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Latest News

Aveng's shares rise on recapitalisation, restructuring progress

By: Creamer Media Reporter      25th November 2020 Infrastructure and resources company Aveng's share price on the JSE rose by 50% on Wednesday, after it announced that it was making progress with its balance sheet restructuring and recapitalisation plans and that it expected to report improved financial results for the financial year ended June... 

McAfee reports increase in cyberattacks amid Covid-19 lockdowns

By: Schalk Burger     25th November 2020 Cybersecurity multinational McAfee's 'Quarterly Threats' report shows that there were nearly 7.5-million external attacks on cloud user accounts during the second quarter of this year across all major industries globally, including financial services, healthcare, public sector, education, retail,... 

New Castle Gate lifestyle centre opening its doors in Pretoria

By: Simone Liedtke     25th November 2020 The first phase of the new multibillion-rand Castle Gate mixed-use precinct development in Pretoria will open its doors to the public on November 26. Home to some of the latest store concepts for the likes of Woolworths, Checkers, Dis-Chem and Builders Warehouse, Castle Gate was built with the... 

New Castle Gate lifestyle centre opening its doors in Pretoria
Photo by Simone Liedtke
The new Castle Gate lifestyle centre

Arrowhead records solid full-year performance

By: Tasneem Bulbulia     25th November 2020 Diversified South African real estate investment trust Arrowhead Properties says it performed ahead of expectations in a tough economic environment during the financial year ended September 30. At period end, Arrowhead directly owned 143 commercial properties in South Africa (split 50% retail,... 

Fund helps South African universities unlock benefits of homegrown IP 

By: Donna Slater     25th November 2020 Since its inception in February, the University Technology Fund (UTF) has approved six investments. Technology and innovation incubated in South Africa’s universities is, as a result, being commercialised and a step closer to commercialisation, creating significant economic, investment and job... 

Fund helps South African universities unlock benefits of homegrown IP
SA SME Fund CEO Ketso Gordhan

Cabinet approves two measures to address country’s threatened biodiversity

By: Tasneem Bulbulia     25th November 2020 Two measures have been approved by Cabinet to assist in addressing threats to the country’s biodiversity. During a virtual Cabinet meeting on November 18, the updated National Protected Areas Expansion Strategy and the revised National Biodiversity Framework (NBF) were approved. 

Nersa to host public hearing on Gold Fields' South Deep solar plant application 

By: Marleny Arnoldi     25th November 2020 NYSE- and JSE-listed Gold Fields’ South Deep mining operation has lodged an application with the National Energy Regulator of South Africa (Nersa) for an electricity generation licence for a proposed 40 MW solar photovoltaic plant at the mine, in Westonaria. Nersa has advised that a public... 

Nersa to host public hearing on Gold Fields' South Deep solar plant application
South Deep mine

FairPlay teams up with trade unions to launch ‘buy local chicken’ campaign

By: Marleny Arnoldi     25th November 2020 Nonprofit trade movement FairPlay, together with localisation organisation Proudly South African and trade unions, have launched a campaign to promote the consumption of local chicken. The “Buy Local Chicken” campaign is aimed at retailers and wholesalers that buy significant quantities of... 

FairPlay teams up with trade unions to launch ‘buy local chicken’ campaign

Kwikspace appoints Steinberg CEO, FD

By: Tasneem Bulbulia     25th November 2020 Modular buildings manufacturer Kwikspace has announced the permanent appointment of its new CEO and FD, Dirk Steinberg. Having joined the company in 2014 as FD and executive officer, Steinberg has a wealth of business experience, the company says. 

Stable dam levels boost the Integrated Vaal River System

By: Natasha Odendaal     25th November 2020 The aggregate water levels of the Integrated Vaal River System (IVRS) continue to climb as the critical dams feeding it remain stable. The IVRS increased to 57.1% this week, up from the 56.8% recorded in the comparative week last year. 

Only an uptick in building, manufacturing activity can sustain this quarter’s higher BCI  

By: Marleny Arnoldi     25th November 2020 The Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) has notched up to 40 in the fourth quarter, from 24 in the third quarter. However, the BER questions the sustainability of maintaining business confidence at this level.  

CIDB acts on conviction that creation of construction jobs is at centre of economic recovery

By: Donna Slater     25th November 2020 In a sector hit hard by job losses and a general lack of work, initiatives in the construction industry designed to support the growth, and survival, of emerging contractors, should attract greater public attention and draw the support from established companies in the construction industry,... 

Etion H1 earnings contract

By: Creamer Media Reporter      25th November 2020 JSE-listed Etion reported a decline in net profit to R4.9-million for the six months ended September 30, 2020, from R5.4-million reported in the corresponding six months last year. The group’s profit before tax increased by 45% from R5.4-million in the first half of 2019 to R7.9-million during... 

Iata predicts that hard times for airlines will continue next year, except for cargo operators

By: Rebecca Campbell     25th November 2020 The International Air Transport Association (Iata), the representative body for the global airline industry, has forecast that the sector will continue to suffer deep losses next year, although much less than the losses that will be experienced this year. The first half of next year is expected... 

