Dec 03, 2009
Daily podcast – December 3, 2009Back
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Thursday, December 3, 2009.
From Creamer Media in Johannesburg, I'm Shannon de Ryhove.
Making headlines today:
The World Bank is to expedite a 3,75-billion-dollar loan for South African power utility Eskom and to present it for approval in March 2010.
The loan, which will be guaranteed by the government, is intended to help the state-owned utility with a critical 51,4-billion-dollars power supply expansion to enable it to meet fast-rising demand.
If approved, it will be the largest World Bank loan for a project in post-apartheid South Africa.
The 3,75-billion-dollar project will be financed through the the International Bank for Reconstruction and Development, the World Bank's financing arm for credit-worthy poorer countries and emerging market economies.
The bulk of the loan will go to developing the Medupi coal-fired power station, a 4 800 MW plant.
The project will provide an opportunity for independent power producers to participate. The project will also complement other national power generation programmes.
State-owned power utility Eskom said this week that there would be a significant shift in its business strategy, including introducing IPPs in power generation to meet some of South Africa's short to medium-term supply shortfalls.
CDC business development executive manager Khwezi Tiya says that the project will "transform the landscape" of the IDZ.
The board of US auto manufacturer General Motors has asked its CEO to resign.
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Other Intellectual Property Law News
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A controversial patent process known as ‘ever-greening’ is being carried out by many pharmaceutical brands, and is preventing medications from being made available as generics, affecting many South Africans who are struggling to keep up with the cost of medication....
It has been over six years since the government began developing the draft policy on intellectual property (IP) that has been the focus of major public controversy following the PharmaGate scandal, which involved a leaked pharmaceutical industry email by Knowledge...
Updated 2 hours 43 minutes ago South African Nuclear Energy Corporation (Necsa) group corporate services executive Ambassador Xolisa Mabhongo stressed on Thursday that South Africa currently had only one Integrated Resource Plan (IRP) for electricity, the IRP 2010, and that the IRP Update...
Updated 4 hours ago South Africans needed to become more entrepreneurial and create their own jobs, instead of expecting government to create jobs or rely on private-sector employment. “We need to become masters of our own destinies,” Small Business Development Deputy Minister Elizabeth...
Updated 4 hours ago Plans to increase gross domestic expenditure on research and development (GERD) to 1.5% of gross domestic product by 2019 are yet to be formally adopted, despite the target being incorporated in the draft strategic plan of the Department of Science and Technology...
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Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
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Real Economy Insight: Electricity 2014 (PDF Report)
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This Week's Magazine
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