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Latest News

Auto industry to face up to 30% job, production losses, says AIDC report 

By: Irma Venter     27th May 2020 Taking into account an anticipated 6.1% decline in South Africa’s economic growth owing to the Covid-19 pandemic, new-vehicle sales will probably fall by between 20% and 30% in 2020, says a report issued by the Automotive Industry Development Centre (AIDC), titled Re-gearing the Gauteng... 

South Africa's central bank says lenders can handle coronavirus crisis 

By: Reuters     27th May 2020 South Africa's central bank said on Wednesday the coronavirus had resulted in far reaching risks to financial stability and banks' profitability would suffer, but lenders were in a good position to weather the storm. The country's banks, some of the largest on the continent including Standard... 

South Africa's central bank says lenders can handle coronavirus crisis
Photo by Reuters
SARB governor Lesetja Kganyago

Minerals Council president reflects on urgency of restoring economy 

By: Martin Creamer     27th May 2020 Re-elected Minerals Council South Africa president Mxolisi Mgojo on Wednesday called on all the leaders of the mining industry to commit to continuing to address the Covid-19 health threat with uncompromising vigour and emphasised that the introduction of measures to restructure the economy was... 

Minerals Council president reflects on urgency of restoring economy
Photo by Creamer Media
Minerals Council president Mxolisi Mgojo

International and national air transport bodies appeal to South Africa to support its airlines

By: Rebecca Campbell     27th May 2020 The International Air Transport Association (Iata), the Airlines Association of Southern Africa (AASA) and the Board of Airline Representatives of South Africa (Barsa) have jointly appealed to the South African government to provide direct financial relief to the country’s airline sector. This... 

Arrowhead performs above expectations in tough interim period

By: Tasneem Bulbulia     27th May 2020 Diversified real estate investment trust Arrowhead recorded a solid performance ahead of expectations for the six months ended March 31, despite having to contend with a tough economic environment. Speaking to Engineering News on May 27, Arrowhead CEO Mark Kaplan highlighted some of the... 

SAA will not be resuming flights just yet, say BRPs

By: Simone Liedtke     27th May 2020 A press statement issued this week, which suggests that South African Airways (SAA) will resume domestic services by mid-June, is “incorrect” and in violation of SAA’s business rescue practitioners’ (BRP’s) communications protocol. The protocol was put in place to ensure that unvetted releases... 

SAA will not be resuming flights just yet, say BRPs

Iata reports that global airline debt as ballooned as a result of Covid-19 measures

By: Rebecca Campbell     27th May 2020 In its latest briefing regarding the impact of the Covid-19 pandemic (and the near total halt in commercial air passenger traffic to help try and contain it) on the global airline industry, the International Air Transport Association (Iata) has reported that it expected global airline debt to... 

Datatec posts strong results as Westcon turns around fortunes 

By: Natasha Odendaal     27th May 2020 JSE-listed Datatec on Wednesday May 27 posted strong results for the year ended February 29, as Westcon International returns to profitability and Logicalis Latin America produces an “exceptional performance”. The information and communications technology (ICT) group reported earnings before... 

Datatec posts strong results as Westcon turns around fortunes
Datatec CEO Jens Montana and CFO Ivan Dittrich discuss the company's results for the year ended February

South Africa's rand falls as Sino-US friction dents risk appetite

By: Reuters     27th May 2020 South Africa's rand fell early on Wednesday in line with weakness in other emerging market currencies, as increasing Sino-US friction over China's proposed security law for Hong Kong dented risk appetite. At 0645 GMT, the rand traded at 17.4900 per US dollar, 0.45% weaker than its previous close. 

South Africa's rand falls as Sino-US friction dents risk appetite

Reports of CEF acquiring Sasol’s fuel retail network dismissed

By: Terence Creamer     27th May 2020 Chemicals and energy group Sasol has dismissed reports that it plans to sell its fuel retail business as part of an ongoing asset disposal process, while the State-owned Central Energy Fund (CEF) has described as “malicious” reports that it is in talks to acquire Sasol’s petrol stations. Sasol... 

Reports of CEF acquiring Sasol’s fuel retail network dismissed
Photo by Creamer Media's Donna Slater
Sasol CFO Paul Victor

Environmental, social, governance integral to Prieska copper-zinc project 

By: Martin Creamer     27th May 2020 The Prieska copper-zinc mine being developed so spectacularly by Orion Minerals in the Northern Cape has environmental, social and governance principles integrally built into it, Mining Weekly can today report. The updated bankable feasibility study just released not only reduces the capital... 

Environmental, social, governance integral to Prieska copper-zinc project
General layout of the Prieska project

Scopa unsatisfied with pace of DWS investigation

By: Creamer Media Reporter      27th May 2020 The Standing Committee on Public Accounts (Scopa) has expressed its discontent over the slow progress of investigations into unauthorised, irregular, fruitless and wasteful expenditure cases at the Department of Water and Sanitation (DWS) and its water trading entities. While the committee... 

