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Macro and Micro News

Opportunities for entrepreneurship abound, but challenges persist – Busa

By: Simone Liedtke     20th August 2021 Over the course of the past few decades, entrepreneurship has acquired an increasingly negative connotation, which Business Unity South Africa (Busa) Small-, Medium- and Microenterprises task team chairperson John Dludlu said has only been further exacerbated by the Covid-19 pandemic. During the... 

DMRE confirms 102 solar and wind bids as renewables procurement resumes  

By: Terence Creamer     20th August 2021 The Independent Power Producer Office (IPPO) has released the project names and technologies bid in response to Bid Window 5 (BW5) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), the bid deadline for which was August 16. The list released shows that 63 solar... 

A photo of a utility scale solar farm

South African food inflation continued its upward trend in July

By: Rebecca Campbell     20th August 2021 Food inflation in South Africa increased again last month, the Bureau for Food and Agricultural Policy (BFAP) has reported in its Food Inflation Brief-July 2021. The increase was both in month-on-month and year-on-year terms. There has been a trend of increasing food inflation in the country... 

Bidcorp records R73m damages from recent riots

By: Reuters     20th August 2021 South Africa's Bid Corporation (Bidcorp) has taken a hit of about R73-million from recent riots that damaged its inventory, infrastructure and vehicles, the food service company said on Friday. Several businesses, especially in the provinces of KwaZulu-Natal and Gauteng, bore the brunt of last... 

Patience Nombeko Mbava appointed FFC chairperson 

By: Thabi Madiba     20th August 2021 Dr Patience Nombeko Mbava will serve a five-year term as the new Financial and Fiscal Commission chairperson, following her appointment by President Cyril Ramaphosa. The FFC is an independent, permanent and statutory institution that makes recommendations to Parliament, provincial legislatures,... 

US moves to secure critical minerals for EV supply chain

By: Darren Parker     20th August 2021 Modern civilisation was built on fossil fuels, with the invention and commercialisation of the internal combustion engine during the 1800s setting the stage for petroleum-based vehicles to be dominant worldwide for the next 150 years. Various oil majors continue to produce huge volumes of oil and... 

Image of Engineering News and Mining Weekly magazine cover

South Africa proposes mandatory contributions to welfare fund 

By: Bloomberg     19th August 2021 South Africa should impose compulsory levies on companies and workers to create and capitalize a public social welfare fund, the Department of Social Development proposed. All employers and workers should contribute as much as 12% of their earnings to set up a fund that could provide... 

Regional insurgency, internal unrest highlights importance of a strong, well-resourced defence industry

By: Schalk Burger     19th August 2021 The role the South African National Defence Force (SANDF) has played and plays in ensuring the internal and external security of South Africa has again highlighted the importance and necessity of having a strong Department of Defence (DoD) and a strong defence industry, South African Aerospace,... 

WEF New Champions chapter launched in South Africa

By: Donna Slater     19th August 2021 The World Economic Forum’s (WEF’s) New Champions chapter in South Africa was launched on August 19 by Risk Insights – a WEF New Champions member and New Champions Award for Excellence in Agile Governance 2020 winner – and its strategic partners, Imperial Logistics and Instinctif Partners. The... 

South Africa to open up Covid-19 vaccinations to 18-35 year olds from Friday

By: Reuters     19th August 2021 South Africa will open up Covid-19 vaccinations to those aged between 18 and 35 years old from Friday, the government said in a statement, as it tries to ramp up its immunisation drive. The country has recorded the most coronavirus infections and deaths on the African continent, but it has so far... 

Gauteng ‘day-zero drought’ is South Africa’s biggest near-term climate risk, IPCC scientist warns 

By: Terence Creamer     19th August 2021 A leading South African climate scientist believes a ‘Gauteng day-zero drought’ represents the biggest near-term climate change risk faced by the country, which is poised to become hotter and drier as average global temperatures rise. Francois Engelbrecht, who is a distinguished professor of... 

An image of a drought stricken landscape

Township economy development programme spearheaded by Treasury forges ahead

By: Marleny Arnoldi     18th August 2021 The National Treasury, together with its implementation partner the Sustainable Livelihoods Foundation (SLF), has completed the first phase of its Metro Township Economic Development (TED) programme. The TED programme is a component of the Cities Support Programme (CSP), which is funded by the... 

Slowing South Africa Inflation may put off start of rate hikes

By: Bloomberg     18th August 2021 South Africa’s inflation rate fell to the lowest level in three months in July, giving the central bank more leeway to delay raising interest rates. The monetary policy committee turned less hawkish on policy normalization at its meeting last month and warned that deadly riots in the eastern... 

