R/€ = 16.96 Change: -0.02
R/$ = 16.60 Change: -0.02
Au 1789.47 $/oz Change: 2.71
Pt 930.50 $/oz Change: -11.50

Latest News

Tongaat asks JSE to suspend share trading amid restructuring

By: Marleny Arnoldi     15th July 2022 Sugar producer Tongaat Hulett has applied to the JSE to suspend trading in its shares as it progresses with a restructuring plan. CEO Gavin Hudson confirms in a statement released on July 15 that the restructuring plan will be delivered at the end of September.  

South Africa ranks second in budget transparency index

By: Donna Slater     15th July 2022 South Africa ranked second in terms of transparency in the 2021 Open Budget Index, scoring 86 points out of 100. The index, which included 120 countries, was compiled by the International Budget Partnership (IBP) through an Open Budget Survey.  

Platinum-containing hydrogen fuel technology driving net-zero ambitions – WPIC

By: Donna Slater     15th July 2022 The World Platinum Investment Council (WPIC) says platinum group metals (PGMs) are enabling many sectors globally to achieve net-zero carbon emissions goals through their use in hydrogen energy and low-emissions technology, and especially through green hydrogen production. Hydrogen fuel – made... 

Hydrogen haul truck
Anglo American's 290 t hydrogen-powered haul truck

ANC considers second State-owned power utility to challenge Eskom 'monopoly' – Ramaphosa 

By: News24Wire      15th July 2022 African National Congress President Cyril Ramaphosa on Friday announced that the party is strongly considering the establishment of a second State-owned power utility to reduce the risk posed by Eskom's failings. Ramaphosa, who gave the ANC's message of support on the third day of the South... 

ANC President Cyril Ramaphosa
ANC President Cyril Ramaphosa

Basing analysis solely on data can result in treasure being mistaken for trash  

By: Martin Creamer     15th July 2022 Applying subject matter expertise to process data streams for accuracy is a necessary part of mining’s new digital age, according to SRK Consulting Global chief technology officer Mike Olsen. Olsen, the leader of SRK’s data engineering team, spoke to Mining Weekly in a Zoom interview from Canada.... 

How to avert the risk of valuable information being disregarded.
SRK Consulting Global chief technology officer Mike Olsen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

BMW adds i4, iX3 to local EV portfolio; electrified vehicle production under consideration at Rosslyn 

By: Irma Venter     15th July 2022 BMW Group South Africa (BMW SA) has expanded its electric vehicle (EV) range with the addition of the i4 and iX3. The BMW i4 is a four-door gran coupé and the German car maker’s first purely electric model focused squarely on driving dynamics from the outset.  

Image of the BMW i4 M50
The BMW i4 M50

MTN eyes Telkom acquisition

By: Natasha Odendaal     15th July 2022 Telecommunications groups MTN and Telkom have issued a cautionary on July 15 as they enter discussions over the potential acquisition of Telkom by MTN. The discussions surrounding MTN’s acquisition of the entire issued share capital of Telkom in return for shares or a combination of cash and... 

Photo of a Telkom logo

ITSSA to disband as the project has realised its mandate – CEO 

By: Irma Venter     15th July 2022 The Intelligent Transport Society of South Africa (ITSSA) has disbanded as it has fulfilled its mandate, says CEO Dr Paul Vorster. An ITSSA annual general meeting in July confirmed a decision taken by the society’s board in June to close out the project. 

Image of a toll gantry on the GFIP system

Telkom appoints new board members, reconfigures committees

By: Natasha Odendaal     15th July 2022 Telecommunications group Telkom has announced several changes to its board and a reconfiguration of its committees. As independent nonexecutive directors Navin Kapila; Fagmeedah Petersen-Cook; and Kholeka Mzondeki retire and will not be available for re-election, and Rex Tomlinson resigns, all... 

Opec faces a near-impossible production task in 2023

By: Bloomberg     15th July 2022 Organisation of the Petroleum Exporting Countries (Opec) producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle. The latest forecasts from the International Energy Agency, the US... 

Actis hires Citi to sell African renewables firm

By: Bloomberg     15th July 2022 Buyout firm Actis appointed Citigroup to help with the sale of its BTE Renewables business in South Africa and is seeking a value close to $1-billion, according to people familiar with the matter. The parties are close to putting together a shortlist of potential buyers, said the people, who... 

Ramaphosa gearing up for a major announcement on energy  

By: Creamer Media Reporter      15th July 2022 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about how Stage 6 load-shedding has led to a lot of behind-the-scenes activity and discussions on the energy crisis; what the President is likely to announce; and whether this will be enough to end load-shedding. 

