Many South African politicians, economists and specialists in the energy sector are celebrating the news that a promising show of natural gas has been discovered in deep water south of Mossel Bay. It was found in an offshore prospecting area called Brulpadda (Afrikaans for bullfrog), which is licensed to global energy giant Total. The discovery, comes against the backdrop of rising fuel prices and an electricity utility in crisis, has raised hopes that it may be a game changer. The Conversation Africa’s Nontobeko Mtshali spoke to Robert Scholes and Rod Crompton about the significance…
Read MoreDay: Mar 5, 2019
Sovereign foods in merger with Cold Storage Group
JOHANNESBURG – Sovereign Foods, the third largest poultry producer in South Africa, has announced its merger with the Cold Storage Group (CSG), an Eastern Cape wholesaler of poultry and value-added poultry products. CSG comprises five inter-related wholesalers which include Umtata Cold Storage, Kei Cold Storage in Queenstown, Zwelitsha Cold Storage, Wilsonia Cold Storage in East London and Sov Foods Factory Shop in Uitenhage. Sovereign Foods chief executive Chris Coombes said on Friday that Sovereign would take a majority ownership stake in CSG and consolidate the five businesses into one business.…
Read MoreFuel price increase will add to farmers’ woes, warn economists
The big fuel hike expected from Wednesday will have a severe impact on the cash flow of farmers, FNB corporate affairs warned on Monday. Motorists will need to fork out an additional 74c per litre, as a rising oil price offset a stronger rand against the dollar in February. The Central Energy Fund said on Monday that the inland price for a litre of 95-octane unleaded petrol will rise 5% to R14.82 from Wednesday, and diesel almost 7% to R14.05. Dawie Maree, head of information and marketing at FNB Agribusiness, said petrol…
Read MoreSA Mining Equipment Manufacturing and Mining Services Companies to showcase their capabilities in Canada
A South African delegation of mining equipment manufacturing and mining services firms will showcase their capabilities at a trade mission to Canada during the Prospectors and Developers Association of Canada (PDAC) exhibition that will take place in Toronto from 03 – 06 March 2019. The 29 companies are supported by the Department of Trade and Industry (the dti) through its Export Marketing and Investment Assistance (EMIA) Scheme to participate at the show. The objective of the scheme is to develop export markets for South African products and services and to…
Read MoreSA companies seek opportunities in India
Local companies will today dip their toes in the Indian market as they participate in the Department of Trade and Industry’s (dti) Outward Trade and Investment Mission to New Delhi and Mumbai. The trade and investment mission is aimed at increasing the trade of value-added goods and investment between South Africa and India. Minister Rob Davies said the five-day mission will introduce South African companies to the Indian market. The mission will also give companies the opportunity to obtain export orders and generate trade leads. “One of the dti’s strategic…
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