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Latest News

African impact investment solution launched

By: Schalk Burger     19th February 2021 Sub-Saharan Africa fund manager African Alliance Asset Management and social investment manager Tshikululu Social Investments have launched an impact investment offering for Africa called Thrive Africa for global investors. Impact investments are defined as investments that are designed to... 

Ocean energy fund expected to boost sector

By: Donna Slater     19th February 2021 Ocean energy professional network Ocean Energy Europe (OEE) has appointed risk and insurance consultancy Renewable Risk Advisers to carry out the design of a brand new European and European Union-funded insurance fund for the ocean energy sector as part of the OceanSET project. The project is... 

Seifsa to host inaugural Brics Manufacturing Conference in March

By: Marleny Arnoldi     19th February 2021 The inaugural Brazil, Russia, India, China and South Africa (Brics) Manufacturing Conference will take place in Sandton, on March 26. The event was initially scheduled to take place last year before Covid-19 brought about restrictions.  

Bidcorp warns of up to 48% fall in headline earnings, but expects quick rebound

By: Schalk Burger     19th February 2021 JSE-listed food services multinational Bidcorp has warned shareholders that it expects to report a 43% to 48% year-on-year decrease in headline earnings per share (HEPS) for the six months ended December 31, 2020. HEPS from continuing operations are expected to decrease to between 378.7c and 415.1c. 

CSIR, Colombia 4IR centre team up on AI and IoT

By: Schalk Burger     19th February 2021 Industrial research organisation the Council for Scientific and Industrial Research (CSIR) on February 19 announced that it has partnered with the Centre for the Fourth Industrial Revolution (C4IR) of Colombia operator Corporación Ruta N Medellin (C4IR.CO) to unlock the potential of artificial... 

Agri SA warns 4 000 jobs are at stake this year as a result of minimum wage increase 

By: Marleny Arnoldi     19th February 2021 After surveying 577 participants among member companies, industry association Agri SA has found that a potential 4 384 jobs could potentially be lost in 2021/22 as a result of the increase in the national minimum wage for farmworkers. Agri SA reports that 549 of the 577 participants will exceed... 

Massmart says Covid-19 restrictions cost it R6bn in sales during 2020

By: Tasneem Bulbulia     19th February 2021 JSE-listed Massmart has recorded a 7.7% decrease in sales to R86.5-billion for 2020. Sales in the fourth quarter had contracted by 4.1% year-on-year, as a result of softer sales over the Black Friday period, in addition to lower foot traffic, especially in regional malls. 

Denel is in a deep crisis, parliamentary committee told 

By: Rebecca Campbell     19th February 2021 Parliament’s Select Committee on Public Enterprises and Communication has been briefed by Public Enterprises Deputy Minister Phumulo Masualle and Denel acting CEO Talib Sadik about the State-owned defence industrial group’s financial and legal problems. They told the parliamentarians that Denel... 

NPC outlines the National Water Security Framework   

By: Natasha Odendaal     19th February 2021 The National Planning Commission’s (NPC’s) National Water Security Framework (NWSF) covers what is required to holistically protect South Africa’s scarce water resources, however, the country is weak in implementation. NPC commissioner Dr Pulane Molokwane, discussing the plan during a stakeholder... 

NPC outlines the National Water Security Framework
NPC commissioner Dr Pulane Molokwane discusses the National Planning Commission’s National Water Security Framework, which covers what is required to holistically protect South Africa’s scarce water resources. Date recorded 19.02.2021. Video recording: Kutlwano Matlala. Video editing: Nicholas Boyd.

Perseverance gets Nasa to Mars again

By: Rebecca Campbell     19th February 2021 Late on Thursday night, South African time, the US National Aeronautics and Space Administration’s (Nasa’s) latest Mars rover, Perseverance, successfully landed on the Red Planet. It touched down, as planned, in the 45 km-wide Jezero Crater, which lies on the western edge of a giant impact basin... 

Perseverance gets Nasa to Mars again
Photo by JPL
Photo taken in Perseverance mission control at Nasa JPL shortly after the rover landed on Mars, with the first images it transmitted from the Red Planet displayed on the large viewscreen

Budget must focus on lowering unemployment, debt, says NetVest CEO 

By: Tasneem Bulbulia     19th February 2021 This year’s Budget, set to be presented by Finance Minister Tito Mboweni on February 24, must focus on reducing unemployment in the country and addressing the country’s debt-to-gross-domestic-product (GDP) ratio, investment advisory NetVest Group of Companies CEO Busisiwe Mdletshe told... 

Budget must focus on lowering unemployment, debt, says NetVest CEO
Busisiwe Mdletshe

WeBuyCars kicks off the new year with record trading month 

By: Irma Venter     19th February 2021 WeBuyCars kicked off the new year with record trading numbers, with January sales up 10% on the same period last year, says CEO Faan van der Walt. The used-car trader says there has been a strong recovery in domestic used-vehicle sales, despite the prevailing economic climate, as can be seen by... 

