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Economy

Treasury says equity injection can be averted as it unveils R47bn Transnet guarantee
1st December 2023 By: Terence Creamer

A R47-billion guarantee facility, effective immediately, has been extended to struggling State-owned freight logistics group Transnet in support of its recovery plan and to meet its immediate debt... 


COP 28 to host fossil fuels debate
1st December 2023 By: Halima Frost

This year’s Conference of the Parties to the United Nations Framework Convention on Climate Change, referred to globally as COP 28 and being held from November 30 to December 12 in Dubai in the... 


Commission addressing gaps, challenges in BBBEE
30th November 2023 By: Tasneem Bulbulia

The Broad-based Black Economic Empowerment (BBBEE) Act, now in its twentieth year, has achieved several successes, but challenges abound, and transformation is not at the requisite level, and the... 


Mantashe says special Cabinet meeting will consider IRP update after Ministers request time to ‘apply their minds’
30th November 2023 By: Terence Creamer

Mineral Resources and Energy Minister Gwede Mantashe confirmed that an update of the Integrated Resource Plan, which he has previously dubbed ‘IRP2023’, had served before Cabinet on November 29,... 


Hudaco to acquire Plasti-Weld for its engineering consumables segment
30th November 2023 By: Schalk Burger

JSE-listed Hudaco will acquire the trading assets and liabilities of specialist plastic equipment importer Plasti-Weld Business from December 1 for a maximum of R56-million, which will be funded... 


Four utility-scale battery projects worth R10bn selected following inaugural public tender
30th November 2023 By: Terence Creamer

The South African government has selected preferred bidders for the development of four utility-scale battery energy storage system (BESS) projects in the Northern Cape, with a combined investment... 


Durban Container Terminal increases working hours to clear backlog, amongst other measures
30th November 2023 By: Darren Parker

The Durban Container Terminal (DCT) Pier 2 has increased the ship working hours at some of its berths over the last few days to clear the backlog of vessels at anchor, Durban Terminals has... 


Presidency study urges doubling of Climate Finance
30th November 2023 By: Bloomberg

South Africa needs to more than double climate financing to achieve its emissions reduction targets, according to a study by the Presidential Climate Commission. Current annual average funding of... 


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Budget

SA debt stress: Govt scrambles to borrow more money
10th November 2023

The South  African government, which is being forced to sell ever more debt than planned because it’s spending more than it makes, is unlikely to reverse this spiral any time soon - especially not... 


Business says Medium-Term Budget lacks clear fiscal plan
2nd November 2023

Business noted on Thursday that while Finance Minister Enoch Godongwana outlined government’s strategy to avoid a full-blown fiscal crisis and systemic risks to the economy, it is concerned that... 


Medium-term budget in a nutshell: It’s going to hurt
1st November 2023

Treasury has been forced to make painful revisions to the latest Medium-Term Budget Policy Statement, which updates government’s spending plans over the next three years, after its expectations in... 


Competition Policy

Tribunal prohibits AkzoNobel's proposed acquisition of Plascon entities in Africa
21st November 2023

The Competition Tribunal has issued an order prohibiting the proposed merger of Amsterdam-based chemicals company AkzoNobel and paint and coatings manufacturers Kansai Plascon Africa (KPA) and... 


SCB to pay R42.7m penalty in exchange rate manipulation matter
15th November 2023

The Competition Commission reports that it has reached a settlement agreement with UK-based multinational bank Standard Chartered Bank (SCB), in which SCB admits liability to the manipulation of... 


Commission recommends tribunal approve Afrimat's proposed buyout of Lafarge but with conditions
6th November 2023

The Competition Commission has recommended that the Competition Tribunal approve the proposed transaction whereby Afrimat intends to acquire Lafarge, with conditions. The commission found that the... 


Labour

BMA assures strike at Lebombo border will not disrupt services
18th October 2023

The Border Management Authority (BMA) has assured that the planned strike action at the Lebombo border by the Nkomazi community on October 18 will be closely monitored to ensure no disruption of... 


Waste industry can mitigate unemployment
6th October 2023

South Africa needs more companies to implement effective waste management systems and principles in their value chains to effect a more circular economy. The country needs a focus on waste... 