Photo of Terence Creamer
Ramaphosa gearing up for a major announcement on energy

Local IoT device makers should seize South African shift to IoT, AI and ML, automation and cloud

By: Schalk Burger     15th July 2022 Industry organisation the Internet of Things (IoT) Industry Council of South Africa (IOTIC) says the impact of the Covid-19 pandemic has pushed businesses in South Africa towards IoT, artificial intelligence, machine learning, automation and the cloud. This shift is accelerating digital... 

15 Afri-Plastics innovation challenge finalists receive £50 000 to develop innovations

By: Schalk Burger     15th July 2022 Fifteen teams of innovators from Botswana, Burkina Faso, Cameroon, Ethiopia, Ghana, Kenya, Nigeria, Senegal, South Africa and Uganda have been named finalists in the third strand of the the Afri-Plastics Challenge, and each team will receive a £50 000 grant towards their solutions. The finalists... 

Magazine round up | 15 July 2022 

15th July 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine Cover image
Magazine round up | 15 July 2022

South African businesses take tentative steps into metaverse

By: Natasha Odendaal     15th July 2022 The next evolution of the Internet is emerging and, while expected to develop slowly in South Africa, the so-called metaverse could provide business with a new avenue of growth. The metaverse is commonly described as shared, virtual three-dimensional (3D) worlds, representing the convergence of... 

Magazine cover image

Business outlines 10-point plan for unlocking 15 GW of new electricity capacity 

By: Terence Creamer     14th July 2022 Business Unity South Africa (BUSA) has outlined a set of ten interventions that it believes could unlock much-needed investment into new generation and storage capacity over the coming two years and should be included as part of President Cyril Ramaphosa comprehensive plan for tackling... 

Cas Coovadia
Cas Coovadia

IRP 2019 implementation to continue while plan is reviewed, consulted and updated 

By: Terence Creamer     14th July 2022 Department of Mineral Resources and Energy (DMRE) director-general Jacob Mbele has confirmed that the Integrated Resource Plan of 2019 (IRP 2019) will continue to be implemented while it is reviewed, consulted, and updated – a process that is set to continue well into 2023. Speaking during a... 

DMRE director general Jacob Mbele
DMRE director general Jacob Mbele

South Africa has competitive advantages to develop green hydrogen, says Sasol   

By: Marleny Arnoldi     14th July 2022 South Africa has quite a few competitive advantages that will serve it well in entering the green hydrogen manufacturing space, Sasol low-carbon energy solutions business developer Zanele Salman has said. She spoke during a Saldanha Bay Innovation Campus webinar, the third in a series that... 

Sasol's refinery in Secunda
Sasol low-carbon energy solutions business developer Zanele Salman discusses why South Africa is well positioned for green hydrogen manufacturing

Black Industrialists conference to highlight govt’s progress since 2016 

By: Marleny Arnoldi     14th July 2022 Trade, Industry and Competition Minister Ebrahim Patel has confirmed that government will share the findings of research conducted into the impact of black industrialists on economic output and job numbers during the inaugural Black Industrialists and Exporters Conference. The conference will... 

Trade, Industry and Competition Minister Ebrahim Patel
Photo by Creamer Media's Donna Slater
Trade, Industry and Competition Minister Ebrahim Patel

Structural growth in South Africa to slow for the rest of this year

By: Schalk Burger     14th July 2022 While South Africa's real gross domestic product (GDP) growth expanded above consensus forecasts in the first quarter of this year, fading base effects, persistent structural constraints and the impact of Russia's invasion of Ukraine will result in growth slowing across the rest of the year,... 

Kibo waste-to-energy project PPA extended to 20 years

By: Tasneem Bulbulia     14th July 2022 Dual-listed Kibo Energy has extended its conditional take-or-pay Power Purchase Agreement (PPA), first announced in February, from the initial ten years to 20 years. The PPA outlines the construction, commissioning and operation of a 2.7 MW plastic-to syngas power plant to generate baseload... 

ParkUpp launches community basement parking for car collectors

By: Irma Venter     14th July 2022 ParkUpp has secured community basement parking for car collectors in a number of locations across South Africa.  Parkupp Collector’s national roll-out begins at Cape Town’s Cape Quarter with an initial 40-bay offering. 

New mining Bill major threat to jobs and investment, must be strenuously opposed – ENSafrica  

By: Martin Creamer     14th July 2022 A new draconian mining industry draft Bill, which threatens jobs and investment – and can even impose a penalty of 10% of turnover on a mine company, along with corporate manslaughter charges – must be “very, very strenuously opposed", top South African mining industry lawyer Willem Le Roux urged... 

Creamer Media screenshot
Photo by Creamer Media
Presenting ENSafrica webinar are from top anti-clockwise Willem Le Roux, Pieter Colyn and Celeste Coles.

Averda using IFC loan to build plastic recycling plant in South Africa

By: Schalk Burger     14th July 2022 Development finance institution the International Finance Corporation (IFC) is providing a $30-million loan to emerging markets integrated waste management company Averda to support waste management, and part of the loan is being used to fund the construction of a new plastics recycling plant in... 