WeBuyCars kicks off the new year with record trading month

Volvo Trucks launches four new ranges in local market 

By: Irma Venter     19th February 2021 Volvo Trucks South Africa has introduced four new truck ranges to the local market, with a strong focus on the driver environment, safety and productivity.   The launch of the four new-generation extra-heavy commercial trucks - the Volvo FH, FH16, FM and FMX - is the biggest in the company’s... 

Volvo Trucks launches four new ranges in local market

Business gears up to support mass-vaccination campaign despite variant setback 

By: Donna Slater     19th February 2021 While government’s belated, yet accelerating, efforts to secure enough doses of an effective Covid-19 vaccine to begin a phased mass vaccination roll-out gathers momentum, several business organisations are finalising their plans to support the endeavour – one that is seen as crucial for creating... 

Business gears up to support mass-vaccination campaign despite variant setback

Having gold in your portfolio is a very solid insurance right now – Bristow 

By: Martin Creamer     18th February 2021 Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash... 

Having gold in your portfolio is a very solid insurance right now – Bristow
Barrick Gold president and CE Dr Mark Bristow

Coal demand from Eskom to normalise, says South32

By: Tasneem Bulbulia     18th February 2021 Coal demand from State-owned power utility Eskom is expected to normalise, following low demand over the past few months, diversified miner South32 COO Mike Fraser said during a media call to discuss its interim results, on February 18. He said the maintenance work being undertaken by should... 

Home Affairs publishes draft new critical skills list, aimed at attracting foreigners

By: News24Wire      18th February 2021 On Thursday, South Africa finally released a proposed new list of critical skills that can make it easier for foreigners in certain jobs to work here. Those who meet the requirements on the list can get easier access to a visa to work and live in South Africa. 

IBM commits to net zero greenhouse-gas emissions by 2030

By: Schalk Burger     18th February 2021 Information technology multinational IBM has committed to achieving net-zero greenhouse-gas (GHG) emissions by 2030, and aims to procure 75% of its electricity needs from renewable sources by 2025 and 90% by 2030. The company aims to reduce its GHG emissions by 65% by 2025 against the baseline... 

Airbus reports that last year was a tough year for its commercial jet business

By: Rebecca Campbell     18th February 2021 Europe-based global major aerospace group Airbus last year delivered nearly 300 fewer commercial aircraft than the year before, it reported in its 2020 full-year results report, released on Thursday. During 2020 the group delivered a total of 566 commercial airliners, as against 863 in 2019. Last... 

Spectrum licensing may be slower than hoped - Webber Wentzel 

By: Schalk Burger     18th February 2021 The release of radio frequency spectrum for various telecommunications, industrial and commercial uses may take longer than hoped for, given the challenges to ensure equitable access and to enable digital transformation and growth in the economy, says law firm Webber Wentzel senior associate Karl... 

Spectrum licensing may be slower than hoped - Webber Wentzel
Webber Wentzel senior associate Karl Blom briefly summarises key aspects of radio frequency spectrum licensing in South Africa. Video editing: Darlene Creamer.

A 'more conducive business environment’ needed for South Africa to recover – report

By: Simone Liedtke     18th February 2021 With the largest number of jobs created in 2021’s economic recovery expected to come from the private sector, President Cyril Ramaphosa has said that government will need to continue working with the private sector to create “a more conducive business environment” as an enabler of job creation.... 

Transnet adjusts infrastructure strategy to deal with damaging weather conditions

By: Donna Slater     18th February 2021 State-owned Transnet is investigating methods to deal with unpredictable and severe weather patterns, which have negatively affected the railway network during and after cyclone Eloise hit Southern Africa in late January, resulting in heavy rainfall across South Africa. Transnet Freight Rail... 

Transnet adjusts infrastructure strategy to deal with damaging weather conditions
The results of a recent wash-away incident

Shoprite expands solar PV project; 19 sites outfitted

By: Donna Slater     18th February 2021 Fast-moving consumer goods company the Shoprite Group has expanded its solar photovoltaic (PV) programme, with 19 of its sites in South Africa and Namibia now boasting rooftop PV installations. There are now 18 Shoprite Group stores throughout South Africa and Namibia that use solar power,... 

Shoprite expands solar PV project; 19 sites outfitted
Shoprite's Basson distribution centre in Brackenfell

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility  

By: Martin Creamer     18th February 2021 Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen... 

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility
Sibanye-Stillwater results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Aveng to open rights offer on March 1, says to post an interim profit

By: Marleny Arnoldi     18th February 2021 JSE-listed construction group Aveng has announced that has finalised all conditions to raise R300-million by way of a rights offer, with the opening scheduled for March 1 and closing on March 12. The company aims to restructure its balance sheet, deleveraging it by R1-billion, which will extend... 