Two new FSCA deputy commissioners appointed

By: Schalk Burger     18th August 2021 Finance Minister Enoch Godongwana has appointed Farzana Badat and Katherine Gibson as deputy commissioners of the Financial Sector Conduct Authority (FSCA) for a period of five years. Badat is currently based in Switzerland where she is working as a senior policy adviser at the International... 

Covid-19 impacting informal, lower paying jobs the most – UCT analysis

By: Schalk Burger     18th August 2021 Using data from the National Income Dynamic Study’s Coronavirus rapid mobile surveys (NIDS-CRAM), the the University of Cape Town (UCT) Liberty Institute of Strategic Marketing has examined the impact on jobs and income across the economic spectrum. Perhaps the biggest impact has been felt by... 

De Ruyter outlines green reindustrialisation vision for South Africa 

By: Terence Creamer     18th August 2021 Eskom CEO Andre de Ruyter has outlined the case for leveraging South Africa’s transition to green energy to reverse the country’s “vicious cycle of deindustrialisation and unemployment” and to trigger a “virtuous cycle of local demand for local goods to create investment and jobs”. Delivering the... 

Eskom CEO Andre de Ruyter
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Sugarcane industry’s R84m loss from riots threatens thousands of rural jobs

By: Schalk Burger     17th August 2021 Industry body the South African Canegrowers Association (SA Canegrowers) is concerned about the impact of the recent unrest that swept through parts of KwaZulu-Natal and Gauteng, on the sugar industry, with mills in KwaZulu-Natal having rejected 135 222 t of damaged cane valued at more than... 

Nersa signals intent to treat sub-100 MW registration as ‘administrative’ process 

By: Terence Creamer     17th August 2021 The National Energy Regulator of South Africa (Nersa) is still analysing the implications that a recent amendment to Schedule 2 of the Electricity Regulation Act, exempting grid-tied generation facilities below 100 MW from licensing, will have on its processes, rules and guidelines. However,... 

Photo showing rooftop solar

JP Morgan launches R340m DTIC-approved equity equivalent investment programme 

By: Simone Liedtke     17th August 2021 Financial services multinational JP Morgan has launched the very first Department of Trade, Industry and Commerce- (DTIC-) approved equity equivalent investment programme (EEIP), which forms part of government’s broad-based black economic empowerment framework. The EEIP, funded by a R340-million... 

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

Fuel prices may dip in September if oil downtrend continues

By: News24Wire      17th August 2021 The latest calculations by the Central Energy Fund show that – at the current levels of the dollar/rand rate and oil prices – diesel prices may be cut slightly in September, while petrol could be hiked. According to the Automobile Association, the petrol price could increase by around 4c a litre,... 

Fuel pumps

Cobra to help identify, disburse funds to repair ransacked independent pharmacies

By: Schalk Burger     16th August 2021 The Covid Business Rescue Assistance (Cobra) initiative has been engaged by the Independent Community Pharmacy Association (ICPA) to help with the identification of funders and the disbursement of donor funding to help rebuild and repair independent pharmacies affected by the unrest in July. The... 

Business rescue the solution, not the problem, as more businesses face difficulties 

By: Simone Liedtke     16th August 2021 Law firm Cliffe Dekker Hofmeyr (CDH) business rescue and insolvency director Lucinde Rhoodie says South Africa can expect an uptick in business rescue filings, as more businesses will look to it as a means of saving their companies following significant impacts of the Covid-19 pandemic and the... 

Pic/Image of Closed for Business Sign in Shop Storefront.
Business rescue and insolvency director Lucinde Rhoodie discusses the potential uptick in business rescue filings in South Africa following recent civil unrest, and the country's still-struggling economy. Video: Recorded on Zoom. Editing: Creamer Media's Nicholas Boyd.

South Africa sends strong business delegation to Brics Forum to attract investment

By: Rebecca Campbell     16th August 2021 South Africa has sent a high-powered delegation to the eighth Brics Business Forum, which is being hosted by India, which started on Monday and will conclude on Wednesday. Brics is the acronym for the Brazil, Russia, India, China and South Africa alignment, created 13 years ago. The South African... 

Sasol’s new 2030 and 2050 decarbonisation targets to be ‘substantially higher’ 

By: Terence Creamer     16th August 2021 South Africa’s carbon-heavy fuels and chemicals group Sasol is poised to announce a “substantially higher” target for the reduction of its greenhouse-gas emissions following an intensive period of financial and organisational restructuring during its 2021 financial year. The JSE-listed group took... 

Photo of Sasol CEO Fleetwood Grobler
Photo by Creamer Media's Donna Slater
Sasol CEO Fleetwood Grobler

B4SA says private sector vaccination sites accepting walk-ins for all eligible age groups 

By: Marleny Arnoldi     16th August 2021 Business for South Africa (B4SA) has confirmed that all private sector vaccination sites across South Africa are now accepting walk-ins from anyone eligible for vaccination, including those without medical aid. As of August 16, those eligible for vaccination include those over the age of 35.... 

