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Macro & Micro

Macpherson to launch independent investigation into IDT tender award
10th December 2024 By: Schalk Burger

Public Works and Infrastructure Minister Dean Macpherson will launch a full independent investigation into the Independent Development Trust (IDT) and its corporate governance problems to prevent... 


A business person working
Sacci BCI improves by 3.4 points month-on-month in November
10th December 2024 By: Schalk Burger

Despite five subindices that turned slightly negative in November, the South African Chamber of Commerce and Industry (Sacci) Business Confidence Index (BCI) still improved by 3.4 points... 


BLSA CEO Busi Mavuso
Fixing logistics, water sectors still long way off in South Africa - BLSA
9th December 2024 By: Schalk Burger

While South Africa is starting to see the fruits of energy sector reforms, it still has a long way to go to fix the water, and transport and logistics sectors despite recent progress, says business... 


Man with laptop at night
PwC survey finds sub-Saharan CEOs are equally, if not more, focused on transformation
9th December 2024 By: Marleny Arnoldi

Consultancy PwC finds in its latest yearly global CEO survey that 81% of CEO’s in Africa took at least one action that greatly impacted on their company’s’ business model in 2023, compared with 76%... 


OR Tambo International Airport
OR Tambo International faces flight delays over refuel issues
9th December 2024 By: Bloomberg

Airlines at South Africa’s busiest airport are unable to refuel their aircraft, raising the possibility of renewed delays just two days after pilots at the state-owned carrier ended a strike. The... 


Agbiz CEO Theo Boshoff
Agri trade poised to benefit from South Africa’s global positioning next year, but BRICS needs work
9th December 2024 By: Marleny Arnoldi

With the 2024/25 season expected to benefit from La Niña rains, solid exports having been reported in the year-to-date, food price inflation having come down to 2.8% in October and the Agribusiness... 


Image of Cyril Ramaphosa
Ramaphosa reflects on government progress, notes slow pace of economic growth
9th December 2024 By: Thabi Shomolekae

President Cyril Ramaphosa pointed out on Monday that strengthening local government is the Government of National Unity’s key priority, noting disruptions in the supply of electricity and clean... 


Buco retail store in Strijdom Park
Buco opens new store as part of larger effort to grow its Gauteng presence
6th December 2024 By: Darren Parker

Building materials and hardware supplier Buco has opened a new convenience store in Strijdom Park, Randburg. The store, which had a soft opening about two months ago, was officially  declared open... 


Business must organise to leverage G20 opportunities, Sacci urges
6th December 2024 By: Schalk Burger

South African business must organise in a fully inclusive manner to take advantage of the opportunities of South Africa's chairing of the intergovernmental platform Group of 20 (G20) for the... 


McKinsey & co
McKinsey, Busa join for G20 event after scandal
6th December 2024 By: Bloomberg

McKinsey & Co. is partnering with South African business-lobby group Business Unity South Africa (Busa) to prepare for an event aimed at connecting global policymakers, civil-society organisations... 


McKinsey & Company
McKinsey to pay SA R1.1bn for its role in State capture
6th December 2024 By: Thabi Shomolekae

The National Prosecuting Authority announced that it has successfully concluded dispute resolution with McKinsey South Africa, in which McKinsey will pay about R1.1-billion into South Africa's... 


An image of Higgins Mdluli
Drier season produces lower yield
6th December 2024

Industry association SA Canegrowers highlights that this year’s sugarcane harvest is expected to be 10% lower than average, largely owing to unusually dry conditions in most of KwaZulu-Natal's... 


A generic image of a sugarcane plant
Extend sugar tax moratorium, says SASA
6th December 2024 By: Lumkile Nkomfe

Industry association, the South African Sugar Association (SASA), asserts that the sugar tax, since its introduction in 2019, has had a devastating impact on both sugarcane farmers and milling... 


A generic image of boiler equipment
Firm’s boilers enable efficient processes
6th December 2024 By: Lumkile Nkomfe

Steam generation solutions company Steinmüller Africa says that its boilers are well-equipped to deliver efficient waste management, energy, and cost savings for the pulp and paper, sugar,... 


delegates celebrate the signing of the Atlanta Phambili pledge
South Africa signs pledge with Atlanta to drive US investment in South Africa
5th December 2024 By: Darren Parker

South Africa has signed a pledge with the US city of Atlanta, Georgia, to encourage increased US investment in South Africa and vice versa. The signing took place at a trade and investment seminar... 


Rising business insolvencies globally an emerging risk for directors – Allianz
5th December 2024 By: Schalk Burger

Global business insolvencies are expected to rise by 11% this year and countries accounting for more than half of global GDP will be hit by double-digit insolvency increases, says risk and... 


JHB skyline
South Africa's current account deficit broadly unchanged in Q3
5th December 2024 By: Reuters

South Africa's current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product, central bank data showed on Thursday. In... 


Johannesburg planetarium relaunches as Wits Anglo American Digital Dome
Johannesburg planetarium relaunches as Wits Anglo American Digital Dome
4th December 2024

The University of the Witwatersrand, in partnership with diversified mining company Anglo American, have relaunched the old Johannesburg Planetarium as the Wits Anglo American Digital Dome, after... 


