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Macro & Micro

AfCFTA investment protocol has international best practices, dispute settlement annex still outstanding
Updated 4 hours ago By: Schalk Burger

Continental trade bloc the African Continental Free Trade Area (AfCFTA) aims to integrate regional trade blocs to unlock synergies to drive more intra-African trade and enable countries to derive... 


EWSETA CEO Mpho Mookapele
EWSETA develops, implements specialised renewable energy, water training programmes
Updated 5 hours ago By: Darren Parker

To support the development of critical skills within the water and energy sector, the Energy and Water Sector Education and Training Authority (EWSETA) is developing and implementing specialised... 


National Treasury director-general Dr Duncan Pieterse
PPP reforms could avert need for prescribed-assets policy to increase private infrastructure investment – Pieterse
Updated 7 hours ago By: Terence Creamer

National Treasury director-general Dr Duncan Pieterse says the reforms being proposed to facilitate greater private sector investment into infrastructure could obviate the need to introduce a... 


An aerial view of the Port of Durban
Absa PMI rises to 51.7 in February, but business activity remains subdued
1st March 2024 By: Schalk Burger

Financial services firm Absa's Purchasing Managers Index (PMI) increased to 51.7 points in February, from 43.6 in January, but business activity remains subdued. Of the five subcomponents of the... 


Deputy Minister of Small Business Development Dipuo Peters
Ramaphosa suspends Dipuo Peters without pay
1st March 2024 By: Sashnee Moodley

Deputy Minister of Small Business Development Dipuo Peters has been suspended for one month, without pay, by President Cyril Ramaphosa, following a sanction from Parliament’s Joint Committee on... 


South Africa records R9.4bn trade deficit for January
29th February 2024 By: Sabrina Jardim

Trade statistics for January, released by the South African Revenue Services on February 29, show a preliminary trade deficit of R9.4-billion, an improvement from the R24.4-billion trade deficit... 


WTO director general Ngozi Okonjo-Iweala led discussions at the organisation's Ministerial meeting in Abu Dhabi this week
India, South Africa block major investment deal at WTO talks
29th February 2024 By: Reuters

India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization (WTO) meeting in Abu Dhabi, blocking its adoption in a move that observers say... 


M&A activity in Africa may improve this year but challenges remain
28th February 2024 By: Schalk Burger

Merger and acquisition (M&A) activity in Africa experienced a sharp decline in 2023 compared with 2022, but there are signs of improvement for this year. Key factors that contributed to the... 


DA leader John Steenhuisen
Multi-Party Charter reveals its plans to end loadshedding if ANC can be ousted
28th February 2024 By: Darren Parker

The 11 political parties that are members of the Multi-Party Charter (MPC) for South Africa have voiced a unified plan to end loadshedding once and for all if only they could collectively oust... 


Africa with country flags
Africa's debt to stay above pre-pandemic levels through 2025, UN official says
28th February 2024 By: Reuters

Africa's public debt will stay above pre-pandemic levels in 2024 and 2025, with many countries still at risk of falling into debt distress as they continue to struggle to service international... 


AECI CEO Holger Riemensperger
Amid disposals, AECI aligns internationalisation strategy to regions geared for rapid critical minerals growth
28th February 2024 By: Terence Creamer

JSE-listed AECI, which is undergoing far-reaching restructuring to re-focus on its core mining and chemicals businesses and reduce debt, reports strong initial interest in the six noncore companies... 


South Africa, Germany sign agreement on labour issues
28th February 2024 By: Rebecca Campbell

The South African Department of Employment and Labour announced on Wednesday that it had signed a Joint Declaration of Interest (JDI) with Germany’s Labour and Social Affairs Department. The JDI... 


Ewseta CEO Mpho Mookapele
TVET colleges ‘not in a good state’ – Ewseta
27th February 2024 By: Darren Parker

South Africa’s technical and vocational education and training (TVET) colleges are not in a good state, Energy and Water Sector Education and Training Authority (Ewseta) CEO Mpho Mookapele has... 


worker doing training
Industry failure to report skills requirements undermining economic growth
27th February 2024 By: Darren Parker

The Energy and Water Sector Education and Training Authority (Ewseta) has said it cannot accurately determine critical skills needs in the sector because industry participants do not accurately... 


Avos and other fruit in crates
South African food inflation continued to decelerate in January
27th February 2024 By: Rebecca Campbell

In January, for the second month in a row, South African food and non-alcoholic beverage (NAB) inflation (hereafter to be referred to as food inflation, for short) declined, in year-on-year terms,... 


Rhinos
Rhino poaching in South Africa increases in 2023
27th February 2024 By: Reuters

South Africa recorded 499 rhinos poached in 2023, 51 more than the previous year, despite efforts to protect the animals, the government said on Tuesday. South Africa is home to nearly half of the... 


Deputy President Paul Mashatile
169 Zondo Commission 'recommendations' still under investigation – Mashatile
27th February 2024 By: Sashnee Moodley

The Integrated Task Force, set up by the National Prosecuting Authority and the Hawks, is coordinating the implementation of 205 'recommendations' that came out of the Zondo Commission of Inquiry... 