Bid documents for 2 000-MW emergency power being finalised after Nersa concurrence ‘milestone’ 

By: Terence Creamer     26th May 2020 The Department of Mineral Resources and Energy (DMRE) confirmed on Tuesday that the National Energy Regulator of South Africa (Nersa) had concurred with a Ministerial determination submitted to the regulator in February for the procurement of 2 000 MW of emergency electricity from independent... 

Bid documents for 2 000-MW emergency power being finalised after Nersa concurrence ‘milestone’
IPP Office working on scheme to procure 128 MW of additional energy from existing wind and solar farms

SAA getting ready to restart domestic flying

By: Rebecca Campbell     26th May 2020 State-owned national flag carrier South African Airways (SAA) is making preparations for the resumption of domestic air flights, between Johannesburg and Cape Town. It is seeking to be operationally ready for the the restart of this route in the middle of next month, should this be authorised.... 

IT professionals report increased cybersecurity threats related to remote working

By: Schalk Burger     26th May 2020 A survey has found that 71% of information technology (IT) and security professionals have reported an increase in security threats related to remote working, while Interpol and Europol have warned of a huge spike in Covid-19-related fraud, says cybersecurity multinational Check Point Africa... 

WEF provides action plan principles to combat Covid-19 cybersecurity risks

By: Schalk Burger     26th May 2020 The World Economic Forum (WEF) on May 26 launched its 'Cybersecurity Leadership Principles: Lessons learned during the Covid-19 pandemic to prepare for the new normal' report to support business leaders to reinforce the cyber resilience of their organisations. In a matter of weeks, the pandemic... 

Australian-led international astronomy team finds ring-of-fire galaxy in early universe

By: Rebecca Campbell     26th May 2020 An Australian-led international team of astronomers has reported the discovery of an extremely rare type of galaxy, early in the history of the universe. The galaxy, designated R5519, was discovered using spectroscopic data collected by the WM Keck Observatory in Hawaii and images taken by the... 

Australian-led international astronomy team finds ring-of-fire galaxy in early universe
Photo by James Josephides/Swinburne Astronomy Productions
Composite image of galaxy R5519

Development resumes at Kibo’s UK power plant

By: Simone Liedtke     26th May 2020 Subject to certain ongoing Covid-19-related restrictions and safety measures, AB Impianti has resumed engineering, procurement and construction (EPC) operations, which will increase over the coming months, for the 5 MW Bordersley gas-fuelled power generation plant in the UK. Bordersley is a... 

DMRE to fast-track mining rights, capital projects to help save jobs 

By: Marleny Arnoldi     26th May 2020 To help create jobs in what will remain a challenging macroeconomic environment for the foreseeable future, the Department of Mineral Resources and Energy (DMRE) says it will fast-track its capital expenditure (capex) projects planned for the next five years. If an allocated R25-billion can be... 

SANEDI says clean energy could boost country’s Covid-19 economic stimulus plan

By: Tasneem Bulbulia     26th May 2020 Government organisation, the South African National Energy Development Institute (SANEDI) says clean energy principles and technologies should form part of the country’s post Covid-19 economic stimulus plan. This will help to ensure the country stays on target to achieve national environmental... 

Rolls Royce, Daimler to partner in fuel-cell generator alternative for data centres

By: Simone Liedtke     26th May 2020 Rolls-Royce Power Systems business unit and Daimler Truck plan to cooperate on stationary fuel-cell generators as carbon dioxide- (CO2-) neutral emergency power generators for safety-critical facilities such as data centres, and a comprehensive cooperation agreement is to be prepared and signed... 

Rolls Royce, Daimler to partner in fuel-cell generator alternative for data centres

Transnet reports recovery in some units, but still expects big Covid-19 revenue hit 

By: Terence Creamer     26th May 2020 State-owned freight logistics group Transnet reports that there has been a recovery in some of its operations since the easing of lockdown restrictions and is increasing tending towards an “optimistic” recovery scenario for many of its units – a scenario that assumes a ramp-up to full operations... 

Transnet reports recovery in some units, but still expects big Covid-19 revenue hit

SA's economic reopening while Covid-19 numbers rise is unique – Mkhize 

By: African News Agency      26th May 2020 South Africa found itself in the unique position of lifting lockdown restrictions as the national number of Covid-19 infections surged, Health Minister Zweli Mkhize told the National Council of Provinces on Tuesday. Mkhize said the government had no choice to lift confinement measures given the... 

SA's economic reopening while Covid-19 numbers rise is unique – Mkhize
Health Minister Zweli Mkhize

South Africa’s virus fight pits government against scientists

By: Bloomberg     26th May 2020 The scientific community’s support for South Africa’s management of the coronavirus outbreak risks being undermined by the health ministry’s harsh response to criticism from a leading expert. Glenda Gray, president of the South African Medical Research Council and a member of a virus advisory... 

CEF looks to buy Sasol assets to end losses

By: Bloomberg     26th May 2020 The State-owned Central Energy Fund (CEF) is considering buying assets that have been put on the block by fuel and chemical maker Sasol as it seeks to restore itself to profitability. The CEF “needs to put an end to the losses” at its units, including oil company PetroSA, chairperson Monde... 

