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Latest News

Policy uncertainty persists in Q2, but there is potential for a turnaround 

By: Tasneem Bulbulia     2nd July 2019 The North West University Business School’s Policy Uncertainty Index decreased from 53.4 in the first quarter to 52.9 in the second quarter. NWU Business School economist Professor Raymond Parsons on Tuesday said policy uncertainty remained strongly elevated and had stayed in negative territory... 

Zambia, Zimbabwe to start building Batoka power plant next year

By: Reuters     2nd July 2019 Zambia and Zimbabwe will start building the 2 400 MW Batoka Gorge hydropower plant next year, a company jointly owned by the two governments said on Tuesday. The Batoka project involves construction of a dam, powerhouses, roads, transmission infrastructure and houses in both Zambia and Zimbabwe,... 

Safaricom names former CEO Joseph as interim replacement for Collymore

By: Reuters     2nd July 2019 Kenya's Safaricom named board member and former chief executive Michael Joseph as its interim CEO on Tuesday after the telecom firm's long-time head Bob Collymore died on Monday following a nearly two-year battle with cancer. Joseph, 73, a dual American and Kenyan national, who served as... 

Enel Green Power starts Garob wind farm construction

By: Marleny Arnoldi     2nd July 2019 Enel Green Power South Africa this week started construction on its 140 MW Garob wind farm, near Copperton, in the Northern Cape. This is the group’s fifth wind project in the country, operating as a renewable subsidiary for energy multinational Enel, and will cost around €200-million to build.  

Water department committed to transparency in Clanwilliam dam wall project

By: African News Agency      2nd July 2019 The department of water and sanitation has reiterated its commitment to transparency and to empowering the residents of the West Coast district municipality during the raising of the Clanwilliam dam wall. Officially launched last October, the project is one of the biggest government... 

Theft of R1m critical components derailed train in Ekurhuleni, says Metrorail

By: African News Agency      2nd July 2019 Metrorail Gauteng said on Tuesday that its preliminary investigation shows that the train derailment in Ekurhuleni was caused by theft of critical infrastructure components worth R1-million – namely the points rods, points machine and clamps. Train 0304 traveling from Springs en route to... 

Good news for Eskom – World Bank says South Africa will save it

By: Bloomberg     2nd July 2019 The risk of South Africa’s struggling state power utility going bust doesn’t appear to faze one of its biggest creditors – the World Bank. The Washington-based lender agreed to lend Eskom Holdings $4-billion almost a decade ago to boost its generation capacity and avoid a repetition of rolling... 

South African research needs to be better coordinated to achieve its potential

By: Rebecca Campbell     2nd July 2019 South African researchers need to be able to think both long-term and short-term when considering the issues facing the country, Department of Science and Technology (DST) Deputy Director General: Socioeconomic Partnerships Imraan Patel affirmed on Tuesday. He was addressing the DST/Academy of... 

4AX in search of new CEO

By: Marleny Arnoldi     2nd July 2019 South African exchange 4 Africa Exchange (4AX) has appointed credit marketplace RainFin CEO Sean Emery as its interim CEO, while outgoing CEO Fay Mukaddam finds a suitable successor as part of a six-month succession handover plan. Mukaddam will remain an active shareholder in 4AX and will... 

4AX in search of new CEO
Outgoing 4AX CEO Fay Mukaddam

Saice calls for effective infrastructure spend

By: Tasneem Bulbulia     2nd July 2019 The South African Institution of Civil Engineering (Saice) has welcomed President Cyril Ramaphosa’s announcement that the State has set aside R100-billion to start an infrastructure fund to be administered by the State-owned Development Bank of Southern Africa. During his June 20 State of the... 

Saice calls for effective infrastructure spend
Steven Kaplan

South Africa urged to start integrating carbon neutrality into revamped industrial strategy 

By: Terence Creamer     2nd July 2019 The United Nations Industrial Development Organisation (UNIDO) is urging South Africa to take proactive steps to begin integrating the concept of carbon neutrality into its revised industrial strategy, warning that a delay in doing so could undermine the future competitiveness of the country’s... 

South Africa urged to start integrating carbon neutrality into revamped industrial strategy
UNIDO energy and climate coordinator in South Africa Conrad Kassier

SAA welcomes Bezuidenhout back as Mango CEO

By: Tasneem Bulbulia     2nd July 2019 The board of South African Airways on Tuesday expressed its support for the appointment of Nico Bezuidenhout as CEO of its subsidiary, Mango Airlines, effective October 1. This appointment of a permanent CEO at Mango was a further step in stabilising leadership and strengthening the executive... 

SAA welcomes Bezuidenhout back as Mango CEO
Photo by Creamer Media
Nico Bezuidenhout

New online venture allows anyone to become a courier

By: Irma Venter     2nd July 2019 A new South African online platform allows anyone with a motorbike, car or truck to offer their own ad hoc courier service, from short trips across a city, to long haul deliveries. The web-based system is named Thutha, which means ‘move’ in isiZulu. 

