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State Companies News

SA downgrade communicated last week – Gigaba

By: African News Agency      4th April 2017 Finance Minister Malusi Gigaba on Tuesday said he was informed of Standard and Poor (S&P) Global’s decision to cut South Africa’s sovereign credit rating to junk status last week, on his first day as finance minister. “When I spoke on Saturday, I indicated that I had spoken to Moody’s and Fitch,... 

Zuma says SA remains committed to fiscal consolidation

By: African News Agency      4th April 2017 The South African government remains committed to fiscal consolidation, President Jacob Zuma said on Tuesday as calls for his resignation grew louder in the wake of Standard and Poor (S&P) Global downgrading the country to junk status. Zuma said he had instructed Finance Minister Malusi Gigaba to... 

President  Jacob Zuma
Photo by Duane Daws
President Jacob Zuma

Calls for Zuma’s head increase after S&P downgrades South Africa to junk status

By: African News Agency      4th April 2017 Pressure mounted on President Jacob Zuma to resign on Monday night as political parties laid South Africa’s downgrade to junk status by Standard and Poor’s (S&P) squarely at his feet. The country’s biggest opposition party, the Democratic Alliance (DA), described the downgrade as a vote of no... 

Calls for Zuma’s head increase after S&P downgrades South Africa to junk status

Economics now key driver of commercial rooftop solar adoption as supply stabilises - juwi

By: Terence Creamer     3rd April 2017 Renewable energy engineering, procurement and construction services group juwi Renewable Energies expects the commercial solar market in South Africa to undergo a significant shift in the coming months as independent power producers (IPPs) begin playing a more prominent role. CEO Greg Austin says... 

The rooftop solar photovoltaic facility at Growthpoint’s Brooklyn Mall
The rooftop solar photovoltaic facility at Growthpoint’s Brooklyn Mall

Handover meeting between Gordhan and Gigaba postponed

By: African News Agency      3rd April 2017 National Treasury on Monday announced that the handover meeting between outgoing Finance Minister Pravin Gordhan and incoming Minister Malusi Gigaba had been postponed. In a terse statement on Twitter, Treasury said the meeting was postponed to allow the South African Revenue Services (Sars) to... 

Finance Minister Malusi Gigaba
Photo by Duane Daws
Finance Minister Malusi Gigaba

High-temperature reactor phoenix emerging from PBMR ashes? 

By: Terence Creamer     3rd April 2017 Early-stage research into the possible revival of the Pebble Bed Modular Reactor (PBMR) has yielded a revamped reactor concept that incorporates an entirely new operational philosophy, as well as the use of construction materials and manufacturing techniques that were either not considered or... 

Eskom chief nuclear officer David Nicholls
Photo by Duane Daws
Eskom chief nuclear officer David Nicholls

SA at crossroads as state capture undermines democracy – Jonas

By: News24Wire      31st March 2017 Axed Deputy Finance Minister Mcebisi Jonas on Friday said that state capture is a national issue all South Africans need to take a stand against. South Africa is at a crossroads which should not be taken lightly, said Jonas. 

Outgoing Deputy Finance Minister Mcebisi Jonas
Photo by Duane Daws
Outgoing Deputy Finance Minister Mcebisi Jonas

Pravin Gordhan – Our souls are not for sale

By: News24Wire      31st March 2017 Former Finance Minister Pravin Gordhan defended the integrity of Treasury and denied allegations that his removal had anything to do with so-called secret meetings intended to undermine the current government. Gordhan addressed media and staff at a briefing following his axing on the early hours... 

Pravin Gordhan & Mcebisi Jonas
Photo by Reuters
Pravin Gordhan & Mcebisi Jonas

Gordhan opens up about Habib Bank

By: News24Wire      31st March 2017 Sacked Finance Minister Pravin Gordhan on Friday said it’s up to his successor Malusi Gigaba to take decisions regarding Gupta-linked Vardospan’s bid to take over Habib Bank. Gordhan was speaking at a briefing at Treasury, following his axing on Friday morning. 

