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State Companies News

Eskom debt swap not an option – Ramaphosa

By: Reuters     Updated 28 minutes ago A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa's President Cyril Ramaphosa said on Thursday, adding there was a need to look at other options to shore up the company's balance sheet. Eskom, which has had to implement power cuts due to... 

Cabinet to assess municipal electricity debt management plan in Feb

By: Marleny Arnoldi     13th December 2018 The Department of Cooperative Governance and Traditional Affairs (CoGTA) on Thursday said Cabinet would, in February, consider a detailed implementation plan to deal with the more than R14-billion in debt owned by municipalities to power utility Eskom. This plan is part of CoGTA’s municipal... 

Eskom signs R1.5bn loan with French development agency 

By: African News Agency      13th December 2018 Eskom said on Thursday it had signed a loan agreement with the Agence Française de Développement (AFD) for R1.5-billion to extend its transmission grid along the west coast. It is the first tranche of a R6.5-billion loan facility agreed last year. 

Eskom signs R1.5bn loan with French development agency
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

New Necsa board to consider important issues 

13th December 2018 Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Rebecca Campbell about the changes that have been made to the board and management of the South African Nuclear Energy Corporation and what the entity’s new board will need to focus on going forward. 

New Necsa board to consider important issues
New Necsa board to consider important issues

Government launches e-Recruitment system  

By: Tasneem Bulbulia     12th December 2018 The Department of Public Service and Administration (DPSA) has officially launched government’s e-Recruitment system, which enables job seekers to apply for positions in the public service through an online platform. The system was launched by Public Service and Administration Minister Ayanda... 

Government launches e-Recruitment system
Public Service and Administration Minister Ayanda Dlodlo

New Necsa board has important issues to consider

By: Rebecca Campbell     11th December 2018 Major decisions are going to have to be taken about the future of the South African Nuclear Energy Corporation (Necsa), new Necsa board chairperson Dr Rob Adam told Engineering News Online on Tuesday. A totally new board for the corporation was announced by the government on December 6, the new... 

New Necsa board has important issues to consider
Photo by Creamer Media
Necsa chairperson Dr Rob Adam

No load shedding scheduled for Tuesday but risk remains high, says Eskom

By: African News Agency      11th December 2018 Power utility Eskom said on Tuesday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. Eskom had said on Monday... 

No load shedding scheduled for Tuesday but risk remains high, says Eskom

Eskom says no load shedding scheduled for Monday, but risk remains high

By: African News Agency      10th December 2018 Power utility Eskom said on Monday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. The troubled power utility... 

Eskom says no load shedding scheduled for Monday, but risk remains high

Radebe denies allegations of corruption regarding his Necsa actions

By: Rebecca Campbell     7th December 2018 Energy Minister Jeff Radebe has emphatically denied imputations that his dismissal of the previous board of the South African Nuclear Energy Corporation (Necsa) was motivated by a desire for personal enrichment. These allegations were "complete balderdash" he told a media briefing held in... 

Previous Necsa board inept, defiant – Radebe 

By: Rebecca Campbell     7th December 2018 Energy Minister Jeff Radebe has made most serious allegations against the previous and recently dismissed board of the State-owned South African Nuclear Energy Corporation (Necsa). He was briefing the media, in Pretoria, on Friday. He accused the previous board members of failing to properly and... 

Previous Necsa board inept, defiant – Radebe
Photo by Bloomberg
Energy Minister Jeff Radebe

South Africa axes state nuclear firm Necsa's board

By: Reuters     7th December 2018 South African Energy Minister Jeff Radebe said on Friday that the government had replaced the entire board of directors of State-run nuclear firm Necsa and suspended its chief executive over problems with how it was governed. The previous Necsa board included prominent backers of plans to expand... 

South Africa axes state nuclear firm Necsa's board
Energy Minister Jeff Radebe

Eskom implements Stage 1 load shedding

By: African News Agency      7th December 2018 State power utility Eskom said on Friday it would again effect rotational powercuts to reduce demand and avoid a collapse of the grid, but that this would be on a lower scale than in recent days. "Eskom will be implementing Stage 1 rotational load shedding from 09:00 and this is likely to... 

Eskom implements Stage 1 load shedding

Nuclear regulator confirms receipt of 25 000 comments on Thyspunt, Duynefontyn applications 

By: Terence Creamer     6th December 2018 The National Nuclear Regulator (NNR) reports that is has received over 25 000 comments from affected parties and the general public in response to two nuclear installation site licence (NISL) applications received from Eskom on March 2016. The applications are for the Thyspunt site, in the... 

