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Latest News

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

Egypt expects giant solar park to be fully operational in 2019

By: Reuters     6th May 2019 Egypt expects the 1.6 GW solar park it is building in the south of the country to be operating at full capacity in 2019, the investment ministry said in a statement on Sunday. The $2-billion project, set to be the world's largest solar installation, has been partly funded by the World Bank, which... 

Economy may have shrunk in first quarter – NKC African Economics

By: News24Wire      6th May 2019 South Africa's economy may have contracted in the first quarter of the year, according to a report by NKC African Economics. The economy fell into a technical recession in 2018, before gaining pace in the second half of the year. According to NKC African Economics, a provider of economic... 

Economy may have shrunk in first quarter – NKC African Economics

Takealot launches nationwide Pickup Points, flagship Midrand facility

By: Tasneem Bulbulia     3rd May 2019 South African online retailer takealot.com has launched more than 25 Takealot Pickup Point collection facilities across the country, with the flagship facility at the New Road offramp, in Midrand, officially unveiled on Friday. The facilities are used for the pickup of both Takealot and... 

Takealot launches nationwide Pickup Points, flagship Midrand facility
Inside the Takealot Pickup Point at the New Road off-ramp in Midrand

South African logistics firm recommends review of bulk liquid terminal tender

By: Reuters     3rd May 2019 State-owned Transnet National Ports Authority (TNPA) will recommend to its board that a tender to build and operate a bulk liquid terminal in Durban be reviewed and possibly cancelled, a senior official said. The "Lot 100" tender at South Africa's main petrochemical hub Island View on the east... 

Fifth IASP Africa president to be announced this month

By: Simone Liedtke     3rd May 2019 The Innovation Hub will, on May 23 and 24, host the 2019 International Association of Science Parks (IASP) Africa division workshop at its grounds in Tshwane. The workshop is part of a series of Science and Technology Parks (STP) build-up events that are taking place globally ahead of the main... 

Nkwinti appoints new board at Umgeni Water

By: Simone Liedtke     3rd May 2019 Water and Sanitation Minister Gugile Nkwinti has finalised the appointment of the board of directors of Umgeni Water, which came into effect on May 1. To ensure a smooth transition as well as continuity from the knowledge and experience attained while serving Umgeni Water, the Minister retained... 

Outa says submits evidence against Transnet to Zondo commission

By: Marleny Arnoldi     3rd May 2019 The Organisation Undoing Tax Abuse (Outa) says it has handed, what it calls a comprehensive submission, to the Zondo Commission of Inquiry into State Capture that allegedly details corruption, money laundering and fraud at State-owned freight utility Transnet. In addition to allegations that... 

Eni to focus on saving African forests to offset CO2 emissions

By: Bloomberg     3rd May 2019 Eni's plan to offset emissions from its oil and gas operations will focus on working with African communities to prevent deforestation. The project is part of the Italian energy giant’s goal of removing the equivalent of 20-million tons a year of carbon dioxide (CO2) from the atmosphere by 2030.... 

Ascendis to sell biosciences businesses for R480m

By: Tasneem Bulbulia     3rd May 2019 Ascendis Health has entered into agreements with a consortium comprising RMB Ventures Seven, Nedbank Private Equity and certain members of the management of the Ascendis Biosciences division for the sale of various businesses under its Biosciences division for R480-million. A strategic review of... 

Record number of entries for annual Seifsa awards

By: African News Agency      3rd May 2019 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Friday its annual awards for excellence had seen a record increase in the number of entries, indicating their growing popularity and prestige. Seifsa CEO Kaizer Nyatsumba said the awards, introduced five years... 

MTN appoints Jonas chairperson designate, establishes international advisory board 

By: Natasha Odendaal     3rd May 2019 JSE-listed telecommunications giant MTN Group has established an international advisory board (IAB), led by political and business heavyweights. The group also plans on effecting an “evolution of the board”, with former Finance Minister Mcebisi Jonas appointed chairperson designate, as it enters... 

MTN appoints Jonas chairperson designate, establishes international advisory board
Photo by Creamer Media
Mcebisi Jonas

Insurers are rethinking construction sector risk mitigation – Allianz

By: Marleny Arnoldi     3rd May 2019 As construction projects become bigger and harder to fund, given rate pressures and market challenges, many insurers are exiting or scaling back in the engineering market, says Allianz Global Corporate & Specialty (AGCS) Africa property and engineering head Seelan Naidoo. He explains that the... 

Intellidex market research forecasts ANC will win with 57% of votes 

By: Marleny Arnoldi     3rd May 2019 Markets believe there is only a one-third chance of growth-boosting reform after the elections and that there is a 75% probability of President Cyril Ramaphosa remaining in his seat until 2022, at least, according to financial services research house Intellidex. Overall, the market anticipated... 

Intellidex market research forecasts ANC will win with 57% of votes

New TCTA board announced

By: Marleny Arnoldi     3rd May 2019 Water and Sanitation Minister Gugile Nkwinti has appointed a new board for State-owned water infrastructure project implementer Trans-Caledon Tunnel Authority. The board will serve until April 30, 2022. 