Outgoing Finance Minister Pravin Gordhan
Photo by Duane Daws
Outgoing Finance Minister Pravin Gordhan

Cabinet reshuffle places South Africa firmly in junk status crosshairs

By: Natasha Odendaal     31st March 2017 As South Africa reels from the news of another Cabinet reshuffle overnight, the damage to business confidence and a renewed threat of a ratings downgrade should not be underestimated. After a week of speculation, President Jacob Zuma on Thursday night made sweeping changes to his Cabinet,... 

Econometrix chief economist Dr Azar Jammine
Econometrix chief economist Dr Azar Jammine

Gordhan is inciting a revolution – eThekwini ANCYL 

By: African News Agency      31st March 2017 The African National Congress Youth League (ANCYL) in eThekwini Region has accused outgoing Finance Minister Pravin Gordhan of inciting a revolution, saying that it was extremely concerned at the nature and content of his media briefing. “Never in a million years did we imagine a day where a... 

Outgoing Finance Minister Pravin Gordhan
Photo by Reuters
Outgoing Finance Minister Pravin Gordhan

Teacher union lashes Zuma over Muthambi appointment

By: African News Agency      31st March 2017 The South African Democratic Teachers Union (Sadtu) on Friday accused President Jacob Zuma of “rewarding mediocrity” after he moved Faith Muthambi from the communications ministry to become the new Minister of Public Service and Administration through a cabinet reshuffle that has drawn wide... 

Teacher union lashes Zuma over Muthambi appointment

Treasury has been captured – EFF 

By: African News Agency      31st March 2017 South Africa’s Treasury has been captured by the controversial Gupta family who have used President Jacob Zuma as their tool, the Economic Freedom Fighters (EFF) said on Friday. “This Treasury and the country have been captured…we are in a crisis, we are going to do anything in our power to fight... 

EFF leader Julius Malema
Photo by Reuters
EFF leader Julius Malema

Gigaba meets Treasury Exco, to brief media on Saturday

By: African News Agency      31st March 2017 South Africa’s new Finance Minister Malusi Gigaba would meet with the National Treasury executive committee on Friday as he prepared to take over control of the public purse, his office said. In a short statement, Gigaba’s office said he was humbled by his appointment to serve the country and its... 

Finance minister designate Malusi Gigaba
Photo by Duane Daws
Finance minister designate Malusi Gigaba

Outa seeks legal action in the wake of Cabinet Reshuffle

By: African News Agency      31st March 2017 The Organisation Undoing Tax Abuse (Outa) said on Friday that it was exploring legal action and would persuade influential people in authority to support this objective following the axing of outgoing Finance Minister Pravin Gordhan. Outa’s decision to seek legal action comes after the Democratic... 

Outa Chairperson Wayne Duvenage
Outa Chairperson Wayne Duvenage

ANC calls for unity following Zuma's reshuffle

By: News24Wire      31st March 2017 The African National Congress (ANC) on Friday neither welcomed nor condemned President Jacob Zuma’s Cabinet reshuffle. Instead, the party called for its members to display unity. 

ANC calls for unity following Zuma's reshuffle

DA asks Mbete for urgent sitting over reshuffle

By: News24Wire      31st March 2017 Democratic Alliance (DA) chief whip John Steenhuisen has written to National Assembly Speaker Baleka Mbete to ask for a debate of a motion of no confidence in President Jacob Zuma. Parliament goes on recess for the Easter holidays on Friday, and only resumes in May. 

National Assembly Speaker Baleka Mbete
National Assembly Speaker Baleka Mbete

Mixed reactions to Zuma reshuffle

By: News24Wire      31st March 2017 The African National Congress Women's League (ANCWL) and government have welcomed the appointment of new ministers, amid growing opposition to President Jacob Zuma's Cabinet reshuffle. The ANCWL's Moekgo Matuba applauded Zuma for being cognisant of the gender parity policy of the ANC and... 

President Jacob Zuma
Photo by Reuters
President Jacob Zuma

Sky will not fall under Gigaba's leadership – ANCYL

By: News24Wire      31st March 2017 The sky will not fall under new Finance Minister Malusi Gigaba, in spite of scare-mongers, the African National Congress Youth League (ANCYL) said on Friday. "The ANC Youth League is excited, happy, overjoyed and jubilant at the announcement by President Jacob Zuma on the Cabinet reshuffle,"... 

