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Macro and Micro News

Africa poised to benefit from strong European backing in its recovery  

By: Marleny Arnoldi     27th November 2020 Despite this year having been the worst year of growth for the global economy in the past 40 years, and with sub-Saharan Africa facing its first recession in 25 years with a 3.1% gross domestic product (GDP) contraction expected, there remains a strong case for a rebound, as international... 

UK sets out its development aid priorities following announcement of funding cut

By: Rebecca Campbell     27th November 2020 UK Foreign Secretary Dominic Raab has informed the House of Commons in London of the Foreign, Commonwealth & Development Office’s plans to overhaul Britain’s Official Development Assistance (ODA). This followed the UK government’s decision to temporarily reduce its ODA from the current 0.7% of... 

SA's prospects for future coal projects 

27th November 2020 The role of new coal in South Africa’s electricity mix is coming under increasing scrutiny, with Eskom CEO Andre de Ruyter the latest to question whether it can indeed be built. Engineering News editor Terence Creamer discusses the prospects for future coal projects. 

SA's prospects for future coal projects
SA's prospects for future coal projects

Plans to amend SA’s land tenure law another attack on private property rights, Cape chamber says

By: African News Agency      27th November 2020 The proposed amendment to South Africa’s Upgrading of Land Tenure Rights Act is a clear attempt to “bamboozle” the homeless out of their ability to own property, the Cape Chamber of Commerce & Industry said on Friday. If passed, it will inevitably trigger a Constitutional Court challenge, Cape... 

 Plans to amend SA’s land tenure law another attack on private property rights, Cape chamber says

SA govt funding for SAA business rescue will not hurt other services, Mabuza says

By: African News Agency      27th November 2020 South Africa’s government will do all it can to minimise any adverse impact that the re-prioritisation of budget allocations to free up R10.5-billion towards national carrier South African Airways’s business rescue might have on other services, Deputy President David Mabuza has said. The... 

 SA govt funding for SAA business rescue will not hurt other services, Mabuza says
Deputy President David Mabuza

Indaba aims to encourage sector growth

By: Darren Parker     27th November 2020 Revitalising and growing manufacturers is the theme of this year’s Manufacturing Indaba, which aims to get the South African manufacturing industry stakeholders together to unpack the way forward towards growing their businesses. This year’s event was originally slated to take place on June 9 and... 

Indaba aims to  encourage sector growth
THIS TIME IT’S VIRTUAL This year’s Manufacturing Indaba will be entirely virtual and, therefore, free to attend

Local valve manufacturer first to be marine-certified

By: Darren Parker     27th November 2020 Valve manufacturer Paltechnologies (Paltech), a subsidiary of holdings company Mokoena Holdings, has become the first South African valve manufacturer to become fully certified to supply valves to the marine industry. Paltech was one of the companies to benefit from the Marine Manufacturing,... 

Local valve manufacturer first to be marine-certified
OPEN AND SHUT Paltechnologies is the first South African valves manufacturer to become marine-certified

Panel on EIPs to feature at Indaba

By: Darren Parker     27th November 2020 The National Cleaner Production Centre South Africa (NCPC-SA) will host a panel at this year’s Manufacturing Indaba on industrial parks, the potential to transform them into eco-industrial parks (EIPs) and leveraging them for accelerated development. This year, the NCPC-SA, United Nations... 

Panel on EIPs to  feature at Indaba
HENRY NUWARINDA The Global Eco-Industrial Park Programme will ensure an added level of quality control and cost-efficiency

African funds with dedicated ESG mandates could hold up to R500bn in JSE-listed equities

By: Simone Liedtke     26th November 2020 African funds with dedicated environmental, social and governance (ESG) mandates could hold JSE-listed equities worth up to R500-billion over the medium term as the focus on sustainability intensifies, a research report by SBG Securities shows. This shows that corporates with strong ESG... 

AfCFTA to provide business opportunities for African countries

By: Yvonne Silaule     26th November 2020 The African Continental Free Trade Agreement (AfCTA) will provide business opportunities that will enable African countries to lift citizens of the continent out of poverty post Covid-19, Department of Trade, Industry and Competition (DTIC) Trade and Invest Africa chief director John Rocha has... 

Six steps proposed for unlocking larger-scale self-gen projects, amid ongoing government resistance 

By: Terence Creamer     26th November 2020 Six steps could be taken immediately by the South African government and the energy regulator to unlock more self-generation investment by residential, commercial, industrial, mining and agricultural consumers so as to minimise power shortages and reduce the threat of load-shedding, a newly... 

