Economists recognise Budget’s balancing act efforts, laud increased Sars funding to boost capacity

Economists have widely recognised the efforts of Finance Minister Enoch Godongwana in the Budget tabled on March 12 to balance fiscal sustainability and economic growth. Standard Bank South Africa... 

Favourable trade metrics boost Hyprop’s interim distributable income growth by 14.5%

JSE- and A2X-listed specialist property retail fund Hyprop Investments has achieved double-digit growth of 14.5% year-on-year in its distributable income to R765-million for the six months ended... 

Godongwana burdens wine sector with ‘unworkable’ tax regime, industry body says

Industry body South Africa Wine has expressed strong condemnation towards Finance Minister Enoch Gogongwana’s decision to implement “excessive” excise tax increases on wine. The organisation says... 

Budget adds strain to mining employees, but other aspects support economy

Following Finance Minister Enoch Godongwana’s delivery of the national Budget speech on March 12, Minerals Council South Africa says the mining sector’s employees will be impacted on in various... 

Macroeconomics support 3.9% interim DIPS growth for Growthpoint Properties

JSE-listed real estate investment trust (Reit) Growthpoint Properties has increased its distributable income per share (DIPS) for the six months ended December 31, 2024, by 3.9% year-on-year to... 

Scoping study confirms viability of Lotus’s Botswana uranium project

ASX-listed Lotus Resources notes that a scoping study on the Letlhakane uranium project, in Botswana, confirms the viability of a ten-year operation producing three-million pounds a year of... 

Prospect declares world-class maiden resource for Mumbezhi project in Zambia

ASX-listed Prospect Resources has announced a maiden mineral resource estimate (MRE) of 107-million tonnes grading 0.5% copper, for a total 515 000 t total contained copper, on the Mumbezhi copper... 

IMF suggests continued reform, public wage adjustments can accelerate GDP growth

If South Africa continues to implement structural reforms in the electricity and logistics sectors, as well as in respect of business enablement, the economy could reach a 3% GDP growth rate, says... 

Treasury opens first window of applications for public sector megaproject financing

National Treasury has invited national, provincial and municipal spheres of government, as well as public entities, to apply for funding under the Budget Facility for Infrastructure (BFI) that was... 

Committee bemoans lack of govt communication amid AMSA longs wind-down

As talks intensified earlier this year between primary steel producer ArcelorMittal South Africa (AMSA) and government to mitigate the impacts of AMSA’s wind-down of its longs business, the Select... 

Ramaphosa calls for agri growth agenda biased toward empowering black farmers

While agriculture has been a mainstay of growth in South Africa’s economy over the last three decades, the industry cannot be sustainable without addressing issues of equity and inclusion in... 

Incoming €100m Soufflet Malt factory supports South African barley growers

French multinational malt producer Soufflet Malt will invest €100-million in a new malting factory on the site of beer brewer Heineken’s Sedibeng brewery, in Gauteng, that will support more than... 

Bidvest advances Citron Hygiene acquisition after UK approval

Trading and distribution group Bidvest has garnered approval from the UK Competition and Markets Authority to acquire Citron Hygiene. The parties are now working towards closing the deal. 

Occupational Lung Disease Working Group lauds Tshiamiso Trust milestone

The Occupational Lung Disease Working Group has lauded the work done by the Tshiamiso Trust, which has paid out R2-billion in settlements to claimants so far. The working group comprises six... 

Kenmare rejects buyout offer from Oryx, Michael Carvill

London-listed titanium minerals miner Kenmare Resources has informed shareholders that it has received a nonbinding proposal from Oryx Global Partners and Kenmare founding MD Michael Carvill,... 

Sappi prices €300m notes in refinancing effort

After announcing a €300-million senior notes offer on March 3, JSE-listed pulp and paper producer Sappi has successfully priced the bond offering for its subsidiary Sappi Papier Holding, allowing... 

Oriole uncovers highest grades from Mbe drilling so far

Aim-listed Oriole Resources has advanced about 30% with a maiden drilling programme over a target at the Mbe gold project, in Cameroon, having drilled 2 200 m across seven holes. Oriole owns 90%... 

Industry stalwart Campbell calls for urgent action to address SA’s infrastructure challenges

While government has made progress in improving policies affecting the built environment, such as the Public Procurement Act, Consulting Engineers South Africa (CESA) CEO Chris Campbell warns that... 

Steenhuisen warns of massive knock to citrus, other commodities if Agoa expires

Agriculture Minister John Steenhuisen stresses that South Africa’s citrus industry stands to lose a lot if the US decides not to extend the country’s benefits under the African Growth and... 

