market intelligence
Businesses pledge over R76 billion to boost KZN economy Sixteen major KwaZulu-Natal businesses made pledges of over R76 billion over the next two years at the 2024 Trade and Investment Conference in Durban. The event included keynote addresses by KZN Premier Thami Ntuli , Minister of Trade, Industry and Competition (DTIC) Parks Tau , and Edtea MEC Rev Musa Zondi, who welcomed the pledges but also called for further investment during the conference to unlock KZN’s economic growth on a global stage… Read more
ArcelorMittal SA faces tough times ahead as imported steel weighs down operations A recent Business Report article says that optimism is waning for South Africa’s steel industry, with ArcelorMittal South Africa (AMSA) identifying the influx of cheap imports, high costs for energy and logistics and weak demand as contributing to this against the backdrop of fresh uncertainty for its longs business that has continued to operate at a loss…. Read more
Govt committed to enhancing rail and freight, Ramaphosa tells auto sector President Cyril Ramaphosa has reaffirmed the government’s commitment to improving South Africa’s rail and freight sectors during his keynote address at the SA Auto Week opening in Cape Town. His remarks come amid Transnet’s ongoing efforts to revitalise the Port of Durban and a R7.5-Billion project aimed at upgrading rail infrastructure between Gauteng and the Eastern Cape, a move designed to boost the automotive and component manufacturing industries… Read more
Dark clouds gather over some of South Africa’s biggest employers South African mining companies, particularly those producing platinum group metals, diamonds, and coal, are facing immense financial pressure as commodity prices remain weak and the operating environment is difficult. Once the backbone of the local economy, South Africa’s mining industry has been steadily weakened by volatile labour relations, organised crime, and regulatory uncertainty. Despite declining output, the sector is still vital to the economy, employing over 477 000 South Africans and paying billions of rands in tax each year... Read more
7
Issue 4 – 2024
Made with FlippingBook - professional solution for displaying marketing and sales documents online