JOHANNESBURG – The debilitating problems facing South Africa’s construction sector were yesterday laid bare after the FNB/Bureau for Economic Research (BER) Civil Confidence Index plunged to its lowest level ever in the first three months of this year. FNB/BER said 90percent of respondents were dissatisfied with prevailing business conditions on weaker activity growth, which had weighed on profitability. Siphamandla Mkhwanazi, a property economist at FNB, said the decline was supported by a slowdown in construction activity, and contractors should brace themselves for a continuation of the current weak demand. “It’s not…
Read MoreDay: Mar 27, 2019
Online trading platform to assist SMMEs
President Cyril Ramaphosa will tomorrow launch an online trading platform which will link registered small, medium and micro enterprises’ (SMMEs) access to supply chain opportunities of large South African corporations that have an integrated global footprint. The platform – called the Business Leadership South Africa Connect – will be launched in conjunction with the SA SME CEO Fund Circle. In a statement, the Presidency on Wednesday said the online portal will promote supplier diversity and the inclusion of black suppliers in the value chain. “This initiative will create market opportunities…
Read MoreEnergy price rises may cost 90000 Mining Jobs
JOHANNESBURG –The minerals Council South Africa yesterday warned that the National Energy Regulator of South Africa (Nersa) Multi-Year Price Determination Period four (MYPD4) tariff increases granted to Eskom would place more than 90000 mining jobs on the line. “In total, as many as 90222 jobs would be at risk, solely as a result of the Multi-Year Price Determination Period four tariff increases granted to Eskom. This figure excludes existing sector-specific challenges,” the Minerals Council said yesterday. High input costs and volatile metal prices have contributed to the closure of a…
Read MoreFootwear manufacturer set to take big step
DURBAN – A Chatsworth-based manufacturer of ladies’ footwear is setting its sights on the export market.Allimor Footwear, which manufactures ladies footwear for the mass market, has survived tough economic conditions to stay in business. The small family business was started in 1991 by Morris Marimuthoo, a former boilermaker who turned into a professional dressmaker and an astute businessman. Initially, the small factory produced approximately 1 000 pairs of shoes a day. With the growth of the business over the past 28 years, the factory now manufactures more than 6 000…
Read MoreRenault aims to restart Nissan merger talks within 12 months – FT
INTERNATIONAL – France’s Renault SA intends to restart merger talks with Japan’s Nissan Motor Co Ltd within 12 months, after which it will set sight on a bid to buy Fiat Chrysler Automobiles NV, the Financial Times reported on Wednesday. The plans signal a return to the strategies supported by former Nissan boss Carlos Ghosn who held talks about merging Renault with Fiat Chrysler two to three years ago, the report, which cited sources familiar with the matter, said, adding the French government had opposed the move. Late last year, Ghosn…
Read MoreClosing the gap in Africa’s energy challenges
JOHANNESBURG – Africa is a continent blessed with an abundance of natural resources – water, wind, thermal coal, natural gas, and of course plenty of sunshine – but the electrification rate across the continent remains extremely poor. Of the 1.2 billion people who live in Africa, it’s estimated that more than 650 million have no access to energy, relying instead on fossil fuels like diesel for electricity generation and harmful cooking fuels such as wood, charcoal, and kerosene. This sets our continent back in meeting energy access goals, restricts industry…
Read MoreYokogawa Establishes Yokogawa Norge –Expanding our business in the renewable energy, pharmaceutical, and food industries–
Yokogawa Electric Corporation (TOKYO: 6841) announces that it has established a subsidiary in Norway to engage in the sale of control products and provision of related services. The subsidiary, Yokogawa Norge, was established on February 14. Renewable energy, pharmaceuticals, and foods are targeted under Yokogawa’s Transformation 2020 mid-term business plan, and each of these industries enjoys good prospects for growth in Norway. The country has played a leading role in Europe’s transition to a low-carbon economy and is diversifying its economy to lessen its dependence on natural resources. In the…
Read MoreKZN launches first bulk buying and warehousing programme
DURBAN – A province-wide launch of a groundbreaking bulk buying facility has made prospects of generational wealth creation and grassroots investment an achievable reality for thousands of KwaZulu-Natal entrepreneurs. That was the assessment by the MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala following the official launch of KZN’s Bulk Buying and Warehousing Programme in Mandeni today. The launch marks a huge milestone by the KZN Provincial Government and the people of KwaZulu-Natal and comes hot on the heels of a number of roadshows in various districts to familiarise…
Read MoreAllied Steelrode’s heavy-duty slitter: first-of-its-kind in Africa ‘cuts’ customers in on increased productivity and profitability
In the past decade, leading steel merchant and value-added steel processor Allied Steelrode has made very substantial investments in several items of advanced steel processing technology. These included two stretcher levellers, which produce the hugely popular Allied Steelrode Stretcher Material (ASSM); as well as a remarkably versatile LT 20 tube laser which opens up new possibilities in terms of the cutting and application of steel tube. However, when steel is delivered from the primary steel mill, it is in the form of 32 ton coils which are 1,950 mm wide.…
Read MoreRCL Foods turns to Schneider Electric to modernise Pongola mill operations
When Durban-based RCL Foods embarked on a modernisation journey at one of its three sugar mills, it turned to Schneider Electric. The company has over 20,000 employees across three core divisions, consumer, sugar and milling, and logistics. Its Pongola mill is one of three sugar mills which collectively produce over 544,310.8 tonnes of sugar annually. Situated in the north of KwaZulu-Natal, the mill’s distributed control system (DCS) system for the juice preparation and crystallisation areas was obsolete, and in desperate need of an upgrade. This caused the mill to suffer…
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