Business Articles
07:16 (GMT+2), Tue, Tuesday, March 25, 2014
Massive capital expenditure by SA motor vehicle manufacturers  The seven major vehicle manufacturers in South Africa and a number of specialist truck producers will spend a projected R7.9 billion this year. The National Association of Automobile Manufacturers of South Africa said in a statement that capital expenditure in the area of product, local content, export investment and production facilities is projected to reach R7.9 billion this year, almost double the figure from last... read more
14:40 (GMT+2), Wed, Wednesday, March 19, 2014
Comair places $830m aircraft order  The South African company, Comair, has placed a $830m order for eight next-generation Boeing 737 MAX aircraft. The Boeing aircraft company says in a statement on its website that the order was the first for Boeing 737 MAX-aircraft on the African continent. Comair is the British Airways franchise partner in South Africa and also operates the continent's first low-cost airline, kulula.com. These airlines have regular... read more
16:46 (GMT+2), Mon, Monday, March 17, 2014
 Chinese company's plan to invest billions in the Eastern Cape The Department of Economic Development has welcomed an R18-billion proposed investment in the Eastern Cape by Chinese telecommunications infrastructure company DY-link. The investment announced at Coega on Monday has the possibility of creating 4600 jobs. DY-link group president, Alex Hu said the company was keen to implement their South African investment plan as soon as possible and that their aim was to reinforce and ... read more
17:05 (GMT+2), Wed, Wednesday, February 12, 2014
Stephen Dondolo and Clive Berlyn Eastern Cape investment company, African Pioneer, has taken a 22 percent stake in another home-grown company, Caltex Eastern Cape Marketers. The R15-million deal was announced today by African Pioneer's Stephen Dondolo and the CEO of Caltex Eastern Cape Marketers, Clive Berlyn. Both companies have substantial business investments in the Eastern Cape and through the partnership aim to grow their businesses in this provinc... read more
15:29 (GMT+2), Tue, Tuesday, January 14, 2014
Muted SACCI survey outlook for 2014 The SA Chamber of Commerce and Industry's (Sacci) 2013 annual survey shows a muted outlook for the year. However, there were better expectations, said Sacci CEO Neren Rau. "The escalating cost of doing business (including electricity costs and municipal levies) is currently the biggest concern of business (42 percent), followed by the related concept of regulatory compliance cost at 16 percent. "The third bi... read more
15:24 (GMT+2), Thu, Thursday, November 21, 2013
Finance MEC Pumulo Masualle tables mini budget Eastern Cape Finance MEC, Pumulo Masualle, says the recent industrial action in the automotive manufacturing sector had dampened growth prospects in the province. Presenting his Medium Term Budget Policy Statement and Adjustment Budget in Bhisho on Thursday, Masualle described the economic outlook for the province in the rest of the 2013/14 financial year as moderate. He said that over the "over the past five years ... read more
16:29 (GMT+2), Mon, Monday, September 02, 2013
NAAMSA releases August new vehicle sales figures In amplification of the new vehicle sales statistics for the month of August, 2013 – released today for public consumption on the website of the Department of Trade & Industry - the Association commented that the August, 2013 new vehicle sales were largely in line with industry expectations. By virtue of existing inventory levels in the industry, the impact on domestic sales of the current industrial action at the ... read more
11:23 (GMT+2), Fri, Friday, August 02, 2013
Volkswagen SA records best monthly result  Volkswagen South Africa says it recorded its best monthly result in 2013 with sales of 10 613 units. In July 2013, 40 274 new passenger cars were sold in South Africa, an increase of 8.5% when compared to June 2013 and up by 6.4% against the July 2012 sales. VW SA says the market results reflect the on-going positive demand for new vehicles. General Motors says vehicle sales continue to perform at higher than ex... read more
07:38 (GMT+2), Sat, Saturday, July 13, 2013
MBDA appoints top marketer The Mandela Bay Development Agency has appointed "highly experienced marketing executive Luvuyo Bangazi who has joined the agency from July as their Marketing and Communications Manager." MBDA says Luvuyo, an inaugural 2011 Top 40 under 40 business achiever, has been a partner and director of the highly successful Port Elizabeth advertising agency, Boomtown, for nearly ten years. His core objective at the MBDA ... read more
17:02 (GMT+2), Thu, Thursday, July 11, 2013
Bay residents In a South African first, residents of Nelson Mandela Bay are able to grid connect their renewable energy systems to the national electricity grid. This, after the Municipality and the National Energy Regulator jointly approving systems of up to 100 kilowats to be grid connected. Details of the Small Scale Embedded Generation Scheme were unveiled at a joint business briefing by the Nelson Mandela Bay Business Chamber a... read more
16:08 (GMT+2), Mon, Monday, July 01, 2013
NAAMSA comment on 2013 South African new vehicle sales statistics NAAMSA COMMENT ON THE JUNE, 2013 SOUTH AFRICAN NEW VEHICLE SALES STATISTICS In amplification of the new vehicle sales statistics for the month of June, 2013 – released today for public consumption on the website of the Department of Trade & Industry - the Association commented that the June, 2013 new vehicle sales had largely been in line with Industry expectations. The automotive sector had registere... read more
12:16 (GMT+2), Fri, Friday, June 28, 2013
VW dealership gets a R13m facelift After 44 years of service,the landmark VW building, situated on Mount Road is undergoing a revamp to the tune of R13 million. The revamp will boast a new VW Crafter Workshop, be home to the MotoRent division and every floor has been remodeled with new amenities for staff and customers. “We will be back in operation in August,” said Mr. Alan Taverner chairman of Tavcor Motor Group. The revamp also prepares a w... read more
13:03 (GMT+2), Thu, Thursday, June 27, 2013
 Major export order for GMSA Eastern Cape-based motor manufacturer, General Motors South Africa, has announced a major export order. The company said on Thursday that it had been awarded a R6bn export contract in partnership with component manufacturer Tenneco South Africa, for the supply of catalytic converters to North America. The programme is a major boost to the Eastern Cape economy and will create and retain employment through various value s... read more
17:03 (GMT+2), Wed, Wednesday, June 26, 2013
Massive Bay West Mall continues to take shape The developers of the R1.7bn Bay West Mall, have unveiled plans for a massive ice rink that will be one of the centre-pieces of the upcoming super regional mall. Speaking at at on on-site media briefing on Wednesday, project principal agent, John Townsend, said the project was progressing well and they remain on track to complete construction by March 2015. He said negotiations for an ice rink were at an advanced stages,... read more
15:33 (GMT+2), Tue, Tuesday, June 18, 2013
Mayor of Ikwezi Muncipality Sizwe Mngwevu at the launch of the 2013 International Mohair Summit More than 200 delegates and more than 250 farm workers are expected to participate in the 2013 International Mohair Summit. The international summit is set to take place at the end of October in Jansenville, which is in the heart of mohair country. The summit programme also includes an investor conference which will provide an opportunity for goverment to engage local and international investors. Speaking at the media... read more
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