Bolt driver suspended after shooting a passenger dead, injuring another, while a third escaped and was charged with hijacking. view more

The urgent need for housing development in Durban is believed to have led to the land invasions. view more

Cyclists plan silent protest on April 29 at the Verulam court where the accused taxi driver will face a charge of culpable homicide. view more

Climbing Moses Mabhida Stadium might seem a tougher feat than walking 5km along the promenade. view more

Gautrain Management Agency (GMA) CEO Jack van der Merwe will, in the short term, steer the establishment of the Gauteng Transport Authority (GTA), says Gauteng Roads and Transport MEC Dr Ismail Vadi. 'Short term' refers to a period of six months. Van der Merwe will remain in his position as head of the GMA during this six-month period. Following the six-month period, the arrangement will be reviewed. view more

South Africa's power cuts could bring economic growth for the year close to zero if they continue at the same severity seen in March, the South African Reserve Bank (SARB) said. The wave of rolling blackouts that started in November and are among the worst the country has yet experienced could knock 1.1 percentage point off economic growth, the Reserve Bank said in its Monetary Policy Review released Wednesday in Pretoria, the capital. Expansion of close to zero would be the worst outcome since 2009, when former President Jacob Zuma came to power. view more

Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders, Sasol said SSO maintained stable production during the quarter, continuing to support a normalised yearly run-rate of 7.8-million tons. view more

The Lesotho Highlands Development Authority has awarded the contract for the construction of the Polihali diversion tunnels to the SCLC Polihali Diversion Tunnel joint venture, marking another significant step in the implementation of Phase 2 of the Lesotho Highlands Water Project. The contractor is expected to be on site in April, with the works expected to be completed in about 18 months. The project cost is estimated at M517-million. view more

There has been no increase in overall electricity demand since South Africans first began experiencing load-shedding back in 2008. Yet the threat of rotational cuts remains, because of the precipitous decline in the energy availability factor (EAF) of Eskom's coal fleet and the underinvestment in new generation capacity. New generation capacity is required urgently in order to restore balance between supply and demand. Under a steady-state scenario, such new supply would be added in line with ... view more

Eskom Holdings, the State utility that supplies 95% of South Africa's power, is overhauling the continent's sole nuclear plant with the aim of extending its lifespan by at least 20 years. The revamp of the 1 860 MW Koeberg facility comes as Eskom struggles to produce enough electricity to meet demand and is grappling to address construction glitches and cost overruns at two new coal-fired power stations. The nuclear plant is one of the cheapest to operate in the utility's fleet. view more

In early February, the International Air Transport Association (IATA) released its global air freight data for the whole of 2018. Although worldwide demand, measured in freight (metric) ton kilometres (FTKs) rose by 3.5% in comparison to 2017, it was far below 2017's 9.7% growth. And demand softened towards the end of the year, as global trade weakened, consumer confidence declined, trade tensions continued and some governments continued with protectionist measures. view more

The Black Business Council (BBC), the BBC in the Built Environment and the Forum for Radical Economic Transformation on Thursday condemned the disruption by local business forums of construction projects in South Africa. The parties met to discuss issues focusing on local economic participation in the construction sector. view more

Intu Properties and investment firm Cale Street Investment on Thursday announced the establishment of a 50:50 joint venture for the Intu Derby shopping centre, in the UK. Intu Derby is located in the centre of Derby and is a retail and leisure destination in the view more

Shareholders of financial services provider Standard Bank will, at the bank's next annual general meeting, vote on a resolution tabled by two shareholders to require the bank to report on its exposure to climate risk in its lending, financing and investment activities. "This is the first time that a South African company has tabled a shareholder resolution on any climate-related issue. view more

Information and technology groups Dimension Data and Cisco have entered into a new co-innovation agreement to develop a deeper collaboration environment and framework to jointly solve clients' business needs. The agreement will provide the duo scale and market reach, leveraging the companies' respective core strengths, competencies and technologies, to transform ideas into viable, deployable solutions. view more

Worldwide spending on information technology (IT) is projected to reach $3.79-trillion this year, a 1.1% increase from 2018, according to a forecast released by IT market research and advisory firm Gartner this week. Spending on data centre systems and devices will decrease by 2.8% and 1.9%, respectively, but spending on enterprise software and IT services will increase by 7.1% and 3.5%, respectively, said Gartner research VP John-David Lovelock. view more