Nuclear regulator confirms receipt of 25 000 comments on Thyspunt, Duynefontyn applications
Koeberg in the Western Cape is South Africa's only nuclear power stations

Eskom confirms another full day of load shedding

By: News24Wire      6th December 2018 It looks increasingly likely that load shedding will continue all week, after Eskom on Thursday said its maintenance crews were still struggling to repair broken power generating units.  Stage 2 load shedding will take place between 09:00 and 22:00 on Thursday. Stage 2 allows for up to 2000... 

 Eskom confirms another full day of load shedding

Agribusiness outlook remains cautious as lack of rainfall issue looms

By: Simone Liedtke     5th December 2018 The agriculture sector’s optimistic outlook at the start of the 2018/19 production season has changed, says Agbiz agribusiness research head Wandile Sihlobo. Despite the season having started with farmers aiming to lift the summer grain and oilseed planting activity by 5% from the previous season... 

Agribusiness outlook remains cautious as lack of rainfall issue looms
Photo by Simone Liedtke
Agbiz agribusiness research head Wandile Sihlobo

Eskom signals components of turnaround plan 

By: Creamer Media Reporter      5th December 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about signals from Eskom as to some components of its turnaround plan and how this is likely to impact on consumers. 

Eskom signals components of turnaround plan
Eskom signals components of turnaround plan

Eskom to implement rolling power cuts

By: African News Agency      5th December 2018 State power utility Eskom said on Wednesday it would implement rotational powercuts from 9 am to 10 pm as a result of a shortage of capacity due to a number of generating units still being out of service due to breakdowns. "Our maintenance teams continue to work hard to bring the units back to... 

Eskom to implement rolling power cuts

Eskom implements Stage 2 load shedding

By: African News Agency      4th December 2018 Eskom on Tuesday said it was implementing load shedding across South Africa as it seeks to manage an electricity shortfall. "As a result of a shortage of capacity due to a number of generating units still out of service due to breakdowns, Eskom will be implementing Stage 2 rotational load... 

Eskom implements Stage 2 load shedding

South Africa faces more power cuts, raising Ramaphosa reform risk

By: Reuters     3rd December 2018 South Africa faces more power cuts, electricity utility Eskom warned on Monday as it sought to prevent the collapse of its power grid in a test for President Cyril Ramaphosa's reforms. Eskom implemented a fifth day of controlled power cuts on Monday, putting more strain on an economy already... 

South Africa faces more power cuts, raising Ramaphosa reform risk

Swifambo loses SCA bid to retain R3.5bn 'tall trains' PRASA tender

By: News24Wire      30th November 2018 Controversial locomotive supplier Swifambo Rail Leasing has lost a Supreme Court of Appeal challenge to a High Court order that stripped it of a R3.5-billion tender with the Passenger Rail Agency of South Africa (PRASA). Last year, Judge J Francis in the South Gauteng High Court in Johannesburg... 

100 MW CSP project, developed by black-owned IPP, enters commercial operation  

By: Terence Creamer     30th November 2018 A new 100 MW concentrated solar power (CSP) plant, developed by black-owned independent power producer (IPP) Emvelo, officially entered into commercial operation this week, providing Eskom with a new dispatchable generation option at a time of severe supply-side constraints. Located in Upington,... 

100 MW CSP project, developed by black-owned IPP, enters commercial operation
The Ilanga CSP1 plant

'Gigaba lied to Parliament over SAA financials', commission hears

By: African News Agency      30th November 2018 While director-general at the department of public enterprises, former Eskom CEO Tshediso Matona, tried to persuade South African Airways to support the now defunct The New Age (TNA) newspaper after the national carrier's bid adjudication committee turned it down, former SAA board chairperson... 

Interim results confirm the bad state of Eskom’s financial health 

29th November 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s interim financial results and the utility’s plans to turn its financial position around. 

Interim results confirm the bad state of Eskom’s financial health
Interim results confirm the bad state of Eskom’s financial health

Another Eskom equity injection mooted amid R15bn loss warning   

By: Terence Creamer     28th November 2018 South Africa’s debt-laden electricity utility Eskom is in discussions with government about yet another equity injection, as well as various possible “debt-relief” options, as part of a turnaround plan, which chairperson Jabu Mabuza insists needs to be implemented immediately if the company is to... 

Another Eskom equity injection mooted amid R15bn loss warning
Eskom chairperson Jabu Mabuza on the utility's dire financial position and the board's proposed turnaround plan. Camera Work & Editing: Nicholas Boyd. 28.11.18

Parly committee adopts Eskom inquiry report, recommends top executives testify before Zondo

By: News24Wire      28th November 2018 Parliament’s portfolio committee on public enterprises has adopted its final report into allegations of State capture at Eskom and Transnet, which recommends that some of power utility's former board chairs and top executives be requested to appear before the ongoing judicial commission of... 

