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Macro & Micro

Sasol CEO Fleetwood Grobler
Sasol prioritising coal de-stoning investment as it seeks to allay fears over big Secunda output dip
26th February 2024 By: Terence Creamer

Energy and chemicals group Sasol has moved to address investor concerns that its yearly production at Secunda will need to fall to only 6.7-million tons for it to meet its goal of reducing the... 


Deloitte's head office, in Midrand
Onus largely on private sector to recover economy, says Deloitte
26th February 2024 By: Marleny Arnoldi

With the 2024/25 national Budget not having provided much relief to taxpayers, and the economy having a high debt to gross domestic product (GDP) ratio and slow growth rates, South Africans need to... 


Econometrix director and chief economist Dr Azar Jammine
Budget shows an economy treading water, not collapsing – Jammine
23rd February 2024 By: Darren Parker

Although Finance Minister Enoch Godongwana’s Budget, delivered on February 21, seemed somewhat prudent, Econometrix director and chief economist Dr Azar Jammine said there was not much in it to... 


Solar panels
Another 124 power plants registered with Nersa raising total to 1 087 since 2018
23rd February 2024 By: Terence Creamer

The National Energy Regulator of South Africa (Nersa) reports that a further 124 generation facilities were registered during the third quarter of its financial year from October to December,... 


Treasury backs Central Bank inflation target review
23rd February 2024 By: Bloomberg

National Treasury said there’s a case to be made for the central bank’s inflation target to be reviewed to improve competitiveness and given the adverse impact price growth has on the poor. The... 


Transition to the green economy offers great opportunities for women, but problems remain
22nd February 2024 By: Rebecca Campbell

The move to a green economy is a move to a more feminine economy, affirmed KD Strategies founding director Katnisha Singh on Thursday. She was participating in a panel discussion at the Women in... 


Busa CEO Cas Coovadia
Budget seen as realistic, generally positive in economic context
22nd February 2024 By: Schalk Burger

Business organisations Business Leadership South Africa (BLSA) and Business Unity South Africa (Busa) said the 2024 Budget presented by Finance Minister Enoch Godongwana on February 21, was... 


A conference room
Global corporate tax minimum to be implemented this year
21st February 2024 By: Darren Parker

In an effort boost tax revenue going forward, government will be implementing the long-awaited global corporate tax minimum in the coming year, Finance Minister Enoch Godongwana revealed upon the... 


Petrol pumps
No change to fuel levies this year, Godongwana says
21st February 2024 By: Darren Parker

Government has decided once again to leave the general fuel levy and Road Accident Levy Fund unchanged, resulting in tax relief of about R4-billion. This was announced at the release of Finance... 


70 out of 72 municipalities approved for Eskom debt relief
21st February 2024 By: Darren Parker

Out of 72 municipality applications for State-owned Eskom debt relief, 70 have been approved, Finance Minister Enoch Godongwana revealed in his 2024 Budget on February 21. The 72 applicants... 


Finance Minister Enoch Godongwana
Godongwana draws down R150bn from gold and forex account to reduce borrowings and debt-service costs
21st February 2024 By: Terence Creamer

Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government’s treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in... 


Western Cape Premier Alan Winde
Western Cape already being hit by climate change, seeking to make itself resilient
21st February 2024 By: Rebecca Campbell

The Western Cape is already feeling the effects of climate change, provincial Premier Alan Winde highlighted on Wednesday. He was addressing the Africa Green Economy Summit 2024, in Cape Town. The... 


Consumers
South African inflation picks up in January
21st February 2024 By: Reuters

South Africa's headline consumer inflation quickened to 5.3% year on year in January from 5.1% in December, data showed on Wednesday. Key contributors to the annual inflation rate included food,... 


Photo of Terence Creamer
2024 Budget highlights
21st February 2024

Engineering News editor Terence Creamer discusses the key topics raised by Finance Minister Enoch Godongwana in his 2024 Budget speech. 


President Cyril Ramaphosa
Ramaphosa sets May 29 election date
20th February 2024 By: Reuters

South Africa will hold national and provincial elections on May 29, President Cyril Ramaphosa's office said on Tuesday. "I call on all South Africans to exercise their democratic right to vote and... 


metal works with sparks
Metals, engineering output up 1.7% but still far below 2008/9 peak
20th February 2024 By: Darren Parker

While aggregate production in the South African metals and engineering sector increased by 1.7% last year, which is slightly higher than the 1.5% increase in 2022, it remains 18% below where it was... 


SA Canegrowers maintains sugar tax increase will destroy jobs
20th February 2024 By: Marleny Arnoldi

Ahead of Finance Minister Enoch Godongwana’s Budget Speech on February 21, industry body the South African Cane Growers’ Association (SA Canegrowers) has called on National Treasury to prioritise... 


Unemployed persons sitting on a kerb
Unemployment rate to remain high this year, Nedbank warns
20th February 2024 By: Schalk Burger

Financial services firm Nedbank expects employment growth to soften this year, before picking up more convincingly next year. “The unemployment rate will, therefore, remain high,” the bank said on... 


Aerial view of a GFIP highway and e-toll gantries
Lesufi confident e-tolls to end by March
20th February 2024 By: Schalk Burger

Gauteng Premier Panyaza Lesufi, in his State of the Province Address (SoPA) on February 19, said the provincial government had met with the Finance and Transport Ministers on January 26, and that... 


