Новости за 06.08.2021

New South African Finance Minister Enoch Godongwana’s heavyweight status within the ruling party could help to build alliances for the fiscal policies championed by the National Treasury, according to Fitch Ratings analyst Jan Friederich. Godongwana, a former labor unionist and close political ally of President Cyril Ramaphosa, was named finance chief in a cabinet shakeup late Thursday after Tito Mboweni resigned. He is the ruling African National Congress’s head of economic policy and a former deputy... Читать дальше...

The eThekwini municipality has approved various measures to support business customers that have been affected by the mid-July civil unrest that saw widespread looting and destruction of property and assets in the province. 
The rapid implementation of eThekwini mayor councillor Mxolisi Kaunda’s ten-point plan, which was approved by the city council as part of the 2021/22 budget process, will drive support for businesses to re-start both formal and informal business activities.

Consulting Engineers South Africa (Cesa) says the consulting engineering industry is still working in silos too often, which the same industry often chastises government for doing. CEO Chris Campbell says that organisations including Cesa, the Engineering Council of South Africa, the South African Institution of Civil Engineering, the South African Institute of Electrical Engineers, the National Society of Black Engineers, the Black Business Council in the Built Environment and the South African Black Technical and Allied Careers Organisation... Читать дальше...

Following the recent outbreak of civil unrest in parts of Gauteng, an immediate set of initiatives have been approved as part of economic relief measures for the affected small-, medium-sized and microenterprises (SMMEs). These include the Industrial Development Corporation’s (IDC’s) partnership with the provincial government, through the Gauteng Enterprise Propeller (GEP) as an institutional partner.

South Africa's new Finance Minister Enoch Godongwana said on Friday the country's low growth and high unemployment present a major challenge showing the need for structural reforms. President Cyril Ramaphosa on Thursday appointed Godongwana as finance minister in a Cabinet reshuffle, replacing Tito Mboweni who had asked to step down. In an interview with eNCA television after the ceremony, Godongwana said even though he was yet to get a briefing on the extent and nature of the challenges, everyone knew the economy was not performing well.

Mpumalanga Premier Refilwe Mtshweni-Tshipane has handed 200 government-subsidised houses to the destitute families at Casteel village, in the Bushbuckridge local municipality, through the Enhanced People’s Housing Process (ePHP). The houses were received mostly by women, as well as child-headed households.

Daimler Trucks & Buses Southern Africa (DTBSA) has named Ziyad Gaba as customer service, parts and downstream VP, and Maretha Gerber as sales and marketing VP. Gaba was previously at the helm of Fuso Trucks Southern Africa, with Gerber head of Mercedes-Benz Trucks Southern Africa.

Dangote Sugar Refinery, owned by Africa’s richest man Aliko Dangote, plans to spend $1-billion on expansion after Nigeria’s central bank made his firm one of the three sole importers of the sweetener into Africa’s largest economy. The company has put more than 100 000 ha of land under cultivation to grow sugarcane for local sourcing of inputs, Chief Executive Officer Ravindra Singhvi said at an investor conference call in Lagos on Thursday.

Chemicals and energy company Sasol reports that its earnings a share for the financial year ended June 30, are expected to be between R12 and R18, compared with the loss a share of R148.49 reported for the 2020 financial year. Sasol’s headline earnings per share (HEPS) are also expected to be significantly higher year-on-year at between R39 and R41, compared with the HEPS of R11.50 reported for the prior financial year

African Rainbow Energy and Power (Arep) and Absa have launched a new entity, called African Rainbow Energy – an “African-led, world-class, renewable-energy investment platform”. Arep will make an initial investment of assets covering wind, solar photovoltaic (PV) and biomass projects with an installed capacity of more than 700 MW of renewable energy.

The Lesotho Highlands Development Authority (LHDA) has called for the submission of tenders for the construction of Polihali Dam and appurtenant works under phase 2 of the multibillion rand bi-national Lesotho Highlands Water Project. Interested and suitably qualified tenderers have until November 12, 2021, to submit their proposals.

President Cyril Ramaphosa’s reconfigured, or reshuffled, Cabinet needs to have a sense of urgency about the remedies and reforms now needed to get the South African economic back onto a job-rich growth path, including closer cooperation with the private sector, says North West University Business School’s Professor Raymond Parsons. Business Unity South Africa (Busa) on August 6, meanwhile, said the Cabinet review “was necessary”, especially given the state of the South African economy, “a lack of... Читать дальше...

While the latest indicators for the second quarter (Q2) of the year suggest an uptick in the local car market, the combined effects of the third-wave Covid-19 lockdown and the civil unrest witnessed in Gauteng and KwaZulu-Natal in July, could take a heavy toll on the South African automotive industry in coming months, with potential knock-on effects for the economy, warns TransUnion.

Diversified mining and marketing company Glencore views the ferrochrome market as being particularly strong currently. “We've seen very healthy ferrochrome prices and good cash generation in that business,” Glencore CEO Gary Nagle said.

Nigeria’s government approved major transport and energy investments, including a stake in a giant private refinery, that are expected to cost $15.4-billion. Ministers in the West African nation signed off Wednesday on the state-owned Nigerian National Petroleum Corp.’s proposed purchase of a 20% stake in a refinery being built by Aliko Dangote, Africa’s richest person, for $2.76-billion. They also agreed to the rehabilitation of two other NNPC-controlled refineries and the construction of a 1,400-kilometer (870-mile) railway.

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.