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State Companies News

Salga voices concern about impact of possible higher electricity tariffs on municipalities

By: Marleny Arnoldi     Updated 46 minutes ago During public hearings being held to enable the National Energy Regulator of South Africa (Nersa) to determine whether to allow power utility Eskom to recoup R66.6-billion under the Regulatory Clearing Account (RCA) mechanism, the South African Local Government Association (Salga) has expressed... 

Rand recovery double-edged sword, land must be shared – Ramaphosa

By: Reuters     18th April 2018 President Cyril Ramaphosa said on Wednesday the rebound in the country's currency, the rand, had both positive and negative effects but wasn't quite complete. "It is a double-edged sword," Ramaphosa said in a interview with Bloomberg television. "It reflects the level of confidence that the world... 

Rand recovery double-edged sword, land must be shared – Ramaphosa
President Cyril Ramaphosa

Solidarity gives Brian Molefe Friday deadline to pay back the money

By: African News Agency      18th April 2018 Trade union Solidarity has given former Eskom chief executive Brian Molefe until Friday 11am to pay back the money he unlawfully received from the power utility as part of the R30-million pension payout granted to him. On Tuesday, Molefe lost his court bid to appeal a January high court judgement... 

 Solidarity gives Brian Molefe Friday deadline to pay back the money
Former Eskom CEO Brian Molefe

Nersa public hearings into Eskom’s RCA applications get under way 

     18th April 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the first round of public hearings held by the National Energy Regulator of South Africa to determine whether or not to grant Eskom’s applications to recover R66.6-billion in cost and sales variances. 

Nersa public hearings into Eskom’s RCA applications get under way
Nersa public hearings into Eskom’s RCA applications get under way

SAA awarded 4-Star Skytrax ranking for 16th consecutive year

By: Marleny Arnoldi     17th April 2018 South African Airways (SAA) has maintained a 4-Star Skytrax ranking, in both business and economy class, for a sixteenth consecutive year.  

SAA awarded 4-Star Skytrax ranking for 16th consecutive year
South African Airways' A330-300 airbus

Everything a priority at PRASA except safe rail transport – Nzimande

By: African News Agency      17th April 2018 Transport Minister Blade Nzimande on Tuesday conceded to MPs that safe rail transport for the working class was low on the list of priorities for the Passenger Rail Agency of South Africa (PRASA), but vowed this would change. Briefing MPs on his department's annual performance plan, Nzimande said... 

Molefe loses court bid to appeal pay back pension ruling

By: News24Wire      17th April 2018 The North Gauteng High Court on Tuesday dismissed an application by former Eskom CEO Brian Molefe for leave to appeal a ruling that he pay back the part of his pension payout he already received. Judge Elias Matojane said based on the submission presented to the court "we are of the view that... 

Outa calls for Eskom turnaround before tariff hikes are granted

By: Kim Cloete     17th April 2018 Eskom should first implement a turnaround strategy before the National Energy Regulator of South Africa (Nersa) considers granting it a tariff hike, says the Organisation for Undoing Tax Abuse (Outa). “Eskom leadership must institute stringent measures to recoup the billions of rands siphoned out... 

Cosatu strongly rejects Eskom’s appeal for more money

By: Kim Cloete     16th April 2018 The Congress of South African Trade Unions (Cosatu) has rejected Eskom’s appeal to the National Energy Regulator of South Africa (Nersa) to recover its costs in the provision of electricity, calling it “unaffordable, unreasonable and unjustifiable”. “We have no faith in Eskom. We completely... 

Detailed design phase for R200m Durban cruise terminal to start this month

By: Shirley le Guern     16th April 2018 Transnet National Ports Authority and the KwaZulu Cruise Terminal (KCT) consortium on Monday officially signed an agreement that will see the construction of a R200-million-plus cruise terminal at the entrance to the Port of Durban.   The consortium, which is 70% owned by MSC Cruises, the largest... 

Detailed design phase for R200m Durban cruise terminal to start this month

State-owned model leaves commercial airlines struggling to compete

By: Marleny Arnoldi     12th April 2018 South Africa has missed out on opportunities in key air travel markets, owing to its reliance on a dominant national carrier and State-owned airports, an executive of privately-owned Lanseria International Airport, north of Johannesburg, said on Thursday. Lanseria operations deputy executive... 

Eskom outlines case for R67bn clawback amid tariff-hike hostility

By: Terence Creamer     12th April 2018 State-owned electricity group Eskom has expressed confidence that its three applications to recoup nearly R67-billion through the Regulatory Clearing Account (RCA) mechanism will succeed, stressing that its submissions are fully aligned to the most recent RCA decision made in 2016 for the 2013/14... 

Eskom outlines case for R67bn clawback amid tariff-hike hostility

Trade union Solidarity believes business rescue essential to save SAA; other unions strongly disagree

By: Rebecca Campbell     12th April 2018 Trade union Solidarity believes that business rescue is the only way that jobs can be saved at embattled State-owned national flag-carrier South African Airways (SAA) and the company put back on a sustainable footing. This was made clear at the media briefing at the union's head office on... 