Parly committee adopts Eskom inquiry report, recommends top executives testify before Zondo

Ramatlhodi to testify at Zondo commission of inquiry

By: News24Wire      28th November 2018 Former Mineral Resources Minister Ngoako Ramatlhodi will be the fourth minister who served under former president Jacob Zuma to appear before the Zondo commission of inquiry into state capture on Wednesday. News24 understands Ramatlhodi and his former adviser and spokesperson advocate Mahlodi... 

SAA needs R7.5bn in working capital from next month  

By: Reuters     27th November 2018 Cash-strapped State-owned airline South African Airways (SAA) will need R7.5-billion from next month to fund day-to-day operations into 2019, a presentation by the airline showed on Tuesday. SAA, which has not generated a profit since 2011, survives on State guarantees and is regularly cited by... 

SAA needs R7.5bn in working capital from next month

Transnet halts Durban port berths project over tender probe  

By: Reuters     23rd November 2018 Transnet said on Friday it would stop a R7-billion ($505-million) project to deepen berths at Africa's biggest container terminal in the port city of Durban until a dispute over the awarding of a contract is resolved. Transnet, which operates nearly three-quarters of the African rail network,... 

Siyabonga Gama loses court bid to interdict dismissal as Transnet CEO 

By: African News Agency      22nd November 2018 Former Transnet chief executive Siyabonga Gama on Thursday lost his Labour Court application to have his dismissal by the board of the state-owned freight and rail company set aside, and was ordered to pay the costs for Transnet, including two of its lawyers.   Labour Court judge Connie Prinsloo... 

Siyabonga Gama loses court bid to interdict dismissal as Transnet CEO
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Audit outcomes of State-owned entities continue to regress

By: Kim Cloete     22nd November 2018 The audit outcomes of State-owned entities (SOEs) have regressed over the past financial year compared with both the previous year and 2014/15. The 2017/18 general report for the Auditor-General South Africa (AGSA) said there was an increase in noncompliance of the 16 SOEs it audited. It also... 

Eskom warns its debt could reach R550bn 

By: African News Agency      21st November 2018 Eskom's financial situation will remain dire for the next few years with a risk its debt burden would grow from R400-billion to some R550-billion in the foreseable future, the power utility's CEO Phakamani Hadebe conceded on Wednesday. "The institution is really under severe financial strain,"... 

 Eskom warns its debt could reach R550bn
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

New stage 8 load shedding 'nothing to panic about', says Eskom 

By: News24Wire      20th November 2018 Power utility Eskom recently announced that it would be expanding its load shedding plan to eight stages, allowing for up to 8 000 MW to be shed from the national grid. It previously had four stages that allowed for up 4 000 MW to be cut.   The new schedule is "nothing to panic about", Eskom... 

 New stage 8 load shedding 'nothing to panic about', says Eskom

I am not accountable to bullies – Gordhan  

By: African News Agency      20th November 2018 Public Enterprises Minister Pravin Gordhan on Tuesday took a swipe at his detractors, telling the State capture commission of inquiry that he does not submit to bullies. The minister is testifying for a second day at the commission of inquiry into State capture, led by deputy chief justice... 

I am not accountable to bullies – Gordhan
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

State capture was evident as early as 2014 – Gordhan 

By: African News Agency      19th November 2018 The State capture phenomenon had been around as early as 2014 in South Africa during former president Jacob Zuma's administration, Public Enterprises Minister Pravin Gordhan told the State capture commission of inquiry on Monday. He said individual corrupt activities, through procuring goods and... 

State capture was evident as early as 2014 – Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

Eskom says it is not load shedding

By: African News Agency      19th November 2018 Eskom on Monday said it was not implementing load shedding but the power grid was stretched with a low possibility of load shedding for the rest of week. "We will keep our customers informed if there are any changes to the system. Eskom would like to thank its customers for assisting in keeping... 

Eskom says it is not load shedding

Gordhan alerts commission to 'mental lapse'

By: African News Agency      19th November 2018 Public Enterprises Minister Pravin Gordhan said he had to consult with officials at National Treasury and ''refresh his mind'' on events and meetings he took part in back when he was finance minister. Testifying in the commission of inquiry into State capture, chaired by Deputy Chief Justice... 

 Gordhan alerts commission to 'mental lapse'
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

Eskom is said to base executive revamp on consultant work

By: Bloomberg     19th November 2018 Eskom is proposing executive job cuts and a reorganisation of management units in an effort to improve the South African utility’s financial position, according to a document seen by Bloomberg. Eskom, which produces about 90% of the nation’s electricity, hired Boston Consulting Group earlier... 

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