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Industry News

Skills vital to develop local suppliers for automotive industry :
Publication Date: 10 April 2020
Skills are a critical requirement to sustainably allow for the establishment and development of local black suppliers to the automotive industry. Most of the suitable entrepreneur candidates to establish and run local component manufacturing and supply operations will come from the automotive industry, says industry body National Association of Automotive Component and Allied Manufacturers (NAACAM) VP Arthur Mtombeni.
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AfDB, Moz government ink deal to pave road crucial to trade :
Publication Date: 01 April 2020
The government of Mozambique and development finance institution, the African Development Bank (AfDB). have signed a protocol agreement for a $34-million grant for the paving of the 35 km Nambungali-Roma road, in Mozambique, to facilitate trade and promote social inclusion of local communities. The works form part of the second phase of the Mueda '“ Negomano road project, which seeks to improve transport infrastructure between Mozambique and Tanzania.
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Engen refinery temporarily shut amid low demand :
Publication Date: 30 March 2020
The Durban-based petroleum refinery of fuels, lubricants and oil-based products distributor and marketer Engen has undergone a temporary controlled shut down, effective March 27, as a result of forecasted lower demand for petroleum products during the national lockdown which came into effect from on the same day. The Engen refinery produces about 17% of South Africa's fuel.
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Insurers try to ease burden on policyholders amid Covid-19 pandemic :
Publication Date: 30 March 2020
To help ease the financial burden potentially brought to some people by the slow-down in business during the coronavirus pandemic and national lockdown, Momentum Short-Term Insurance (MSTI) is giving clients early access to R26-million in future no-claims and safety bonuses. To provide immediate financial relief, MSTI states that clients can now opt to take an early cash benefit from their Rewarder Bonus '“ no claims bonus '“ and clients can also opt to cash in early on their safety bonus.
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