Latest News & Developments
South Africa's mining sector receives a transformative boost with the launch of a R400 million Junior Mining Exploration Fund, aimed at empowering black-owned mining companies and revitalising the country's exploration activities. This initiative could be the key to unlocking the nation's vast mineral wealth while promoting inclusive economic growth.
The imminent closure of ArcelorMittal's Newcastle furnace threatens over 3 500 jobs and South Africa's industrial future. Cosatu calls for urgent intervention to prevent an economic catastrophe in KwaZulu-Natal and protect the nation's steel manufacturing capacity.
November may have represented the second consecutive increase in monthly new vehicle sales this year and might signal the start of a long-awaited upward trend in the market, but total domestic sales, year-to-date to the end of November, was down 3. 47% to 474 469 units, versus the same period last year
Trade, Industry, and Competition Minister Parks Tau lauded the appointment as a historic milestone for South Africa
I’m concerned at the pedestrian uptake in youth entrepreneurial ingenuity across key sectors of the economy.
This fund was launched in recognising the negative impact of load shedding on small, medium and micro-sized enterprises and the additional costs associated with adopting alternative energy sources.
The funding is aimed at supporting the IDC’s mandate to promote industrial capacity, foster an inclusive economy and maximise development impact across various sectors.
When the couple applied for R53 million funding from IDC, they were obliged to have R1 million in their company account, and they allegedly falsified bank statements.
OPINION: During the black industrialist era, we recognised that we needed to develop specialised industries and manufacturing belts to not only create employment and transfer technologies but also to reduce import dependency, writes Dr Anna Mokgokong.
One of the fundamental flaws limiting this programme’s success is the lack of a clear and well-articulated description, coupled with a broader vision of what the notion of a black industrialist actually entails.
AfCFTA is expected to increase intra-African trade in transport services by nearly 50%, according to the latest estimates by the Economic Commission for Africa
Hemp4life CEO Ben Sassman detailed the zero lack of funding for farming and processing of the industry to regulatory bottlenecks from the expensive water licence to stringent laws that make it illegal still to trade in hemp and cannabis products in the country.
Can mining withstand the power of positive disruption?
The Department of Mineral Resources and Energy and the Industrial Development Corporation signed a memorandum of agreement marking the establishment of the exploration fund.
The COP28 summit has put a firm spotlight on the damaging effects of climate change in developing economies including South Africa.
Does the Public Investment Commission (PIC) have a mandate from the private workers' Unemployment Insurance Fund (UIF) to invest or deviate from objective commercial investment decisions to assist the government in funding essential functions? By the close of the previous financial year to March 2023, the UIF was the second largest client of the PIC, after the Government Employees Pension Fund (GEPF), with 5. 14% of the portfolio of Assets under Management, which grew by 13% to R135 billion in the period under review.
Tongaat Hulett’s business rescue practitioners have now named Kagera Sugar of Tanzania as the winning bidder in a deal believed to be worth over R3 billion, but a consortium backed by SA billionaire Robert Gumede is crying foul over the decision.
The IDC and the Bank of China have signed a R10 billion funding framework agreement in one of the key developments ahead of the BRICS Summit, which kicks off on Tuesday.
Newco, aspiring to take over embattled Tongaat Hulett, has said the post-commencement finance windfall from the Industrial Development Corporation to keep the mills running is not enough.
OPINION: We have seen that when women are empowered as business owners, society benefits since women business owners help communities flourish socially as well as economically, writes Emeka Umeche.
On the December 6, 2022, an application from Ilitha was heard in the Western Cape High Court, in which Ilitha applied to place the Sunrise Energy Group into business rescue.
The company ceased operation and was liquidated in or about October 2008 and the remainder of the funding has never been publicly accounted for.
MC Mining’s share price plunged nearly 21 percent yesterday to R1. 10 despite the South Africa-focused coal mining firm saying it had narrowed its interim loss, boosted by higher coal prices.
Mara Phones went viral on social media last week after allegedly going bust despite receiving hundreds of millions of rand in funding.
Staff at Mara Phones in Maponya Mall, Johannesburg, had no knowledge that the Mara manufacturing plant in Durban’s Dube TradePort, which was the only local producer of smartphones, was closed and being auctioned.