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Nampak posts R283m operating loss 

By: Marleny Arnoldi     Updated 2 hours 11 minutes ago JSE-listed packaging manufacturer Nampak has reported a loss of R4.3-billion for the year ended September 30. CEO Erik Smuts attributed the loss mainly to impairments related to goodwill at Bevcan Nigeria and assets at Bevcan Angola, Plastics South Africa and DivFood.  

Nampak posts R283m operating loss

Absa PMI decreases again to 52.6  

By: Marleny Arnoldi     Updated 6 hours ago The Absa Purchasing Managers’ Index (PMI) has declined to 52.6 index points in November, from 60.9 points recorded in October. Financial services provider Absa explains that the decline comes after three consecutive upward moves and brings the index to its lowest level since July.  

Agribusiness Confidence Index jumps to 61 in the fourth quarter  

By: Marleny Arnoldi     Updated 4 hours ago The Agricultural Business Chamber/Industrial Development Corporation Agribusiness Confidence Index has rallied to 61 points in the fourth quarter – its highest level since the third quarter of 2014. This followed a notable recovery to 51 points in the third quarter of the year, implying that... 

Agribusiness Confidence Index jumps to 61 in the fourth quarter

Ctrack Freight Transport Index growth slows

By: Irma Venter     Updated 3 hours ago The October Ctrack Freight Transport Index (CFTI) shows that the index will not boast the same growth in the fourth quarter as the record-breaking third quarter, but that some improvement is still expected. The index measures the health of South Africa’s logistics sector. 

Ctrack Freight Transport Index growth slows

Solidarity union members to protest at Denel on Wednesday

By: Rebecca Campbell     Updated 2 hours 6 minutes ago The Solidarity trade union has announced that its members who are employees of State-owned defence industrial group Denel will stage a protest march at the group’s head office in Irene, Centurion, south of Pretoria, on Wednesday at noon. The protest is to express their dissatisfaction over lack... 

Over 400 000 job opportunities already supported through employment stimulus

By: Simone Liedtke     Updated 2 hours 12 minutes ago More than 400 000 job opportunities have already been supported through the Presidential Employment Stimulus, with several programmes in the recruitment or beneficiary identification phase, the Presidency confirmed on December 1. The remaining programmes are all on track to meet their targets,... 

Redefine welcomes signs of green shoots after Covid-19 significantly impacts financial year

By: Simone Liedtke     Updated 2 hours 59 minutes ago Real estate investment trust (Reit) Redefine Properties says it is “well placed” to benefit from logistics growth in Poland after hard lockdown restrictions and dividends withheld by offshore investments “significantly dampened results” for the financial year ended August 31. Tough trading... 

Redefine welcomes signs of green shoots after Covid-19 significantly impacts financial year
Redefine's Andrew Konig and Leon Kok discusses the company's interim results during a virtual briefing on December 1. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

New CEO announced for Sumitomo Rubber South Africa 

By: Irma Venter     Updated 3 hours ago Sumitomo Rubber South Africa (SRSA), the manufacturer of Dunlop, Sumitomo and Falken tyres for the African continent, has announced the appointment of Lubin Ozoux as its new CEO and executive director as from January 1.  Ozoux will take over from outgoing CEO, Riaz Haffejee, who has led the... 

New CEO announced for Sumitomo Rubber South Africa 
Lubin Ozoux

Goodyear South Africa appoints new MD

By: Irma Venter     Updated 6 hours ago Piotr Czyzyk has been appointed as the new MD for Goodyear South Africa (SA). In his former role as product business unit commercial director in Europe, Czyzyk was responsible for overseeing Goodyear’s Central European operation. 

Goodyear South Africa appoints new MD
Piotr Czyzyk 

World Net Logistics now Rhenus Logistics South Africa

By: Irma Venter     Updated 3 hours ago World Net Logistics will be known as Rhenus Logistics South Africa, as from December 1. Acquired by the Rhenus Group in 2019, the company will now operate under a new name, ushering in a new era after 18 years as an independent entity.  

World Net Logistics now Rhenus Logistics South Africa
Dirk Goedhart

Balwin Foundation, CMF to support contractors through construction training programme

By: Simone Liedtke     1st December 2020 Nonprofit organisation (NPO) the Construction Management Foundation (CMF) has entered into a strategic collaboration with fellow NPO Balwin Foundation to support the organisation in its continued quest to train emerging and small contractors from communities surrounding developments by JSE-listed... 

Herotel reaches 100k fixed broadband customer mark

By: Natasha Odendaal     Updated 7 hours ago Fibre and fixed wireless broadband provider Herotel has reached the milestone of 100 000 fixed broadband subscribers on its fibre and fixed wireless networks. The group, which was started in 2014, deployed its own fibre networks, targeting non-metropolitan, underserviced areas across South Africa... 

Irena partners with Ocean Energy Europe to foster incentives, regulatory reforms for ocean energy

By: Marleny Arnoldi     Updated 2 hours 53 minutes ago The International Renewable Energy Agency (Irena) has signed a memorandum of understanding with Ocean Energy Europe (OEE) to accelerate the commercialisation of ocean energy technologies by promoting the right policy incentives and innovative business models in Europe and globally. OEE and... 

