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Latest News

Datatec’s underlying, headline earnings expected to swing back into the black

By: Natasha Odendaal     7th May 2019 The underlying earnings and headline earnings of information and communications technology firm Datatec are expected to swing into positive territory for the financial year ended February 28. In a trading statement issued to shareholders on Tuesday, the company reported anticipated underlying... 

Young South African radio astronomers shine with MeerKAT observation proposals

By: Rebecca Campbell     7th May 2019 The South African Radio Astronomy Observatory (Sarao) has announced that 38 South African-led astronomy projects will use the 64-dish MeerKAT radio telescope array. The leaders of these projects include postdoctoral researchers (“postdocs”) as well as senior professors, based at ten South African... 

Young South African radio astronomers shine with MeerKAT observation proposals
Photo by Sarao
Some of MeerKAT’s 64 dishes

BCI rises to 93.7 amid election campaigning

By: Marleny Arnoldi     7th May 2019 The South African Chamber of Commerce and Industry Business Confidence Index improved by 1.9 index points month-on-month to 93.7 in April. The latest figure is 2.3 index points below the 96 points measured in April 2018. Five of the thirteen subindices of the BCI improved on their March readings,... 

BCI rises to 93.7 amid election campaigning

Over 400 organisations, small businesses join class action against Eskom

By: News24Wire      7th May 2019 A law firm believes that its plans to launch a class action against Eskom over load-shedding are viable, despite a previous statement from the power utility that there are limited grounds for such a case to be successful. De Beer Attorneys in April called on businesses and organisations which... 

Over 400 organisations, small businesses join class action against Eskom

Vivo performs well in Q1 on the back of added Engen business

By: Marleny Arnoldi     7th May 2019 African fuel retailer Vivo Energy had a “strong start” to this year, with volumes for the first quarter having increased by 7% year-on-year to 2.4-billion litres. CEO Christian Chammas said in a statement on Tuesday that volume growth had resulted from good underlying growth in Vivo’s existing... 

Energy dept launches updated Wind Atlas for South Africa

By: Marleny Arnoldi     7th May 2019 Department of Energy (DoE) acting director-general has launched the Wind Atlas for South Africa (WASA) High-Resolution Wind Resource Map, which has expanded its coverage to all nine provinces of the  country.   Addressing delegates at a seminar in East London, the acting director-general... 

Energy dept launches updated Wind Atlas for South Africa

Agri SA launches court proceedings against granting of shale gas exploration rights

By: Simone Liedtke     7th May 2019 Agricultural organisation Agri SA has launched court proceedings in the Pretoria High Court against the granting of environmental authorisations and explorations rights for shale gas to Africa-focused oil and gas exploration and development company Rhino Oil and Gas. Although the authorized... 

Sand mining 'mafias' destroying environment, livelihoods – UN

By: Reuters     7th May 2019 Sand mining is eroding the world's river deltas and coastlines, damaging the environment and hurting livelihoods from Cambodia to Colombia, as government regulation fails to keep pace with rising demand, the United Nations warned on Tuesday. Global demand for sand and gravel, used extensively in... 

Abland, Tiber on schedule to complete Phase 1 of Sandton Gate development

By: Tasneem Bulbulia     7th May 2019 Abland and Tiber, joint developers of the Sandton Gate precinct, are on track to complete Phase 1 of the mixed-use development. The first phase will include 15 500 m² of commercial space, 13 000 m² of P-grade office space and a 2 500 m² Planet Fitness positioned on the piazza level of the building. 

Abland, Tiber on schedule to complete Phase 1 of Sandton Gate development
Rendering of Sandton Gate

Jeka Energy completes solar PV power plant for Air Products

By: Simone Liedtke     7th May 2019 Jeka Energy has completed the installation of a solar photovoltaic (PV) roof-mounted power plant for Air Products’ Kempton Park facility.   

AB InBev first quarter revenue rises 5.9%

By: African News Agency      7th May 2019 The world's largest brewer AB InBev said on Tuesday its revenue grew by 5.9% in the first quarter of 2019, driven by healthy volume growth, among other factors. The company said it expected to deliver strong revenue and growth in earnings before interest, taxes, depreciation, and amortization... 

AB InBev plans Asian IPO as brewer seeks to reduce debt

By: Bloomberg     7th May 2019 Anheuser-Busch InBev is weighing an initial public offering of its Asian unit as the world’s largest brewer jockeys for position in a massive consumer market where rivals are piling in via local alliances. The brewer on Tuesday confirmed that it might sell a minority stake in its Asia-Pacific... 

Anadarko accepts Occidental bid; Chevron may now respond

By: Bloomberg     7th May 2019 Anadarko Petroleum’s board has declared Occidental Petroleum’s sweetened $38-billion takeover “superior,” giving Chevron until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four years. The announcement by Anadarko, which had rebuffed several prior... 