A photo of Averda employees sorting waste

Coalition demands Ramaphosa address energy crisis, replace Mantashe

By: Donna Slater     14th July 2022 The Climate Justice Coalition – a coalition of South African trade unions and grassroots, community-based and nonprofit organisations – will march to the office of the Presidency on Nelson Mandela Day (July 18) to hand over a petition demanding the energy crisis be dealt with. The petition calls... 

Financial services, businesses can improve African export diversification

By: Schalk Burger     14th July 2022 The diversification of African exports and economies is the most viable means by which these countries can prosper in the global economy and survive vulnerabilities and economic uncertainties exacerbated by commodity price volatility, the United Nations Conference on Trade and Development’s... 

Big name investors back new climate venture fund

By: Bloomberg     14th July 2022 Swiss investment firm Lombard Odier Group and a billionaire from the family behind Swiss pharmaceuticals giant Roche Holding are among a cast of big name investors in a new climate change venture capital fund. With a first close of $70-million and a target size of $200-million, the Systemiq... 

Former Anglo American CEO Mark Cutifani
Former Anglo American CEO Mark Cutifani

Anglo, Nippon partner to further decarbonise steelmaking  

By: Marleny Arnoldi     14th July 2022 Diversified miner Anglo American has signed a memorandum of understanding (MoU) with Japan-headquartered Nippon Steel to develop solutions for lower-carbon steelmaking. As an iron-ore supplier to the steelmaking industry, Anglo deems it important to help shape a greener future for the backbone... 

Steel rolls

Poor road conditions, truck shortage boosting Serco’s repair business

By: Schalk Burger     14th July 2022 Truck bodies and trailers manufacturing company Serco says the poor condition of some roads in South Africa, as well as a shortage of new trucks, is boosting its repair business. "The damage vehicles suffer owing to the poor road conditions and the challenges with sourcing new trucks owing to... 

A photo of a potholed road

Deal with service delivery or face instability and desperate people, Godongwana warns  

By: News24Wire      14th July 2022 Just over a year after a wave of violent unrest swept through KwaZulu-Natal and Gauteng, Finance Minister Enoch Godongwana has warned that the continued decay of service delivery by local government is a fertile breeding ground for economic strife and future instability in SA. The minister on... 

Finance Minister Enoch Godongwana
Finance Minister Enoch Godongwana

South African rooibos tea industry pays out to indigenous people

By: Bloomberg     14th July 2022 South Africa’s rooibos tea industry paid R12.2-million to groups representing indigenous people in the country, part of a benefit-sharing agreement to recognize the original cultivators of the plant. A levy of 1.5% of the farm gate price of the herbal tea will be paid into a trust each year... 

Emira proposes Transcend buyout to prevent shareholding dilution, value loss

By: Donna Slater     14th July 2022 JSE-listed Emira Property Fund has proposed a general offer to real estate investment trust (Reit) Transcend Residential Property Fund shareholders to acquire all the shares in Transcend that it does not already own. Transcend, with a residential-only property portfolio, listed on the JSE’s AltX... 

Solidarity to auction Denel assets to pay R90m debt owed to employees 

By: Schalk Burger     14th July 2022 Trade union Solidarity will hold the first of several auctions of State-owned defence company Denel’s assets on July 15. Solidarity seized these assets earlier this year owing to Denel’s failure to pay about R90-million in debt to Solidarity members in terms of a court order. 

Household financial resilience remains stable, but threatened by higher interest rates

By: Creamer Media Reporter      14th July 2022 The first quarter Altron FinTech Household Resilience Index (AFHRI) is in “stable territory” with a consistent improvement in the disposable income of South African households and their ability to pay back debt. However, while the ratio of household income to debt costs has improved considerably... 

Copper shortages to hamper net-zero targets - report

By: Esmarie Iannucci     14th July 2022 A new study by analyst S&P Global has found that meeting the net zero emissions target by 2050 could be “short-circuited and remain out of reach” unless significant new copper supply comes online in a timely way. The study projects global copper demand to nearly double over the next decade, from... 

New EO Durban chapter president says KZN entrepreneurs have much to look forward to

By: Schalk Burger     14th July 2022 The Durban chapter of global network Entrepreneurs’ Organisation’s (EO’s) newly appointed president Denzil Steyn says there is much to celebrate as entrepreneurs in the KwaZulu-Natal province, despite Durban’s businesses facing a new set of hurdles in the face of local and global economic... 

Technical expert calls for power-, environment-saving lighting standards to be promulgated 

By: Schalk Burger     14th July 2022 Industrial technical standards and best practices expert and nonprofit organisation CLASP energy efficiency lighting expert Michael Scholand is calling on the Department of Trade, Industry and Competition (DTIC) to promulgate compulsory specification VC9109, which sets out energy efficiency... 

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