Record number of companies disclosing sustainability impacts

By: Donna Slater     Updated 2 hours 12 minutes ago The Global Reporting Initiative (GRI) has welcomed KPMG research that shows a record number of companies, spanning many sectors and geographic regions, are voluntarily disclosing their sustainability impacts – with the GRI Standards the most widely used for reporting. GRI is an independent,... 

Record number of companies disclosing sustainability impacts
GRI chairperson Eric Hespenheide

UK announces emergency aid to help families in Southern Africa

By: Rebecca Campbell     Updated 2 hours 21 minutes ago Although the British government recently announced that it was cutting its aid budget (because of financial stress imposed by the Covid-19 pandemic), the UK announced on Tuesday that the country would provide £7-million (more than R140-million) to support essential services and food assistance to... 

Airbus Helicopters naval UAV programme achieves major milestone

By: Rebecca Campbell     Updated 6 hours ago Europe-based aerospace and defence group Airbus has reported that its VSR700 optionally-piloted vehicle (OPV) helicopter has successfully made fully autonomous approaches and landings and subsequent take-offs from a platform that simulated the movement of ships at sea. The platform is mounted on... 

Airbus Helicopters naval UAV programme achieves major milestone
Photo by Airbus
The VSR700 OPV just before landing on the moving platform; note that the pilot does not have his hands on the controls.

Glencore’s takeover of Orsted LNG effective

By: Marleny Arnoldi     Updated 7 hours ago Diversified miner Glencore on December 1 completed the acquisition of Danish multinational power company Orsted’s liquefied natural gas (LNG) business. Under the terms of the transaction, Glencore’s oil division has taken over a number of LNG supply contracts, as well as the right to use... 

Glencore’s takeover of Orsted LNG effective
Photo by Bloomberg
LNG carrier

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa 

By: Martin Creamer     Updated 2 hours 42 minutes ago A new investment in hydrogen, made by the sustainability-focused AP Ventures, bodes well for South Africa. AP Ventures, an independent venture capital fund that invests in early-stage companies that use platinum group metals (PGMs), has invested €5-million equity in HPNow, which has introduced a... 

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa
Building back better with green hydrogen peroxide.

Metal prices expected to average higher in 2021 amid recovery from Covid-19 – Fitch Solutions

By: Donna Slater     Updated 5 hours ago Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects miners and metal producers to experience a more favourable pricing environment in 2021 with nearly all mineral and metal prices forecast to average higher on a... 

SA Supreme Court dismisses Airlink’s claim against national carrier SAA  

By: African News Agency      Updated 7 hours ago Privately owned airline Airlink said on Tuesday it was disappointed, but respected the Supreme Court of Appeal’s decision to dismiss its claim against South African Airways. Airlink, which services the southern Africa region, applied to the Johannesburg High Court in January for a declaratory... 

 SA Supreme Court dismisses Airlink’s claim against national carrier SAA

IT, OT cybersecurity gaps must be closed as industrial digital transformation advances

By: Schalk Burger     30th November 2020 Companies are optimising their development, production and logistics processes based on operational and status data. As a result, industrial control systems lose their previously insular position once production machines are networked. The increased adoption of Internet of Things (IoT) and big... 

Eskom to be charged with misleading regulator over pollution

By: Bloomberg     30th November 2020 Eskom Holdings, South Africa’s State power utility, said it will be charged with supplying misleading information to the national air quality officer as well exceeding emissions limits at the Kendal coal-fired power plant and breaching its Atmospheric Emission License. “Eskom can confirm it has... 

GIZ calls for expressions of interest for a project to improve artisan training in South Africa

By: Schalk Burger     30th November 2020 German international cooperation for sustainable development and international education agency GIZ has issued a call for expressions of interest from service providers in South Africa to manage a process to improve the quality and market relevance of technical and vocational education and... 

Arid areas in poorer and richer countries affected differently by climate change

By: Rebecca Campbell     30th November 2020 At the global level, as climate has been changing, the amount of vegetation in arid areas has been increasing. But scientists at the University of Copenhagen, Denmark, have, following analysis of 15 years’ worth of satellite imagery of vegetation and rainfall, identified a worrying trend:... 

UNDP, WRC award R3m grant to water innovators  

By: Natasha Odendaal     30th November 2020 Seven water innovators have been awarded an aggregate R7-million grant to kick off field testing and further product development after a call for solutions to help resolve some of South Africa’s water challenges, particularly those exacerbated by the Covid-19 pandemic. The United Nations... 

Invicta’s strategy paying off, says CEO

By: Simone Liedtke     30th November 2020 Investment holding and management company Invicta Holdings is starting to see its strategy, which focuses on lowering debt levels, optimising return on equity, simplifying structures and focusing on key operational areas, pay off. This is despite the negative impact of Covid-19 and related... 