Giflo celebrates ten years in the property industry

By: Simone Liedtke     26th May 2020 Property management company Giflo this week celebrates ten years in the business, during which it has grown to a full-spectrum developer of residential, hotel, retail and medical developments nationwide. During this anniversary year, which is characterised by the Covid-19 pandemic, a lot of... 

Giflo celebrates ten years in the property industry
Artist's render of Building B adjacent to Barloworld Logistics building at Giflo's Irene Link Precinct development.

Nigerian govt seeks EPC contractor for Kumbotso power plant project

By: Simone Liedtke     26th May 2020 The Nigeria Sovereign Investment Authority (NSIA) is seeking the services of an engineering and construction firm to facilitate the realisation of a 10 MW grid-connected solar photovoltaic (PV) power plant in Kumbotso, Nigeria. The project will involve the design, engineering, procurement,... 

Electrolux South Africa partners with PowerOptimal to sell solar geyser solution

By: Marleny Arnoldi     26th May 2020 Energy solutions developer PowerOptimal has partnered with the South African subsidiary of Swedish appliance giant Electrolux to help bring cost-effective and sustainable solar photovoltaic (PV) water heating solutions to the local market. The partnership will see PowerOptimal’s Elon solar PV... 

First attempt at space launch by Virgin Orbit fails

By: Rebecca Campbell     26th May 2020 Commercial small satellite launch company Virgin Orbit has reported that its first demonstration launch, on May 25, had had to be aborted because of an “anomaly” that occurred shortly after the rocket’s first stage had ignited. Virgin Orbit uses an air-launched rocket system in which the launch... 

First attempt at space launch by Virgin Orbit fails
Photo by Virgin Orbit
LauncherOne (bottom of picture) successfully ignites its first stage after being dropped by Boeing 747 “Cosmic Girl” (climbing away at the top of the picture)

Distell welcomes opening up of sector, but calls for clarity on key concerns

By: Tasneem Bulbulia     26th May 2020 South African drinks company Distell Holdings has welcomed the announcement by President Cyril Ramaphosa that the country’s move to Level 3 of lockdown would include the sale of alcohol for home consumption under strict conditions. Ramaphosa confirmed that these conditions had not been finalised... 

Trend Micro research highlights emerging deepfake ransomware, AI bot threats

By: Schalk Burger     26th May 2020 Cybersecurity multinational Trend Micro has warned businesses about emerging threats, such as Deepfake ransomware, artificial intelligence (AI) bots, access-as-a-service and targeted subscriber identity module- (SIM-) swapping. "A layered, risk-based response is vital for mitigating the risk... 

Festival of Motoring postponed to August 2021

By: Chanel de Bruyn     26th May 2020 Event organiser Messe Frankfurt South Africa is postponing its Festival of Motoring event to August 2021. The Festival of Motoring, presented by WesBank, is the largest automotive show on the African continent and the only national industry-supported event endorsed by the National Association of... 

BRPs granted leave to appeal interdict against retrenchments at SAA

By: Rebecca Campbell     26th May 2020 The Labour Court, sitting in Johannesburg, has granted the Business Rescue Practitioners (BRPs) for financially-beleaguered State-owned national flag carrier South African Airways (SAA) leave to appeal against the whole of a Labour Court judgment handed down on May 8. In that judgment, the court... 

Famous Brands grows full-year cash and profits

By: Marleny Arnoldi     26th May 2020 Food services franchisor Famous Brands managed to increase its cash generation, earnings a share and operating profit in the financial year ended February 29. CEO Darren Hele attributed the strong performance to the company continuing to commit resources to ensuring its offering has a strong... 

Famous Brands grows full-year cash and profits
Famous Brands CEO Darren Hele

Afrimat proposes Unicorn Capital buyout

By: Tasneem Bulbulia     26th May 2020 JSE-listed Afrimat has submitted a nonbinding expression of interest to acquire the remaining shares in Unicorn Capital Partners it does not already own. Afrimat is offering one new Afrimat share for every 280 Unicorn Capital shares held. 

SA schools make progress in getting ready to reopen on June 1 - education department

By: African News Agency      26th May 2020 South African schools are making progress in preparations to reopen on June 1 after shutting down due to the Covid-19 outbreak, although some have not yet received their safety material, the department of education said on Tuesday. In a statement, the department said the council of education... 

 SA schools make progress in getting ready to reopen on June 1 - education department
Basic Education Minister Angie Motshekga

Mondi appoints new CFO

By: Donna Slater     26th May 2020 Packaging and paper manufacturer Mondi has appointed Mike Powell as its new CFO and executive director with an effective date yet to be announced. Following a thorough recruitment process involving internal and external candidates, Powell was appointed to succeed Andrew King, who was appointed... 

Rand climbs to eight-week high versus the dollar

By: Reuters     26th May 2020 South Africa's rand raced to its highest in more than eight weeks against the U.S. dollar on Tuesday, as optimism about a global recovery from the COVID-19 pandemic boosted riskier assets, with investors looking past Sino-U.S. trade tensions. At 0605 GMT, the rand traded at 17.4700 per dollar,... 

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