Six steps proposed for unlocking larger-scale self-gen projects, amid ongoing government resistance

Speed up SAA restructure so it can continue key role in Africa - aviation official

By: News24Wire      26th November 2020 The regional representative of the International Air Transport Association (IATA) has called for the SA government to speed up its contribution to assist the airline in restructuring. He says South African Airways (SAA) and South Africa have played a major role in the growth of aviation in... 

Speed up SAA restructure so it can continue key role in Africa - aviation official

Ramaphosa to face motion of no confidence next week  

By: News24Wire      26th November 2020 President Cyril Ramaphosa will face a motion of no confidence next Thursday. At Thursday’s meeting of the National Assembly Programming Committee, secretary to Parliament Masibulele Xaso said National Assembly Speaker Thandi Modise had approved the African Transformation Movement’s motion of no... 

Ramaphosa to face motion of no confidence next week
President Cyril Ramaphosa

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.  

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... 

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

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... 

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

South Africa’s ability to tame wage bill uncertain, Fitch says

By: Bloomberg     23rd November 2020 South Africa may struggle to stick to a plan to rein in government spending by freezing public-sector wages, Fitch Ratings said on Monday. Finance minister Tito Mboweni has outlined a plan to pare the government salary bill, which has surged 51% since 2008, as part of an effort to start bringing... 

South Africa’s ability to tame wage bill uncertain, Fitch says

Wits encouraged by AstraZeneca/Oxford Covid-19 vaccine results

By: Thabi Madiba     23rd November 2020 The University of the Witwatersrand said on Monday it was encouraged by the results of the Coronavirus vaccine jointly-developed by the University of Oxford and British drug group AstraZeneca. An analysis of the Phase 3 arms of the UK and Brazil studies show a 70.4% efficacy, with data from two... 

Wits encouraged by AstraZeneca/Oxford Covid-19 vaccine results

Downgrades deal blow to economic recovery plan 

By: Marleny Arnoldi     23rd November 2020 The latest sovereign ratings downgrades imposed on South Africa have dealt a blow to the country's economic recovery plan and should spur government into action to address the issues raised by Moody’s and Fitch. Responding to the news that Moody's and Fitch have pushed South Africa's credit... 

Rand lifted by vaccine hopes, shrugs off downgrades

By: Reuters     23rd November 2020 The rand opened stronger on Monday, lifted by global optimism over coronavirus vaccines and shrugging off ratings downgrades that are likely to push up government borrowing costs. At 07:02 GMT, the rand traded at 15.3700 versus the dollar, 0.4% firmer than its previous close. The upbeat global... 

'Painful' downgrades will raise South Africa's borrowing costs

By: Reuters     23rd November 2020 South Africa's Finance Ministry said on Saturday credit ratings downgrades by Moody's and Fitch would increase the country's borrowing costs and constrain its fiscal options. "The decision by Fitch and Moody's ... is a painful one," Finance Minister Tito Mboweni said in a statement. There is an... 

'Painful' downgrades will raise South Africa's borrowing costs
Finance Minister Tito Mboweni

Repurposing of Eskom power stations key in SA's just transition  

20th November 2020   Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about plans by Eskom to repurpose and repower three coal-fired power stations that are due for decommissioning, why it is important for creating a just transition framework and the need for South Africa to determine... 

Repurposing of Eskom power stations key in SA's just transition
Repurposing of Eskom power stations key in SA's just transition

S African-Italian trade dips but remains adequate

By: Darren Parker     20th November 2020 Despite the Covid-19 pandemic, a respectable $1.4-billion worth of goods has been exchanged between South Africa and Italy since January, according to Italian-South African Chamber of Trade and Industries (ItalchamSA) secretary general Pamina Bohrer. She explains that the bulk of this trade... 

S African-Italian trade dips but remains adequate
TRADE-OFF Since Italy and South Africa were both subjected to strict lockdowns, trade between the two countries is expected to be significantly lower this year

Stronger advocacy needed to protect European business interests

By: Darren Parker     20th November 2020 The impact of Covid-19 on South Africa and Italy has highlighted the need for strong action to ensure that European business interests are protected in South Africa, according to a statement by Italian-South African Chamber of Trade and Industries (ItalchamSA) secretary-general Pamina Bohrer... 

Stronger advocacy needed to protect European business interests
PAMINA BOHRER European business interests need to be protected in South Africa

Partnership improves dry-type transformers access in Africa

By: Darren Parker     20th November 2020 Access to dry-type transformer technology has been boosted throughout Africa, following the partnership of South African transformer supplier Trafo Power Solutions with Italian transformer manufacturer TMC Transformers at the end of 2018. “The business prospects for TMC in Africa are quite good... 

