South Africa recorded foreign direct investment outflows of 3.2-billion rand ($179.87-million) in the third quarter, compared to inflows of 16.6-billion in the second quarter, central bank data showed on Friday. The South African Reserve Bank (SARB) said in its Quarterly Bulletin that the outflows were due to domestic subsidiaries of multinational companies paying back their [...]

Some of the issues that newly elected South African Institution of Civil Engineering (Saice) president for 2025 Friedrich Slabbert will focus on are advancing professionalism in the construction sector and helping to ensure resilient infrastructure. During the inauguration of the organisation’s new president, prior president for 2024 Andrew Clothier listed the most prominent challenges in the [...]

Finance institution the African Development Bank Group (AfDB) has approved two financial facilities for South Africa-based Standard Bank Group to support economic development in Africa. The first is a $200-million trade finance risk participation agreement (RPA) for Standard Bank of South Africa and the second a R3.6-billion investment in a social bond issued by the [...]

The gold price has increased by more than 28% year-to-date in dollars, trading 22% higher on average this year than during 2023, the World Gold Council reported on Thursday, December 12. Gold’s performance across currencies was equally strong and reached 40 new record highs and total third-quarter gold demand surpassed $100-billion for the first time.

Bidvest Group has concluded an agreement for the disposal of 100% of Bidvest Bank Holdings to Access Bank for R2.8-billion. Bidvest Group CE Mpumi Madisa says that, as a well-respected, experienced and prominent financial services entity, she is very confident that Access Bank will continue to provide sustainability and prosperity of Bidvest Bank.

The African Development Bank (AfDB) has signed a coordination letter with Deutsche Bank and Société Générale to establish a syndication strategy to mobilise up to $1.2-billion for Tanzania's Standard Gauge Railway (SGR) project.  

A 500 MVA transformer at the Midas substation, in Gauteng, tripped in the evening of December 11, disrupting electricity supply to about 15 mines in the Carletonville, Fochville and Potchefstroom areas, as well as to residential customers. State-owned utility Eskom says in a December 12 update that its technical teams acted swiftly and have managed [...]

The International Air Transport Association (IATA), which is the global representative body for the airline industry, has lamented the slower than hoped-for ramp up of Sustainable Aviation Fuels (SAF) production during this year. While 2024 SAF production is, at 1 000 000 t (or 1.3-billion litres), 100% higher than the 2023 figure of 500 000 t (600-million litres), [...]

A South African court denied a bid by International Container Terminal Services Inc (ICTSI) to appeal a decision that temporarily stops the nation’s state-owned logistics firm from going ahead with its partnership with ICTSI to expand and run sub-Saharan Africa’s biggest container port. The KwaZulu-Natal High Court in October blocked the deal temporarily after an [...]

HSBC and the World Bank's International Finance Corporation (IFC) will jointly provide funding to trade transactions valued at up to $1-billion, in a move to help fill a gap in financing for emerging market trade. IFC and HSBC said on Thursday they would equally share the risk on a portfolio of trade-related assets held by [...]

JSE- and ASX-listed Renergen has provided an update on ongoing actions involving its majority-owned subsidiary, Tetra4, which produces helium, and a proposed solar plant being planned by another entity. Renergen has welcomed the signing of the Upstream Petroleum and Resources Development Act into law in October.  

Cape Town’s V&A Waterfront plans a R20-billion expansion of the adjacent Granger Bay precinct and has sought permission from authorities in South Africa’s second-biggest city for the development. V&A — one of the continent’s most visited tourism and retail destinations — has asked the local council to approve an increase in its permissible development rights to [...]