New online venture allows anyone to become a courier
The Thutha website is mobile friendly, but the service is not available as an app

EOH sells 70% of Construction Computer Software to RIB Software

By: Schalk Burger     2nd July 2019 JSE-listed information technology company EOH has sold 70% of the shares of Construction Computer Software (CCS), held by subsidiary EOH Mthombo, to Frankfurt Stock Exchange-listed construction and building software company RIB Software for R444.39-million. EOH on Tuesday said the deal... 

New railway app allows commuters to travel today, pay tomorrow

By: Irma Venter     2nd July 2019 International rail companies are implementing numerous new, innovative ways for commuters to fund their journeys. One such method is a smart phone app, called Lezzgo, that operates under the get-on, get-off, pay-later principle – no travel card or ticket required. 

 New railway app allows commuters to travel today, pay tomorrow

AIH spreads its wings to the international market 

By: Irma Venter     2nd July 2019 Automotive Investment Holdings (AIH) is spreading its wings, with the firm officially venturing into the international market. AIH, a level two empowered company, is a well-known consulting and manufacturing entity within the South African and African automotive landscape. 

AIH spreads its wings to the international market
Corrie Kotzé, Dempsey Naidoo, Johan Cloete and Paulo Fernandes

Morocco hopes to attract $10bn in investment to new tech city

By: Reuters     2nd July 2019 Morocco hopes to attract investments worth $10 billion and create 100,000 jobs at a high-tech city near the northern city of Tangier, a local elected official said. Morocco-based BMCE Bank signed a memorandum of understanding in April with state-owned China Communications Construction Co (CCCC)... 

Demand for new cars remains weak, says Naamsa

By: African News Agency      1st July 2019 The National Association of Automobile Manufacturers of South Africa (Naamsa) said on Monday that underlying demand conditions for new vehicles in South Africa remain weak. This as the new vehicle sales declined year-on-year by 724 units, or 1.6%, into June 2019. The aggregate domestic sales for... 

Chubb ceases new coal-plant business to fight climate change

By: Bloomberg     1st July 2019 Chubb said it will stop underwriting the construction or operation of new coal-fired plants to fight climate change. The insurer will also stop underwriting or making new debt or equity investments in companies that derive more than 30% of their revenue from coal-mining or energy production from... 

ELB pours first concrete at Ngodwana biomass power project

By: Marleny Arnoldi     1st July 2019 ELB Engineering Services has successfully completed the first concrete pour at the 25 MW Ngodwana Energy biomass power project, in Mpumalanga. The first concrete pour was done for a section of the boiler building raft foundation and was about 300 m3. The boiler forms part of the power island... 

ELB pours first concrete at Ngodwana biomass power project
ELB starts civil works at Ngodwana biomass power project

Prasa sacks company secretary following investigation

By: News24Wire      1st July 2019 The Passenger Rail Agency of South Africa announced on Monday that it had dismissed its company secretary, Lindikaya Zide, following a series of investigations. Zide had been placed on special leave in March. The rail agency did not say what the charges were or what Zide had been found guilty of.  

 Prasa sacks company secretary following investigation

Growthpoint, Investec JV buys prime shopping centre in Ghana

By: Marleny Arnoldi     1st July 2019 Pan-African real estate investment trust (Reit) Growthpoint Investec African Properties (GIAP) on Monday concluded the acquisition of 97.5% in Achimota Retail Centre, a prime shopping centre in Accra, Ghana. The asset was acquired from AttAfrica, which is a joint venture (JV) between JSE-listed... 

Makhura promises revitalised plan for Gauteng by end August 

By: Natasha Odendaal     1st July 2019 Stimulating the economy is at the top of Gauteng Premier David Makhura’s agenda for the first 100 days of the sixth provincial administration. Outlining plans for South Africa’s most populous province in his State of the Province Address on Monday, he said a full plan, titled ‘Growing Gauteng... 

Makhura promises revitalised plan for Gauteng by end August
Photo by Creamer Media
David Makhura

'Gauteng government prepared to help settle e-toll debt' – Makhura 

By: African News Agency      1st July 2019 The Gauteng provincial government will do anything to have e-tolls scrapped, including footing the bill to pay billions of rands in debt owed by the South African National Roads Agency to lenders. Gauteng Premier David Makhura said his provincial government will not change its stance on e-tolls.... 

'Gauteng government prepared to help settle e-toll debt' – Makhura

CSG anticipates recovery in 2020 financial year

By: Marleny Arnoldi     1st July 2019 JSE-listed industrial contract services group CSG Holdings had a “satisfactory” first half, but a “disappointing” second half in the financial year ended March 31, owing to a challenging business environment and trading conditions. “This was aggravated by a few negative one-off events relating... 

Sappi becomes international stakeholder member of the PEFC

By: Tasneem Bulbulia     1st July 2019 JSE-listed paper and pulp producer Sappi has become an International Stakeholder member of the Programme for the Endorsement of Forest Certification (PEFC). This membership aligns with Sappi’s focus on sustainable forest management and responsible procurement throughout its supply and value chains. 

