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Radebe says IRP to be finalised in March and promises to address IPP issues soon 

By: Terence Creamer     19th February 2019 Energy Minister Jeff Radebe listed the finalisation of the Integrated Resource Plan (IRP) for electricity as South Africa’s main energy priority and indicated on Tuesday the policy should be approved in March. Speaking on the sidelines of the 2019 edition of Africa Energy Indaba he said he would... 

Ramaphosa’s big growth plan threatened by power cuts

By: News24Wire      19th February 2019 A major 18-sector growth initiative is imperilled by power cuts now ripping up the economy, warns one of the architects of President Cyril Ramaphosa's signature growth strategy. At the State of the Nation Address (SoNA), Ramaphosa said the Public Private Growth Initiative, stewarded by Minister... 

Gordhan’s IPP renegotiation proposal triggers ‘breach of contract’ warnings 

By: Terence Creamer     15th February 2019 A report indicating that the South African government may seek to renegotiate power purchase agreements (PPAs) concluded with independent power producers (IPPs) in 2011 and 2012 is raising alarm bells within the industry, which is still recovering from a protracted period of uncertainty created... 

Ramaphosa sets up cabinet committee to manage Eskom daily

By: African News Agency      14th February 2019 President Cyril Ramaphosa said a special cabinet task team has been established to deal with the Eskom crisis and provide him with reports daily on the State of the power grid and "what actions need to be taken to ensure energy supply". Responding to the debate on the State of the nation address,... 

Ramaphosa promises to correct lack of consultation with labour on Eskom unbundling 

By: Terence Creamer     14th February 2019 President Cyril Ramaphosa acknowledged on Thursday that there had been insufficient consultation with labour on government’s plan to unbundle Eskom into three separate companies, but he also stressed that the proposed restructuring would not result in privatisation. In his response to the debate... 

NUM seethes over lack of consultation on Eskom unbundling 

By: Terence Creamer     14th February 2019 The National Union of Mineworkers (NUM) has expressed deep unhappiness with the decision of President Cyril Ramaphosa to announce the unbundling of Eskom in the absence of any prior consultation with the union, which is a formal ally of the governing African National Congress (ANC). The union,... 

Shifting R100bn in Eskom debt to government will have ‘dire’ economic consequences 

By: Terence Creamer     13th February 2019 Amid confirmation that Eskom is technically insolvent and will require a capital injection by April to remain a going concern, a leading economist is cautioning against the proposed transfer of R100-billion of the utility’s debt to government’s balance sheet. Instead, Standard Bank chief... 

Gordhan: Those responsible for Eskom's failures may soon be in 'orange uniforms'

By: News24Wire      13th February 2019 Public Enterprises Minister Pravin Gordhan has said that government plans to hold those responsible for Eskom's failures to account. Gordhan said there would be litigation against those responsible for the poor design of Medupi and also suggested that, in terms of corruption, some people might... 

South Africa not planning to privatise Eskom after split – Gordhan

By: Reuters     13th February 2019 South Africa is not planning to privatise embattled power utility Eskom after the firm is split into three separate entities of generation, transmission and distribution, Public Enterprises Minister Pravin Gordhan said on Wednesday. "At no stage has the president said, or the government... 

Battle lines drawn as opposition parties contest Ramaphosa’s Eskom unbundling plan  

By: Terence Creamer     12th February 2019 The future structure of South Africa’s debt-laden electricity producer Eskom emerged as the central topic during the debate on President Cyril Ramaphosa’s February 7 State of the Nation Address (SONA), in which he announced that the utility would be split, under Eskom Holdings, into three... 

Eskom blames new-plant faults as South Africa blackouts continue

By: Bloomberg     12th February 2019 Struggling power utility Eskom started a third day of power outages, blaming issues including failures at two huge new power stations that are also the main source of the company’s massive debt. Eskom on Tuesday implemented rotational power cuts of 3 000 MW. The utility Monday resorted to the... 

Kusile power plant project, South Africa

By: Sheila Barradas     8th February 2019 Eskom has offered a sobering update on the difficulties it is having at its Kusile project. 

Medupi power station project, South Africa

By: Sheila Barradas     8th February 2019 Eskom has offered a sobering update on the difficulties it is having at its Medupi project. 

Transnet promises to ramp up efficiency 

By: Kim Cloete     6th February 2019 Transnet has promised to deal with corruption and step up efficiency around its operations, which have taken a heavy knock over the past few years. “Over the past ten years, we have injected capital of R42-billion into the network side. Yet the scale of the network is worse today than it was ten... 

Eskom’s own survival at risk should big hikes be permitted, EIUG warns  

By: Terence Creamer     5th February 2019 The Energy Intensive User Group (EIUG) has added its voice to the overwhelming chorus of societal opposition to Eskom’s latest tariff submission, warning on Tuesday that above-inflation hikes would have “immediate, catastrophic and irreversible” consequences for South Africa’s mining and... 

Technical defects at Medupi and Kusile resulting in serious underperformance  

By: Terence Creamer     1st February 2019 State-owned electricity producer Eskom has offered a sobering update on the difficulties it is having at its Medupi and Kusile coal projects, which are not only years behind schedule and significantly over budget, but are now also beset with technical defects that are resulting in a serious... 

Ministers discuss potential solutions to South Africa’s slow growth

By: Marleny Arnoldi     29th January 2019 Steps need to be taken to improve South Africa’s poor growth performance in a manner that is economically inclusive and equitable, a panel of Ministers outlined during the Business Unity South Africa Business Economic Indaba, in Midrand, on Tuesday. Finance Minister Tito Mboweni stressed that... 