Partnership improves dry-type transformers access in Africa
DAVID CLAASSEN Dry-type transformer technology is safer and requires less maintenance

SARB leaves repo rate unchanged at 3.50% 

By: Reuters     19th November 2020 South Africa's central bank left its main lending rate unchanged at 3.50% on Thursday, Governor Lesetja Kganyago said. A Reuters poll saw the Reserve Bank leaving rates unchanged, with 17 of 22 economists expecting the bank to hold rates steady after cutting them by a cumulative 300 basis points... 

Biovac celebrates local manufacture of paediatric vaccine

By: Thabi Madiba     19th November 2020 Bio-pharmaceutical company Biovac CEO Dr Morena Makhoana on Thursday lauded the commencement of local manufacturing of a six-in-one paediatric vaccine, saying through local manufacturing the company will be able to further strengthen security of supply whilst contributing to the local economy.... 

Biovac celebrates local manufacture of paediatric vaccine
Biovac CEO Dr Morena Makhoana

Financial constraints compel the CCMA to review operations and reprioritise spending

By: News24Wire      19th November 2020 Government-wide financial constraints have compelled the Commission for Conciliation, Mediation and Arbitration (CCMA) to review its operations and reprioritise spending, the dispute resolution body said in a statement on Tuesday. This as the CCMA, as with other public institutions, is affected... 

New investment pledges of R109.6bn unveiled at hybrid investment conference

By: Terence Creamer     18th November 2020 Investment pledges of R109.6-billion were unveiled at the third South African Investment Conference on Wednesday, increasing the total value of commitments made since 2018 to R773.6-billion, or more than 60% of the R1.2-trillion target set by President Cyril Ramaphosa three years ago. Speaking at... 

New investment pledges of R109.6bn unveiled at hybrid investment conference

Ramaphosa stresses South Africa’s gateway-to-Africa role as he seeks to reignite investment amid Covid  

By: Terence Creamer     18th November 2020 President Cyril Ramaphosa used the platform of the third South Africa Investment Conference to underline the country’s potential to act a gateway to the African market, as he sought to reignite investor interest in an economy that has been underperforming for more than a decade and has been... 

Ramaphosa stresses South Africa’s gateway-to-Africa role as he seeks to reignite investment amid Covid
Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Five years before economy may return to pre-Covid levels, says Absa’s Gable    

By: Irma Venter     18th November 2020 It will, most likely, take half a decade before the South African economy returns to the level it was at the end of 2019, says Absa chief economist Jeff Gable. “And 2019 was a miserable year for South Africa – the economy grew barely 0.5%. On top of that we weren’t doing great in the previous... 

Five years before economy may return to pre-Covid levels, says Absa’s Gable  
Jeff Gable

Proposal to nationalise central bank sends 'negative signal' – Treasury 

By: Reuters     18th November 2020 South Africa's treasury does not support a private member's bill seeking to nationalise the central bank, a senior official said on Wednesday during the first day of public hearings on an issue that has rattled investors in the recession-hit economy. The bill to change the ownership of the South... 

Proposal to nationalise central bank sends 'negative signal' – Treasury

Renergen announces new LNG truck solution, adds another LNG supply route 

By: Simone Liedtke     18th November 2020 Emerging domestic natural gas and helium producer Renergen has, in partnership with trailer manufacturer Henred Fruehauf, developed a zero-emission solution for the cold-chain logistics industry. The solution makes use of liquid natural gas (LNG), stored at ultralow temperatures in the truck’s... 

Renergen announces new LNG truck solution, adds another LNG supply route

UIF to open last round of TERS benefit applications on November 23

By: Creamer Media Reporter      17th November 2020 The Unemployment Insurance Fund (UIF) will open and start processing the latest and last round of Covid-19 Temporary Employer/Employee Relief Scheme (TERS) applications from Monday, November 23. Applications will close at the end of December. 

Govt, industry sign the sugar master plan

By: Creamer Media Reporter      17th November 2020 Trade, Industry and Competition Minister Ebrahim Patel, Agriculture, Land Reform and Rural Development Minister Thoko Didiza and sugar industry stakeholders have signed the Sugar Industry Master Plan. As part of the master plan, industrial users and retailers have agreed to minimum offtake of... 

Govt, industry sign the sugar master plan
A sugarcane plantation
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