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Latest News

Third-quarter GDP contracts by 1.5%

By: Tasneem Bulbulia     Updated 44 minutes ago South Africa’s gross domestic product (GDP) contracted by 1.5% in the third quarter of the year. Stats SA’s figures show that the trade, catering and accommodation industry decreased by 5.5%, contributing -0.7 of a percentage point to GDP growth. Decreased economic activities were reported for... 

Liquidity crunch again held up as key impediment to Eskom’s maintenance roll-out 

By: Terence Creamer     Updated 44 minutes ago Eskom COO Jan Oberholzer has once again highlighted the utility’s liquidity crunch as a key constraint to the execution of its much-vaunted reliability maintenance programme, which is seen as key to reversing the poor operational performance of its aged coal fleet. The fleet’s energy availability... 

Eskom COO Jan Oberholzer
Photo by Creamer Media's Donna Slater
Eskom COO Jan Oberholzer

Aircraft technical skills impacted by Covid-19 disruption

By: Donna Slater     Updated 58 minutes ago Technical skills needed within the aviation industry have diminished during the Covid-19 pandemic as several air corridors scaled down operations and air traffic generally slowed down in comparison to pre-pandemic levels, aviation solutions company Safomar Aviation CEO Shai Shalem said on... 

Decarbonisation roadmap highlights economic benefits and international support for South Africa

By: Schalk Burger     Updated 1 hour 11 minutes ago Europe-Africa energy cooperation foundation Renewable Energy Solutions for Africa's (Res4Africa's) 'Decarbonisation Roadmap for South Africa' report highlights the economic benefits of modernising and decarbonising the country's economy and demonstrates the broad international financial and... 

Boeing announces establishment of more airliner-to-freighter conversion lines, in China

By: Rebecca Campbell     Updated 1 hour 13 minutes ago US global major aerospace group Boeing announced on Tuesday that it was going to set up two more lines to convert its 737-800 single-aisle airliners into dedicated freighter aircraft (designated 737-800BCF, BCF standing for Boeing Converted Freighter). This is to meet the continuing current... 

Deliberate action needed to change market concentration trajectory of South Africa’s economy – study 

By: Simone Liedtke     Updated 1 hour 24 minutes ago An economic concentration study by the Competition Commission has revealed that, once markets are concentrated, they tend to become more concentrated and that more deliberate action is, therefore, required to change the trajectory of the economy. In addition, the report largely found South... 

Pic of business man's hands and a brochure with graphs.

Specify energy transition action now, the money’s there for it, UN climate envoy urges 

By: Martin Creamer     Updated 1 hour 54 minutes ago The energy transition is woefully under specified, the United Nations special envoy on climate change action and finance Mark Carney told a global webinar, in which he described the specifying of energy transition action as being “a matter of urgency”. Such specification, the webinar heard,... 

Picture from Reuters
Photo by Reuters
United Nations special envoy on climate change action and finance Mark Carney

First wine grape crop estimate for 2022 looks good – Vinpro

By: Simone Liedtke     Updated 2 hours 37 minutes ago South African wine grape producers expect a good, but somewhat smaller, 2022 wine grape crop following a favourable and healthy season. This according to the first of four crop estimates to be issued by viticulturists and producer cellars, agricultural association Vinpro said on December 7. 

RMB takes equity stake in alcohol-free South African drinks company

By: Simone Liedtke     Updated 2 hours 38 minutes ago Financial services provider Rand Merchant Bank (RMB) has partnered with AB InBev’s corporate venture capital arm ZX Ventures to take an equity stake in alcohol-free South African drinks company The Duchess – creator of the world’s first alcohol-free gin and tonic. Launched in 2016, The Duchess... 

Nedlac to approach Constitutional Court next year over mandatory vaccination 

By: Marleny Arnoldi     Updated 3 hours ago The National Economic Development and Labour Council (Nedlac) would approach the Constitutional Court early next year about proposals to implement mandatory Covid-19 vaccinations. During a keynote address at the twenty-sixth Nedlac Summit, on December 7, Employment and Labour Minister Thulas... 

Employment and Labour Minister Thulas Nxesi
Photo by Creamer Media
Employment and Labour Minister Thulas Nxesi

Global air passenger demand recovery continued in October, but Covid-19 Omicron a threat

By: Rebecca Campbell     Updated 4 hours ago The global representative body of the airline industry, the International Air Transport Association (Iata), has warned that the reimposition of travel bans by governments could threaten the recovery of the sector. These bans were re-established in reaction to the emergence of the Omicron variant... 

