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CEOs plan investments in Africa in medium term amid all-time confidence lows

By: Mia Breytenbach 3rd October 2017 A third of CEOs plan to invest in Africa in the medium term, despite confidence in South Africa being at all-time lows. This is according to the quarterly Merchantec Confidence Index, released on Tuesday. →

Good corporate governance integral to mitigating risk – Manuel

By: Ilan Solomons 3rd October 2017 The current lack of good corporate governance is negatively impacting on many of South Africa’s State-owned enterprises, according to former Finance Minister Trevor Manuel, who believes that working corporate governance could successfully mitigate risk. Delivering the keynote address at the... →

Photo by Duane Daws
Former Finance Minister Trevor Manuel

Decline in insured construction activity to continue – Bryte

By: Mia Breytenbach 3rd October 2017 Insured construction activity contracted by 15% year-on-year in the second quarter. Southern African proactive business risk specialist Bryte Insurance (formerly known as Zurich Insurance) this week released its Construction Activity Monitor for the three months to June 30. →

Acquisition to enable large-scale cannabis production

29th September 2017 International investment company LGC Capital, with its joint venture global logistics solutions company AfriAg, signed an agreement to acquire a 60% interest in South African cannabis product manufacturing company House of Hemp. →

WEED FOR PURPOSE Since its establishment, House of Hemp has been targeting research on all cannabis-related markets such as textiles, fibres, oil, nutrition and medicinal

SEZ receives recognition, contributes to SMME participation

By: Marleny Arnoldi 29th September 2017 Special economic zone (SEZ) developer and operator Coega Development Corporation (CDC) has been recognised by export assistance company Exporters Club for its dedication to job creation initiatives and excellent services to export orientated investors. →

Photo by Duane Daws
JOBS SWEET SPOT The Coega Development Corporation created more than 7 243 operational jobs within its special economic zone at the end of the financial year 2016/17

Small businesses remain optimistic, despite volatility and uncertainties

By: Mia Breytenbach 29th September 2017 Despite economic volatility, South African small business owners remain optimistic and are actively pursuing growth, according to research from cloud based accounting software company Xero. The research report, titled ‘State of South African Small Businesses’ surveys the challenges facing the... →

Photo by Bloomberg
HELPING HAND Some small business owners want the government to provide more funding and some believe government should grant tax breaks for their business

KPMG Gupta blunder could see tighter audit policy, says SARB

By: African News Agency 26th September 2017 The South African Reserve Bank (SARB) said on Tuesday recent developments involving embattled audit firm KPMG SA may compel it to consider policy changes to further strengthen governance and transparency within the auditing and accounting professions. KPMG in South Africa failed to flag monies... →

Big room for improvement in payment of suppliers by government

By: Mia Breytenbach 22nd September 2017 While Minister in the Presidency for Planning, Performance, Monitoring, Evaluation and Administration Jeff Radebe’s commented last month that the time taken by government to pay suppliers is improving, small business representative organisation AHI has identified areas where there is room for... →

Photo by Bloomberg
ROOM FOR IMPROVEMENT There still remain outstanding and unpaid invoices of up to R5.3-billion

Legal framework offers model for enhancing transboundary infrastructure investment

By: Mia Breytenbach 22nd September 2017 The United Nations Economic Commission for Africa (Uneca) has unveiled the Model Law that provides a framework for the harmonisation of cross-border rules, regulations, laws and policies governing transboundary infrastructure projects in Africa. The Model Law was unveiled at the yearly Nigerian... →

Photo by Duane Daws
PAVING THE WAY The Model Law may aid in additional efficiency, transparency and accountability with regard to public and private sector engagement in transboundary infrastructure

Intercontinental alignment agrees to increased economic cooperation

By: Keith Campbell 22nd September 2017 The five member countries of the Brics alignment – Brazil, Russia, India, China and South Africa – are to strengthen trade and investment between themselves. This was affirmed in the “Xiamen Declaration” issued during the IX Brics Summit in the southeastern Chinese coastal city of Xiamen. The... →

More British funds for trade with South Africa and renewed bilateral commitment to post-Brexit trade

By: Keith Campbell 20th September 2017 British International Trade Secretary (equivalent to Minister in South Africa) Dr Liam Fox announced in Pretoria on Wednesday that his country’s export credit agency, UK Export Finance, has increased the funds available to South African enterprises buying British goods and to British companies... →

Photo by Department of Trade and Industry
Dr Liam Fox (left) and Dr Rob Davies (right) outside the InvestSA One-Stop Shop in Pretoria

Consortium to acquire 30% stake in Ethos Private Equity

By: Creamer Media Reporter 19th September 2017 RMI Investment Managers and Royal Investment Managers (RIM) will, as the RMI & RIM Consortium, acquire a 30% interest in private equity investment firm Ethos Private Equity through a series of transactions. The transactions will include a vendor-facilitated black economic empowerment component... →

Project to unlock local gas economy

By: Marleny Arnoldi 1st September 2017 The pursuit of piped gas into South Africa from Mozambique could unlock South Africa’s gas economy, says investment and project development company Fortune Capital. →

