Mid-tier mining and materials company Afrimat’s strategy to diversify between commodities and revenue streams, coupled with stringent capital allocation, has enabled the group to continue to weather economic and commodity shocks in the six months to August 31, group CEO Andries van Heerden said on October 26. Afrimat’s businesses comprise Construction Materials, consisting of aggregates [...]

The World Bank has approved a $1-billion Development Policy Loan (DPL) to support market reports under way in the country, as well as South Africa's low-carbon transition.  

Investment manager Stanlib, together with group companies Standard Bank and Liberty, is launching a large-scale Energy Transition Fund to assist with the energy transition across the continent. Standard Bank and Liberty will provide initial seed assets of R3-billion to the fund, which will be managed by Stanlib.

While South Africa’s railway sector works to rebuild post-pandemic, riots and a variety of disasters, the latest Railway Safety Regulator’s (RSR’s) State of Safety Report 2022/23 has painted a bleak picture of the safety of the railway system that demands immediate action. South Africa’s Transport Deputy Minister Lisa Mangcu said the outcome unveiled a stark [...]

Transnet is seeking more than R100-billion from the Treasury over the next two years, according to the turnaround plan produced by the board.  The R100-billion includes a request that the Treasury take over a minimum of R61-billion of its debt and provide R47-billion in an equity injection or a subordinated loan that can be converted [...]

The copper production of diversified mining company Anglo American increased by 42% in the third quarter owing to the ramping up of the new Quellaveco copper mine in Peru. However, this was offset by rough diamond production decreasing by 23% and steelmaking coal production decreasing by 21%.

A major unaddressed issue in the manufacturing industry remains a shortage of skills, said economic consultancy Econometrix director and chief economist Dr Azar Jammine in opening this year’s Manufacturing Indaba on October 24. South Africa has a mismatch between the skilled workforce needed in manufacturing and an abundance of no- to low-level skills. He noted that it [...]

Futuregrowth Asset Management, a South African money manager overseeing more than R190-billion of fixed-income assets, says the government’s draft legislation meant to address inefficiencies at state entities is “ineffective, overdue, vague, and contradictory”. The National State Enterprises Bill aims to establish the State Asset Management, a holding company to consolidate the state’s shareholdings. But the draft [...]

President Cyril Ramaphosa has hailed the efforts by law enforcement agencies and the South African Revenue Service to bust coal smuggling syndicates operating in the country. Planned search and seizure operations targeting coal smuggling syndicates have gained traction across five provinces with the documents of individuals alleged to have committed procurement fraud, tax crimes and coal diversion [...]

Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy. The predicted peak, which the agency also anticipates for coal and natural gas, doesn’t mean a rapid plunge in fossil fuel consumption is imminent. [...]

Airbus Defence and Space, part of the Europe-based global major Airbus aerospace group, announced on Monday that it had signed two major contracts with agencies of the French Ministry of Defence, for the enhancement and support of that country’s fleet of A330 multirole tanker transports (MRTT). The contracts have a total value of €1.2-billion. In [...]

Intermodal containers lessor Textainer Group Holdings has entered into a definitive agreement to be acquired by alternative investment firm Stonepeak for about $7.4-billion. Upon completion of the transaction and the redemption of Textainer’s series A and B cumulative redeemable perpetual preference shares, Textainer will become a privately held company.