New TCTA board announced
Photo by Creamer Media
TCTA Vaal pipeline project

Built environment still plagued by falling-from-height accidents – federation

By: Marleny Arnoldi     3rd May 2019 Nelson Mandela University has found that the indirect costs of falling-from-height (FFH) accidents are 14.2 times the direct costs, reports the Federated Employers Mutual Assurance Company. This is backed by UK-based Health and Safety Executive research, which determined the indirect costs of... 

Built environment still plagued by falling-from-height accidents – federation

Nigeria's NNPC reveals 132 firms companies bid for oil swaps

By: Reuters     3rd May 2019 Nigerian State oil company NNPC said that 132 companies had bid for the right to swap the nation's crude oil for fuels as a tender for the deals closed on Thursday. The tender for the one-year contracts, dubbed direct sale, direct-purchase, was issued in March. NNPC extended the 2018 contracts... 

Biggest grocers to use blockchain for food safety, traceability by 2025 – Gartner

By: Tasneem Bulbulia     3rd May 2019 Gartner expects that, by 2025, 20% of the top ten global grocers by revenue will use blockchain for food safety and traceability to create visibility to production, quality and freshness. The company indicated in a media release issued this week that yearly grocery sales are on the rise in all... 

Former BP and Equinor executive to lead African Energy Chamber in Angola

By: African News Agency      3rd May 2019 The African Energy Chamber says it has appointed former BP and Equinor executive Sergio Pugliese as its president for Angola with effect from May 1. In a statement issued on Thursday, the chamber said Pugliese would support its partners in unlocking value in Angola’s multi-billion-dollar oil and... 

Kenya's Safaricom FY earnings jump on upbeat M-Pesa growth

By: Reuters     3rd May 2019 Safaricom, Kenya's biggest telecoms operator, said on Friday its core earnings for the full year rose to 89.6-billion shillings ($889.33-million). The company had reported an earnings before interest and taxation (EBIT) of 79.3 billion shillings in the previous year. 

Eskom’s China loan facility not in jeopardy – Public Enterprises 

By: News24Wire      3rd May 2019 The Department of Public Enterprises says that power utility Eskom’s multi-billion rand loan facility with the China Development Bank is not in jeopardy, despite concerns sparked by a delay in the release of a R7-billion tranche of funds last month. The bank was meant to release the funds - part... 

 Eskom’s China loan facility not in jeopardy – Public Enterprises

Ekurhuleni Aerotropolis core to Albertina Sisulu Corridor development plans  

By: Nadine James     3rd May 2019 The Albertina Sisulu Corridor – which links the Johannesburg central business district, OR Tambo International Airport and Pretoria – is benefitting from the establishment of public-private partnerships and infrastrucutre investments, designed to facilitate the implementation of the 30-year... 

Ekurhuleni Aerotropolis core to Albertina Sisulu Corridor development plans

Opinion: Can low-income homes be made to benefit from the energy transition? 

By: Tobias Bischof-Niemz     3rd May 2019 In the previous Transition Talk column, I covered how South Africa’s world-class solar resource, together with falling solar photovoltaic (PV) panel costs, has made rooftop generation an increasingly realistic proposition for factories, shopping malls and high-income households. I also outlined... 

Opinion: Can low-income homes be made to benefit from the energy transition?
Dr Tobias Bischof-Niemz

New tech initiative to enhance tourism industry

By: Tasneem Bulbulia     2nd May 2019 Tourism Minister Derek Hanekom on Thursday launched Jurni, a public–private sector venture that is expected to benefit the country’s tourism industry. Travel and Tourism Data Management company Jurni will deliver unbiased, consolidated and comprehensive tourism data to equip tourism businesses... 

New tech initiative to enhance tourism industry
Dr Nomvuselelo Songelwa

Seifsa welcomes PMI increase to 47.2 in April 

By: Marleny Arnoldi     2nd May 2019 The Steel and Engineering Industries Federation of Southern Africa has welcomed the increase in the seasonally-adjusted Absa Purchasing Managers’ Index (PMI) for April. Chief economist Dr Michael Ade said the rebounding indicator was encouraging for production processes. The PMI data for April... 

Seifsa welcomes PMI increase to 47.2 in April
Photo by Creamer Media
Seifsa chief economist Dr Michael Ade

April new-vehicle sales rise by 0.7%, exports by nearly 54% – Naamsa 

By: Marleny Arnoldi     2nd May 2019 The National Association of Automobile Manufacturers of South Africa on Thursday reported that the latest new-vehicle sales reflected a “welcome surprise” on the upside, with export sales continuing to perform “exceptionally” well. “Exports sales had registered strong growth, reflecting a... 

April new-vehicle sales rise by 0.7%, exports by nearly 54% – Naamsa

Anglo American a founding sponsor of the World Bank’s Climate Smart Mining fund

By: Tasneem Bulbulia     2nd May 2019 Diversified miner Anglo American has stepped up as a founding donor to the World Bank’s Climate Smart Mining Facility. In a statement, the company indicated that this was the first-ever fund dedicated to making mining for metals and minerals a more sustainable practice that complements the energy... 

Ramaphosa addresses YES youth concerns

By: Marleny Arnoldi     2nd May 2019 Since President Cyril Ramaphosa launched the Youth Employment Service (YES) in March last year, companies have jointly committed to realising nearly 18 000 work opportunities. The President on Thursday met with YES candidates who started their paid work experience at Nedbank and responded to... 

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