Incoming Finance Minister Malusi Gigaba
Photo by Duane Daws
Incoming Finance Minister Malusi Gigaba

Ramaphosa against Gordhan’s removal 

By: African News Agency      31st March 2017 Deputy President Cyril Ramaphosa on Friday expressed his dissatisfaction with the sacking of Finance Minister Pravin Gordhan, adding that President Jacob Zuma presented the top African National Congress (ANC) leadership with a “ready made” list of the new Cabinet without consultation. Ramaphosa... 

Deputy President Cyril Ramaphosa
Photo by Reuters
Deputy President Cyril Ramaphosa

Only crime Gordhan, Jonas committed was being incorruptible – Jackson Mthembu

By: News24Wire      31st March 2017 The only crime Pravin Gordhan and Mcebisi Jonas have committed is being incorruptible, African National Congress (ANC) chief whip Jackson Mthembu says. The chief whip has been a staunch and vocal supporter of the former finance minister and his deputy, calling for party leaders to rally behind them. 

ANC Chief Whip Jackson Mthembu
ANC Chief Whip Jackson Mthembu

Fired ministers not lost to ANC – Duarte

By: News24Wire      31st March 2017 While they may not agree with President Jacob Zuma's choices, the African National Congress (ANC) must still rally behind new and old Cabinet ministers, party deputy secretary general Jessie Duarte said on Friday. "Congratulations to all the new ministers appointed by the President. Ministers who... 

ANC deputy secretary general Jessie Duarte
ANC deputy secretary general Jessie Duarte

Thanks, and goodbye – Gordhan

By: African News Agency      31st March 2017 Axed finance minister Pravin Gordhan on Friday paid tribute to ordinary South Africans for their support during his tenure at the helm of National Treasury. “Thank you very much for being here, and for demonstrating this solidarity. We have had a meeting with the staff of the Treasury and we said... 

Outgoing Finance Minister Pravin Gordhan
Photo by Duane Daws
Outgoing Finance Minister Pravin Gordhan

Gigaba will do Guptas' bidding – SACP

By: News24Wire      31st March 2017 Incoming finance minister Malusi Gigaba was selected solely to do the Gupta family’s bidding at the Treasury, the South African Communist Party (SACP) said on Friday. "The Guptas have almost, now with the removal of [Finance Minister] Pravin Gordhan, ensured that they have unfettered access to... 

Incoming Finance Minister Malusi Gigaba
Photo by Duane Daws
Incoming Finance Minister Malusi Gigaba

Be positive! - axed Tourism Minister Derek Hanekom

By: News24Wire      31st March 2017 South Africans must remain positive following the mass Cabinet reshuffle by President Jacob Zuma, outgoing Tourism Minister Derek Hanekom said on Friday. He took to Twitter on Thursday evening to thank people for their support. 

Outgoing Tourism Minister Derek Hanekom
Outgoing Tourism Minister Derek Hanekom

'Government, it’s not for me' – Ramatlhodi

By: News24Wire      31st March 2017 Outgoing Public Administration Minister Ngoako Ramatlhodi was not informed that his time as member of President Jacob Zuma's Cabinet had come to an end. Speaking to News24 while playing a game of golf on Friday morning, he said he had accepted that Zuma no longer wanted him to serve as a minister. 

Outgoing Public Administration Minister Ngoako Ramatlhodi
Photo by Duane Daws
Outgoing Public Administration Minister Ngoako Ramatlhodi

Only hope for SA now is to remove ANC – EFF

By: News24Wire      31st March 2017 The Economic Freedom Fighters (EFF) has called the Cabinet reshuffle a continuation of a plan to "place Treasury in the hands of an individual whose only qualification is his loyalty to the Gupta family". Economic Freedom Fighters spokesperson Mbuyiseni Ndlozi said the party rejected the... 

Only hope for SA now is to remove ANC – EFF

Cope calls for mass Cabinet resignation

By: News24Wire      31st March 2017 The Congress of the People (Cope) has called for a mass resignation by Cabinet in protest against President Jacob Zuma's reshuffle, which saw Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas among those removed. "In our view this was not a genuine and honest Cabinet reshuffle based on... 