Volkswagen includes South African in group of best apprentices

By: Irma Venter     Updated 4 hours ago Volkswagen Group South Africa (VWSA) employee Zintle Mvana has been named one of the best apprentices in the global Volkswagen Group. This is an honour bestowed each year to only a handful of the German car maker’s top young talent across the world.  

Image of VWSA employee Zintle Mvana
Zintle Mvana

Record shipment sets sail from Maputo’s Matola Terminal

By: Irma Venter     Updated 4 hours ago A Cape size vessel, about the length of three soccer fields, last week set sail from Grindrod’s Terminal de Carvão da Matola (TCM), carrying a parcel of 147 545 t of magnetite destined for China.  This is the biggest shipment in the port’s history – a new record since the shipment of 121 000 t in... 

Image of the Matola Terminal at the Port of Maputo
The Matola Terminal

SAAFF opens training academy 

By: Irma Venter     Updated 5 hours ago The South African Association of Freight Forwarders (SAAFF) has opened a training academy (SAAFFTA) in an effort to address the skills shortage in the logistics industry.  “By 2030, demand for skilled workers will outstrip supply, resulting in a global talent shortage of more than 85.2-million... 

Tyme completes $180m capital raise

By: Tasneem Bulbulia     Updated 5 hours ago Digital banking group Tyme has successfully secured investments from China-based internet and technology company Tencent and UK development finance institution CDC to complete its $180-million Series B capital raise. The investments from Tencent and CDC are pegged at an additional $70-million. 

SA economy shrinks by 1.5% in the third quarter  

By: News24Wire      Updated 5 hours ago South Africa's gross domestic product contracted by 1.5% in the third quarter of the year on a quarter-on-quarter seasonally adjudged basis, according to Stats SA. The largest falls were in trade, manufacturing and agriculture. The decline brings to an end a period of tentative growth following a... 

South African Rand and Flag

Tongaat refinances South African debt

By: Tasneem Bulbulia     Updated 6 hours ago JSE-listed Tongaat Hulett has completed the refinancing of its existing South African debt facilities, including its remaining term debt, working capital facilities, a revolving credit facility and overdraft facilities. With the support of the South African lenders, the maturity of the existing... 

Sappi introducers vaccine mandate, majority of employees already vaccinated

By: Tasneem Bulbulia     Updated 7 hours ago Dissolving wood pulp and paper-based solutions provider Sappi says that, as at the beginning of December, over 80% of its almost 5 000 South African employees have received at least one vaccine, while 73% are fully vaccinated. Sappi notes that as soon as it was allowed to open its own... 

Shell faces fresh South African court test over seismic programme

By: Bloomberg     Updated 7 hours ago Royal Dutch Shell faces a fresh legal challenge to its planed seismic survey off South Africa’s eastern coastline with local communities seeking to halt the program. The case, filed last week, comes after a South African High Court on Friday dismissed a request for an interdict from a group... 

Vedanta to support Zambia on green energy transition goals

By: Simone Liedtke     Updated 7 hours ago Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country's first Green Economy and Environment... 

Small harbours repairs programme 94% complete – De Lille

By: Yvonne Silaule     Updated 7 hours ago Public Works and Infrastructure Minister Patricia de Lille this week said she was pleased that the Small Harbours Repairs and Maintenance Programme was 94% complete and on track to be concluded in March 2022. The Minister on December 6 visited the Hermanus harbour to inspect the recent... 

Strike ends at Walmart-owned Massmart after agreement reached

By: Reuters     Updated 7 hours ago Thousands of striking workers at companies under Massmart Holdings in South Africa, which is owned by Walmart Inc, will return to work after reaching an agreement over disputes, a labour union said on Monday. The disgruntled workers had been on strike since Nov.19 over low wages, unilateral... 

Nersa gears up to release consultation paper on Eskom’s latest revenue application 

By: Terence Creamer     6th December 2021 The National Energy Regulator of South Africa (Nersa) will release a consultation paper on December 8 alongside Eskom’s fifth multiyear price determination application (MYPD5), which covers the three financial years from 2022/23 to 2024/25. The paper, which is currently being finalised, will... 

Nersa logo

Nampak's improved year-end results reflect focus on reducing risk, growing profits

By: Schalk Burger     6th December 2021 JSE-listed packaging manufacturing multinational Nampak achieved headline earnings a share of 62.3c, a 109% year-on-year increase in trading profit to R1.4-billion and a 24% increase in revenue to R14-billion for the financial year ended September 30. These numbers reflect the company's... 

Local cannabis group to list on Germany’s FSE

By: Marleny Arnoldi     6th December 2021 JSE-listed cannabis holdings group Labat Africa’s share price on the JSE rose by 56% on Monday after the company announced it had been approved for a listing on the Frankfurt Stock Exchange (FSE). Labat is one of two cannabis businesses listed in South Africa, with a focus on... 

