INDUSTRY NEWS

President Cyril Ramaphosa, who sought to align his nascent presidency as closely as possible with that of President Nelson Mandela in his inaugural State of the Nation (SoNa) address on Friday night, announced that a jobs summit would be convened in the coming months to allow social partners to come up with "practical solutions" to the country’s high unemployment rate. Framed under the theme of "hope and renewal", the address was not characterised by the disruptions to which South Africans had become accustomed in recent times. Instead, the mood was joyous and collegial, with a number of Ramaphosa’s points being...
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Law firm Werksmans Attorneys on Friday said it was surprised at State-owned Transnet board's attempt to absolve anyone of wrongdoing when its report into alleged fraud related to the procurement of 1 064 locomotives, had concluded that, not only should Transnet institute appropriate disciplinary action against those individuals identified in the report, but also that law enforcement agencies should be brought in to investigate the matters identified in the report. This follows after Transnet on Thursday said it had resolved that the report compiled by Werksmans, which had been tasked by the Transnet board to investigate the alleged fraud, was...
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Two print media companies have concluded consent agreements with the Competition Commission and agreed to pay fines amounting to millions of rands after admitting to participating in price fixing and the fixing of trading conditions in contravention of the Competition Act. The two separate agreements were confirmed as orders of the Competition Tribunal on Friday.  Under the terms of its agreement with the commission, Caxton has agreed to a penalty of R5.81-million and has agreed to several remedies, including the payment of R2.09-million to the Economic Development Fund over three years.
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The Coega Development Corporation (CDC) will hold its inaugural Supplier Development Day at the Vulindlela Accommodation and Conference Centre (VACC), in Coega, in the Eastern Cape, on February 22. The event seeks to facilitate access to information for small, medium-sized and microenterprises (SMMEs) on business opportunities, as well as enterprise development programmes.
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South Africa's Treasury is set to present its 2018 budget to parliament on Wednesday but market focus is on whether new President Cyril Ramaphosa will reshuffle the cabinet before then and replace Finance Minister Malusi Gigaba. Ramaphosa was sworn in as head of state on Thursday after his scandal-plagued predecessor, Jacob Zuma, reluctantly resigned on orders of the ruling African National Congress (ANC) after nine years in office blighted by corruption, economic mismanagement and disputed appointments.
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Isuzu Motors South Africa (IMSA) on Friday not only launched its standalone business at its manufacturing plant in Struandale, Port Elizabeth – apart from the General Motors brand, following the latter’s exit from South Africa last year –  but also showcased its new bakkie-derived sports utility vehicle (SUV), the seven-seater mu-X, for the first time. Speaking at the launch, IMSA technical services executive Dominic Rimmer said the company did extensive market research prior to bringing the vehicle to South Africa.
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INYATSI IN THE PRESS

Big business can help small entrepreneurs excel Print

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Win a R150 000 bursary with Inyatsi Construction | Kaya FM Gauteng

Win a R150 000 bursary with Inyatsi Construction | Kaya...