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Justin Brown
City Press Business Editor. Ex Business Report News Editor, Online Editor & resources reporter. Opinions my own. Retweets and follows are not endorsements.
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Justin Brown retweeted
City Press 8h
Black Business Council to host a summit set to give major political parties an opportunity to win over its vote on May 8. “We will invite the main political parties to come tell us what their posture on BEE is."
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Justin Brown Feb 15
The Commission of Inquiry looking into allegations of impropriety at the Public Investment Corporation today submitted its interim report to President Cyril Ramaphosa. The commission will resume with public hearings on the February 25.
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Justin Brown Feb 14
Mineral Resources Minister Gwede Mantashe will visit Gloria coal mine in Middleburg, Mpumalanga today, to receive a progress report on rescue efforts for 22 people believed to be trapped underground, the Department of Mineral Resources says in a statement.
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Justin Brown Feb 14
Investec: Load shedding will hit local industrial output and if it persists over 2019, will necessitate a downward revision to our GDP growth forecast of 1.7% for 2019, to between 1% to 1.5%. Weaker GDP growth would be credit negative for SA, as SA’s debt projections would rise.
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Justin Brown Feb 14
Mineral Resources Min Gwede Mantashe: Notes Sibanye-Stilwater statement regarding retrenchments at Beatrix & Driefontein gold mines. State will work in line with Mineral & Petroleum Resources Development Act, which requires Sibanye to find ways to save jobs during restructuring.
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Justin Brown Feb 14
Sibanye-Stillwater has announced today that 5,870 employees and 800 contractors could possibly lose their jobs at its Beatrix 1 and Driefontein 2,6,7,8 shafts. This follows the move by the company to formally restructure its gold operations and associated services.
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Justin Brown retweeted
City Press Feb 12
Newsletter| A multimillion-rand tender with the City of Johannesburg – that had the potential to be one of the good stories of government’s vision to empower black women – has gone sour and the city is being sued R8 million for not honouring the contract
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Justin Brown Feb 12
Moody's: SA electricity system is under extreme pressure and the reserve margin is likely to remain tight until at least the mid-2020s. The country will remain dependent on Eskom for the foreseeable future, although its importance could gradually diminish.
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Justin Brown Feb 12
Vodacom CEO Shameel Joosub: Vodacom welcomes the move by Communications Minister, Stella Ndabeni-Abrahams, to withdraw the Electronic Communications Amendment Bill. Vodacom is of the view that state's objectives for the sector can be achieved within current legislative framework.
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Justin Brown retweeted
City Press Feb 12
Despite six consecutive legal losses for Tom Moyane and his legal counsel, the former SARS commissioner might still look to the courts to challenge the interim report that recommended that he should be fired. By
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Justin Brown retweeted
City Press Feb 11
Trade unions are vehemently opposed to President Cyril Ramaphosa’s announcement that Eskom will be split into three units. NUM general secretary David Sipunzi says NUM members are angry and could decide not to vote for the ANC in the upcoming elections
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Justin Brown retweeted
City Press Feb 11
Newsletter| The EFF’s election manifesto on the economy will be well received by its young black constituency for its detailed analysis on where the budget should be spent – but it lacks detail on where money will be sourced from, writes Lumkile Mondi
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Justin Brown Feb 11
The rand has touched 13.77 to the US dollar, it weakest level in over three weeks. Investec says the rand is weakening towards R14 to the US dollar, after brief January strength, as realities of the SA Budget, Moody's warning today and Eskom woes hurt the local unit.
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Justin Brown retweeted
City Press Feb 10
Considerable credit for the fact that there is a commission of inquiry into the Public Investment Corporation should go to the Public Servants’ Association of SA. The union was first to raise serious questions about the PIC, writes
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Justin Brown retweeted
City Press Feb 10
Cosatu president Zingiswa Losi has warned that government should consult with it in good faith on the planned unbundling of Eskom: “We stand opposed, but we can’t sit it out because of that opposition ... We will go and engage with government”
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Justin Brown Feb 10
Replying to @SwatiChief @City_Press
The story is on page 4 of the business.
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Justin Brown retweeted
City Press Feb 9
In Business today: NUM threatens no vote over Eskom's split; multimillion-rand tender with City of Johannesburg that had potential to empower black women goes sour; building of R1.6bn Mtentu megabridge in Eastern Cape faces significant delays
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Justin Brown retweeted
City Press Feb 9
Amcu strike gets the nod as Sibanye's attempt to declare it illegal fails, by
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Justin Brown Feb 7
Ramaphosa: To ensure the credibility of Eskom's turnaround plan and avoid a similar financial crisis in a few years’ time, Eskom will need to develop a new business model. This business model needs to take into account the root causes of its current crisis.
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Justin Brown Feb 7
Ramaphosa: Government will support Eskom’s balance sheet, and the Minister of Finance Tito Mboweni will provide further details on this in the Budget Speech on February 20.
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