A court in Nigeria ordered the arrest of two former ministers and others allegedly connected with illegal payments leading to the 2011 acquisition of what is considered one of the biggest oil fields in the West African country. Former Justice Minister and Attorney General Mohammed Adoke, ex-Oil Minister Dan Etete and five foreign nationals linked to the acquisition of Malabu's Oil Prospecting Licence 245 were declared wanted Wednesday by Justice Danlami Senchi of the Federal High Court, Abuja. view more

Nigeria has no intention of removing subsidies on petroleum products, its finance minister said on Wednesday after the International Monetary Fund (IMF) advised the country to eliminate them to protect public finances. Africa's top oil producer and biggest economy heavily subsidises gasoline and relies on imports for the bulk of its domestic demand due to an underperforming refining system. view more

France will open the redesign of the Notre-Dame de Paris' iconic roofline to international architects after Monday night's blaze gutted the oak-framed structure and sent its 300-foot spire crashing through its vaulted ceiling, the country's PM said on Wednesday. President Emmanuel Macron pledged in a prime-time televised address to the nation on Tuesday that Notre-Dame, one of France's best-loved symbols, would be rebuilt within five years. Tycoons and international firms have promised financial and expert help. view more

Two people were injured when a military helicopter crashed on the corners of Ruimte Road and Old Johannesburg Road in Centurion on Friday afternoon, paramedics said. Rescue Care spokesperson Garrith Jamieson said Emer-G-Med Paramedics responded to the call and found two patients had sustained serious injuries. view more

The annual headline consumer inflation accelerated to 4.5% in March, from 4.1% in February, owing to another 74c fuel price hike in the same month. Land Bank economist Tebogo Mashabela on Friday commented on Statistics South Africa's Consumer Price Index release, pointing out that the fuel price hike in March had contrasted with the decrease in the petrol price of 36c in March 2018. view more

Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has since had a 4.5-times value uplift. view more

Higher fuel prices have contributed largely to the increase in March inflation, and industry has warned of the effects it is having on business profitability. Stats SA on Wednesday released March inflation figures, which increased to 4.5% compared to 4.1% reported in February. Transport costs were among the major contributors to the higher inflation. Transport costs, in turn, were influenced by higher fuel prices. "The 74c/l increase in the domestic petrol price in March was the key driver for this acceleration. view more

The damage done by State capture is worse than previously understood, and its effects, coupled with load-shedding, are bound to hit economic growth hard, according to the Reserve Bank Monetary Policy Review. In a document outlining growth prospects for the country, the Pretoria-based institution painted a gloomy picture about the impact of these two factors bedevilling the South African economy, stating that growth remained "disappointingly weak". "It has become clearer, however, that the legacy of State capture, of which load-shedding is one symptom, will constrain growth for a longer period," it said. "...The damage done by State capture is worse than previously understood. Capital expenditure, especially by State-owned enterprises, has been less productive than anticipated." view more

Agricultural industry association Agri SA on Thursday applauded a donation from financial services group Santam to help drought-stricken farmers in the Northern Cape province. It said the drought in Sutherland had caused a devastating decline in the sheep breeding population and placed the town's economy under tremendous strain. "In light of this, leading South African insurer Santam has donated R300 000 to the Agri SA Drought Relief Fund which aims to provide relief to farmers, farm workers and the community of Sutherland," the farm body said. The lack of good rainfall since 2013 in the region has resulted in farmland boreholes drying up, making it harder to raise the sheep that are the backbone of the remote farming town. view more

Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. view more

The South African National Roads Agency has signed a memorandum of understanding with rock crushing equipment supplier Pilot Crushtec to engender relationships with smaller contractors in the lower end of the construction industry, as part of the organisation's transformation drive. Tasneem Bulbulia explains. view more

Nuclear reactors, the lumbering giants of electricity generation, are trying to become more agile. Power grids have become so swamped with volatile wind and solar that traditional plants are being forced to abruptly adjust their own output to keep systems stable - or pay a penalty. That's prompting reactor owners including Exelon Corp and Duke Energy Corp to develop ways to tap the brakes on massive plants built to run non-stop. view more