Italtile weathers challenging trading conditions

By: Tasneem Bulbulia     6th December 2021 JSE-listed Italtile says the trading conditions for the five months to November 30 were challenging, taking account of the ongoing effects of the Covid-19 pandemic, including severe global supply chain disruptions; civil unrest in July; notable price inflation of imported raw materials and... 

Eurasian Resources, Sber create ESG Alliance

By: Tasneem Bulbulia     6th December 2021 Diversified natural resources group Eurasian Resources Group (ERG) has joined the first conference by Russian bank Sberbank (Sber) to establish the environmental, social and governance (ESG) Alliance. The alliance will aim to facilitate the transition to sustainable economic development by... 

Study finds best method for drones to observe elephants with least impact

By: Donna Slater     6th December 2021 Researchers from Stellenbosch University (SU) have been involved in the first ever paper to be published containing practical guidelines and a suggested ethical protocol on how to cause as little disturbance as possible to elephants when flying over them with drones. The paper, in the journal... 

An image of elephants taken with a drone

Gas-powered electricity generation not South Africa’s best bet for the long term –WWF

By: Donna Slater     6th December 2021 The attractiveness of renewable energy, even in the face of using gas as a bridging fuel to take off from where coal is being disused, is continuing to increase, the World Wide Fund for Nature senior climate specialist James Reeler has said. During a webinar titled ‘Fossil gas: decarbonisation... 

OneLogix warns of lower interim earnings as a result of hail damage, July unrest

By: Simone Liedtke     6th December 2021 Logistics company OneLogix’s earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended November 30 are expected to decrease by between 75% and 95%, and 85% and 105%, respectively. This means that EPS will be between 50c and 250c, while HEPS will be between a loss of... 

Garob Wind Farm successfully commissioned

By: Marleny Arnoldi     6th December 2021 The Garob Wind Farm, in the Siyathemba municipality of the Northern Cape, has successfully started commercial operations. The 145 MW facility was awarded to Enel Green Power South Africa in April 2015 as part of Bid Window 4 of the Renewable Energy Independent Power Producer Procurement Programme. 

MTN makes Covid-19 vaccines mandatory for its employees

By: News24Wire      6th December 2021 MTN has joined a growing number of South African companies that have implemented a vaccine mandate amid the battle with the fourth wave of Covid-19 and the new Omicron variant.  Africa's largest mobile network operator said that those employees who refuse vaccinations, without a valid reason,... 

MTN logo

The world’s first autonomous, emission-free container ship starts operations 

By: Irma Venter     6th December 2021 The world's first electric and self-propelled container ship – Yara Birkeland – has completed its maiden voyage in the Oslo fjord, Norway. “We are proud to be able to showcase the world's first fully electric and self-propelled container ship,” says Yara CEO Svein Tore Holsether. 

Image of the Yara Birkeland
The Yara Birkeland

Energy Regulator approves five LNG storage licences for DNG Energy 

By: Terence Creamer     6th December 2021 The Energy Regulator has approved five site licences for the importation and storage of liquefied natural gas (LNG) by black-owned energy company DNG Energy. The Energy Regulator approved the site licences, along with the licence conditions and reasons for decision, at its meeting on December 6,... 

A DNG Energy container on a truck

Glencore targeting recycling step change  

By: Martin Creamer     6th December 2021 The goals of the Paris Agreement on climate change are best achieved through the circular economy, says diversified mining and marketing company Glencore, which sees recycling as being a significant means for relieving the growing burden that global decarbonisation is set to place on finite raw... 

Picture supplied by Glencore
Glencore 2021 investor update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Grindrod reports solid progress in executing various strategies

By: Tasneem Bulbulia     6th December 2021 JSE-listed Grindrod continues to focus its efforts on executing the Port and Terminals, Logistics and Bank strategies and disposal of noncore businesses, it notes in a pre-close business update. Its Port and Terminals segment has reported healthy volume growth with record performances in the... 

NCCC to convene to assess Omicron variant situation 

By: Thabi Madiba     6th December 2021 President Cyril Ramaphosa said on Monday while it is not yet known what impact the Omicron variant will have on hospital admissions government has been preparing hospitals to admit more patients. He said government is also investigating how it can quickly secure medication for treating Covid-19.... 

Image of President Cyril Ramaphosa
President Cyril Ramaphosa

Hyprop maintains strong liquidity

By: Tasneem Bulbulia     6th December 2021 Property company Hyprop says it has strengthened its balance sheet since the financial year ended June 30, as a result of asset sales and shareholder reinvestments. It currently holds R1.6-billion of cash and R900-million of unused revolving credit facilities. 

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