Special Investigating Unit
SIU gets green light from Ramaphosa to investigate Home Affairs, PRASA
20th February 2024 By: Sashnee Moodley

The Special Investigating Unit is set to probe maladministration at Home Affairs and the Passenger Rail Agency of South Africa following proclamations signed by President Cyril Ramaphosa. The... 


Roads
Dispute over 5km road could highlight far bigger roadbuilding problem for Gauteng
20th February 2024 By: Terence Creamer

A legal dispute over the granting of an environmental authorisation for a 5-km new road, the K148, in southern Gauteng has the potential to highlight serious legal impediments to the development of... 


Finance Minister Enoch Godongwana
Reserves drawdown is wildcard in South Africa’s election budget
19th February 2024 By: Bloomberg

Enoch Godongwana needs to conjure an annual budget that balances spending pressures stemming from this year’s elections with the South African National Treasury’s commitment to stabilise its... 


Silhouette of a construction site
Budget must address revenue challenges, infrastructure investments – Mavuso
19th February 2024 By: Schalk Burger

While there has been a clear effort by the National Treasury to rein in spending and turn the trajectory of government's financial performance around, the revenue side of the equation has not been... 


President Cyril Ramaphosa
New fund to mobilise public and private funding to climate-proof existing essential infrastructure
19th February 2024 By: Terence Creamer

President Cyril Ramaphosa has provided some additional background to the Climate Change Response Fund, the formation of which he announced in his recent State of the Nation Address. Writing in his... 


Forestry, Fisheries and the Environment Minister Barbara Creecy
Climate Change Response Fund to channel resources to adaptation, early-warning systems – Creecy
16th February 2024 By: Terence Creamer

Forestry, Fisheries and the Environment Minister Barbara Creecy reports that the Climate Change Response Fund announced by President Cyril Ramaphosa in his State of the Nation Address (SoNA) has... 


African flags
Africa's economic growth fell to 3.2% in 2023, says AfDB
16th February 2024 By: Reuters

Africa's economic growth fell to 3.2% last year from 4.1% in 2022, the African Development Bank said on Friday, but it projected higher growth this year for all regions except central Africa. The... 


Majority of investors want short-term wins over long-term ESG gains, poll shows
15th February 2024 By: Darren Parker

According to a poll taken at the South African Real Estate Investment Trust 2024 conference, more than 57% of delegates in attendance believe investors are unwilling to sacrifice short-term wins... 


Locomotives owned by Transnet Freight Rail
EIB in talks with South Africa over loan for ports, freight rail
15th February 2024 By: Bloomberg

The European Investment Bank (EIB) said it’s in talks to loan South Africa money to upgrade its port and freight-rail infrastructure as its first contribution to a decarbonization pact known as the... 


President Cyril Ramaphosa
Ramaphosa does not want unspent infrastructure funds returning to fiscus
15th February 2024 By: Thabi Shomolekae

President Cyril Ramaphosa noted on Thursday that though capacity support to provinces and municipalities, government is improving its ability to spend the grants allocated to infrastructure... 


Reside Summit chairperson Debbie Tagg
Residential development summit to foster govt, private sector collaboration
15th February 2024 By: Schalk Burger

The Residential Investment and Development (Reside) Summit, which will be held in Johannesburg from July 16 to 19, has a key objective to foster collaboration between governmental stakeholders and... 


Budget expected to show conditions remain unsupportive of fiscal consolidation – Nedbank
15th February 2024 By: Schalk Burger

Finance Minister Enoch Godongwana's 2024 Budget Speech, to be delivered next week, is expected to show that economic conditions will remain broadly unsupportive of significant fiscal consolidation,... 


Powerlines
Former IPP Office head now sees definite role for private sector in grid development
15th February 2024 By: Terence Creamer

The former head of South Africa’s Independent Power Producer (IPP) Office, Karen Breytenbach, believes there is a compelling case for the injection of private sector investment to accelerate the... 


A toll gantry on the N12
Up to 12% of Gauteng motorists still paying their e-toll bills, says Outa
15th February 2024 By: Darren Parker

Between 10% and 12% of road users in Gauteng are still paying for e-tolls, despite the October 2022 announcement by Finance Minister Enoch Godongwana that e-tolls would be scrapped, Organisation... 


E-commerce platform Zandaux launches in South Africa
15th February 2024 By: Thabi Shomolekae

With a steadfast commitment to foster seamless business-to-business transactions, promote collaboration, and drive innovation, newly launched e-commerce platform Zandaux hopes to be a... 


Rand Currency
S Africa's budget to consolidate more slowly, rate cuts delayed – poll
15th February 2024 By: Reuters

South Africa's budget deficit will narrow at a slower pace in coming years than October estimates predicted, put off course by poor mining tax receipts, according to a Reuters poll which also... 


Wind, solar, batteries
Innovative 128 MW solar-wind-battery project achieves financial close
14th February 2024 By: Terence Creamer

The 128 MW Oya Energy hybrid project, which will combine variable renewables and batteries to produce dispatchable electricity daily between 5:00 and 21:30 for injection into South Africa’s... 


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Goodwin Submersible Pumps Africa (Pty) Ltd
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Booyco Electronics
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