Aveng may ‘upsize’ R300m recapitalisation should shareholders show appetite 

By: Terence Creamer     30th November 2020 Infrastructure and contract mining group Aveng has expressed confidence that its recently unveiled debt restructure and recapitalisation plan will provide the “reset” required for its two  remaining core businesses, McConnell Dowell and Moolmans, to begin growing again, with the Australasian... 

Aveng may ‘upsize’ R300m recapitalisation should shareholders show appetite
Photo by Creamer Media's Donna Slater
CEO Sean Flanagan

Barloworld to focus on industrial goods, food sector going forward 

By: Irma Venter     30th November 2020 Barloworld will, in the medium to long term, focus on two verticals, namely industrial goods and related services, as well as food and food ingredients, says CEO Dominic Sewela. “As we manage the pivoting out of the automotive and logistics business . . . we are very clear that we don’t want to... 

Barloworld to focus on industrial goods, food sector going forward
Dominic Sewela

Mahle Behr recognized as one of Africa’s top Kaizen performers

By: Irma Venter     30th November 2020 Mahle Behr has been recognised as one of Africa’s top Kaizen performers at the Africa Kaizen Annual Conference (AKAC). Mahle Behr was selected to represent South Africa after being crowned national automotive Kaizen champion, and competed against 22 other nominees from 13 African countries. 

Mahle Behr recognized as one of Africa’s top Kaizen performers

Vukile reports R206m interim loss

By: Marleny Arnoldi     30th November 2020 JSE-listed Vukile Property Fund has managed to contain its retail vacancies at 3% in the six months ended September 30, while sustaining a rent collection rate of 95%. The company, in its latest results statement, says the footfall at its properties was at 86% for the six months under review,... 

Brazilian aerospace group delivers first modernised radar plane to Brazilian Air Force

By: Rebecca Campbell     30th November 2020 Brazil-based major aerospace and defence group Embraer announced on Friday that it had delivered the first modernised E-99M airborne early warning and control (AEW&C) aircraft to the Brazilian Air Force (abbreviated to FAB in Portuguese). The E-99M (M stands for modernised) is known to Embraer as... 

Brazilian aerospace group delivers first modernised radar plane to Brazilian Air Force
Photo by Embraer
The first upgraded E-99M for the Brazilian Air Force

Mining can retake investor darling status by going green – Frandsen  

By: Martin Creamer     30th November 2020 The taking of clear sustainability steps can make mining the darling of the investor community once again. Mining cannot participate in anything that leaves the world a worse place and needs to be cognisant of what it takes to have a licence to operate. Mining must have a smaller carbon... 

Pallinghurst Group Managing Partner and Co-Founder Arne Frandsen interviewed by Mining Weekly’s Martin Creamer on the current demand for sustainable mining. Video: Darlene Creamer.

BLSA CEO urges South Africans to ‘face the realities’ of Covid-19 pandemic 

By: Simone Liedtke     30th November 2020 Business Leadership South Africa CEO Busi Mavuso is urging South Africans to “face the realities of the pandemic” or risk facing a worse spike in infections that will ultimately do more damage to the economy and public health. In her weekly newsletter, she laments that the Covid-19 pandemic... 

BLSA CEO urges South Africans to ‘face the realities’ of Covid-19 pandemic
Photo by Creamer Media
BLSA CEO Busi Mavuso

Investments of R7.7bn heading directly to the City of Cape Town

By: African News Agency      30th November 2020 Investments totalling R7.7-billion are heading directly to the City of Cape Town, mayoral committee member for economic opportunities and asset management James Vos said on Sunday. Of the investments announced at last week’s Presidential Investment Summit, R7.7-billion would be invested directly... 

Electricity grid collapses in Nigeria, Africa's largest economy

By: Reuters     30th November 2020 Nigeria's national electricity grid collapsed on Sunday, the Transmission Company of Nigeria (TCN) said in a statement. Power outages in Nigeria, the most-populous nation in Africa, are common, but a system collapse is unusual. 

European Space Agency announces contract for removal of orbital debris

By: Rebecca Campbell     27th November 2020 The European Space Agency (ESA) is contracting Swiss start-up company ClearSpace to remove a piece of space debris from orbit, in a deal worth €86-million. The will be both the first ever mission to remove orbiting space debris and the first time ESA has contracted a private-sector company to... 

Opinion: How African countries can mobilise private capital for their infrastructure drives

27th November 2020 In this opinion piece, Standard Bank corporate and investment banking CE Kenny Fihla writes about governments turning to public-private partnerships to deliver large-scale projects. Given the pressure on investment yields in developed markets, African nations have an opportunity to attract... 

Opinion: How African countries can mobilise private capital for their infrastructure drives

Sustainability presents good business case for companies, speakers say

By: Tasneem Bulbulia     27th November 2020 Businesses can achieve both environmental and economic benefits by implementing sustainable business practices and that should be done in a just transitional process, speakers noted during electronics company Epson’s ‘Towards a Greener Future’ webinar on November 27. Industry body, the Paper... 

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