Engineering News | Services | Financial

https://www.engineeringnews.co.za

Advertise on this page? Click Here to Learn More

Financial News

IMF appoints Gita Gopinath economic counsellor, research dept director

By: Marleny Arnoldi 1st October 2018 The International Monetary Fund (IMF) has appointed Gita Gopinath economic counsellor and IMF research department director. Gopinath succeeds Maurice Obstfeld, who is retiring at the end of the year. →

Montalto to expand Intellidex’s depth of research

By: Marleny Arnoldi 1st October 2018 Research and consulting firm Intellidex has appointed Peter Attard Montalto head of capital markets research, to expand its depth of research and widen its client base among global investors. Montalto will lead Intellidex’s coverage of economics, politics and fixed income markets in South... →

African Rainbow Capital to acquire 25% of Moloto Capital Investments

By: Marleny Arnoldi 20th September 2018 Investment holding company African Rainbow Capital (ARC) Investments has subscribed for a 25%interest in black-owned and women-controlled investment company Moloto Capital Investments, which is focused on driving empowerment in the industrial and manufacturing sectors in the country. The... →

South Africa deal flow to continue upward trend this year – Savca

By: Simone Liedtke 13th September 2018 The South African venture capital industry exceeded the R1-billion mark for the first time in 2017 – investing R1.16-billion, the Southern Africa Venture Capital and Private Equity Association’s (Savca’s) ‘2018 Venture Capital Industry Survey’ reveals. The annual publication highlights start-up... →

Sygnia shares start trading on A2X

By: Simone Liedtke 13th September 2018 Investment management company Sygnia’s shares began trading on South African stock exchange A2X on Thursday, with the company becoming the eleventh issuer to secondary list on the exchange. Sygnia, which is based in South Africa, retains its primary listing on the JSE. →

Blockchain for enterprise cloud platform to raise transaction trust

By: Schalk Burger 7th September 2018 Cloud technology multinational Oracle’s Blockchain Cloud Service provides a development platform for enterprises and State organisations to build their own scalable and low-cost blockchain networks, says Oracle cloud platform business development director and Europe, Middle East and Africa... →

JOOST VOLKER Global shipping companies, multinational manufacturers, food producers and energy marketplaces are using Oracle’s Blockchain Cloud Service

Positive ratings from S&P’s, Fitch enhances NDB’s lending capacity

By: Marleny Arnoldi 29th August 2018 Multilateral development bank New Development Bank (NDB) has been assigned an AA+ long-term and A-1+ short-term issuer credit rating by Standard & Poor’s Global Ratings (S&P’s). Earlier this month, Fitch Ratings assigned the bank a long-term issuer default rating of AA+ with a stable outlook... →

Mazars appoints joint-CEOs

By: Marleny Arnoldi 27th August 2018 Financial services firm Mazars South Africa has appointed joint-CEOs Michelle Olckers and Anoop Ninan, effective September 1. The joint-CEOs were elected by Mazars South Africa’s partners in an independent process, based on manifestos indicating their strategic vision for the company. →

British aid partnership aimed at allowing Ethiopia to fund its own development

By: Rebecca Campbell 24th August 2018 Earlier this month the UK launched its largest ever “tax partnership programme”, with Ethiopia. In terms of this partnership, which was announced by UK International Development Secretary (Cabinet Minister) Penny Mordaunt while on a visit to the north east African country, Britain will provide... →

Treasury slams excess cash on NSFAS books

By: News24Wire 21st August 2018 The National Student Financial Aid Scheme (NSFAS) had R153.8-million more cash left than projected at the end of the 2017/18 financial year, it has emerged. Speaking to Parliament's Standing Committee on Appropriations on Tuesday, Treasury’s deputy director general Dr Mampho Modise explained that... →

PwC puts focus on gender pay gap

By: Anine Kilian 16th August 2018 Although South African companies are not required by law to report on the gender pay gap, many organisations have started taking steps to identify pay disparities at all levels, says PwC. “Many companies have also adopted a long-term view to ensure that diversity and, in particular, gender pay... →

Eskom prices oversubscribed $1.5bn notes offering

By: Marleny Arnoldi 13th August 2018 State-owned power utility Eskom has successfully priced a two-tranche ten-year $1.5-billion global bond, under its $4-billion global medium-term note programme, following a series of investor meetings held by the utility, the Department of Public Enterprises, and Europe and US National... →

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger 3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... →