Iata predicts that hard times for airlines will continue next year, except for cargo operators
Photo by Iata
Iata CEO Alexandre de Juniac

Greencape highlights importance of green SMMEs in economic recovery

By: Marleny Arnoldi     25th November 2020 Green economy organisation Greencape is drafting policy recommendations around development and support for green small, medium-sized and microenterprises (SMMEs), which is being informed by a support programme the company launched with help from the European Union (EU). Greencape had earmarked... 

Anglo praised for blazing decarbonised mining trail with hydrogen truck project  

By: Martin Creamer     25th November 2020 The electrolyser that will generate renewable hydrogen for the world’s largest hydrogen fuel cell electric vehicle project has been delivered to site by Nel Hydrogen Electrolyser AS, as part of the joint partnership with ENGIE and Anglo American, announced last year. ENGIE is providing the... 

Anglo praised for blazing decarbonised mining trail with hydrogen truck project
Nel Hydrogen Electrolyser Senior Vice President Business Development David Bow interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Saice launches career growth platform for engineers

By: Donna Slater     25th November 2020 The South African Institution of Civil Engineering (Saice) has launched an innovative new platform – Saice Connect – that enables its members to network and engage with potential employers and like-minded individuals. The platform is designed to bridge the gap between skills shortages in many... 

Volkswagen celebrates assembly of four-million vehicles at Uitenhage

By: Irma Venter     25th November 2020 Volkswagen Group South Africa (VWSA) has celebrated the assembly of its four-millionth vehicle at its Uitenhage plant, in the Eastern Cape. The first of these vehicles was manufactured 72 years ago, in November 1948, when the premises still belonged to South African Motor Assemblers and... 

Volkswagen celebrates assembly of four-million vehicles at Uitenhage

South Africa could sell shares in restructured national airline 

By: Bloomberg     25th November 2020 South Africa could offer to sell shares in the bankrupt national airline to the public as part of an ambitious new plan to revive the carrier outlined by Finance Minister Tito Mboweni. The government could bring the various parts of the South African Airways group into one company that would be... 

South Africa could sell shares in restructured national airline

Global steel output up 7% y/y in October as industry recovers

By: Reuters     25th November 2020 Global crude steel production in October rose 7% year on year to 162-million tonnes as other countries joined China in a recovery in industrial activity. China, the world's biggest producer and consumer of the metal, remained the stand-out performer with a gain of 12.7% to 92.2-million tonnes,... 

Global workforce to reach highest level of risk in 2021 – International SOS 

By: Simone Liedtke     25th November 2020 The risk to the global workforce has reached its highest level since 2016, according to the findings of International SOS's 'Risk Outlook 2021' report. The outlook reveals findings from the Business Resilience Trends survey of over 1 400 risk professionals across 99 countries, carried out by... 

Global workforce to reach highest level of risk in 2021 – International SOS
International SOS security director for intelligence and operations James Bird discusses the findings of the Risk Outlook 2021 report. Video editing: Darlene Creamer.

Surging Covid-linked borrowing costs pose threat to Africa’s energy transition

By: Terence Creamer     24th November 2020 The surge in borrowing costs affecting most African countries in the wake of the economic and fiscal harm that has accompanied the Covid-19 pandemic poses a serious risk to the much-needed recovery in energy investment across the continent, which is set to collapse by 30% in 2020. International... 

Surging Covid-linked borrowing costs pose threat to Africa’s energy transition
IEA executive director Dr Fatih Birol

Growthpoint invests further in Woodmead

By: Tasneem Bulbulia     24th November 2020 JSE-listed real estate group Growthpoint Properties says it is attracting new business to Woodmead, Sandton, with its significant R290-million investment programme that improves public infrastructure and the company’s strategic assets in the area. Growthpoint owns and operates about 250 000 m2 of... 

African green hydrogen can provide important economic impetus – BMBF 

By: Martin Creamer     24th November 2020 The establishment of an African hydrogen economy based on renewable energy can provide important impetus in the Southern African region and offer new perspectives, especially to young people. That is the view of German Federal Ministry of Education and Research (BMBF) Energy and Green Hydrogen... 

African green hydrogen can provide important economic impetus – BMBF
Federal Research Minister Anja Karliczek and Innovation Commissioner ‘Green Hydrogen‘ Dr Stefan Kaufmann: Small bottle, huge effect. Sufficient energy to supply a refrigerator for a day – 48 litres of hydrogen are bound in this 80 ml liquid, referred to as liquid organic hydrogen carrier or LOHC. Dr Kaufmann was in South Africa earlier this month. © BMBF/Hans-Joachim Rickel

Western Cape launches Municipal Energy Resilience project

By: Donna Slater     24th November 2020 The Western Cape government has launched its three-year Municipal Energy Resilience (MER) project to assist municipalities to take advantage of the new energy regulations, which may include buying energy directly from independent power producers (IPPs). 

