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Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn 

By: Terence Creamer     22nd May 2019 Energy and chemicals group Sasol, which announced another large increase in the capital cost of its Lake Charles Chemicals Project (LCCP) being built in the US, will accelerate its $2-billion noncore asset disposal programme and will used the proceeds to deleverage its balance sheet. Joint... 

Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn
Photo by Creamer Media
Joint presidents and CEOs Bongani Nqwababa and Stephen Cornell

Nersa to host workshop to clarify licensing process for small-scale power plants 

By: Terence Creamer     22nd May 2019 The National Energy Regulator of South Africa (Nersa) says it will, in due course, host a stakeholder workshop in order to provide clarity on the processes it will follows, as well as information it requires, in order to register or licence small-scale embedded generators (SSEGs). In a statement... 

Nersa to host workshop to clarify licensing process for small-scale power plants

Eskom keeps investors in the dark as debt speculation mounts 

By: Bloomberg     22nd May 2019 As speculation swirls about plans to deal with Eskom Holdings’ crippling debt load, one group of stakeholders hasn’t been consulted – owners of the company’s R243-billion of bonds. South Africa’s State-owned power utility is groaning under almost R500-billion of bond and loan debt, according to... 

Court date set for Cape Metro's bid to buy power directly from IPPs

By: African News Agency      22nd May 2019 The City of Cape Town on Tuesday welcomed the high court in Pretoria setting a date for its petition to buy electricity directly from independent power producers (IPPs). The City wants the Energy Minister and the National Energy Regulator of South Africa (Nersa) to allow it to purchase power from... 

Digital innovation outside of the ‘factory’ needed for manufacturing success – tech advisory

By: Marleny Arnoldi     22nd May 2019 The Fourth Industrial Revolution (4IR) is blurring the boundaries between how people traditionally see an organisation and what people call a “factory” in the first place, says technology advisory company On-a-Cloud CEO Geoff Scott. During a seminar at the Local Manufacturing Expo, in... 

PRASA places three executives on special leave

By: Simone Liedtke     22nd May 2019 The Passenger Rail Agency of South Africa (PRASA) has placed the company’s chief strategy offer Dr Sipho Sithole; its legal, risk and compliance head Martha Ngoye and its group CEO Tiro Holele on special leave. The decision follows ongoing investigations into allegations of improper, irregular,... 

Transnet, CMI Emtateni terminate controversial R4.2bn Durban port expansion contract

By: African News Agency      22nd May 2019 State-owned freight and rail company, Transnet said on Tuesday that its contractor, CMI Emtateni Joint Venture, has terminated its R4.2-billion contract for a megaproject to create deeper berths at the Durban Container Terminal (DCT). This comes after Transnet in November last year stopped all... 

Tiger Brands delivers mixed interim results

By: Tasneem Bulbulia     22nd May 2019 JSE-listed Tiger Brands has delivered a mixed set of results for the six months ended March 31. During the period, the trading environment remained difficult, with continued pressure on 

April consumer price inflation stays in target range

By: News24Wire      22nd May 2019 Annual headline consumer price inflation for April has moderated to 4.4% Stats SA announced on Wednesday morning, a figure in line with the expectations of economists.  This is within the target range of between 3% and 6% set by the SA Reserve Bank, and slightly down from CPI of 4.5% in March. On... 

 April consumer price inflation stays in target range

TNPA to review hull cleaning permits

By: Marleny Arnoldi     22nd May 2019 The Transnet National Ports Authority (TNPA) intends to introduce in-water hull cleaning at South African ports in an effort to stringently manage biofouling, where marine organisms attach themselves to the hull of a ship and niche areas, potentially spreading alien and invasive species across... 

Comair CEO Erik Venter resigns unexpectedly to pursue own interests

By: African News Agency      22nd May 2019 JSE-listed Comair Limited announced late on Tuesday that Erik Venter has resigned as chief executive of the company to pursue his own interests, after 23 years with the airline. Venter, who was Comair chief executive for 13 years, will leave at the end of July 2019. Comair said the board has not... 

SACPCMP calls on construction industry to avoid being timid

By: Simone Liedtke     22nd May 2019 The South African Council for the Project and Construction Management Professions (SACPCMP) has called on the South African construction industry to avoid being timid. In an address at Construction Industry Conversations forum, held last week, SACPCMP registrar Butcher Matutle encouraged the... 

Hidroeléctrica de Cahora Bassa announces IPO

By: Tasneem Bulbulia     22nd May 2019 Hidroeléctrica de Cahora Bassa (HCB), the Mozambican concessionaire of the Cahora Bassa hydroelectric plant, has announced the launch of its initial public offering (IPO) for up to 7.5% of its shares to individual Mozambican nationals and collective national investors. The IPO will see a first... 