Covid-19 vaccines

Electricity Regulation Act amendment ‘not perfect’, but a good start

By: Marleny Arnoldi     16th August 2021 It is possible for 10 GW of new power generation capacity to be built in the next seven years, now that the amended Schedule 2 of the Electricity Regulation Act has paved the way for easier distributed generation, says Business Leadership South Africa (BLSA) CEO Busi Mavuso. The amendment has... 

BLSA CEO Busi Mavuso
BLSA CEO Busi Mavuso

Godongwana pledges policy continuity

By: Bloomberg     13th August 2021 South Africa’s new finance minister pledged to pursue policy continuity and said he’s committed to the Treasury’s existing fiscal framework and spending restraint. In his first interaction with investors since being appointed to the post last week, Enoch Godongwana said that while his style may... 

Massmart half-year sales grow 4.4%, estimates R570m impairment on Game stores

By: Schalk Burger     13th August 2021 JSE-listed retail group Massmart's total sales for the 26-week period ended June 27 amounted to R41.3-billion, which is a 4.4% increase compared with the same period in 2020, with comparable store sales having increased by 4.8%. The group expects to narrow its headline loss for the half-year... 

Eskom's Just Energy Transition initiatives  

13th August 2021 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about power utility Eskom's plans for the repowering and repurposing of the Komati power station as part of a larger just energy transition project and financing plan. 

 	Image of Terence Creamer
Eskom's Just Energy Transition initiatives

Opinion: SA's bank guarantee scheme is missing the opportunity to develop nascent entrepreneurs, industrialists

13th August 2021 In this opinion article, Bongani Mankewu writes that the recent uprising requires the dual logic economy where big businesses and small and medium-sized enterprises cooperate. 

Rising school dropout figures putting economic recovery at risk, says Mabuza

By: Yvonne Silaule     11th August 2021 Deputy President David Mabuza has called on government to address the issue of young people dropping out of school prior to matriculation as it "threatens the path to economic recovery". Speaking during the hybrid fourth Human Resource Development Council (HRDC) Summit, on August 10, he said that... 

PwC estimates South Africa's economy will grow by 2.5% this year

By: Schalk Burger     11th August 2021 Advisory multinational PwC expects the South African economy to grow by 2.5% this year, while the direct impact and lasting effect of the unrest in July could reduce gross domestic product (GDP) growth by 0.8 percentage points this year.  The R38.9-billion fiscal support package announced on July... 

DTIC opens R3.75bn relief package for businesses affected by civil unrest

By: Donna Slater     11th August 2021 Eligible businesses can now apply for loans under the R3.75-billion economic recovery support package, announced by Trade, Industry and Competition Minister Ebrahim Patel a fortnight ago to assist businesses that were impacted by the mid-July civil unrest in KwaZulu-Natal and Gauteng. The DTIC... 

Fitch sees new South African Finance Minister forging fiscal policy pact

By: Bloomberg     6th August 2021 New South African Finance Minister Enoch Godongwana’s heavyweight status within the ruling party could help to build alliances for the fiscal policies championed by the National Treasury, according to Fitch Ratings analyst Jan Friederich. Godongwana, a former labor unionist and close political... 

Cesa asks the engineering industry to unite for the good of the economy

By: Marleny Arnoldi     6th August 2021 Consulting Engineers South Africa (Cesa) says the consulting engineering industry is still working in silos too often, which the same industry often chastises government for doing. CEO Chris Campbell says that organisations including Cesa, the Engineering Council of South Africa, the South... 

South Africa's low growth a 'critical challenge', says new Finance Minister  

By: Reuters     6th August 2021 South Africa's new Finance Minister Enoch Godongwana said on Friday the country's low growth and high unemployment present a major challenge showing the need for structural reforms. President Cyril Ramaphosa on Thursday appointed Godongwana as finance minister in a Cabinet reshuffle, replacing... 

An image of Enoch Godongwana, South Africa's new Finance Minister
Photo by Creamer Media
Finance Minister Enoch Godongwana

Petrochem giant uses tech for greener fuel

By: Halima Frost     6th August 2021 In April JSE-listed synthetic fuels and chemicals company Sasol announced it will work alongside a consortium comprising multinational chemical company Linde, renewable energy company Enertrag and investment company Navitas Holdings to bid in concept for the production of sustainable aviation... 

An image of a Sasol Chemicals plant
COOL COLAB The collaboration between Sasol and the LEN Consortium will see greener jet fuel and chemicals being produced using Sasol's Fischer-Tropsch technology
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