regulations. 

Afrimat Construction Index sees 55% y/y rebound in the second quarter

Business confidence down, but not out, RMB/BER index shows

By: Simone Liedtke     8th September 2021 After surging by 15 points to 50 in the second quarter, the RMB/BER Business Confidence index (BCI) retreated to 43 in the third quarter, taking it back into net negative terrain, where the number of respondents unsatisfied with prevailing business conditions outnumber those that are satisfied.... 

J&J may follow ImmunityBio’s South African Covid booster shot trial

By: Bloomberg     8th September 2021 Talks are underway with Johnson & Johnson about running a booster trial in South Africa after the company’s Covid-19 vaccine was used in a mass trial of almost half a million health workers in the country. The trial would include participants from that study, known as Sisonke, and could possibly... 

South African Medical Research Council President Glenda Gray
South African Medical Research Council President Glenda Gray

Masondo raises R146bn South Africa debt forgiveness 

By: Bloomberg     7th September 2021 David Masondo, South Africa’s deputy finance minister, suggested that investors forgive about R146-billion of sovereign debt in exchange for the national power utility meeting climate targets. In order to transition from the use of coal to generate electricity to renewable energy Eskom Holdings... 

South Africa’s updated NDC climate pledge to be released ‘very soon’ 

By: Terence Creamer     7th September 2021 Forestry, Fisheries and the Environment Minister Barbara Creecy reported on Tuesday that South Africa’s revised Nationally Determined Contribution (NDC), which is to be deposited with the United Nations Framework Convention on Climate Change later this year, is close to being finalised and will... 

Forestry, Fisheries and Environment Minister Barbara Creecy
Photo by Creamer Media's Donna Slater
Forestry, Fisheries and Environment Minister Barbara Creecy

Sars busts warehouse recycling illicit duty-free liquor into the market

By: Schalk Burger     7th September 2021 The South African Revenue Service (Sars) and the South African Police Service (SAPS), with the support of the liquor industry, have uncovered a warehouse in Mpumalanga where duty-free liquor to the value of R15-million was being recycled back onto the market. More than 12 700 cases of duty-free... 

Nedbank initiative aims to uplift entrepreneurs, side hustlers and informal traders

By: Tasneem Bulbulia     7th September 2021 Finance institution Nedbank is bringing together some of its most impactful programmes, as well as those of its partners, to support, grow and inspire entrepreneurs and small businesses in the informal sector under the ‘Together, Beke le Beke’ initiative. This initiative will see entrepreneurs... 

Sanral board embarks on recruitment drive for a CEO

By: Creamer Media Reporter      7th September 2021 The South African National Roads Agency Limited (Sanral) will embark on a recruitment process for a new CEO. The roads agency intends to recommend a suitable candidate for appointment as CEO to Transport Minister Fikile Mbalula before December 1. 

Second-quarter GDP grew by 1.2%

By: Simone Liedtke     7th September 2021 South Africa's gross domestic product (GDP) increased by 1.2% in the second quarter. The uptick in GDP is "certainly a welcome development", especially given the current economic environment against the backdrop of rising unemployment levels, rising input costs, increasing energy costs and the... 

An image of the economic growth drivers in South Africa

ANC offers strong endorsement of Eskom’s just energy transaction following lekgotla  

By: Terence Creamer     7th September 2021 The National Executive Committee (NEC) of the African National Congress (ANC) has given its backing to the just energy transaction being pursued by State-owned electricity producer Eskom. In closing remarks following the NEC’s September lekgotla, ANC president Cyril Ramaphosa said that the... 

Photo of the Komati power station
The Komati power station

Sasol, UCT confirm progress on catalysts that convert hydrogen, CO2 into green jet fuel 

By: Terence Creamer     6th September 2021 Energy and chemicals group Sasol, which aims to become a leader in South Africa’s promising green hydrogen industry, reports that research advancements have been achieved that are supportive of the conversion of hydrogen and carbon dioxide (CO2) into green jet fuel and chemicals. Made in... 

Photo of research under way at Sasol Research & Technology
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