TESD increases awareness for industry issues
6th October 2023

Industry body the Temporary Employment Services Division (TESD) – as an affiliate of the Constructional Engineering Association (CEA) – continuously embarks on initiatives for members, non-members... 


Legislative Environment

Access to water, logistics infrastructure major hurdles to hydrogen economy
30th November 2023

One of the challenges standing in the way of South Africa becoming a world-class green hydrogen producer is that South Africa is a water-scarce country, and that enormous volumes of water are... 


Standard Bank denies currency manipulation allegations
27th November 2023

Financial services provider Standard Bank has denied manipulating the value of the rand and having any involvement in anticompetitive or criminal conduct, despite admitting fault before the... 


Prosecutions coupled with zero-tolerance culture key to fighting SA’s corruption scourge
24th November 2023

Corruption has long been an unhappy and increasingly harmful feature of the South African political, economic and business landscape. The extreme scale of this insidious problem came into sharp... 


Macro & Micro

Sasol appoints adviser to search for Boegoebaai hydrogen export hub coinvestors
1st December 2023

A financial adviser has been appointed to assist Sasol in a search for potential coinvestors into a green hydrogen and ammonia export hub at Boegoebaai, in the Northern Cape, following the... 


Factory manager outlook worst since Covid lockdown
1st December 2023

Factory managers in South Africa are the most pessimistic they’ve been about the outlook for business conditions since the strictest months of a Covid-19 lockdown three years ago, amid continuing... 


Mantashe says special Cabinet meeting will consider IRP update after Ministers request time to ‘apply their minds’
30th November 2023

Mineral Resources and Energy Minister Gwede Mantashe confirmed that an update of the Integrated Resource Plan, which he has previously dubbed ‘IRP2023’, had served before Cabinet on November 29,... 


State Companies

Durban Container Terminal increases working hours to clear backlog, amongst other measures
30th November 2023

The Durban Container Terminal (DCT) Pier 2 has increased the ship working hours at some of its berths over the last few days to clear the backlog of vessels at anchor, Durban Terminals has... 


NUM Highveld region to march against Transnet over debilitating logistics failures
30th November 2023

Trade union the National Union of Mineworkers' (NUM's) Highveld Region is planning to march to the offices of the Presidency and the Department of Public Enterprises on December 9 to demand an... 


Night loadshedding drops to Stage 5
30th November 2023

Eskom announced a marginal drop in loadshedding on Thursday due to improved generation recovery and emergency reserves.  Stage 3 loadshedding kicked in at 10:00, and will continue until 16:00, when... 


Statistical Releases

South Africa shows economic resilience – Allianz report
13th November 2023

According to a new global insolvency report published by credit insurer Allianz Trade, operating in South Africa through the Allianz Commercial licence, economic resilience has been tested and... 


Visa backlogs causing critical skills deficit, undermining economy
13th November 2023

A lack of critical skills is holding back the South African economy, Business Leadership South Africa (BLSA) CEO Busi Mavuso has said, adding that the country is not solving the problem as fast as... 


South African economy to slow down this year before stabilising in 2024
30th October 2023

South Africa's economic growth is projected to decelerate from 1.9% in 2022 to 0.4% this year, before picking up to 1.3% in 2024, according to data and analytics company GlobalData.  This comes as... 


Tourism

Port Elizabeth port to welcome 37 560 passengers as cruise season starts
8th November 2023

The arrival of cruise ship the Vasco da Gama at the Port of Port Elizabeth marked the start of the 2023/24 cruise season in Gqeberha, and the city expects to welcome to its shores 37 560 passengers... 


African travel, tourism can grow by another $168bn with the right efforts – WTTC
7th November 2023

The World Travel & Tourism Council (WTTC) estimates that the African travel and tourism sector could add $168-billion to the continent’s economy and create more than 18-million new jobs, depending... 


Associations laud De Lille’s constructive engagement approach in tourism industry
6th November 2023

As the global tourism community converges at the World Travel Market in London this week, South African tourism associations have expressed their full support for Tourism Minister Patricia de... 


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