Streaming issues? Report here
Refilwe Moloto 2019 1500 BW
Breakfast with Refilwe Moloto
06:00 - 09:00
volume_up
volume_mute

Up Next: Today with Kieno Kammies
See full line-up
Breakfast with Refilwe Moloto
06:00 - 09:00
Home
arrow_forward
Business
arrow_forward
Politics

'It's such a genius move by government to save ArcelorMittal'

2 December 2019 10:43 AM
Tags:
ArcelorMittal
Steel
Business Insider South Africa editor Helena Wasserman analyses the latest decision to try and stave off job losses in Saldanha.

At least 400 direct jobs will be lost when ArcelorMittal South Africa closes its operation in the Saldanha Bay area. Government has been involved in negotiations with the global steel giant to try and come up with a solution to avoid this.

Business Insider South Africa editor Helena Wasserman talks to Kieno Kammies about what lies ahead.

The Department of Trade and Industry has stated that there are two parties who have expressed interest in buying the operations in Saldanha.

It's such a genius move by government. ArcelorMittal said it is going to close it down, but then government said, but wait a minute.

Helena Wasserman, Editor - Business Insider South Africa

She says government made it clear that it had pumped billions into preparing local markets for the company providing import and tariff protection and needed to find alternatives to shutting down.

It is one of the only steel producers on the continent, and if we scale down production, once the economy starts picking up ArcelorMittal will be in the pound seats.

Helena Wasserman, Editor - Business Insider South Africa

Infrastructure spending since 2010 has dropped enormously and this has lowered demand for steel, she says.

Pick n Pay has continued to market their fresh produce towards gin drinkers and Wasserman also takes a look at Pick n Pay's controversial gin product and its decision this year to launch berries and botanicals for gin.

And Clicks Clubcard has found a new partner in Engen - soon after their quickie divorce from Shell.

Listen to the interview below:

Subscribe to our Business Wrap Newsletter


2 December 2019 10:43 AM
Tags:
ArcelorMittal
Steel

More from Business

smiley faces.jpg

Positive sentiment? How does one get it these days?

10 December 2019 8:35 PM

We feel like we've run out of positive sentiment - but this is what it's really about.

Share this:
Read More arrow_forward

sasol-ama-glug-glug-advert-1jpg

'Glug Glug' still our most beloved commercial of the last 35 years

10 December 2019 8:21 PM

Even people born after 1990 will probably know this ad.

Share this:
Read More arrow_forward

Advertisement urging drivers to 'put their foot down' voted worst

10 December 2019 8:00 PM

An advertisement for a Mahindra XUV was voted extremely irresponsible considering local accident levels.

Share this:
Read More arrow_forward

Student accomodation

Connect your digs

10 December 2019 7:35 PM

Young entrepreneur Alexandria Procter created DigsConnect, Africa's largest student accommodation marketplace.

Share this:
Read More arrow_forward

Mining worker, unemployment

Eskom: Uncertainty is the issue as mines grind to a halt

10 December 2019 6:53 PM

Mines halted operations as Eskom asks for 20% power savings. Uncertainty of when blackouts will happen is a main issue.

Share this:
Read More arrow_forward

Student

Need student accommodation? New platform (free for students) has 70 000 listings

10 December 2019 3:02 PM

DigsConnect has everything from high-end apartments to cheap flats close to university campuses, says Alexandria Proctor.

Share this:
Read More arrow_forward

Cape Town CBD night lights

'Cape Town CBD stays lit when Eskom introduces load shedding to the rest of SA'

10 December 2019 2:05 PM

Is it fair? Geoff Jacobs (Cape Chamber of Commerce and Industry) reckons it is and commends the City of Cape Town for doing so.

Share this:
Read More arrow_forward

eskom-blackpng

17 funny Eskom memes to help you deal with the tragic absurdity of load shedding

10 December 2019 2:00 PM

We feel powerless (and we are, literally!) but we can always laugh.

Share this:
Read More arrow_forward

Stressed overworked businessman 123rfbusiness 123rf

South Africa has the longest working hours in the world - University of Oxford

10 December 2019 1:57 PM

In South Africa, those lucky enough to have jobs work themselves to death, according to Our World in Data (University of Oxford).

Share this:
Read More arrow_forward

Refilwe Moloto 2019 B&W

'I feel quite strongly that we are literally feeling our way around in the dark'

10 December 2019 9:05 AM

Refilwe Moloto says the negative outlook for SA in 2019 from investors speaks to a Cabinet not in control of the economy.

Share this:
Read More arrow_forward

More from Politics

jm1212jpg

[WATCH] 'Driving R700k rather than R1.2 million car not a sacrifice Mr Mchunu!'

10 December 2019 11:18 AM

John Maytham gets fired up about so-called changes to the Ministerial Handbook.

Share this:
Read More arrow_forward

Refilwe Moloto 2019 B&W

'I feel quite strongly that we are literally feeling our way around in the dark'

10 December 2019 9:05 AM

Refilwe Moloto says the negative outlook for SA in 2019 from investors speaks to a Cabinet not in control of the economy.

Share this:
Read More arrow_forward

Coal mining mines energy power Eskom 123rfbusiness 123rfpolitics 123rf

'Wet fine coal is like Johnson's Baby Powder. It clings to the conveyers'

10 December 2019 8:51 AM

Independent energy analyst Ted Blom says the level of load shedding is purely dictated by the level of breakdowns within Eskom.

Share this:
Read More arrow_forward

191031refugeesgif

Court refuses to interdict Cape Town refugees

10 December 2019 7:00 AM

JP Smith says the court has ordered all parties to meet by Friday and come to an amicable solution.

Share this:
Read More arrow_forward

191021-medupi-edjpg

Eskom load shedding returns to Stage 4 after Monday's Stage 6 shock

9 December 2019 5:53 PM

Eskom sent out a tweet announcing load shedding would change to Stage 6 at 6:00pm on Monday.

Share this:
Read More arrow_forward

Herman Mashaba

Movement for 'political dialogue' might possibly lead to new party, says Maimane

9 December 2019 1:25 PM

The aim of the People’s Dialogue is to build engagement with SA citizens, but a political party is not out of the question.

Share this:
Read More arrow_forward

180830mabuza00jpg

'Ministerial handbook may use sleight of hand to remove perks, yet keep them'

9 December 2019 1:22 PM

Leon Schreiber, DA Shadow Minister for Public Service and Administration, weighs in on the new version of the guide for ministers.

Share this:
Read More arrow_forward

191209fixgif

Transport Minister Fikile Mbalula places Prasa under administration

9 December 2019 12:45 PM

EWN reporter Mia Lindeque says Minister Mbalula has appointed Bongisizwe Mpondo as the new administrator at Prasa.

Share this:
Read More arrow_forward

190130-ben-turok-edjpg

ANC veteran Professor Ben Turok dies

9 December 2019 12:38 PM

Former anti-apartheid activist and economics professor Ben Turok died on Monday morning. He was 92-years old.

Share this:
Read More arrow_forward

blade-nzimande1jpg

Tug-of-war over Blade Nzimande 'a proxy battle for the soul of SACP'

9 December 2019 8:54 AM

Political analyst Jan-Jan Joubert says Nzimande will fight back does not believe he will leave his ministerial position easily.

Share this:
Read More arrow_forward