MTN close to paying off 330bn naira fine in Nigeria – NCC

By: Reuters     22nd May 2019 African telecommunications giant MTN has paid 275-billion naira ($898.99-million) toward a 330-billion naira fine imposed on it for not disconnecting unregistered SIM cards, Nigeria's communications agency said on Tuesday. The final 55-billion naira payment from MTN, Africa's largest... 

LSE says, hello, Africa! Come list with us

By: Bloomberg     22nd May 2019 It’s not often that the LSE comes to Africa looking for listings. Traditionally companies based on the continent have to make a strong case to have their stock traded on one the world’s biggest bourses. But this week, officials are on roadshow in a bid to boost the LSE’s 115 African listings. The... 

Kibo subsidiary to acquire UK gas-fuelled power plant project

By: Marleny Arnoldi     22nd May 2019 Aim- and JSE-listed Kibo Energy’s 60% subsidiary MAST Energy Developments (MED) has executed an agreement to acquire Bordersley Power Limited (BPL) from Balance Power Projects. BPL – a special purpose vehicle – will comprise a 5 MW gas-fueled power generation plant, which will be supported by an... 

BP bosses get public grilling on climate from largest investors

By: Bloomberg     22nd May 2019 BP lined the road leading to its annual shareholder gathering in Scotland’s oil capital with hoardings touting investments in renewable energy. Inside the meeting, there was a fierce debate on whether the energy major was telling the truth. On Tuesday, investors large and small grilled BP’s... 

Minerals Council welcomes safety improvements, but warns of continuing policy concerns 

By: Nadine James     22nd May 2019 The Minerals Council South Africa will, later this year, launch a new health and safety initiative called Khumbela iKhaya, council chaiperson Mxolisi Mgojo revealed on Wednesday. Addressing the council's annual general meeting, he noted that appreciable improvements in the health and safety... 

Minerals Council welcomes safety improvements, but warns of continuing policy concerns
Photo by Creamer Media's Dylan Slater
Minerals Council chairperson Mxolisi Mgojo

New study proves penguins are key indicators of ocean health

By: News24Wire      22nd May 2019 A new study has proven that African penguins benefit when there is a greater abundance of fish available and it can be used to inform fisheries management in future. The three-year study looked at a colony on Robben Island during a period when the area was closed to commercial fishing and... 

Fire and fury from the bench as Thales tries to create distance between itself and Zuma

By: News24Wire      22nd May 2019 Arms company Thales has tried to distance itself from former President Jacob Zuma, as both parties seek a permanent stay of prosecution on charges relating to the now-infamous Arms Deal. But this angle from Thales' lawyers on Tuesday sparked a volley of questions from a full bench in the... 

PetroConnect calls for fuel industry collaboration

By: Simone Liedtke     21st May 2019 With the South African energy sector undergoing significant change, particularly with the introduction of the Liquid Petroleum Sector Codes currently under way, PetroConnect directors Mark Harper and Sbonelo Mbatha have called on the fuel industry to “see transformation as an opportunity and not... 

PetroConnect calls for fuel industry collaboration
Photo by Creamer Media's Dylan Slater
PetroConnect director Mark Harper

BBBEE Commission says most broad-based schemes failing ‘ownership test’ 

By: Terence Creamer     21st May 2019 The regulatory body overseeing the implementation of South Africa’s broad-based black economic empowerment (BBBEE) legislation has dismissed suggestions that changes have been made to the rules governing the treatment of trusts and other broad-based structures under the ownership element of the... 

BBBEE Commission says most broad-based schemes failing ‘ownership test’

Saceec warns capital equipment industry to comply with legislation in foreign countries

By: Nadine James     21st May 2019 South African machinery and capital equipment companies must understand the legislation of countries they are operating in, or exporting to, South African Capital Equipment Export Council chairperson and CEO Eric Bruggeman told delegates attending the Local Southern African Manufacturing Expo,... 

Retirement fund industry urged to invest in cybersecurity

By: Tasneem Bulbulia     21st May 2019 Given the increasing threat of cybercrime globally, Sanlam corporate sales and marketing CE Viresh Maharaj has warned the local retirement fund industry to give careful consideration to its cybersecurity. Speaking at a pre-briefing session outlining the contents that will be unlocked at the... 