Photo by Bloomberg
UNLOCKING POTENTIAL Fortune Capital is an entity that is going to enable power players to access gas in South Africa Filename:

Cost of rooftop solar can be lowered through use of 12J tax rebate

By: Schalk Burger 1st September 2017 Businesses and property owners can leverage an industrial development-focused tax rebate, Section 12J of the Income Tax Act No 58 of 1962, to reduce the costs of installing solar photovoltaic (PV) systems. Venture capital company Nesa Investment Holdings (NIH) has developed a solar PV rental... →

Servest acquires stake in ICT services company

By: Mia Breytenbach 1st September 2017 International facilities management provider Servest has partnered with investment company Bottega InvestCo in the acquisition of integrated information and communications technology (ICT) services company Getronics. The transaction, which is supported by specialist banking and asset management... →

Photo by Duane Daws
ENABLING TRANSACTION The transaction, will enable Servest to provide a seamless facility management and mobile technology offering for its growing client base

AfDB’s sustainable energy fund to support PV project in Lesotho

By: Mia Breytenbach 25th August 2017 The African Development Bank- (AfDB-) managed Sustainable Energy Fund for Africa (Sefa) has approved a $695 500 grant to NEO I SPV, a subsidiary of independent power producer OnePower Lesotho, to support the preparation of a bankable business case for the development of the winning project of the... →

Photo by Bloomberg
WINNING PROJECT The 20 MW solar photovoltaic project is expected to become the first utility-scale solar PV project in Lesotho

Western Cape’s agricultural growth to drive economy

By: Robyn Wilkinson 11th August 2017 Supported by the Western Cape government’s strategic initiatives to help farmers grow their crops – and their market share – the province’s official tourism, trade and investment agency Wesgro has successfully committed investments in the Western Cape agricultural sector of R1.56-billion over the... →

Photo by Bloomberg
UNIQUE ENVIRONMENT The Western Cape plays a key role in South Africa’s agricultural sector, with a unique rainfall pattern allowing for a mixture of agricultural activities

Fund invests into African rail operator

By: Mia Breytenbach 11th August 2017 The Pan-African Infrastructure Development Fund 2 (PAIDF2) has concluded an investment into Sheltam Mauritius, which is the parent company of the South African locomotive and rail operator Sheltam Group. This investment was made through a share subscription for 30% of Sheltam for an undisclosed sum. →

RAIL POTENTIAL Sheltam will soon officially launch initiatives aimed at adding significant capacity to the company’s ambition of being a significant rail operator on the continent of Africa

IDC addresses transparency, governance concerns

3rd August 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about new measures being implemented by the Industrial Development Corporation (IDC) to improve transparency and governance, as well as about the IDC’s investment and disbursement plans for the current financial year. →

IDC addresses transparency, governance concerns

Education institutions struggling with connectivity

By: Simone Liedtke 28th July 2017 Amid water, electricity and basic infrastructure challenges at various education institutions, the lack of Internet connectivity has also been a challenge, states wireless connectivity firm Ruckus sub-Saharan Africa sales director Riaan Graham. →

RIAAN GRAHAM Connectivity to the Internet is essential and if it is available at a school, WiFi can be used to distribute access to the students

AfDB in $2bn project finance pact

By: Mia Breytenbach 28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... →

Photo by Duane Daws
JOINT CONTRIBUTION The banks’ contribution will finance projects in areas, such as agriculture, food security, renewable energy, small and medium enterprises and human development

Technology, digital solutions part of Botswana firm’s microfinance arsenal as it expands across Africa

By: David Oliveira 28th July 2017 Botswana-based microfinance company Letshego Holdings, which operates in 11 African countries, aims to use technology and digital solutions to affect economic redress in Africa and provide financial inclusion for the continent’s most underserved markets. Letshego MD Chris Low explains that the... →

Letshego Holdings MD Chris Low discusses the impact of digital technology on improving financial inclusion for Africa’s underserved. Camerawork and Editing: Darlene Creamer.

May unveils British initiatives aimed at reducing Africa’s reliance on aid

By: Keith Campbell 21st July 2017 British Prime Minister Theresa May used the recent G20 Summit in Hamburg, Germany, to announce a series of new British initiatives intended to reduce the reliance of African countries on aid and increase their long-term stability and prosperity. This was in line with a theme for the summit... →

New tax regime punted as way to spur development of disused or degraded land

By: Donna Slater 14th July 2017 Using tax increment financing to spur business development on disused or degraded land could be a highly feasible method to repurpose otherwise unusable land, as well as create jobs and encourage entrepreneurs and business in general. →

JSE’s cost savings drive to result in 60 job cuts

By: Megan van Wyngaardt 7th July 2017 The JSE plans to reduce its technology operating expenditure by a minimum of R70-million over a two-year period, which will also result in the stock exchange reducing its staff complement by 60 people. Noting that the plans form part of its ongoing cost optimization drive, JSE CEO Nicky... →