PwC suggests reviewing corporate culture to combat economic crime

By: Nadine James 2nd August 2018 Digital innovation and technology have given rise to new attack surfaces for economic criminals and fraudsters, resulting in the rate of instances growing at exponential levels, PwC’s 2018 ‘Global Economic Crime’ survey shows. The survey, released on Thursday, notes that just under half of... →

Growth potential positive – Naamsa

By: Halima Frost 27th July 2018 Owing to the right policies, interventions and goodwill by all automotive industry stakeholders, National Association of Automobile Manufacturers of South Africa (Naamsa) director Nico Vermeulen says the industry’s growth potential remains positive. “Currently, the automotive industry is the... →

SARB launches commemorative Mandela notes, R5 coin for circulation

By: Marleny Arnoldi 13th July 2018 The South African Reserve Bank (SARB) on Friday hosted a commemorative occasion at Freedom Park, in Pretoria, to introduce a series of banknotes and a R5 circulation coin, in honour of what would have been former President Nelson Mandela’s one-hundredth birthday this year. →

Photo by Marleny Arnoldi
SARB commemorative notes to be circulated in July

M&A advisory firm aims to use SA as gateway to African market

By: Nadine James 13th July 2018 Washington DC-headquartered mergers and acquisition advisory firm Taylor Advisory announced last week that it was entering the African market through South Africa with the appointment of Francois Baird as its Africa co-chairperson and Riaan Rademan as its South Africa co-chairperson. This is... →

FRANCOIS BAIRD Taylor Advisory's ability to deliver the best results, instead of simply brokering a deal, is specifically vital for Africa-based companies

South African CEOs’ optimism waning – index

By: Nadine James 6th July 2018 The Merchantec CEO Confidence Index (MCCI), compiled by corporate finance and research and business advisory company Merchantec Capital, recorded a 20.9% decrease in CEOs’ confidence between the first and second quarters of this year – a downward spike following the increase in optimism between... →

Sars kicks off tax season with charter outlining taxpayers' rights

By: News24Wire 2nd July 2018 The South African Revenue Service (Sars) is taking steps to improve the service delivered to taxpayers with the release of the Service Charter which outlines taxpayers’ rights and responsibilities as well as service standards they can expect from the agency. Acting Sars commissioner Mark Kingon... →

SMEs invited to apply for grant funding

By: Nadine James 20th June 2018 A new application round has opened for the R12.8-million Growth Fund to boost small and medium-sized enterprise (SME) growth and job creation. The Growth Fund is a grant fund specifically aimed at growing South African SMEs that need a cash injection to scale up their businesses and create jobs. →

CIPC launches Extensible Business Reporting Language to relieve regulatory burden

By: Marleny Arnoldi 13th June 2018 The ease of doing business and particularly reducing the regulatory burden for businesses received a boost with the launch of the Companies and Intellectual Property Commission’s (CIPC’s) Extensible Business Reporting Language (XBRL) this week. →

Trade & Industry Minister Dr Rob Davies at the XBRL launch, JSE

Demand rising for funding for grid-tied renewables

By: Schalk Burger 8th June 2018 Financing to build renewable-energy systems for use by businesses in South Africa is growing, with many projects showing good financial viability and return on investment, says financial institution Absa renewable-energy head Justin Schmidt. The return on investment for well-designed energy... →

JUSTIN SCHMIDT Most companies will rely on more than one source of energy, and the most compelling business cases currently are grid-tied solutions

Treasury hits back after EFF attack on Momoniat

By: Sashnee Moodley 7th June 2018 National Treasury on Thursday came to the defence of its deputy director-general Ismail Momoniat following what it called “vitriolic utterances” by the Economic Freedom Fighters (EFF). Earlier this week EFF deputy president Floyd Shivambu accused Momoniat of being corrupt, undermining black... →

Treasury deputy director-general Ismail Momoniat

Sars cuts deadline for tax returns

By: News24Wire 4th June 2018 The South African Revenue Service (Sars) said on Monday that the tax filing season, which kicks off on July 1, has been shortened by three weeks, in a bid to improve efficiency. "A shorter filing season allows additional time for Sars, taxpayers and the tax fraternity to deal with return... →

Private equity outperforms

By: Marleny Arnoldi 28th May 2018 Private equity has outperformed the FTSE/JSE all share total return index and the FTSE/JSE shareholder weighted total return index over the three-year and five-year reporting periods analysed in the fourth quarter of 2017, says private equity industry body Southern African Venture Capital and... →

SARB keeps repurchase rate at 6.5%

By: African News Agency 24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... →