Winemakers pleased with quality of 2019 vintage, despite record low harvest

By: Tasneem Bulbulia     7th May 2019 The 2019 South African wine grape harvest hit a record low, largely owing to the preceding drought and fluctuating weather conditions during the season; however, winemakers are positive about the quality of this year’s vintage, Vinpro said in a statement on Monday. Vinpro is a nonprofit company... 

Sandvik eyes listing of specialty steel business

By: Reuters     6th May 2019 Swedish engineering group Sandvik is considering listing its Materials Technology (SMT) business after announcing plans on Monday to separate it from the rest of the group. SMT, Sandvik's specialty steel business, has been seen as a spin-off candidate for many years, and has lagged far behind the... 

Redefine maintains sustained growth, value creation despite difficult local climate  

By: Tasneem Bulbulia     6th May 2019 JSE-listed Redefine Properties, which increased its distribution for the six months ended February 28 by 4% to 49.2c, maintained a strong platform for sustained growth and value creation despite ongoing economic and political uncertainty. The South Africa-based real estate investment trust holds... 

Redefine maintains sustained growth, value creation despite difficult local climate
Redefine CFO Leon Kok outlines the company’s performance for the period

Famous Brands’ earnings fall on impairments

By: Simone Liedtke     6th May 2019 JSE-listed franchiser Famous Brands on Monday said it was likely to report a basic loss a share of between 432c and 528c for the financial year ended February 28, compared with the earnings per share (EPS) of 22c reported for the prior financial year. This decrease in EPS was attributed to an... 

Gibela appoints Hector Danisa as new CEO

By: Irma Venter     6th May 2019 Rolling stock manufacturer Gibela has appointed Hector Danisa as its new CEO, with effect from May 1. Gibela is tasked with delivering 600 new passenger trains to the Passenger Rail Agency of South Africa in a R59-billion deal signed in 2014. Local content on the trains is to be 65% by volume. 

Gibela appoints Hector Danisa as new CEO
Hector Danisa

Nigeria stock exchange receives MTN listing application, regulator says

By: Reuters     6th May 2019 The Nigerian stock exchange has received South African telecoms firm MTN's listing application, the regulator said on Monday. Two people with knowledge of the matter disclosed the application last week, but the regulator did not confirm the registration until Monday. 

Nigeria stock exchange receives MTN listing application, regulator says

Late payments the ‘assassin of small businesses’, says SBI’s Swanepoel

By: Simone Liedtke     6th May 2019 Small businesses need predictable cash flow to gain traction, pay employees, market their products and services and invest in and grow their businesses, says Small Business Institute executive director Bernard Swanepoel. He adds that one of the surest ways to disrupt the growth of small... 

IEA says world cannot ‘press pause’ on renewables, as capacity growth stalls  

By: Terence Creamer     6th May 2019 The International Energy Agency has expressed concern over the “unexpected flattening” of renewable-energy capacity additions in 2018, which, at 180 GW, remained in line with additions recorded in 2017. It was the first time since 2001 that year-on-year additions of renewable energy failed to... 

IEA says world cannot ‘press pause’ on renewables, as capacity growth stalls

Cape Town's dam levels decline 0.3% 

By: African News Agency      6th May 2019 Dams that supply Cape Town have declined by 0.3 percent over the past week to 46.3 percent of storage capacity, the City of Cape Town announced on Monday. According to the City’s records, dams were at 20.8 percent of storage capacity at the same time last year, and at 22.4 percent of storage... 

 Cape Town's dam levels decline 0.3%

Busa calls on business community to allow employees to vote on May 8

By: Sane Dhlamini     6th May 2019 Business Unity South Africa on Monday urged all employers, including its members, to encourage workers to exercise their right to vote in the 2019 national election on May 8.  While political parties wrap up their campaign for the hotly contested sixth general elections since the dawn of... 

Busa calls on business community to allow employees to vote on May 8

groundWork opposing Minister’s plan to weaken air pollution standards

By: Simone Liedtke     6th May 2019 Environmental justice group groundWork, represented by the Centre for Environmental Rights, has launched High Court proceedings against Environmental Affairs Minister Nomvula Mokonyane and President Cyril Ramaphosa and is asking the court to set aside government’s plan to double the amount of... 

SABS hosts wind energy technical meeting

By: Simone Liedtke     6th May 2019 The South African Bureau of Standards (SABS) is hosting 40 international delegates of the International Electrotechnical Commission’s (IEC’s) technical committee 88 (TC 88) at the SABS’s plenary meeting on May 6 and 7. The IEC’s Renewable Energy Conformity Assessment will then meet on May 9 and... 