AfDB approves $15m equity investment to support inclusive growth

By: Mia Breytenbach 7th July 2017 The African Development Bank (AfDB) has approved a $15-million investment in multinational private equity fund Shore Capital Fund III (ShoreCap III), which promotes financial inclusion by supporting financial institutions serving Africa’s low-income and emerging middle-class communities. The... →

Photo by Bloomberg
FUND OBJECTIVE The Shore Capital Fund III will focus exclusively on sub-Saharan Africa and will provide growth capital and capacity building for inclusive financial institutions

Singularity University to host inaugural African summit

By: Mia Breytenbach 7th July 2017 Singularity University, a global community leveraging exponential technologies to tackle the world’s key challenges, will host its first international SingularityU South Africa Summit from August 23 to 24 in Midrand, Gauteng. The two-day summit will highlight the impact of artificial... →

Photo by Bloomberg
SUMMIT HIGHLIGHT The SingularityU South Africa Summit will highlight impacts of exponential technologies in healthcare, security, design and finance

Manufacturer becomes latest tenant at Eastern Cape industrial park

By: Mia Breytenbach 30th June 2017 The Eastern Cape Department of Economic Development, Environment Affairs and Tourism (Dedeat) last month introduced green manufacturer and innovation company Ikusasa Green as the latest tenant to the Dimbaza Industrial Park, in the Eastern Cape. Ikusasa Green, which manufactures high-end cooler... →

SUPPORTING INVESTMENT Eastern Cape Development Corporation chairperson Nhlanganiso Dladla, Buffalo City Metro Mayor Xola Phakathi, Economic Development, Environmental Affairs and Tourism MEC Sakhumzi Somyo, Massmart group supplier development manager Von Stander and Ikusasa Green MD Thami Gxowa

Local defence sector seeks strategic support from government

By: Keith Campbell 23rd June 2017 Pre-Cabinet level discussions are under way within the Government about transferring State-owned defence industrial group Denel from the aegis of the Department of Public Works to that of the Department of Defence (DoD). This was stated by Defence Secretary Dr Sam Gulube at a recent function... →

S Africa’s attractiveness to investors dependent on economic recovery

By: Nadine James 23rd June 2017 South Africa’s attractiveness to foreign investors in the future will depend a great deal on how it recovers from its latest economic knocks and political and policy developments, warns the Southern African-German Chamber of Commerce and Industry (SAGCCI). SAGCCI CEO Matthias Boddenberg explains... →

RESOLUTE RELATIONSHIP German businesses have deep roots in South Africa and are unlikely to pull out any time soon

State defence group Denel could be transferred from Public Enterprises to Defence

By: Keith Campbell 9th June 2017 Pre-Cabinet level discussions are under way within the government about transferring State-owned defence industrial group Denel from the aegis of the Department of Public Works to that of the Department of Defence (DoD). This was stated by Defence Secretary Dr Sam Gulube at a function marking the... →

Photo by Duane Daws/Creamer Media
Secretary of Defence Sam Gulube

Treasury appoints Dondo Mogajane as DG

By: African News Agency 8th June 2017 National Treasury has announced Dondo Mogajane as its new director-general (DG) after Cabinet confirmed his appointment on Wednesday. This follows the resignation of respected DG Lungile Fuzile last month. →

Treasury director-general Dondo Mogajane

FNB launches latest solution in nav» app series

By: Natasha Odendaal 7th June 2017 Banking giant FNB on Wednesday unveiled the latest addition to its mobile banking application, the nav» Car, developed in conjunction with WesBank, in the next chapter of the group’s ambition of building a seamless digital banking ecosystem aimed at making things easier for the customer.... →

On track for Africa Rail

By: Marleny Arnoldi 2nd June 2017 This month, business-to-business media company Terrapinn will host the twentieth annual Africa Rail exhibition and conference at the Sandton Convention Centre in Johannesburg, Gauteng, from June 13 to 14. Africa Rail provides an interactive platform for rail industry stakeholders to share... →

INCLUSIVE GROWTH Africa Rail provides an interactive platform for rail industry stakeholders with the view to improve railway performance and its contribution to economic development

Finance Minister Gigaba continues to oppose Denel Asia deal

By: Keith Campbell 26th May 2017 The National Treasury on Friday reaffirmed, in a press release, that Finance Minister Malusi Gigaba continues to oppose the proposed joint venture between the State-owned Denel defence industrial group and VR Laser Asia, intended to create a company called Denel Asia. The press release was issued... →

$100-million loan for African infrastructure spending

By: Nadine James 26th May 2017 The Development Bank of Southern Africa (DBSA) and the Agence Française de Développement (AFD) in March signed a $100-million loan agreement aimed at furthering the DBSA’s infrastructure financing activity across Africa. This flexible credit line will focus on DBSA’s four strategic sectors:... →

Mobile app aims to help South Africans save and invest better

By: David Oliveira 26th May 2017 South African financial services provider Liberty launched its Stash investment application (app) earlier this month to help improve a local savings culture by providing a solution that removes the complexity and fear associated with investing. Stash is designed to mitigate all the complicated... →

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