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Macro and Micro News

US, Western Cape launch trade investment partnership

By: Yvonne Silaule     5th February 2021 The US Consulate General in Cape Town and the Western Cape government have jointly launched a Trade and Investment Promotion Partnership which will build on the momentum of an existing economic relationship to promote shared prosperity and economic development. In a statement released on Friday,... 

Eskom supports lifting licensing exemption threshold for electricity generation to 50MW  

5th February 2021 Eskom CEO Andre de Ruyter has expressed support for a lifting of the licensing threshold on distributed generators from 1 MW to 50 MW. Engineering News editor Terence Creamer unpacks the significance of this statement.   

Eskom supports lifting licensing exemption threshold for electricity generation to 50MW
Eskom supports lifting licensing exemption threshold for electricity generation to 50MW

Private sector contributes R70m towards fight against gender-based violence and femicide

By: Yvonne Silaule     5th February 2021 Diversified miner Anglo American, financial services provider Absa and automotive manufacturer Ford have contributed a collective R70-million to support government's fight against gender-based violence and femicide. President Cyril Ramaphosa made the announcement during the virtual launch of the... 

Seifsa gauges impact of oxygen shortage on members' operations 

By: Marleny Arnoldi     4th February 2021 To assess the scale of the reported oxygen shortage in South Africa, the Steel and Engineering Federation of Southern Africa (Seifsa) took it upon itself to survey its member companies to establish their experiences around oxygen shortage within the metals and engineering sector. Seifsa set out... 

South Africa's top 100 companies in line with global voluntary tax disclosure trends

By: Schalk Burger     4th February 2021 South Africa’s top 100 companies are making strides in voluntary tax disclosure and there is an increasing awareness of responsible tax behaviour globally, as well as rigorous scrutiny from regulators and other stakeholders, while the Covid-19 pandemic and economic uncertainty have fuelled the... 

Treasury likely to maintain bond auction levels 

By: Bloomberg     4th February 2021 South Africa’s National Treasury will probably keep the levels of its bond auctions constant until the end of the fiscal year, even with domestic-debt issuance running ahead of target. The Treasury is unlikely to “adjust its in-year bond auction levels due to the short time period remaining after... 

Treasury likely to maintain bond auction levels
Finance Minister Tito Mboweni

US provides additional field hospital support to South Africa 

By: Thabi Madiba     4th February 2021 Field hospitals in the Free State and Eastern Cape have received support from the US Agency for International Development in the form of medical equipment and technical assistance in the provinces’ response to the Covid-19 pandemic. The US government has provided several tons of medical... 

US provides additional field hospital support to South Africa

Top 10 GreenPitch Challenge 2021 entrepreneurs to showcase green innovations

By: Schalk Burger     3rd February 2021 The organisers of the Invest Cape Town and the Business Hub GreenPitch Challenge 2021 have identified ten innovators and entrepreneurs with economically viable green economy innovation business ideas to pitch those ideas to a panel of expert judges at a virtual event on February 10. "The... 

R12bn cost of vaccination roll-out ‘immaterial’ relative to Covid’s economic cost  

By: Terence Creamer     3rd February 2021 Having received finer pricing details from Covid-19 vaccine manufacturers over the past month, organised business is currently estimating that it will cost about R12-billion to vaccinate 70% of South Africa’s adult population – well below government’s earlier and heavily criticised estimate of... 

R12bn cost of vaccination roll-out ‘immaterial’ relative to Covid’s economic cost

Entries now open for Seifsa Awards of Excellence

By: Simone Liedtke     3rd February 2021 Entries are now open for the seventh edition of the yearly Steel and Engineering Industries Federation of Southern Africa (Seifsa) Awards for Excellence. The awards, aimed at celebrating excellence in the metals and engineering (M&E) industry, honour small and large manufacturers that promote... 

South Africa's factory activity edges up in January - PMI

By: Reuters     3rd February 2021 South African private sector activity expanded again in January, albeit marginally, as firms completing outstanding orders helped output increase by its most in four years, a survey showed on Wednesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 50.8 in January from 50.2 in December,... 

Breaking ground on key infrastructure projects would be ‘immune booster’ for ailing economy  

By: Terence Creamer     3rd February 2021 Consulting Engineers South Africa believes that visible progress on a select number of high-profile infrastructure projects in 2021 could serve as an “immune booster” for South Africa’s ailing economy and provide impetus for a much-needed recovery in investor confidence. Presenting CESA’s yearly... 

Breaking ground on key infrastructure projects would be ‘immune booster’ for ailing economy
Photo by Creamer Media's Donna Slater
Sugen Pillay

Lower population growth could significantly reduce unemployment – report   

By: Thabi Madiba     3rd February 2021 Independent organisation the Inclusive Society Institute has released a new report showing the correlation between lower population growth levels and reduced unemployment levels. ISI CEO Daryl Swanepoel explained that between 2011 and 2019 South African’s population grew by an average of 1.65%,... 