South African UAV industry body seeks to be able to influence government

By: Rebecca Campbell     24th November 2020 Although South Africa was, only a few years ago, the leader in Africa in the development, deployment and operation of uncrewed aerial vehicles (UAVs, also known as remotely-piloted aircraft systems or RPAS, or more simply called drones), a number of African countries had since overtaken it in... 

Eskom’s turnaround strategy to bear first fruit in April 2021 

By: Donna Slater     24th November 2020 Eskom CEO André de Ruyter says progress is being made in the unbundling of the utility and that “by April [2021], we should see a change”. He noted that the negative impact of load-shedding on the economy is well known and it is something that Eskom wishes to put behind it as quickly as possible.  

Nedbank provides financing options for solar power

By: Tasneem Bulbulia     24th November 2020 Banking institution Nedbank is exploring financing options for solar photovoltaic (PV) installation for homeowners and has implemented several options for businesses wanting to install solar PV plants. Nedbank Home Loans strategy head Bruno Cing’andu noted during a November 24 webinar, hosted by... 

A ‘just transition’ is complicated – panel

By: Marleny Arnoldi     24th November 2020 As South Africa emerges from the Covid-19-induced economic crisis, the most strategic objective would be to relieve the economy and its growth path from the stronghold of insufficient access to sustainable and competitive power generation, advisory Pan-African Investment and Research Services... 

Cloud-based vaccine management system launched in Africa

By: Sane Dhlamini     24th November 2020 IT giant Oracle and the Tony Blair Institute announced on Tuesday the launch of the cloud-based Oracle Health Management System, which will help African countries manage large-scale vaccination programmes. Ghana, Rwanda and Sierra Leone are the initial users of the system, which will create... 

Cloud-based vaccine management system launched in Africa

De Ruyter calls for upscaling of power procurement plans as he questions whether coal IPP will proceed 

By: Terence Creamer     24th November 2020 Eskom CEO Andre de Ruyter has again called on government to open the way for the procurement of more new electricity capacity in addition to the 11 800 MW outlined in a recently gazetted Ministerial determination, cautioning that the 1 500 MW of new coal included in the determination is unlikely... 

De Ruyter calls for upscaling of power procurement plans as he questions whether coal IPP will proceed
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Higher public debt threatens South Africa's financial system, SARB says 

By: Reuters     24th November 2020 A massive increase in projected government debt poses a "major threat" to financial stability in South Africa, the central bank warned on Tuesday, while problem mortgages were also a risk. South Africa's government debt is now set to hit 82% of gross domestic product this year as the Treasury... 

Omnia firmly in ‘fix and renew’ phase following September interim period 

By: Simone Liedtke     24th November 2020 JSE-listed diversified chemicals group Omnia Holdings is now firmly in the "fix and renew" phase of its turnaround strategy, where implementation of the new operating model during the six months, ended September 30, was “substantially completed” and has already resulted in improved production... 

Omnia firmly in ‘fix and renew’ phase following September interim period
Omnia CEO Seelan Gobalsamy discusses the group's interim performance. Editing: Darlene Creamer.

RFA pleads for govt intervention amid 'war' on trucks

By: Marleny Arnoldi     24th November 2020 The Road Freight Association (RFA) has expressed its dismay at government failing to act against attacks on truckers that started flaring up again earlier in November. Attacks on trucks first started becoming prevalent in March 2018, but, most recently, petrol bombs were thrown at five trucks... 

Sasol subsidiary to sell stake in Texas business for $404m

By: Tasneem Bulbulia     24th November 2020 Sasol Chemicals North America (SCNA), a wholly owned subsidiary of JSE-listed Sasol, has agreed principle terms with INEOS Gemini HDPE Holding Company and a new entity (Newco) to be formed by INEOS to sell its 50% membership interest in Gemini HDPE to Newco for $404-million. Gemini, based in La... 

New sea-level monitoring satellite successfully launched

By: Rebecca Campbell     23rd November 2020 The European Space Agency’s (ESA’s) sea-level monitoring Sentinel-6 satellite was successfully placed in orbit over the weekend, after being launched from Vandenberg Air Force Base in the US State of California on one of SpaceX’s Falcon 9 rockets. The Sentinel-6 has, unusually for a satellite, a... 

New sea-level monitoring satellite successfully launched

Sisulu hands over KZN bulk water supply scheme

By: Yvonne Silaule     23rd November 2020 Human Settlements, Water and Sanitation Minister Lindiwe Sisulu, on Sunday, launched the uMshwathi Regional Bulk Water Supply Scheme, set to service more than 3 000 households in the areas of Albert Falls, Mpolweni, Nadi, Cool Air, Efaye, Kwazibusele, Ntanzi, Mtulwa and Mount Elias. The scheme is... 

Sisulu hands over KZN bulk water supply scheme
Human Settlements, Water and Sanitation Minister Lindiwe Sisulu

UN leveraging new technology for peacekeeping missions

By: Tasneem Bulbulia     23rd November 2020 The UN is introducing new technologies to assist in its peacekeeping operations, says UN Support Office in Somalia supply chain management service chief Herbert Pechek. Some of the elements of the UN’s programme are arms control, cease fire monitoring, elections, enforcement and combat, public... 

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