Not all bad news for manufacturing sector

  Durban – KwaZulu-Natal manufacturers are facing a tough time due to low demand brought about by a sluggish economy but the government is intervening by meeting with captains of industry in a bid to stem job losses. KwaZulu-Natal Department of Economic Development, Tourism and Environmental affairs acting head of department, Siza Sibande told delegates at the KZN Manufacturing Indaba in Durban last week that it was important for the government to respond to the challenges facing businesses by reassessing its policies and the structure of the economy. He said…

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First Cut ‘cuts’ a vibrant new profile in Mpumalanga

First Cut is developing an exciting new profile in the Lowveld at Mbombela (formerly Nelspruit). Their presence builds on the foundation of an existing company, Bremsaw, which is a well-known local saw doctor business, explains Director of First Cut, Gary Willis. Dave and Anna Bremner owned the company for some 20 years. While the company had been a customer of First Cut for many years buying various sawing-related products, a change came about when Dave and Anna decided to sell their business. Willis has had a long and successful relationship…

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Ghana to offer automakers tax breaks to set up manufacturing plants

  Ghana will offer tax breaks of up to 10 years to automakers that set up local manufacturing plants, as the government seeks to attract international companies such as Volkswagen AG and Nissan Motor Co. Volkswagen and Nissan both agreed last year to set up auto-assembly plants if Ghana signed off on an official incentive plan, while Renault SA said in January it would consider a similar move. In March, Toyota Motor Corp. and Suzuki Motor Corp. announced a joint venture to produce vehicles in the nation. Ghana’s move to…

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Tanzanian PM urges local manufacturers to capture Southern African market

DAR ES SALAAM, Aug. 6 (Xinhua) — Tanzanian Prime Minister Kassim Majaliwa on Tuesday urged local manufacturers of various goods to capture the expansive market in the 16 member states of the Southern African Development Community (SADC). “Tanzanian local industries are manufacturing goods that can compete in the SADC market and elsewhere,” Majaliwa told a news conference shortly after he visited the 4th Annual SADC Industrialization and Exhibition Week in the business capital Dar es Salaam. The 4th SADC Industrialization Week and Exhibition, which was officially opened by President John…

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South African Factory Sentiment at Three-Year High

      Absa Group Ltd.’s Purchasing Managers’ Index, compiled by the Bureau for Economic Research, increased to 52.1 from 46.2 in June, the Johannesburg-based lender said in an emailed statement Thursday. That’s the first time since December that the index is above 50, which indicates expansion. The median estimate of 4 economists in a Bloomberg survey was 46.5. (Bloomberg) –The jump to a three-year high in a gauge measuring sentiment in South Africa’s manufacturing industry may not be sustainable. Key Insights The subindex for new-sales orders rose above 50…

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Jury is out on SA economy as manufacturing, mining data expected this week

JOHANNESBURG – South Africans will this week have a clear picture of how the economy fared in the second quarter with the release of June’s manufacturing and mining production data. Statistics South Africa will this week release output data for the two embattled sectors which contributed negatively to first quarter’s shock 3.2 percent plunge in gross domestic product (GDP). Manufacturing declined 8.8 percent, mining and quarrying industry dropped by 10.8 percent. FNB chief economist Mamello Matikinca-Ngwenya said the mining sector has remained in the doldrums, contracting on an annual basis since November last…

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SA accelerates the manufacture of trains

The Passenger Rail Agency of South Africa (Prasa) is accelerating the manufacturing of trains in order to deal with the backlog in the supply of commuter trains, says Transport Deputy Minister Dikeledi Magadzi. “This forms part of the Department’s rail modernisation programme through which we shall ensure that rail becomes the backbone of both passenger and freight transportation in South Africa,” Magadzi said. Addressing the Women in Transport “Empowerpreneurship” Summit in Cape Town on Thursday, she said improving transport is an essential ingredient in improving the lives of people. “This…

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An SEZ could revive manufacturing capacity in Vaal Triangle

“Collaboration is the key to the success of SEZ initiatives;” says Zak Sivalingum, FNB Gauteng East Regional Head. An important attribute that South Africa can take away from the success of Special Economic Zones (SEZ) at a global level is the importance of collaboration between key public and private stakeholders to attract Foreign Direct Investment (FDI), boost economic growth and industrialisation. Although growth has been subdued for several years, there is still potential to open up opportunities for both small and established businesses while stimulating economic activity and creating much…

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R50M composites factory opened in Germinston

CAPE TOWN – BFG AFRICA, a company that is 51percent owned by black-owned investment group Mergence and Bahrain-based BFG International, yesterday opened a R50million composites manufacturing plant in Germiston. The group described the facility as the first facility of its kind in the country. It said the factory would produce materials made of fibre-reinforced plastic for use in the infrastructure, mining, automotive, transport and architectural sectors. The materials are used for their durability, light weight and are claimed to be environmentally friendly. BFG International is one of the largest diversified…

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Consumers Warned to be Vigilant when Purchasing Household Goods

Consumers need to be more vigilant this winter as substandard goods are flooding the market at a cheaper rate and attracting vulnerable consumers, especially the elderly. This was said by the Education and Awareness Officer of the National Regulator for Compulsory Specification, Mr William Tladi during the education and awareness campaign conducted by the Department of Trade and Industry (the dti) in Eshowe, KwaZulu-Natal today. The objective of the campaign was to educate the public about the socio economic impact of alcohol abuse, legal and illegal gambling activities, how copyright…

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