South Africa’s economy grows 0.7 percent in Q3 2015, narrowly avoiding recession

South Africa’s economy grew by 0.7 percent in the third quarter of 2015, narrowly avoiding a recession, Statistics South Africa (Stats SA) said on Wednesday. The agency, though, said some of the country’s key industries are in recession. The increase in overall economic activity in the third quarter was characterised by three of the ten […]

Presidents to discuss $5.2bn fine issued by Nigerian Govt to S.African firm MTN.

President Jacob Zuma and his Nigerian counterpart, Muhammadu Buhari, are set to meet in Johannesburg this week to discuss the $5,2bn fine imposed by Nigerian authorities on South African telecommunications group MTN’s subsidiary in the West African nation. Jacob Zuma President Jacob Zuma and his Nigerian counterpart, Muhammadu Buhari, are set to meet in Johannesburg […]

MTN Nigeria warns reprisal attacks on S.Africans will plunge Nigeria’s economy

MTN Nigeria has cautioned against reprisal attacks on multinationals that have links with South Africa owing to the xenophobic attacks on Nigerians in South Africa,  saying any such occurrence would result in monumental loss and setback for the Nigerian economy. Xenophobic attacks on foreigners in South Africa by some group of South Africans has led […]

Mall of Africa taking shape with H&M, Zara, Tommy Hilfiger booking space

The Mall of Africa development in Midrand. Atterbury Property’s Mall of Africa development is on track for its opening next year, with more heavyweight international fashion retailers announced at the R3.2 billion shopping centre. Located on both sides of the N1 between Midrand and Sandton, the mall is slowly taking shape for its completion on […]

Checkout S.Africa invests in market leading warehouse software

 HighJump Software, a global provider of supply chain management software, announced that Checkout Supermarkets has selected HighJump™ Warehouse Advantage warehouse management system (WMS) to increase the speed of its operations and visibility of its inventory. Checkout is South Africa’s largest independent retail supermarket chain, with 50 corporate stores throughout the country selling groceries, household and […]

South Africa turns to gas imports to reduce its energy shortfall

South Africa plans to improve its pipelines and ports to allow for more gas imports for use in power generation, the acting director general of the department of energy said on Tuesday. Africa’s most advanced economy is dependent on coal for power and also uses relatively expensive diesel for turbines. State-run power utility Eskom which […]

South African Benefit From Oil Price Decline Seen as Temporary

(Bloomberg) — The benefit from the lower oil costs for South Africa’s economy will probably be temporary as the drop hasn’t passed through to wider prices and crude should increase further, Reserve Bank Governor Lesetja Kganyago said. “Average wage settlements are still in the realms of 8 percent,” Kganyago said in a speech to a […]

GDF Suez solar project awarded preferred bidder status

Robin Whitlock Wednesday, 14 January 2015 A consortium led by GDF Suez has been nominated ‘preferred bidder’ by the South African Department of Energy (DOE). The Kathu Solar Park project in South Africa is owned by a GDF Suez consortium which includes South African partners and consists of a 100 MW greenfield Concentrated Solar Power […]