Lower population growth could significantly reduce unemployment – report

Govt launches Electronic Vaccine Data System ahead of vaccine roll-out 

By: Yvonne Silaule     3rd February 2021 Healthcare workers are encouraged to register on the Department of Health’s Electronic Vaccination Data System Self Enrolment Portal, as part of government’s phased approach to the vaccine roll-out. More than 34 000 health workers have already registered on the system, which forms part of... 

Govt launches Electronic Vaccine Data System ahead of vaccine roll-out
Health Minister Zweli Mkhize

DBSA launches green bond

By: Creamer Media Reporter      3rd February 2021 Development finance institution, the Development Bank of Southern Africa (DBSA) has announced the launch of its first green bond of €200-million, which was issued through a private placement with the French development finance institution, the Agence Française de Développement. The bond will be... 

Extreme weather, macroeconomic factors threaten Mozambique’s creditworthiness, says S&P

By: Simone Liedtke     3rd February 2021 Recurrent extreme weather events will likely delay Mozambique's economic recovery and exacerbate risks to long-term growth prospects, ratings agency S&P Global Ratings has warned. It estimates that the Mozambican economy has likely grown by only 1% in 2020 but that real gross domestic product... 

MRS tests new mobile rescue winder at South Deep 

3rd February 2021 Nonprofit organisation Mines Rescue Services on January 21 carried out testwork on a world-first mobile rescue winder that can go down to 3 000 m underground. Marleny Arnoldi attended the testing at Gold Fields’ South Deep mine, in Gauteng. 

MRS tests new mobile rescue winder at South Deep
MRS tests new mobile rescue winder at South Deep

Energy multinational outlines South Africa’s $100bn green hydrogen export opportunity  

By: Terence Creamer     2nd February 2021 French energy multinational Engie says that South Africa is ideally positioned, by virtue of its solar and wind endowments, to emerge as a global leader in the production of green hydrogen and derivative carbon-neutral fuels and chemicals, which could generate domestic and export revenues worth... 

Energy multinational outlines South Africa’s $100bn green hydrogen export opportunity

Act against Zuma or face worse economic conditions – Busa to Ramaphosa  

By: Thabi Madiba     2nd February 2021 Business Unity South Africa has appealed to President Cyril Ramaphosa to act decisively against former President Jacob Zuma by ensuring that the law takes its course in the matter of Zuma appearing before the Zondo Commission, or face exacerbated investor anxieties which will worsen the economic... 

Act against Zuma or face worse economic conditions – Busa to Ramaphosa
President Cyril Ramaphosa

UIF launches E-Complience Certificate system

By: Yvonne Silaule     2nd February 2021 The Unemployment Insurance Fund (UIF) has launched its highly anticipated E-Compliance Certificate online system as part of embracing technology to enable employers, small businesses and entrepreneurs to apply for a UIF compliance certificate (tender letter) without leaving the comfort of their... 

Embedded generation dynamics shifting from ‘buyer’s to seller’s market’  

By: Terence Creamer     2nd February 2021 Market dynamics for embedded generation projects in South Africa have shifted materially over the past 12 months as an increasing number of mines and power-heavy industrial firms moved to install renewable-energy facilities at a time when government is also starting to resume utility scale... 

Embedded generation dynamics shifting from ‘buyer’s to seller’s market’

Covid-19: SA records lowest number of daily infections since December

By: News24Wire      2nd February 2021 South Africa has recorded the lowest number of Covid-19 daily infections since the beginning of December last year. This was announced by President Cyril Ramaphosa during his televised address to the nation on Monday night. 

Covid-19: SA records lowest number of daily infections since December
President Cyril Ramaphosa

South Africa to get 2-million vaccine doses from COVAX by March – Ramaphosa

By: Reuters     2nd February 2021 South Africa will get 2-million doses of Covid-19 vaccines from the COVAX vaccine distribution scheme co-led by the World Health Organization and an African Union (AU) arrangement by March, President Cyril Ramaphosa said on Monday. "We have secured 12-million doses in total from the global COVAX... 

South Africa to get 2-million vaccine doses from COVAX by March – Ramaphosa
President Cyril Ramaphosa

Don't surprise us again, pleads liquor industry as Ramaphosa lifts sale ban

By: News24Wire      1st February 2021 While it is a relief that the liquor sales ban has been lifted, there should be "more structured engagement" from government with the sector so that they are not surprised with sudden restrictions, an industry representative has said.  President Cyril Ramaphosa's announced on Monday night that... 

Don't surprise us again, pleads liquor industry as Ramaphosa lifts sale ban

Reits offer potential in 2021, says association

By: Tasneem Bulbulia     1st February 2021 Real estate share prices and the underlying fundamentals of commercial property assets weakened in early 2020, as South Africa and the rest of the world came to grips with managing through the pandemic, says industry association the South Africa Reit Association chairperson Estienne de Klerk. He... 