Boeing did not disclose 737 MAX alert issue to FAA for 13 months

By: Reuters     6th May 2019 Boeing did not tell US regulators for more than a year that it inadvertently made an alarm alerting pilots to a mismatch of flight data optional on the 737 MAX, instead of standard as on earlier 737s, but insisted on Sunday the missing display represented no safety risk The US planemaker has been... 

Total to buy Anadarko’s Africa assets for $8.8bn if Occidental bid succeeds 

By: Simone Liedtke     6th May 2019 French integrated oil and gas company Total has reached a binding agreement with Occidental Petroleum to acquire Anadarko’s assets in Africa for $8.8-billion in the event of the successful completion of Occidental’s takeover bid for Anadarko. The transaction hinges on Occidental entering into and... 

Total to buy Anadarko’s Africa assets for $8.8bn if Occidental bid succeeds

Massmart’s Hayward to step down as CEO

By: Simone Liedtke     6th May 2019 Massmart CEO Guy Hayward has informed the company of his intention to step down from his position before the end of this year. The timing of his exit is still to be confirmed as he and the board embark on the process of ensuring a seamless transition. 

Top oil buyers rue global chaos bringing back seller's market

By: Bloomberg     6th May 2019 The world’s biggest oil buyers are being forced to go on the defensive once again. US President Donald Trump’s sanctions on Iran and Venezuela, the Opec+ coalition’s output curbs, and disruptions from Nigeria to Libya are all handing crude sellers the upper hand in negotiations. With refiners in... 

Agri SA says concerned by Nersa’s reluctance to register small-scale embedded generator projects 

By: African News Agency      6th May 2019 Agricultural industry association Agri SA said on Monday it was concerned about what it called the National Energy Regulator of South Africa's (Nersa) reluctance to register small-scale embedded generator (SSEG) projects.  In a statement, Agri SA said its members had the potential to supply the... 

Libya's Haftar orders troops to fight harder during Ramadan

By: Reuters     6th May 2019 Eastern Libyan forces commander Khalifa Haftar urged his troops trying to take Tripoli to battle harder and teach their enemies an even bigger lesson, because the Muslim month of Ramadan that begins on Monday was a month of holy war. His comments came just hours after the United Nations called... 

South Sudan says agrees oil exploration deal with South Africa

By: Reuters     6th May 2019 South Sudan and South Africa will sign a production sharing agreement for an untapped exploration block in the East African country, whose production has been hampered by civil war, South Sudan's petroleum ministry said on Monday. The Exploration Production Sharing Agreement for Block B2 will be... 

SAA launches direct service to Guangzhou, China

By: Simone Liedtke     6th May 2019 State-owned airline South African Airways will start direct flights between Johannesburg and Guangzhou, China, on September 18. Giving customers access to the heart of China’s export-led manufacturing industries is another part of the airline’s strategy of enhancing its route network. 

SA agriculture sector coping with challenges – FNB economist

By: African News Agency      6th May 2019 South Africa's agricultural sector remains resilient, but needs to learn how to cope with challenges such as drought and policy uncertainty, First National Bank senior agricultural economist Paul Makube said on Monday. The industry has faced severe headwinds over the past few years, including... 

SA agriculture sector coping with challenges – FNB economist

Bharti is said to kick off IPO of $5bn Africa arm in May

By: Bloomberg     6th May 2019 Bharti Airtel, India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1-billion, people familiar with the matter said. Airtel Africa is planning to make a formal announcement about the London listing this... 

Eskom spent R47.4bn on diesel in the past ten years 

By: News24Wire      6th May 2019 Between 2009 and 2019, cash-strapped Eskom paid 48 suppliers R47.4-billion for diesel that was burnt to keep the lights on. In response to a Public Access to Information Act request, Eskom provided News24 with its diesel expenditure for the past ten years as well as the names of the suppliers it... 

ANC wants banks to be forced to fund South African coal mines  

By: Bloomberg     6th May 2019 South Africa’s banks should be forced to invest in new coal mines in the country, the ruling African National Congress’s head of economic transformation said. Nedbank Group and Standard Bank Group have said “they are not going to put money in coal any more,” Enoch Godongwana said in an interview... 

ANC wants banks to be forced to fund South African coal mines

South African private sector activity grows in April as electricity crunch eases – PMI 

By: Reuters     6th May 2019 Activity in South Africa's private sector grew in April, a survey showed on Monday, with easing electricity blackouts off-setting a slide in businesses selling prices as they continued to struggle with weak demand. IHS Markit's Purchasing Managers' Index jumped to 50.3 in April from 48.8 in... 

South African private sector activity grows in April as electricity crunch eases – PMI

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