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Macro & Micro

Insurance M&A dealmaking up in early 2024 – PwC
16th October 2024 By: Darren Parker

Auditing firm PwC says the first half of this year saw a measured uptick in dealmaking across the insurance industry, both globally and in South Africa However, despite the emergence of a turning... 


AMSA's Vanderbijlpark plant
AMSA reports R1bn third-quarter loss amid ‘particularly difficult period’
16th October 2024 By: Darren Parker

Steel producer ArcelorMittal South Africa (AMSA) has reported a headline loss of a little more than R1-billion for the third quarter. “The global and local steel market deteriorated further since... 


Handshake next to French flag
Businesses increasingly confident of investing in South Africa as reforms take shape
16th October 2024 By: Marleny Arnoldi

Pharmaceuticals group Aspen strategic trade development executive Stavros Nicolaou has confirmed that the Government of National Unity’s (GNU’s) efforts to accelerate economic growth in South... 


Business insolvencies to increase by 11% this year – Allianz
16th October 2024 By: Schalk Burger

Trade credit insurance company Allianz Trade's latest 'Global Insolvency Report' points to a more severe outlook for the global business landscape, with insolvencies projected to increase by 11%... 


AMSA production facility
‘Support and commitment’ not enough to save long steel business, urgent action needed – AMSA
16th October 2024 By: Darren Parker

Government’s support for, and commitment to, addressing the removal of export tax on scrap metal, resetting the price preference system (PPS) mechanism at an appropriate level, implementing trade... 


IEA executive director Fatih Birol presenting the World Energy Outlook 2024
Africa’s critical-minerals role highlighted as world moves into ‘Age of Electricity’
16th October 2024 By: Terence Creamer

With the global energy system moving into the “Age of Electricity”, the International Energy Agency (IEA) has again highlighted the central role of Africa in producing the critical minerals... 


Public Works and Infrastructure Minister Dean Macpherson and Infrastructure South Africa acting head Mameetse Masemola
DPWI, ISA launch project preparation bid window to expand infrastructure investment
15th October 2024 By: Darren Parker

The Department of Public Works and Infrastructure (DPWI), together with government agency Infrastructure South Africa (ISA), has opened a novel project preparation bid window to invite submissions... 


Business confidence steadily being restored – Sacci
15th October 2024 By: Creamer Media Reporter

The South African Chamber of Commerce and Industry's (Sacci's) Business Confidence Index (BCI) averaged 110.9 for the first nine months of this year – a 1.7 index improvement on the average of... 


The IMF logo on a wall
Global public debt to hit $100tr by end of 2024, IMF Says
15th October 2024 By: Bloomberg

Global public debt is set to reach $100-trillion, or 93% of global gross domestic product, by the end of this year, driven by the US and China, according to new analysis by the International... 


steel stock in warehouse
Global steel demand to decline by a further 0.9% in 2024 – worldsteel
14th October 2024 By: Darren Parker

The World Steel Association (worldsteel) expects global steel demand to decrease by 0.9% to 1.75-billion tonnes this year. “2024 has been a difficult year for global steel demand as the global... 


TotalEnergies
South Africa’s rising fuel imports cause supply shortage risk
14th October 2024 By: Bloomberg

South Africa’s rapid switch to become a net importer of fuel creates supply risks requiring infrastructure to store and transport the fuel, according to State-owned logistics firm Transnet.... 


Tito Mboweni
Industry, govt mourn the loss of public service titan Mboweni
14th October 2024 By: Marleny Arnoldi

Condolences have streamed in from the business, academic and government spheres following the death of former Finance Minister Tito Mboweni at the weekend. Finance Minister Enoch Godongwana... 


GNU Cabinet
Ramaphosa believes SA heading in the right direction under GNU
14th October 2024 By: Thabi Shomolekae

President Cyril Ramaphosa said on Monday that widespread support for the seventh administration, made up of 11 political parties, and the continued reform agenda, has contributed to the improvement... 


Former Finance Minister Tito Mboweni
Former finance minister Tito Mboweni dies at 65
14th October 2024 By: Reuters

South Africa's former finance and labour minister and first Black central bank governor Tito Mboweni has died aged 65 following a brief illness, the presidency said late on Saturday. Mboweni was an... 


Eskom power lines
South Africa power-line rollout set to spur bond market revival
11th October 2024 By: Bloomberg

A multibillion-dollar plan to expand South Africa’s electricity transmission network could throw a lifeline to the country’s corporate bond market as it struggles to recover from a post-pandemic... 


Sasol president and CEO Simon Baloyi (centre right) on site with the Msenge Emoyeni Wind Farm team.
69 MW Msenge Emoyeni Wind Farm begins wheeling electricity under contract with Sasol
10th October 2024 By: Terence Creamer

The 69 MW Msenge Emoyeni Wind Farm, located in Bedford in the Eastern Cape, has entered into commercial operation and is wheeling electricity into the national grid helping to green the electricity... 


Manufacturing records contraction in overall output for August
10th October 2024 By: Marleny Arnoldi

Statistics South Africa reports that the country’s manufacturing production decreased by 1.2% year-on-year in August, with the largest negative contributors having been motor vehicles, parts and... 


Rail line
Business sees third-party rail access as crucial to meeting 250Mt volume target
10th October 2024 By: Terence Creamer

An initial assessment by business into what it would involve to raise yearly freight rail volumes to 250-million tons, estimates that Transnet’s recovery alone could lift yearly volumes to about... 


Reserve Bank Governor Lesetja Kganyago
Kganyago sees South African inflation dip creating policy space
10th October 2024 By: Bloomberg

South African Reserve Bank Governor Lesetja Kganyago said inflation could fall below 4% in coming months, creating more room for action after officials cut interest rates in September. ‘We expect... 