PMI edges higher to 50.9 in January

By: Marleny Arnoldi     1st February 2021 The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) has edged up slightly to 50.9 points in January, from 50.3 in December. While higher month-on-month, the January reading is still much lower than the average recorded in the last quarter of 2020.  

Empowerment Capital reports R162m in venture capital investment over past 18 months

By: Schalk Burger     1st February 2021 Venture capital firm Empowerment Capital on February 1 announced that it had approved and placed a total of R162-million into 13 South African start-ups between July 2019 and February 2021, with R32.5-million approved for placement in three new ventures in the coming weeks. Although investment... 

Standard operating procedure can safeguard against vaccine corruption 

By: Schalk Burger     1st February 2021 Corruption in the procurement, distribution and administration of vaccines can not only be avoided, but stamped out entirely using a standard operating procedure, created by operators in the extended supply chain, for the clearance of international imports of the Covid-19 vaccines, saYS South... 

First batch of Covid-19 vaccines en route from India

By: Sashnee Moodley     1st February 2021 South Africa’s first consignment of Covid-19 vaccines will arrive in the country on Monday, from the Serum Institute of India, the world's largest vaccine manufacturer. One-million doses of the long-awaited Oxford/AstraZeneca vaccine will be rolled out to frontline health workers, as part of... 

First batch of Covid-19 vaccines en route from India

Mismanagement and corruption bedevils TERS benefits – Corruption Watch

By: Schalk Burger     1st February 2021 Using information from 126 whistleblower reports, anti-corruption nonprofit organisation Corruption Watch's 'Covid-19 TERS Corruption at Work' report reveals that mismanagement and corruption is preventing Temporary Employer / Employee Relief Scheme benefits from reaching all eligible employees.... 

Mismanagement and corruption bedevils TERS benefits – Corruption Watch

SBI says new Ombud is unnecessary, as per National Small Enterprise Amendment Bill

By: Marleny Arnoldi     1st February 2021 The Small Business Institute (SBI) has shared its discontent about certain provisions in the National Small Enterprise Amendment Bill, which has been gazetted for public comment, albeit not in “draft” format as is customary. The SBI is most concerned with the provisions in Chapter 3A, which the... 

SBI says new Ombud is unnecessary, as per National Small Enterprise Amendment Bill
SBI CEO John Dludlu

World Bank commits $12bn for vaccinations in Africa 

By: Bloomberg     1st February 2021 The World Bank has committed $12-billion to African countries to support vaccination programs, the South African Presidency said in a statement on its website on Saturday. The World Bank money will be in the form of grants or on “highly concessional terms,” South African President Cyril Ramaphosa... 

Eskom caps 2021 extra-revenue claim at R23bn, but tells court anything less will be ‘disastrous’ 

By: Terence Creamer     29th January 2021 State-owned power utility Eskom indicated during a court hearing on Friday that it would not seek to recover more than R23-billion in additional revenue through the tariff during its 2021/22 financial year, implying that any possible hike implemented on April 1 would be capped at about 15.5%.... 

Eskom caps 2021 extra-revenue claim at R23bn, but tells court anything less will be ‘disastrous’

Hudaco says business remains ‘solid’, despite trauma, hardship of 2020 

By: Simone Liedtke     29th January 2021 Describing 2020 as “a year of great trauma and hardship for people the world over”, branded automotive, industrial and electronic consumable product importer and distributor Hudaco’s headline earnings a share for the 2020 financial year, ended November 30, were down by 22.5% to R10.50, while... 

Hudaco says business remains ‘solid’, despite trauma, hardship of 2020
Hudaco CEO Graham Dunford gives more insight into the company's financial results. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Kganyago sees room to react to third virus wave

By: Bloomberg     29th January 2021 South Africa’s central bank has room to provide stimulus in the event of a third wave of coronavirus infections, according to Governor Lesetja Kganyago. “To the extent that there is a third wave that could hit South Africa and hit its economic activity, we have got the scope to respond,” Kganyago... 

Kganyago sees room to react to third virus wave
SARB governor Lesetja Kganyago

Eskom seeks to recover R23bn through courts amid tariff hike  

29th January 2021 The precise size of the upcoming tariff hike is not yet known as Eskom seeks to recover R23-billion more through the courts. Engineering News Editor Terence Creamer unpacks this complicated issue. 

Eskom seeks to recover R23bn through courts amid tariff hike
Eskom seeks to recover R23bn through courts, amid tariff hike

Covid-19 pandemic brings health inequalities, inequities into sharper focus, says NPC

By: Simone Liedtke     28th January 2021 The Covid-19 crisis has brought into sharper focus the realities and experiences of the poorest people of South Africa, which also brings into sharper focus the existing and more recent health inequalities and inequities, National Planning Commission (NPC) commissioner Professor Viviene Taylor... 

Covid-19 pandemic brings health inequalities, inequities into sharper focus, says NPC
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