Trade union Solidarity believes business rescue essential to save SAA; other unions strongly disagree

Eskom considers sale of mortgage business

By: Reuters     12th April 2018 South Africa's state power utility Eskom is sounding out possible buyers for its mortgage business, a tender document showed on Wednesday, in what would be the first major privatisation deal under President Cyril Ramaphosa. Ramaphosa has made revamping state-owned firms like Eskom a top priority... 

Rand Water threatens to cut water to Emfuleni municipality over R419m debt

By: News24Wire      11th April 2018 Rand Water has announced that it will once again reduce the bulk water supply to the Emfuleni Local Municipality after it failed to reach a settlement on the payment of the municipality's R419-million debt. Rand Water's Justice Mohale said in a statement on Wednesday that the entity was taking... 

Home Affairs vows to tackle long queues

By: Thabi Madiba     10th April 2018 Home Affairs Minister Malusi Gigaba on Tuesday directed his department to prepare a comprehensive report and strategy that will deal with managing long queues at Home Affairs branches across the country. Gigaba said this was high priority as the department remained committed to delivering high... 

Home Affairs vows to tackle long queues
Photo by Reuters
Home Affairs minister Malusi Gigaba

‘High priority’ IRP update to be published soon

By: Terence Creamer     10th April 2018 Department of Energy (DoE) director-general Thabane Zulu says the updated Integrated Resource Plan (IRP) is undergoing a final set of processes and consultations, as stipulated by Cabinet in December, before being published in the Government Gazette. Speaking at the Africa Power Roundtable in... 

‘High priority’ IRP update to be published soon
Photo by Dylan Slater
Department of Energy director-general Thabane Zulu

Gordhan appoints new Denel interim board

By: Rebecca Campbell     9th April 2018 Public Enterprises Minister Pravin Gordhan on Monday announced a completely new, high-powered, board to turn around beleaguered State-owned defence industrial group Denel. Technically, it is currently an interim board, he explained, because it had not yet been approved by the Cabinet. He... 

Gordhan appoints new Denel interim board
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Trade union to seek to put SAA into business rescue

By: Rebecca Campbell     9th April 2018 Trade union Solidarity announced on Sunday that it was to start court proceedings to place State-owned and financially very troubled national carrier South African Airways (SAA) under business rescue. In an open letter to President Cyril Ramaphosa, Finance Minister Nhlanhla Nene and Public... 

Trade union to seek to put SAA into business rescue

Ramaphosa refers Eskom allegations to Special Investigating Unit

By: News24Wire      6th April 2018 President Cyril Ramaphosa referred allegations of mismanagement and graft at state power utility Eskom and rail and ports group Transnet to the Special Investigating Unit (SIU). The SIU, which probes corruption and maladministration in the government, must include “any alleged serious... 

 Ramaphosa refers Eskom allegations to Special Investigating Unit
President Cyril Ramaphosa

WWF welcomes energy minister signing renewable energy contracts

By: African News Agency      5th April 2018 The World Wide Fund for Nature (WWF) on Thursday applauded South African Energy Minister Jeff Radebe's signing off of a R56-billion contract with Independent Power Producers (IPPs). Radebe on Wednesday signed the hotly-contested renewable energy agreements with 27 independent power producers on... 

WWF welcomes energy minister signing renewable energy contracts
Energy Minister Jeff Radebe

Radebe says signing of 27 IPP agreements a ‘new dawn’ for renewables in South Africa

By: Terence Creamer     4th April 2018 Agreements opening the way for the construction of 27 renewable-energy independent power producer (IPP) projects, with a combined investment value of R56-billion and a combined capacity of 2 300 MW, were finally signed on Wednesday April 4, after a confidence-sapping delay of over two years. At... 

Radebe says signing of 27 IPP agreements a ‘new dawn’ for renewables in South Africa
Photo by Dylan Slater
Energy Minister Jeff Radebe

SoE governance, operating models under the spotlight 

     4th April 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the shift in conversation away from only focusing on governance problems at State-owned enterprises (SoEs) to also include discussions on the operating models of these entities and particularly for Eskom and... 

SoE governance, operating models under the spotlight
SoE governance, operating models under the spotlight

Ramaphosa dealing with Moyane suspension – Nene

By: News24Wire      3rd April 2018 Finance Minister Nhlanhla Nene said on Tuesday President Cyril Ramaphosa is dealing with the suspension of former South African Revenue Service (Sars) commissioner Tom Moyane, who left the agency last month under a cloud. “The issue of Moyane is being dealt with by the president... I hope it... 

 Ramaphosa dealing with Moyane suspension – Nene
President Cyril Ramaphosa

Space essential for meeting South Africa’s economic and social development goals

By: Rebecca Campbell     30th March 2018 In August last year, the US-based Space Foundation reported that the worldwide space economy had been worth $329-billion in 2016, up from $323-billion in 2015. The Foundation noted that the rise had been due to the increase in commercial space activities (there had been tiny declines in... 