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

By: Simone Liedtke 24th May 2018 Despite a somewhat dismal performance by some of its operations in the financial year ended February 28, branded food services franchisor Famous Brands remains cautiously optimistic about the South African and African landscape, while feeling reserved about its UK operations. This follows... →

Local government accountability 'continues to fail' – Makwetu

By: Simone Liedtke 23rd May 2018 Auditor-General Kimi Makwetu on Wednesday emphasised that “accountability continues to fail in local government” as there was an overall deterioration in the audit results of South Africa’s municipalities for the 2016/17 financial year. The Auditor-General South Africa (AGSA) audited 257... →

Auditor-General Kimi Makwetu

Fintech activity in Africa on the rise

By: Marleny Arnoldi 23rd May 2018 Africa’s fragmented markets and lack of legacy foreign exchange trading infrastructure means that the continent has become a melting pot of fintech activity and innovation, says Standard Bank financial markets digital head Tim Hutchinson. →

Standard Bank financial markets digital head Tim Hutchinson

AfDB, Unido sign MoU to improve Africa’s industrialisation

By: Marleny Arnoldi 21st May 2018 The African Development Bank (AfDB) and the United Nations Industrial Development Organisation (Unido) have signed a memorandum of understanding (MoU) to step up collaboration that will boost Africa’s industrialisation. →

Aton says will not support M&R’s proposed transaction with Aveng

By: Simone Liedtke 21st May 2018 German-owned Aton believes Murray & Roberts (M&R) is putting its interests ahead of that of shareholders and other stakeholders with its proposed combination with Aveng. The sole intent of M&R’s announcement on Friday that it plans to merge with Aveng, Aton states, is to frustrate Aton’s... →

Strong results confirm Capprec’s asset value, growth prospects

By: Schalk Burger 16th May 2018 The strong full year financial results of JSE-listed financial technology (fintech) special-purpose acquisition company Capital Appreciation (Capprec) confirm the value of the assets it acquired over the past few years and promises strong organic growth, said Capprec joint-CEO Bradley Sacks on... →

enX subsidiaries post satisfactory performance in six months to February 28

By: Simone Liedtke 14th May 2018 Diversified industrial group enX’s Eqstra Industrial Equipment (EIE) and Eqstra Fleet Management and Logistics (EFML) operations performed satisfactorily in the six months to February 28, enX reported on Monday. Group revenue for the six-month period ended February 28, increased to R3.6-billion,... →

Vukile grows Spanish retail investment to near €400m

By: Simone Liedtke 10th May 2018 Vukile Property Fund has, through its 98.7%-owned Spanish real estate investment trust (Reit) subsidiary Castellana Properties, acquired Habaneras Shopping Centre, its first shopping centre in Spain, for €80.6-million. The easily accessible open-air shopping centre is in Torrevieja, in the... →

Habaneras Shopping Centre, in Spain (Exterior)

Long4Life declares maiden dividend

By: Simone Liedtke 9th May 2018 Long4Life, which has raised R2-billion in capital since its listing on the JSE in April last year, has declared a maiden dividend of 5.4c a share for the 11 months to February 28. The company on Wednesday reported that it had, in the period under review, acquired Sportsmans Warehouse, Outdoor... →

More banks needed in SA, including State-owned bank – Ramaphosa

By: African News Agency 8th May 2018 President Cyril Ramaphosa on Tuesday expressed support for a legislative amendment to create a State-owned bank and breaking the monopoly of the big four commercial banks in South Africa. "We need to move away from the monopoly of just four banks in our country and create more banks so there is... →

President Cyril Ramaphosa

FNB to roll out biometric banking transaction points in South African townships

By: Schalk Burger 7th May 2018 Financial services firm First National Bank (FNB) will roll out 50 self-service kiosks that use fingerprint biometrics to verify a user’s identity in South African townships over the next six months, FNB Points of Presence CEO Lee-Anne van Zyl said on Monday. The “TouchPoint” is a self-service... →

The FNB TouchPoint reads a user's thumbprint to identify the user

Topics In These Articles

Automation Building Business Construction Industrial Innovation Logistics Manufacturing Power Safety Africa Health Aviation Installation Service Simulator Training Road Financial SECURITY System Cleaning Electra Mining Engineering engineering news Gold Mining Platinum PROJECT Reinforcing ... more

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Newsletters

Sign up for our FREE daily email newsletter

Receive daily sector news alerts

More

Subscriptions

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

Advertise

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

View options

Subscribe