The South African Reserve Bank says it's premature to claim victory in the war against inflation and sees price growth stabilising at 4.5% only by the end of 2021. While inflation has been inside the central bank's target band of 3% to 6% for two years and was at the midpoint of this range in March, it's "too early to claim that inflation is already permanently lower," the South African Reserve Bank said in its Monetary Policy Review published Wednesday in the capital, Pretoria. The improved outcomes were mainly due to positive surprises such as low food-price growth and a stable exchange rate, the central bank said. The rand has appreciated 2.3% against the dollar this year. view more

The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater's South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a media release to Mining Weekly Online. view more

Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding package for the construction and commissioning of Kibo's African energy projects as they approach a final investment decision. Under the terms of the engagement letter, Wimmer will be the exclusive sole global debt corporate finance adviser for all Kibo's African project, except for its Mbeya coal-to-power project, in Tanzania, where it will not enjoy any exclusivity. view more

The Emerging Black Importers and Exporters South Africa and the South African National Consumer Union say raising tariffs on imported chicken could hike local chicken prices by up to 32%, putting South African consumers under further financial strain and impacting on food security for the poor. The South African Poultry Association, a lobby group established to protect the interests of the large South African poultry producers, has applied to the International Trade Administration Commission of South Africa for import tariffs on chicken to increase to 82%.  view more

Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals, completed at a 29% premium to the company's last closing price on the Australian Securities Exchange on Monday, saw eager black economic empowerment Investors subscribe for $4-million in the placement, including a $2-million stake at project level. view more

The Department of Energy is still researching the feasibility of implementing a fuel price cap, and the outcome will be announced in due course, a spokesperson said on Wednesday. The possibility of a hard price ceiling on 93 unleaded fuel was mooted by Energy Minister Jeff Radebe in mid-October 2018. view more

Since the Democratic Alliance entered into a coalition government in the Johannesburg metropolitan two and a half years ago, the City of Johannesburg has achieved and maintained economic growth of around 1.95% a year, mayor Herman Mashaba said at the city's annual general meeting on Wednesday. He further pointed out that the city was achieving a 92.6% refuse collection rate, while 98.4% of citizens had access to water, 95.1% access to sanitation and 90.8% access to electricity. view more

The South African Institution of Civil Engineering (Saice) has joined other industry bodies in strongly condemning the recent spate of alleged "mafia-style" coordinated gang activity on project sites across the country. In a statement issued on Wednesday, Saice referred to pleas from the South African Forum of Civil Engineering Contractors, which noted that such attacks have disrupted and halted projects worth over R25-billion and caused engineers and personnel on sites to flee in fear for their safety. view more

Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t. Platinum production increased by 13.6% to 59 400 oz and four element metal production rose 12.6% to 91 300 oz. view more

The National Union of Mineworkers (NUM) on Wednesday confirmed a strike by workers at cement producing company PPC, at Hercules, in Pretoria, over wage increases.  NUM PPC branch secretary Surprise Baloyi, said workers were embarking on a protected strike over the company's refusal to bargain on wage increases.  view more

State-owned investment management company, the Public Investment Corporation (PIC) increased its beneficial shareholding in JSE-listed real estate investment trust Texton Property Fund to 18.9%. Texton CEO Marius Muller on Wednesday noted that the PIC had become Texton's largest shareholder. view more

South African mining stocks have had their best start to the year since 2016 and there's every chance they are not done yet. The FTSE/JSE Africa Mining Index has gained 22% as of April 16 and is close to an eight-year high, helping South Africa's benchmark gauge advance 12% as investors show few signs of nerves before elections on May 8. view more

Since assuming power in 2017, Angolan President Joao Lourenco has repeatedly vowed to steer sub-Saharan Africa's second-biggest oil producer into a new era of transparency. Last week, he missed a golden opportunity to deliver on that promise. The sale of the country's fourth telecommunications license could have been another step to increase competition and shake up the business environment Lourenco inherited from his predecessor, Jose Eduardo dos Santos, who left his family and allies in control of swathes of the economy when he stepped down. view more

Empowerment investment holding company African Rainbow Capital (ARC) on Wednesday announced plans to acquire a majority shareholding in independent actuarial advisory business QED for an undisclosed amount. QED operates across 17 countries in Africa, offering actuarial and risk management solutions to insurers, healthcare providers, pension funds, banks, regulatory and industry bodies, retailers and developmental organisations. view more