Sars commissioner Edward Kieswetter
Kieswetter's term as Sars commissioner extended by two years
27th February 2024 By: Creamer Media Reporter

President Cyril Ramaphosa has extended South African Revenue Service (Sars) commissioner Edward Kieswetter's term of office by two years to enable an orderly leadership transition in the... 


Sasol CEO Fleetwood Grobler
Sasol prioritising coal de-stoning investment as it seeks to allay fears over big Secunda output dip
26th February 2024 By: Terence Creamer

Energy and chemicals group Sasol has moved to address investor concerns that its yearly production at Secunda will need to fall to only 6.7-million tons for it to meet its goal of reducing the... 


Deloitte's head office, in Midrand
Onus largely on private sector to recover economy, says Deloitte
26th February 2024 By: Marleny Arnoldi

With the 2024/25 national Budget not having provided much relief to taxpayers, and the economy having a high debt to gross domestic product (GDP) ratio and slow growth rates, South Africans need to... 


Econometrix director and chief economist Dr Azar Jammine
Budget shows an economy treading water, not collapsing – Jammine
23rd February 2024 By: Darren Parker

Although Finance Minister Enoch Godongwana’s Budget, delivered on February 21, seemed somewhat prudent, Econometrix director and chief economist Dr Azar Jammine said there was not much in it to... 


Solar panels
Another 124 power plants registered with Nersa raising total to 1 087 since 2018
23rd February 2024 By: Terence Creamer

The National Energy Regulator of South Africa (Nersa) reports that a further 124 generation facilities were registered during the third quarter of its financial year from October to December,... 


Treasury backs Central Bank inflation target review
23rd February 2024 By: Bloomberg

National Treasury said there’s a case to be made for the central bank’s inflation target to be reviewed to improve competitiveness and given the adverse impact price growth has on the poor. The... 


Transition to the green economy offers great opportunities for women, but problems remain
22nd February 2024 By: Rebecca Campbell

The move to a green economy is a move to a more feminine economy, affirmed KD Strategies founding director Katnisha Singh on Thursday. She was participating in a panel discussion at the Women in... 


Busa CEO Cas Coovadia
Budget seen as realistic, generally positive in economic context
22nd February 2024 By: Schalk Burger

Business organisations Business Leadership South Africa (BLSA) and Business Unity South Africa (Busa) said the 2024 Budget presented by Finance Minister Enoch Godongwana on February 21, was... 


A conference room
Global corporate tax minimum to be implemented this year
21st February 2024 By: Darren Parker

In an effort boost tax revenue going forward, government will be implementing the long-awaited global corporate tax minimum in the coming year, Finance Minister Enoch Godongwana revealed upon the... 


Petrol pumps
No change to fuel levies this year, Godongwana says
21st February 2024 By: Darren Parker

Government has decided once again to leave the general fuel levy and Road Accident Levy Fund unchanged, resulting in tax relief of about R4-billion. This was announced at the release of Finance... 


70 out of 72 municipalities approved for Eskom debt relief
21st February 2024 By: Darren Parker

Out of 72 municipality applications for State-owned Eskom debt relief, 70 have been approved, Finance Minister Enoch Godongwana revealed in his 2024 Budget on February 21. The 72 applicants... 


Finance Minister Enoch Godongwana
Godongwana draws down R150bn from gold and forex account to reduce borrowings and debt-service costs
21st February 2024 By: Terence Creamer

Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government’s treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in... 


Western Cape Premier Alan Winde
Western Cape already being hit by climate change, seeking to make itself resilient
21st February 2024 By: Rebecca Campbell

The Western Cape is already feeling the effects of climate change, provincial Premier Alan Winde highlighted on Wednesday. He was addressing the Africa Green Economy Summit 2024, in Cape Town. The... 


Consumers
South African inflation picks up in January
21st February 2024 By: Reuters

South Africa's headline consumer inflation quickened to 5.3% year on year in January from 5.1% in December, data showed on Wednesday. Key contributors to the annual inflation rate included food,... 


Photo of Terence Creamer
2024 Budget highlights
21st February 2024

Engineering News editor Terence Creamer discusses the key topics raised by Finance Minister Enoch Godongwana in his 2024 Budget speech. 


President Cyril Ramaphosa
Ramaphosa sets May 29 election date
20th February 2024 By: Reuters

South Africa will hold national and provincial elections on May 29, President Cyril Ramaphosa's office said on Tuesday. "I call on all South Africans to exercise their democratic right to vote and... 


metal works with sparks
Metals, engineering output up 1.7% but still far below 2008/9 peak
20th February 2024 By: Darren Parker

While aggregate production in the South African metals and engineering sector increased by 1.7% last year, which is slightly higher than the 1.5% increase in 2022, it remains 18% below where it was... 


SA Canegrowers maintains sugar tax increase will destroy jobs
20th February 2024 By: Marleny Arnoldi

Ahead of Finance Minister Enoch Godongwana’s Budget Speech on February 21, industry body the South African Cane Growers’ Association (SA Canegrowers) has called on National Treasury to prioritise... 


Unemployed persons sitting on a kerb
Unemployment rate to remain high this year, Nedbank warns
20th February 2024 By: Schalk Burger

Financial services firm Nedbank expects employment growth to soften this year, before picking up more convincingly next year. “The unemployment rate will, therefore, remain high,” the bank said on... 


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