Minerals Council voices concern about dwindling mining investment

Following a quarterly decline in the third quarter’s real GDP, growth bounced back in the fourth quarter of last year, which the Minerals Council South Africa says bodes well for all sectors;... 

Tirupati ramps up production of flake graphite as executive turbulence stabilises

London-listed Tirupati Graphite remains on track to achieve a production rate from the Vatomina graphite project, in Madagascar, of 600 t a month by the end of April, 1 000 t a month by July 31 and... 

GDP recovering slowly and unevenly, but ‘it is a start’

Statistics South Africa has reported that GDP increased by 0.6% in the fourth quarter of last year, following a contraction of 0.1% in the third quarter. GDP for the full 2024 also grew by 0.6%.... 

Schneider appoints digital energy director for Anglophone Africa

Energy management and automation company Schneider Electric has appointed Hilton Baartman digital energy director for Anglophone Africa. Baartman is an award-winning executive with a diverse... 

Kavango completes first drilling at Prospect 3, looks to trial mine before year-end

London-listed diversified miner Kavango Resources has successfully completed an initial resource drilling programme at the Prospect 3 target on the Hillside gold project, in Zimbabwe. The... 

Sea Harvest profit dips on low catch rates, tough market conditions

JSE-listed seafood, aquaculture and agroprocessing company Sea Harvest says last year was its toughest financial year since listing on the JSE in 2017, with its performance having been impacted on... 

Long-serving MIC CEO steps down

Investment firm Mineworkers Investment Company (MIC) has announced that Mary Bomela has stepped down as CEO at the end of February following 15 years of involvement with the organisation. The... 

Lexington announces secondary listing in US

London-listed gold producer Lexington Gold, which operates in South Africa and the US, has started trading its shares on the OTCQB Venture Market, in the US. The company identified increasing... 

RCL posts 25% increase in earnings

JSE-listed food manufacturer RCL Foods has delivered a solid performance for the six months ended December 31, having increased its earnings before interest, taxes, depreciation and amortisation... 

PPC turnaround plan yields earnings improvements

JSE-listed cement and construction materials company PPC says its turnaround plan continues to yield positive benefits as evidenced in the company’s performance for the ten months ended January 31.... 

Experts advocate for goat commercialisation as major economic growth driver

With South Africa’s goat industry being largely based in the informal sector, stakeholders such as the Agricultural Research Council (ARC) are increasing efforts to commercialise the goat meat... 

Mike Teke to lead Southern Africa chapter of FutureCoal

Global association for the sustainable use of coal FutureCoal on February 13 announced Seriti Resources group CEO Mike Teke as chairperson of its newly established Southern Africa chapter. He will... 

New partnership at Cape Town Container Terminal to drive increased exports

Stakeholders in the export-orientated fruit value chain, including the Western Cape government and Transnet Port Terminals (TPT), have announced a new collaboration aimed at enhancing operations at... 

WFDB warns of new US customs requirements for diamond traders

World Federation of Diamond Bourses president Yoram Dvash has advised that, as of April, US customs will require the reporting of diamonds’ country of mining origin and country of origin details.... 

Portfolio committee investigates retrenchment rumours at Mpumalanga mines

Portfolio Committee on Mineral and Petroleum Resources chairperson Mikateko Mahlaule has expressed concern about reports of mass retrenchments at mining companies in Mpumalanga. The committee is... 

Canyon nears completion of Minim Martap DFS

ASX-listed bauxite developer Canyon Resources says it remains on schedule to complete a definitive feasibility study (DFS) on the Minim Martap project, in Cameroon, during the third quarter of the... 

Only through partnerships can built environment adapt to climate change - Zikalala

As the local and international macroeconomic landscape becomes more volatile, uncertain, complex and ambiguous owing to climate change and increasing instances of extreme heat and flooding, it... 

SAPA warns against looming outbreaks of bird flu as vaccination still lags

The South African Poultry Association (SAPA) has expressed concern over another potential widespread Highly Pathogenic Avian Influenza (HPAI) outbreak in South Africa, since the virus typically... 

AgriSA to discuss trade matters, sustainability support at B20

Industry body AgriSA has announced that it will partake in the Business 20 (B20) South Africa Summit on February 24 and 25, in Cape Town. The event, which will connect the business community with... 

Poultry Master Plan bearing fruit through exceeded investment targets

Trade, Industry and Competition Deputy Minister Zuko Godlimpi and Agriculture Deputy Minister Nokuzola Capa have attributed the 52 930 jobs retained by the poultry industry in recent years to the... 

Petition for release of Potgieter, Huxham reaches 15 000 signatories

The spokespeople for the families of Frik Potgieter and Peter Huxham, who have been detained in Equatorial Guinea for more than two years, over what is believed to be fabricated charges, have...