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Thursday, March 25, 2010.
From Creamer Media in Johannesburg, I'm Shannon de Ryhove.
Making headlines today:
Vehicle manufacturer Nissan South Africa purchasing GM Stefan Haasbroek says that the 25% electricity tariff hike that is due to come into effect on April 1 would place strain on Nissan SA and its parts suppliers.
Haasbroek says that the company's 80 component suppliers are already facing difficulty in becoming and remaining globally competitive as local cost pressures continue to mount. Besides energy bills, these include supply chain costs, as South Africa is located far from its major import and export markets, as well as rising raw material costs.
However, suppliers and the vehicle manufacturer are doing their best to curb energy costs by implementing some innovative solutions, such as simply using less electricity and changing shift patterns so as to reduce electricity use during peak tariff hours.
Mozambique's national power utility Electricidade de Mozambique will invest 289-million-dollars in electrification programmes by 2013.
The company's CEO, Manuel Cuambe, wouldn't be drawn on where the funding had come from.
The utility planned to use the money for electrification programmes covering 115 districts.
Mozambique has one of the lowest electricity connections rates from its national grid in the southern African region, with connection rates of 14,3% covering people living in 89 of the country's 128 districts.
Also making headlines:
Bharti Airtel moves closer to fulfilling its Africa ambitions after Kuwaiti telecom Zain's board approved the sale of most of its African assets to the Indian firm for $9-billion.
The US announces its interest in small reactors and keeps the remnant of South Africa's PBMR project afloat.
The value of South African merger and acquisition deals declined by 42% in 2009.
And, technology and service provider group Sizwe Africa IT wins an 86-million-rand IT contract.
That's a round up of news making headlines today.