Makhura hands Lesufi a mammoth task at Gauteng SoPA

By: News24Wire      1st July 2019 Gauteng Premier David Makhura has ordered Education MEC Panyaza Lesufi to produce annual primary school results. Speaking at his State of the Province Address (SoPA) on Monday, Makhura said Lesufi was instructed to implement the national integrated assessment framework, which will ensure rigorous... 

Makhura hands Lesufi a mammoth task at Gauteng SoPA
Gauteng Education MEC Panyaza Lesufi

Manufacturing still under pressure despite rise in Absa PMI to 46.2 in June

By: Marleny Arnoldi     1st July 2019 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) increased to 46.2 points in June, compared with the 45.4 points recorded in May. Absa said the average level for the second quarter was 46.3 points, compared with an average of 47 in the first quarter of the year.  

Zimbabwe expects to pay $10m to Eskom by end of Monday

By: Reuters     1st July 2019 Zimbabwe's government expects to pay $10-million to South African state power firm Eskom by the end of Monday, Zimbabwean Finance Minister Mthuli Ncube said. Zimbabwe, which is grappling with severe power shortages, imports power from neighbouring South Africa. But Eskom cut back power exports to... 

Zimbabwe expects to pay $10m to Eskom by end of Monday

Gauteng government awaits lifestyle audits says Makhura

By: African News Agency      1st July 2019 MECs and officials in the Gauteng provincial government are ready for lifestyle audits, Premier David Makhura said in his state of the province address in Soweto on Monday. "We are awaiting the multi-disciplinary task team on life style audits being finalised by national government to be... 

 Gauteng government awaits lifestyle audits says Makhura
Gauteng Premier David Makhura

Western Cape local level strategy works, says Gauteng premier Makhura

By: African News Agency      1st July 2019 Gauteng Premier David Makhura on Monday said he preferred the Democratic Alliance-led Western Cape municipalities' processes of enforcing good performance and will ensure a pro-active and hands-on approach at local government in Gauteng. "The cautious approach is not working because things are... 

Western Cape local level strategy works, says Gauteng premier Makhura
Gauteng Premier David Makhura

CEO Collymore dies of cancer after steering Safaricom's expansion

By: Reuters     1st July 2019 Bob Collymore, the CE who helped to turn Safaricom into East Africa's most profitable company with an $11-billion valuation, has died after a nearly two-year long battle with cancer. Collymore, who took the top job with the Kenyan company in 2010, oversaw an increase of nearly 500% in its share... 

As tax season kicks off, here's what you need to know

By: News24Wire      1st July 2019 Tax season 2019 officially started on Monday July 1 for South African taxpayers who use Filing and the South African Revenue Service MobiApp, Sars said on Monday morning.  The revenue collection agency also announced it had implemented enhancements and changes for the season. Taxpayers who use... 

 As tax season kicks off, here's what you need to know

SAA is leasing new-generation wide-body airliners 

By: Rebecca Campbell     1st July 2019 State-owned national flag carrier South African Airways (SAA) announced on Sunday that it had leased latest-generation Airbus A350-900 aircraft to operate its Johannesburg-New York route. The new, twin-engined, aircraft will replace the four-engined older generation Airbus A340-600 airliners... 

SAA is leasing new-generation wide-body airliners
Photo by Airbus
An Airbus A350-900 in the livery of China Southern Airlines

Iron-ore drives Australian resource export earnings to a record A$275bn

By: Esmarie Iannucci     1st July 2019 Higher iron-ore prices have helped to drive Australia’s resource export earnings to a record A$275-billion in the 2018/19 financial year, with export earnings expected to hit A$285-billion in 2019/20, data from the latest Resources and Energy Quarterly shows. Chief economist Mark Cully on Monday... 

Iron-ore drives Australian resource export earnings to a record A$275bn

Fourth Medupi unit reaches commercial operation

By: Nadine James     1st July 2019 State-owned power utility Eskom has announced that Unit 3 at its Medupi power station has attained commercial operation, which ensures technical compliance to statutory, safety and legal requirements. Unit 3 is the fourth Medupi unit to reach commercial operation, with Units 6, 5 and 4 already... 

Google to build Europe–Africa subsea cable

By: Natasha Odendaal     1st July 2019 Google’s third private subsea cable, Equiano, will connect South Africa to Portugal, branching out across the west coast of Africa. Named for Nigerian-born writer and abolitionist who was enslaved as a boy, Olaudah Equiano, the Europe-to-Africa cable is Google’s fourteenth subsea investment... 

Gautrain looks at expanding non-fare revenue with Centurion pilot project 

By: Irma Venter     1st July 2019 While “doing okay” in terms of non-fare revenue from advertising, the “one big trick” the Gautrain system has missed out on has been to participate in the rise in property value around Gautrain stations, says Gautrain Management Agency (GMA) COO William Dachs. Since the establishment of the... 

 Gautrain looks at expanding non-fare revenue with Centurion pilot project
Photo by Dylan Slater
Centurion station
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