South Africa will welcome new 'balanced' Cabinet – Ramaphosa

By: News24Wire      21st May 2019 President Cyril Ramaphosa says he believes the country will welcome his new Cabinet when he announces it within the next week. Ramaphosa, Deputy President David Mabuza, and other ANC officials attended the governing party's first Parliamentary caucus sitting on Tuesday since the May 8 elections. 

Gautrain will not reissue rolling stock tender 

By: Irma Venter     21st May 2019 The tender for the procurement of new 12 new four-car trains for the Gautrain system will not be reissued, says Gautrain Management Agency communication and marketing senior executive manager Dr Barbara Jensen. An almost three-year tender process, initiated in February 2016, to secure additional... 

Gautrain will not reissue rolling stock tender

South Africa urged to consider the benefits of 4IR

By: Mamaili Mamaila     21st May 2019 Although South Africa faces many challenges, it is in a good position in terms of its uptake of the Fourth Industrial Revolution (4IR), University of Johannesburg Institute for Intelligent Systems director Professor Babu Paul said on Tuesday. “While many ask what will happen to the poor once 4IR... 

South Africa urged to consider the benefits of 4IR
University of Johannesburg Institute for Intelligent Systems director Professor Babu Paul

Airbus announces range extensions for its new A220 family

By: Rebecca Campbell     21st May 2019 Europe-based global aerospace group Airbus announced in Canada on Tuesday that it would be offering airlines an increased range version of its A220 small (100 seats to 150 seats) single-aisle airliner family, from the second half of next year. The A220 family is composed of two models, the... 

Zimbabwe hikes diesel, petrol prices by up to 47% – energy regulator

By: Reuters     21st May 2019 Zimbabwe's energy regulator on Tuesday announced that prices of diesel and petrol had been increased by up to 47% effective immediately, a day after the central bank said oil firms would now buy dollars to import fuel on the interbank market. The latest price increase had been expected and... 

Abrahams relied on wrong sections of law to prosecute Thales, says Katz

By: African News Agency      21st May 2019 The legal team for French arms’ company Thales argued on Tuesday that South Africa’s former prosecutions’ chief, Shaun Abrahams, relied on, among other things, the wrong sections of the law when deciding to reinstate charges against its client. Advocate Anton Katz, SC, also said that when... 

No injuries or fatalities reported in Germiston train fire

By: News24Wire      21st May 2019 No injuries or fatalities were reported after a train caught fire in Dinwiddie, Germiston, on Tuesday, according to Ekurhuleni Emergency Medical Services (EMS). "We received a call at 06:30, saying a train was on fire... next to the Scaw Metals company. 

Trade tensions put global economic growth on a 'subpar' setting

By: Bloomberg     21st May 2019 Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the OECD’s latest outlook. The report sticks to the gloomy tone long held by the Paris-based organization, which has warned that trade disruptions could ricochet throughout... 

SARB to keep repo rate unchanged and monitor inflation – economists

By: African News Agency      21st May 2019 The South African Reserve Bank (SARB) is likely to keep the repurchase (repo) rate unchanged at 6.75% on Thursday while retaining a cautious policy stance given upside risks to the inflation outlook, economists have said. In March, the SARB's monetary policy committee (MPC) unanimously decided to... 

City of Cape Town allocates approximately R25m to give Fisherman’s Lane a facelift

By: African News Agency      21st May 2019 The City of Cape Town on Tuesday said it has allocated approximately R25-million in its proposed budget over the next three years for the upgrade of the coastal infrastructure at Fisherman’s Lane at Strandfontein on the False Bay coastline. "The spring tides and wave action have left its mark on... 

Step inside Joburg's first plastic-free packaging store

By: News24Wire      21st May 2019 The Refillery, Johannesburg’s very first plastic-free grocery store, is helping South Africans fill their pantries, while addressing the plastic pollution crisis. The store, owned and co-founded by Sam and Dom Moleta, opened its doors in Cedar Square, Fourways two months ago. 

Kaspersky Lab to open Rwanda office

By: Creamer Media Reporter      21st May 2019 Cybersecurity company Kaspersky Lab plans to open a new office in Kigali, Rwanda, to support the rapid growth of its business in East Africa. This strategic move will provide more room for development, as well as closer proximity to new partners in the region, allowing Kaspersky Lab to continue... 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

Zimbabwe to subsidise public transport as inflation jumps

By: Bloomberg     21st May 2019 Zimbabwe will subsidise public transport and cut fuel duties by more than half as it tries to ease the impact of rampant inflation on its poorest citizens, according to Finance Secretary George Guvamatanga. The support will cost about $8-million a month, Guvamatanga said by phone on Monday. “A... 

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