Space essential for meeting South Africa’s economic and social development goals

Earth observation satellite programme still not fully funded

By: Rebecca Campbell     30th March 2018 South Africa's current Earth observation satellite programme, presently known as EO-Sat1, is still not fully funded, South African National Space Agency (Sansa) Executive Director: Space Programme Amal Khatri told "Engineering News". He was speaking on the sidelines of the recent Sansa Space for... 

Oversight structure set up to monitor implementation of SAA’s latest turnaround plan

By: Terence Creamer     29th March 2018 A formal oversight structure, involving the National Treasury, as well as executive and nonexecutive directors from South African Airways (SAA), has been established to monitor the implementation of a “revalidated” turnaround strategy at the lossmaking and heavily indebted national carrier.... 

Oversight structure set up to monitor implementation of SAA’s latest turnaround plan
Finance Minister Nhlanhla Nene and SAA CEO Vuyani Jarana

Nersa to make earlier decision on Eskom RCA applications

By: Marleny Arnoldi     29th March 2018 The National Energy Regulator of South Africa (Nersa) has moved forward public hearings into Eskom’s regulating clearing account (RCA) applications for 2014/15 to 2016/17.  

Moody's downgrades Eskom's ratings to a negative outlook 

By: African News Agency      29th March 2018 Moody's Investors Service on Wednesday, announced a decision to downgrade to B2 from B1 the long-term corporate family rating (CFR) of Eskom Holdings SOC Limited (Eskom) and the zero coupon eurobonds to B2 from B1 in line with the CFR.  "The rating action reflects the fact that, despite a number... 

Moody's downgrades Eskom's ratings to a negative outlook

Construction set to begin on ‘flagship’ 40 MW Moz solar project

By: Terence Creamer     28th March 2018 Oslo-listed renewable-energy developer Scatec Solar, which has its African regional hub in Cape Town, South Africa, expects to begin constructing a 40 MW solar photovoltaic (PV) project in Mozambique in the coming weeks after the project reached financial close in early March. GM and VP for... 

Construction set to begin on ‘flagship’ 40 MW Moz solar project
Scatec Solar's Kalkbult solar farm in South Africa

Lowering SoE risk to fiscus requires governance and business-model reform - S&P

By: Terence Creamer     27th March 2018 The risk posed to government’s fiscal position as a result of contingent liabilities linked to South Africa’s State-owned enterprises (SoEs) will be only partly alleviated by governance reforms, S&P Global Ratings warns, arguing that greater attention will also have to be given to reforming SoE... 

Lowering SoE risk to fiscus requires governance and business-model reform - S&P

Eskom goes to Parliament to argue its case for a higher tariff increase 

By: Kim Cloete     27th March 2018 Eskom’s top officials have gone to Parliament to argue their case for a higher tariff increase, saying the 5.23% tariff increase for 2018/19 granted by the National Energy Regulator of South Africa (Nersa) would seriously harm the utility. “The 2.2% price increase for 2017/18 has strained the... 

Eskom goes to Parliament to argue its case for a higher tariff increase
Photo by Dylan Slater
Eskom acting CEO Phakamani Hadebe

Burger resigns as CEO of Denel Land Systems

By: Creamer Media Reporter      27th March 2018 Stephan Burger has resigned as CEO of Denel Land Systems (DLS). Burger, who is one of the longest-serving members of the Denel group, was appointed CEO of DLS in 2004. 

SAA losses mount for 2017 

By: African News Agency      27th March 2018 National carrier South African Airways made a further financial loss of R3.7-billion over the nine months to the end of 2017, as revenue dipped about R1-billion below its forecasts for that period. The figures were tabled in a briefing by SAA CEO Vuyani Jarana, chairman JB Magwaza and executives... 

Saftu condemns CSR’s local content exemption request

By: Simone Liedtke     26th March 2018 The South African Federation of Trade Unions (Saftu) says it is angered by the revelation that China South Rail (CSR) wants South Africa’s government to grant it an exemption from its local content obligations, worth R5.3-billion, as part of the conditions for it supplying new locomotives to... 

Ramaphosa amends rules of State capture inquiry

By: African News Agency      23rd March 2018 President Cyril Ramaphosa's office said on Friday he has amended the rules of the commission of inquiry into state capture to make testimony before it admissible in criminal proceedings, with the exception of where a witness may incriminate him or herself. The amendment to regulation 8(2) of the... 

Gupta-linked Chinese firm wanted R5bn local content exemption 

By: News24Wire      23rd March 2018 China South Rail (CSR), the company that allegedly paid R5-billion in bribes to the Guptas, has asked the South African government for exemptions on its local content commitments worth R5-billion. News24 is reporting that CRRC, which was formed when CSR and fellow Chinese rail giant China North... 

 Gupta-linked Chinese firm wanted R5bn local content exemption
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