Cope calls for mass Cabinet resignation

Cabinet Reshuffle hands over Treasury to Gupta family – EFF 

By: African News Agency      31st March 2017 The Economic Freedom Fighters (EFF) on Friday rejected the President Jacob Zuma’s reshuffling of the Cabinet, saying that it is nothing else but a handover of the country’s Treasury to the Gupta family, Zuma’s close friends. “The entire reshuffle was nothing other than a target at the Ministry of... 

Cabinet Reshuffle hands over Treasury to Gupta family – EFF

Zuma ‘just plunged country into crisis’ – Saftu

By: African News Agency      31st March 2017 The South African Federation of Trade Unions (Saftu) on Friday accused President Jacob Zuma of having plunged the country into a crisis after a sweeping Cabinet reshuffle in which he fired the finance minister and his deputy. The new federation urged South Africans to take to the streets in protest. 

President Jacob Zuma
Photo by Reuters
President Jacob Zuma

Cosatu, SACP to meet after Cabinet reshuffle

By: African News Agency      31st March 2017 Leaders of two tripartite alliance members – the Congress of South African Trade Unions (Cosatu) and the South African Communist Party (SACP) – are scheduled to hold separate meetings after a late night Cabinet reshuffle by President Jacob Zuma. None of the SACP leaders in Zuma’s Cabinet was... 

Cosatu, SACP to meet after Cabinet reshuffle

Sugar industry reduces haulage costs by R38m

By: Robyn Wilkinson     31st March 2017 The South African sugar cane industry should be congratulated on the progress it has made over the past ten years in improving the efficiency of its haulage system in line with the South African National Roads Agency’s Road Traffic Management System (RTMS), says South African Cane Growers’... 

New agroprocessing-, metals-focused Ipap to be released in April

By: Schalk Burger     31st March 2017 A new Industrial Policy Action Plan (Ipap) focused on supporting the agroprocessing and metals industries, including foundries and the casting sector, will be released in April, Department of Trade and Industry (DTI) director-general Lionel October says. “We are aiming to strategically support... 

LIONEL OCTOBER
The DTI is emphasising the importance of the fourth industrial revolution and modernising and upgrading the metals and casting industries
Photo by Duane Daws
LIONEL OCTOBER The DTI is emphasising the importance of the fourth industrial revolution and modernising and upgrading the metals and casting industries

Eskom board probes allegations of impropriety against acting chief executive

By: African News Agency      30th March 2017 Eskom's board on Thursday said it had initiated a probe into allegations that acting CE Matshela Koko’s stepdaughter’s shareholding in Impulse International – a company which won nine tenders from the power utility worth a billion rand. In a statement Eskom said its “board resolved, in its... 

Eskom to fast-track socioeconomic assessments for five coal stations facing closure 

By: Terence Creamer     30th March 2017 Public Enterprises Minister Lynne Brown has called on Eskom to urgently complete socioeconomic impact assessments for its coal-fired power stations in Mpumalanga, five of which having been earmarked for decommissioning over the coming five years, owing to flat demand and the introduction of new... 

Eskom to fast-track socioeconomic assessments for five coal stations facing closure

TPT awarded multipurpose terminal depot licences

By: Natasha Odendaal     28th March 2017 The South African Revenue Service has granted Transnet Port Terminals (TPT) new depot licences for all its multipurpose terminals (MPTs) for the packing and unpacking of containers for all commodities, including agri, mineral and mining bulk products. This enables State-owned TPT to efficiently... 

BLSA calls for cool heads after Gordhan’s mid-roadshow return

By: Natasha Odendaal     28th March 2017 Business Leadership South Africa (BLSA) has cautioned on the consequences of the ill-advised, “unexpected and unexplained” request by President Jacob Zuma for Finance Minister Pravin Gordhan to return to South Africa midway through an international investor roadshow to the UK and the US. The... 

President Jacob Zuma and Finance Minister Pravin Gordhan
Photo by Duane Daws
President Jacob Zuma and Finance Minister Pravin Gordhan
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