Aveng to open rights offer on March 1, says to post an interim profit

Company ventures into land restoration beyond mining research

By: Marleny Arnoldi     18th February 2021 Private company Inzuvect, trading as LNR Forest Estate, has partnered with forestry expert Merensky Timber to research ecosystem restoration on mining properties. LNR will, from the first week of March and over the next decade research and, in due course, implement solutions to ensure... 

OneLogix in good health despite Covid-19, says Lourens 

By: Irma Venter     18th February 2021 OneLogix CEO Ian Lourens says that all of the niche logistics provider’s 12 companies “remain in good health”, despite the impact of the Covid-19 pandemic. The group reported a 16% drop in revenue, to R1.22-billion, for the six months ended November 30, compared with the same period in 2019.... 

OneLogix in good health despite Covid-19, says Lourens

Sisulu reiterates government’s commitment to universal access to water

By: Natasha Odendaal     18th February 2021 Human Settlements, Water and Sanitation Minister Lindiwe Sisulu has reiterated the commitment of the Department of Water and Sanitation (DWS) to provide water for all. While the sustainable provision of water to everyone is still a challenge facing South Africa and “huge” disparities remain, she... 

Rolls-Royce signs engine support agreement with Uganda Airlines

By: Rebecca Campbell     18th February 2021 UK-based global major industrial technology group Rolls-Royce and Uganda Airlines have signed a TotalCare service agreement for the Trent 7000 engines that power the Ugandan flag carrier’s new Airbus A330neo widebody airliners. (The suffix -neo stands for new engine option.) Uganda Airlines has... 

Rolls-Royce signs engine support agreement with Uganda Airlines
Photo by Airbus
A Trent 7000 engine, with nacelle removed, on the wing of an A330neo

Union blasts Denel directors after worker suicides: still no game plan for recovery 

By: Rebecca Campbell     18th February 2021 Trade union Uasa has reacted strongly to two reported suicides by Denel workers earlier this week. The union described the news as “distressing and heart-wrenching”. It accused the State-owned defence industrial group of “simply looking on” while its unpaid or underpaid employees struggled to pay... 

'Post-pandemic recovery plans must focus on growth aligned with sustainable agendas', says Creecy

By: Simone Liedtke     18th February 2021 As climate change is one of the new global realities, Environment, Forestry and Fisheries Minister Barbara Creecy has averred that “post-pandemic recovery plans must focus on growth aligned with sustainable agendas”. South Africa is in need of a better understanding of the climate transition risk... 

TIPS encourages South Africa to leverage just transition imperatives already in place

By: Marleny Arnoldi     18th February 2021 According to Trade and Industrial Policy Strategies (TIPS), South Africa is in a position where it has a multitude of policies, processes and interventions that could be leveraged towards affecting a just transition to a green economy. During a development dialogue webinar hosted by the... 

AfDB grants Morocco energy company $965 000 for renewables transition

By: Donna Slater     18th February 2021 The African Development Bank’s (AfDB’s) Sustainable Energy Fund for Africa (Sefa) is providing a $965 000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first “super energy service company (Esco)” initiative in Africa. Sefa is an AfDB-managed... 

Afreximbank, AAAM sign MoU on Africa auto industry financing 

By: Irma Venter     18th February 2021 The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a memorandum of understanding (MoU) for the financing and promotion of the automotive industry in Africa. “The strategic partnership with AAAM will facilitate the... 

Afreximbank, AAAM sign MoU on Africa auto industry financing

Is South Africa entering the age of business rescue?

By: News24Wire      18th February 2021 Even before the coronavirus pandemic broke out, arguably the most prominent business rescue in the country had already made headlines: that of South African Airways (SAA), which after more than a year is still not finalised. More recently, Ster-Kinekor became the latest high-profile company to... 

AMSA confirms death of three employees after Vanderbijlpark Works stack collapse

By: Tasneem Bulbulia     18th February 2021 Steel company ArcelorMittal South Africa (AMSA) has confirmed that the bodies of three missing employees have been recovered, with all three having succumbed to injuries sustained in an incident at the company’s Vanderbijlpark Works on the morning of February 17. The incident entailed a portion... 

AMSA confirms death of three employees after Vanderbijlpark Works stack collapse
Photo by Creamer Media
Vanderbijlpark Works

DMRE says emergency-power deviation notice will not trigger legal challenge 

18th February 2021 On February 12, Trade, Industry and Competition Minister Ebrahim Patel published a Gazette notice granting the Department of Mineral Resources and Energy (DMRE) permission to deviate from the relevant Broad-Based Black Economic Empowerment code of good practice for the Risk Mitigation Independent... 

DMRE says emergency-power deviation notice will not trigger legal challenge

Sibanye-Stillwater profit soars, free cash rockets, R9.4bn dividend 

By: Martin Creamer     18th February 2021 The free cash flow of precious metals company Sibanye-Stillwater rocketed 63-fold to within a hair’s breadth of R20-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, reported a sky-high profit rise to R29.3-billion for... 

Sibanye-Stillwater profit soars, free cash rockets, R9.4bn dividend
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman.
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