Deputy President David Mabuza says government is implementing programmes in a way that ensures that the country is prepared and does not lag behind in the Fourth Industrial Revolution. Mabuza said this when he fielded oral questions in the National Assembly on Wednesday. “…Government is alive to the changing environment and has committed to ensuring that key programmes are implemented to align our training and development with the demands of the Fourth Industrial Revolution. “We cannot afford to lag behind emerging global developments and that is why we must engage…
Read MoreDay: Feb 28, 2019
Saldanha Bay woos global traders with new million-barrel tanks
What started as a strategic oil storage for South Africa during apartheid is now gearing up to attract the biggest traders as it turns into a global center for crude. A venture building a dozen new interconnected tanks at Saldanha Bay will add to neighbouring government-owned capacity, making it one of the world’s biggest hubs. They are on some of the busiest energy transit routes, giving traders the option to store and blend various crude grades to help maximize profits at a time earnings have taken a beating. “The location…
Read MoreTymeBank, SA’s first fully digital-driven bank, goes live
The race for lending to small and medium-sized enterprises (SMEs) heated up yesterday as the country’s first fully digital bank, TymeBank, went live. The bank, which is backed by billionaire Patrice Motsepe, said it wanted to capture the majority of the 21 million potential customers in the middle-income band. It said it had more than 100 000 people that had signed up for its offering. The bank also launched its EveryDay transactional account bundled with a savings tool called GoalSave, its MoneyTransfer solution and its TymeCoach app. TymeBank said it…
Read More5 reasons renewables are here to stay
Although there have been calls for the scrapping of independent power producers from some quarters, including trade union the National Union of Metalworkers of South Africa and opposition party the Economic Freedom Fighters, government is determined IPPs are here to stay to ensure security of electricity supply. Among other objections, the announcement of the unbundling of Eskom stirred fears job losses in the coal sector, particularly through the introduction of renewable IPPs in the generation space. In response, Energy Minister Jeff Radebe on Sunday held a briefing to clarify government’s rationale for including renewables…
Read MoreOPINION: Opportunity for SA to drive car manufacturing industry in Africa
JOHANNESBURG – The manufacture of vehicles is one of the most advanced forms of manufacturing within the global economy.There are many structural features of the automotive manufacturing process that cause it to locate in relatively few economies. These same structural features also mean that there is a high level of trade between producer countries in both built-up vehicles and componentry. The South African automotive sector only really entered the global value chain after the motor industry development plan in 1995. However, it has made good progress and now exports about…
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