SA desperately needs a manufacturing revival

Focusing on local procurement can induce a ‘virtuous demand cycle’ of boosted production, employment and people buying more local products: Manufacturing Circle’s Philippa Rodseth. Roy Cokayne 5 Aug 2020  00:03 Manufacturing is a key cog in the wheel of SA’s economy, especially because of the multipliers associated with it, such as the high labour absorption rate and enabling exports.This is according to Department of Trade, Industry and Competition (dtic) chief director of industrial procurement, development and localisation Tebogo Makube, who was part of a Gauteng Growth and Development Agency (GGDA) webinar on…

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Craft brewers throw the switch on their brew kettles

    With seven breweries already forced to switch off their coppers for good, the numbers indicate a sector under severe siege, and inevitably more closures to come. The people driving the craft brew revolution were almost textbook examples of the new “agile” organisation. They were team-based (albeit small), moved quickly, or as a McKinsey study described it, being agile meant they had “velocity and adaptability”. But even they are finding the ban on alcohol may be too extreme to cope with. And even a reopening of the industry, as…

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Veer Steel Mills’ women commemorate Women’s Day

  On August 7, women of Veer Steel Mills took to the streets of Alrode to demonstrate and redo the march that happened on August 9, 1956. The day kicked off with a presentation where attendees were addressed on burning topics and those who outshined themselves in their departments were also recognised. While observing lockdown regulations, they continuously took turns in addressing attendees and encouraged each other as women in a male-dominated field. Members of the Alrode company later marched hoisting placards which stood against gender-based violence and which also…

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How the Covid-19 crisis is different from other financial disasters

The Covid-19 crisis is different to some of the other economic crises we’ve experienced in living memory for three key reasons, particularly when compared to the global financial crisis (GFC). During the GFC, many developed economies, because of the financial services aspect of the crisis, were significantly affected. “This time around, with Covid-19, we’ve also seen emerging markets facing a lot of pain and, in some instances, emerging markets actually contracted by even more,” according to Sanisha Packirisamy, economist at Momentum Investments. Manufacturing sectors came under pressure during the GFC,…

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Troubled SA arms maker Denel appoints interim CEO

    JOHANNESBURG – South Africa’s struggling state-owned aerospace and military technology company Denel said on Monday its board had appointed independent non-executive director Talib Sadik as interim group chief executive officer with immediate effect. Cash strapped Denel has struggled to pay workers’ salaries for months, and the government was forced to inject a R1.8 billion (now US$104 million) recapitalisation bailout last year which was widely criticised by opposition parties. Last month the arms maker said chief executive Danie du Toit would step down on August 15, but did not…

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Crazy-rich Africans fear instability

    Nearly all of the high-net-worth individuals in South Africa are concerned about the country’s political environment as they look to create, preserve and spend their wealth. This is according to Standard Bank’s African Wealth Report 2020, released on Wednesday. In Ghana, 67% of the highest earners share this sentiment while in Nigeria and Kenya 64% and 55%, respectively, of high-net-worth individuals are concerned about the politics in their country. Unlike the respondents in the other four countries, only 31% of wealthy individuals in Mauritius view the political environment…

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SA-owned LightWare receives $1.5-million investment

The investment will take African tech to the next level, establishing LightWare in the global industry The investment funding provided will allow LightWare to rapidly create a series of innovative products using technology. Backed by 27four, Sanari Capital’s Lower and Mid Market Fund has made its first investment and chosen LightWare as the innovative company to back. Moushmi Patel, Partner at Sanari Capital comments on the investment placed into LightWare. “Not only does LightWare present an opportunity for attractive financial returns, confirmed by its profiling by Silicon Valley veteran investment bank,…

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Novavax begins mid-stage study of Covid-19 vaccine in South Africa

Aug 17 (Reuters) – U.S. drug developer Novavax Inc said on Monday that it is starting a mid-stage study of its experimental COVID-19 vaccine in South Africa, as the country experiences a surge in coronavirus cases. The Phase 2b trial study of NVX-CoV2373 will be conducted on about 2,665 healthy adults and will evaluate the safety and immunogenicity in about 240 medically stable, HIV-positive adults, the company said in a statement. “Because South Africa is experiencing a winter surge of COVID-19 disease, this important Phase 2b clinical trial has the…

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Not so fast, Tiger Brands

BUSINESS MAVERICK By Ray Mahlaka Tiger Brands, Africa’s biggest packaged-food company, plans to sell its businesses sullied by the listeriosis outbreak. Tiger Brands said any potential liability (or monetary settlement) under the ongoing class-action lawsuit – launched by human rights attorney Richard Spoor on behalf of the families of listeriosis victims – will not transfer to the new owners of the meat processing businesses. The sale of Tiger Brands’ businesses that fall under its meat processing division, which was a major source of SA’s listeriosis outbreak nearly four years ago,…

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The most in-demand job skills in South Africa right now

  CareerJunction has published its latest monthly jobs index for July 2020, showing which jobs are currently the most sought after in South Africa. The CareerJunction Index (CJI) represents online labour dynamics in South Africa by providing a detailed analysis of the relative ratio of supply and demand in the online job market. The CJI is based on comprehensive data gathered from the CareerJunction website. The index for July settled at 99 index points indicating little change in supply and demand in the local labour market, the jobs portal said. “Recruitment activity…

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