Shopping bag with veg and fruit
Steenhuisen vows more targeted approach to resolving food security challenge
10th October 2024 By: Marleny Arnoldi

About 20-million South Africans, or 63% of households, are food insecure, Agriculture Minister John Steenhuisen revealed at the unveiling of the results of the National Food and Nutrition Security... 


DFFE international governance and resource mobilisation chief policy adviser Stuart Mangold; Danish Industries project lead Clara Halvorsen; Danish Industry ESG and sustainability senior adviser Dr Vibeke Huge Rehfeld; Forestry, Fisheries and the Environment Deputy Minister Narend Singh; and Danish Industry CBAM expert Anna Ipsen Nielson
Broad recognition of need for, benefits of, metals industry's transition to a low-carbon pathway, but funding limited
10th October 2024 By: Schalk Burger

Representatives of South Africa's metals and engineering industry and government have emphasised the need to transition the industry to a low-carbon pathway and discussed the benefits this would... 


IEA executive director Fatih Birol
Cost-competitiveness to underpin surge in global renewables roll-out to 2030 - IEA
9th October 2024 By: Terence Creamer

Led by solar PV, renewables are poised to transform electricity systems across the globe this decade, with the world on course to add more than 5 500 GW by 2030, the International Energy Agency’s... 


rural off-grid solar power
$21bn increase in off-grid solar investment needed to facilitate universal energy access
8th October 2024 By: Darren Parker

A $21-billion increase over current investment levels is required to realise the off-grid potential of solar power to contribute to universal energy access, according to the latest ‘Off-Grid Solar... 


Industrial Gas Users’ Association of Southern Africa CEO Jaco Human
Opinion: Non-profit gas aggregation imperative for South Africa
8th October 2024

In this opinion article, Industrial Gas Users’ Association of Southern Africa CEO Jaco Human makes the case for pursuing gas aggregation on a non-profit basis, while also urging Eskom and Sasol to... 


A customer shopping for groceries
South African antitrust body faults grocers over high food costs
8th October 2024 By: Bloomberg

South African food producers and retailers have been slow to pass on the effects of declining cost pressures to cash-strapped consumers, an issue that may warrant further investigation, the... 


Township Retail Investment Summit 2024 held to highlight township retail potential
7th October 2024 By: Schalk Burger

The Township Retail Investment Summit (TRIS) 2024 event, held at Alex Mall, in Gauteng, highlighted the rising importance of township retail as a key driver for the country’s economic future.... 


power station emissions
South Africa’s emissions to peak in 2024, reach decade low in 2030 – report
7th October 2024 By: Darren Parker

South Africa’s overall emissions will reach their peak this year and will be followed by a downward trend that will culminate in the lowest emissions this decade in 2030, the draft first 'Biennial... 


joburg
South Africa’s reindustrialisation requires collaboration between multiple sectors
4th October 2024 By: Darren Parker

To achieve reindustrialisation in South Africa, collaboration across industries is crucial, Kearney metals and mining global lead Igor Hulak said during the second day of the Joburg Indaba, in... 


Steel and Engineering Federation of Southern Africa  president Elias Monage
Seifsa president sees new political climate as opportunity to revive metals sector
4th October 2024 By: Terence Creamer

Steel and Engineering Federation of Southern Africa (Seifsa) president Elias Monage has described the establishment of the Government of National Unity (GNU) as an opportunity to revive the metals... 


Eskom Power Station
South Africa fires up diesel turbines to keep power cuts at bay
4th October 2024 By: Bloomberg

Eskom has been using diesel-fuelled auxiliary turbines extensively to stave off power cuts in South Africa following delays in restoring some generation capacity. The utility fired up the units... 


Govt, business set 3% growth target for 2025
Govt, business set 3% growth target for 2025
4th October 2024 By: Creamer Media Reporter

Engineering News editor Terence Creamer discusses the partnership previously formed between government and business to tackle loadshedding and other crises; the launch of a second phase of this... 


Protests should not come at the cost of economic stability, Busa says as Cosatu strike looms
3rd October 2024 By: Thabi Shomolekae

Business Unity South Africa (Busa) expressed concern over the planned October 7 nationwide protest by the Congress of South African Trade Unions (Cosatu), saying recurring protests, using... 


OEC tank farm
R273m govt-funded Orion tank farm in Gqeberha unveiled
3rd October 2024 By: Darren Parker

The Orion Engineered Carbons (OEC) tank farm project, in Zone 7 of the Coega Special Economic Zone (CSEZ) in Gqeberha, in the Eastern Cape, has officially been unveiled. Trade, Industry and... 


Opinion: Danish-South African energy cooperation to unleash just energy transition in grid-ready regions
Opinion: Danish-South African energy cooperation to unleash just energy transition in grid-ready regions
3rd October 2024

South Africa has some of the best resources for wind and solar energy in the world. However, the country battles with grid constraints in areas with higher wind speeds, and little renewable-energy... 


Tellers working at a PnP grocery store
South Africa business activity accelerates in Sept as inflation eases, S&P PMI shows
3rd October 2024 By: Reuters

South Africa's private sector saw an uptick in growth in September, driven by a rise in business activity and a significant cooling of inflationary pressures, a survey by S&P Global showed on... 


South Africa nominates Bajabulile Tshabalala for AfDB president
2nd October 2024 By: Schalk Burger

South Africa’s Cabinet formally endorsed development finance institution the African Development Bank (AfDB) senior VP Bajabulile Swazi Tshabalala as its nominee for the role of president of the... 


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