Coal power station
High Court says State can’t order new coal plants
4th December 2024 By: Bloomberg

South Africa’s High Court upheld a legal challenge to the government’s plan to procure 1 500 megawatts of new coal-fired power, ruling that it was unlawful because of the potential impact on public... 


National Treasury notes Moody’s reaffirmation of South Africa’s junk status
4th December 2024 By: Darren Parker

National Treasury has noted Moody’s decision to affirm the country’s long-term foreign and local currency debt ratings at Ba2 – otherwise known as non-investment grade or junk status – and maintain... 


Shirts for sale in a retail store
South Africa business activity rises for 4th straight month, S&P Global PMI shows
4th December 2024 By: Reuters

South African private sector activity increased for a fourth consecutive month in November as firms took on more workers and grew more confident about the economic outlook, a survey showed on... 


Consumers
S African consumer confidence drops, but signals strong festive season
4th December 2024 By: Reuters

South Africa's consumer confidence slipped one point in the fourth quarter, although retail sales during the festive season are still expected to be at levels last seen in 2019, a survey showed on... 


Minister Thembi Nkadimeng-Simelane
Justice Minister moved to Human Settlements portfolio amid probe
3rd December 2024 By: Bloomberg

President Cyril Ramaphosa moved Justice and Constitutional Development Minister Thembi Nkadimeng-Simelane to a new department, amid an investigation into her conduct before she joined the Cabinet.... 


South Africa’s launched its King Protea G20 Presidency logo on December 3
Germany commits R5.2bn to South Africa and promises to deepen cooperation ahead of Joburg G20
3rd December 2024 By: Terence Creamer

Germany has committed further funding of €276.5-million (about R5.2-billion) to South Africa for the period to 2026 to support several initiatives, including skills development and South Africa’s... 


dude pouring beer from a tap
Deadline for public comment on alcoholic beverages taxation discussion paper extended
3rd December 2024 By: Darren Parker

National Treasury has extended the deadline for public comments on its ‘Taxation of alcoholic beverages’ discussion paper. The paper was published for public comment on November 13, alongside two... 


President Cyril Ramaphosa with G20 leaders
SA will use G20 to focus on low-income countries – Ramaphosa
3rd December 2024 By: Thabi Shomolekae

President Cyril Ramaphosa on Tuesday expressed confidence in South Africa’s ability to present “the most impressive G20”, stating that under the country’s leadership, the intergovernmental forum... 


Equipment on a farm
GDP contracts by 0.3% in the third quarter
3rd December 2024 By: Creamer Media Reporter

South Africa’s GDP decreased by 0.3% in the third quarter, following an increase of 0.3% in the second quarter. The agriculture, forestry and fishing industry decreased by 28.8%, contributing -0.7... 


With G20, B20 presidencies, South Africa to amplify Africa's role in global business affairs
2nd December 2024 By: Schalk Burger

South Africa has assumed the presidency of intergovernmental forum Group of 20 (G20) and its private sector engagement group Business 20 (B20). B20 South Africa will focus on unifying efforts... 


Tshwane to strengthen service delivery, revenue collection after reaching agreement with Eskom
2nd December 2024 By: Schalk Burger

The City of Tshwane says the agreement with State-owned Eskom to settle the R6.67-billion historical debt it owes to the utility signals a turning point, ending years of costly litigation and... 


Steel being produced
Simmering steel tensions coming to boil as Newcastle mill’s survival comes under spotlight again
2nd December 2024 By: Terence Creamer

Long simmering tensions in South Africa’s steel sector appear to be coming to a boil following a joint statement by the National Union of Metalworkers of South Africa (Numsa) and ArcelorMittal... 


South Africans holding flag
AgriSA highlights desired focal areas for South Africa as it leads G20
2nd December 2024 By: Marleny Arnoldi

As South Africa assumed the presidency of the Group of 20 (G20) and its private sector engagement group Business 20, industry body AgriSA says this leadership position presents an opportunity for... 


structural steel
Itac gets Sars to provisionally implement 52.81% duties on imported Chinese structural steel
2nd December 2024 By: Darren Parker

Pending the outcome of an investigation by the International Trade Administration Commission of South Africa (Itac) into the alleged dumping of structural steel products imported from China and... 


Africa enjoyed a 9% y/y increase in FDI in 2024, report shows
2nd December 2024 By: Darren Parker

Africa recorded a 9% year-on-year increase in foreign direct investment (FDI) projects this year, albeit still 22% below prepandemic levels from 2019, EY Africa’s latest yearly ‘Africa... 


BLSA CEO Busi Mavuso
Auditor-General says culture of accountability must be built in public sector – Mavuso
2nd December 2024 By: Schalk Burger

In Auditor-General (AG) Tsakani Maluleke's report on the performance of national government entities and an assessment of the underlying performance of the public sector released during the final... 


FirstRand's first social bond proceeds to support FNB lending to SMMEs, housing customers
29th November 2024 By: Schalk Burger

The proceeds of financial services provider FirstRand Bank's inaugural social bond will be allocated to fund financial services firm FNB’s lending to small, medium-sized and microenterprises... 


South Africa’s third battery bidding round attracts 33 project submissions
South Africa’s third battery bidding round attracts 33 project submissions
29th November 2024 By: Terence Creamer

A total of 33 bids have been submitted for South Africa’s latest bidding round for 616 MW/2 464 MWh of utility-scale battery storage capacity that is being procured across five pre-selected... 


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