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iKhokha recently achieved the MTN Financial App of the Year Award

Fintech app surpasses R2bn in disbursements

Published: 05 Jul 24

KwaZulu-Natal-based fintech company iKhokha, which recently achieved the MTN Financial App of the Year Award, has disbursed more than R2-billion in working capital to its small- and medium-sized enterprise (SME) customer base, in partnership with business-to-business service Retail Capital, now a division of TymeBank. “In a tough South African economic climate with gloomy daily headlines, to have been able to inject R2-billion worth of working capital into the small business sector in South Africa is a really special achievement and milestone for us collectively,” says iKhokha CEO and cofounder Matt Putman.

An image of a worker conducting inspections

NDT testing expert launches vendor inspection services

Published: 05 Jul 24

Non-destructive testing (NDT) and inspection provider DEKRA Industrial South Africa (SA) has launched local vendor inspection and expediting services, leveraging its global vendor inspection network and NDT and inspection expertise, to service various industries, including power generation, petrochemicals, steel fabrication and mining. Globally, Dekra already provides inspection and expediting services in more than 60 countries, with over 2000 inspectors worldwide. “It therefore made sense that we would also launch this much-needed service locally, as we can leverage our extensive global network, collaborating seamlessly on a daily basis - particularly in key markets such as India and China, with which we work closely,” says DEKRA Industrial SA MD Johan Gerber.

Renewables project to power miner’s KwaZulu-Natal operations

Published: 05 Jul 24

Richards Bay Minerals (RBM), a division of diversified miner Rio Tinto, is set to receive 140 MW of renewable energy from the Khangela Emoyeni Wind Farm, in South Africa’s Western and Northern Cape provinces, through a power purchase agreement (PPA). The project is expected to support RBM’s operations in KwaZulu-Natal and reduce RBM’s yearly carbon emissions by 20%, which aligns with Rio Tinto's broader commitment to reducing Scope 1 and 2 greenhouse-gas emissions by 50% by 2030 and achieving net zero by 2050.

A generic image of galvanised steel sheeting

Bottlenecks affecting company’s operations

Published: 05 Jul 24

Local supply chain and logistics bottlenecks have significantly impacted on steel trading and distribution company Tradecore Steel’s manufacturing operations. These bottlenecks can be attributed to delays in raw material deliveries, transport inefficiencies and port congestion, all of which have led to increased costs and production delays. Consequently, this has affected the steel industry’s competitiveness and innovation capacity, the company adds.

A generic image of large steel components

Strong relationships underpin success

Published: 05 Jul 24

Structural steel fabrication company Cousins Steel International (CSI) asserts that succession planning and robust synergies are the catalysts that have led to its enduring success. The company, which blends its decades-long legacy with modern steel technology and insights, is proud of its background and track record and equally, of its current synergies which energise and drive the business forward today.

An image of the Morris Material Handling staff personnel

Company awarded tender for 100-t crane

Published: 05 Jul 24

Multinational steel manufacturing corporation ArcelorMittal South Africa (AMSA) has awarded a tender for a 100-t engineered crane to Southern Africa’s largest crane company Morris Material Handling. Morris Material Handling plays a crucial role in the supply and manufacturing of equipment for industrial applications. Providing electric overhead travelling cranes, wire rope hoists, jib cranes, chain hoists, and accessories, the company has established a laudable reputation for its professional expertise in design, fabrication and assembly of light-, medium-, and heavy-duty lifting products.

Cape Town hits apartment developer with R1m penalty

Published: 05 Jul 24

Cape Town mayor Geordin Hill-Lewis has upheld a decision by the city’s Municipal Planning Tribunal to impose a record R1-million penalty for unauthorised construction work in Belville. The penalty relates to a developer, named as Steven Kampies, constructing a 22-unit apartment building where only a single dwelling is permitted.

Consistent pipeline all that is needed to resuscitate SA construction

Published: 05 Jul 24

A consistent and predictable pipeline of construction and infrastructure development projects, which must be underpinned by political support and leadership, is all that is necessary to accelerate construction and development in South Africa. Once there is sufficient clarity on projects, the construction industry can respond by investing in equipment and capacity at a suitable scale.

Steel key to circular economy

Published: 05 Jul 24

Not-for-profit trade organisation, the Hot Dip Galvanizers Association of South Africa (HDGASA) implores its members to embrace the important role that steel can play in promoting a circular economy. “Hot dip galvanisers can contribute to the circular economy, moving away from the ‘take, make, dump and generate waste approach’ to one in which items are repurposed, conserving important resources and energy,” asserts HDGASA executive director Robin Clarke.

Onus on sector to optimise steel capacity – SAISI

Published: 05 Jul 24

Amid the mounting challenges of slow economic growth and increased steel imports, steel representative organisation the South African Iron and Steel Institute (SAISI) emphasises the need to address trade barriers and use steel capacities effectively to unleash opportunities on the continent. Overall steel consumption decreased by 23% over the past decade, even as imports surged to 30% of total consumption, highlights SAISI secretary-general Charles Dednam.