Gordhan says Eskom restructuring decision imminent  

By: Terence Creamer     29th January 2019 Public Enterprises Minister Pravin Gordhan said on Tuesday that Eskom’s financial and operational problems were unlikely to be solved without structural changes being made at the State-owned electiricity utility. Speaking as part of a panel discussion at Business Unity South Africa’s inaugural... 

Eskom warns of impact of rising municipal debt on its sustainability 

By: Tasneem Bulbulia     24th January 2019 Rising municipal debt, coupled with Eskom’s poor financial and operational performance, pose a systemic risk to the sustainability of the company, State-owned Eskom CFO Calib Cassim said during public hearings into Eskom’s three-year tariff application, in Bloemfontein, on Wednesday. Cassim said... 

South Africa says there is no Saudi proposal on Denel under consideration 

By: Reuters     22nd January 2019 The South African government is not considering any proposal from Saudi Arabia on taking a stake in struggling state arms company Denel, Public Enterprises Minister Pravin Gordhan said, after the Gulf country offered to partner with Denel last year. "There is no proposal from the country in... 

Denel reaffirms commitment to transformation  

By: Marleny Arnoldi     14th January 2019 State-owned arms manufacturer Denel on Monday reaffirmed the validity of its decision to appoint Daniel du Toit group CEO, after stakeholders raised concerns. Du Toit’s appointment was announced in December.  

Workers union Limusa slams Denel for appointing a white CEO, Daniel Du Toit 

By: African News Agency      7th January 2019 The Liberated Metalworkers Union of South Africa (Limusa) on Monday rejected the appointment of Daniel du Toit as the group CE of State-owned arms manufacturer, Denel, saying that the Public Enterprises Minister must implement employment equity recommendations.   The department of public... 

Denel appoints Daniel Du Toit as new group CEO

By: African News Agency      20th December 2018 The Department of Public Enterprises and State-owned defence equipment company Denel on Thursday announced Daniel du Toit as the new group chief executive after Cabinet approved the appointment. This comes after Zwelakhe Ntshepe resigned with immediate effect as Denel chief executive in May... 

Ramaphosa appoints high-level Eskom sustainability task team to resolve problems 

By: African News Agency      14th December 2018 President Cyril Ramaphosa has appointed a high-level task team to come up with solutions to the many challenges that Eskom faces, the Presidency said in a statement on Friday. And as a signal of the urgency of its task, the President has asked the Eskom sustainability task team to submit initial... 

SAA welcomes government’s support

By: Marleny Arnoldi     12th November 2018 South African Airways (SAA) has assured its stakeholders, customers and suppliers of its business continuity after government confirmed that the airline will not be shut down or sold. Public Enterprises Minister Pravin Gordhan last week clarified government’s position that, while the airline... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’ 

By: Terence Creamer     7th November 2018 Transnet acting CEO Tau Morwe is prioritising the restoration of trust, internally and externally, which he acknowledges has been affected by the “turbulence” associated with recent action taken by the board to tackle corruption and recover money “siphoned” from the State-owned company. However,... 

Denel reports R1.7bn operating loss for 2017/18, turnaround progressing 

By: Marleny Arnoldi     31st October 2018 State-owned defence industrial group Denel on Wednesday, with the release of its yearly results, stated that its operating loss of R1.7-billion for the 2017/18 financial year clearly shows a business that has had a difficult year, marked by lapses in governance, mismanagement and poor contract... 

Eskom won't need more government cash over next year – Minister 

By: Reuters     8th October 2018 State-owned power firm Eskom does not require government cash injections over the next 12 months, the country's Public Enterprises Minister Pravin Gordhan said on Monday. Cash-strapped Eskom is critical to Africa's most industrialised economy as it supplies more than 90 percent of its power but... 

President's office says 'not aware' of Nene request to be sacked

By: Reuters     8th October 2018 President Cyril Ramaphosa's spokesperson said on Monday his office was not aware of Finance Minister Nhlanhla Nene's request to be relieved of his duties after he admitted to visiting the Gupta brothers. The rand fell more than one percent when Business Day newspaper reported Nene had asked... 

Transnet head Gama given notice of termination, board confirms

By: News24Wire      28th September 2018 The Transnet Board has confirmed Transnet group chief executive Siyabonga Gama was given notice of termination, with ten days to justify why he should not be axed. In a statement, the Board said it had on Thursday served Gama with a letter explaining its decision, citing "serious violations" of... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Pretoria high court dismisses Transnet director's challenge to dismissal

By: African News Agency      19th September 2018 The Pretoria High court on Tuesday dismissed former Transnet director Seth Radebe's challenge to have his removal by Public Enterprises Minister Pravin Gordhan set aside. Gordhan said in a statement he welcomed the ruling, adding that Rabebe's approach to the court had been "vexacious". 

Eskom delays finalisation of new strategy to mid-November  

By: Terence Creamer     18th September 2018 South Africa’s electricity utility Eskom has delayed the publication of a new strategy blueprint to mid-November from an initial deadline of the end September to allow for greater consultation with external stakeholders. Following the appointment of a new board in February, a strategy review was... 

Forensic identification results into CTown munitions explosion almost ready

By: African News Agency      13th September 2018 The results of a forensic identification into the deadly explosion at the Rheinmetall Denel Munition (RDM) munitions factory in Cape Town nine days ago will be released later this week. The management of RDM hosted a lunch on Wednesday for the families affected by the explosion which claimed the... 

Gordhan: Fuel prices will rock SOEs 

By: News24Wire      3rd September 2018 Public Enterprises Minister Pravin Gordhan has told Parliament that most of the companies in his portfolio will be rocked by the latest fuel price hikes, with exposure to these hikes racking up millions in extra costs.  In a reply sent to Members of Parliament last week, Gordhan said an increase... 

Power Shifts

By: Terence Creamer     31st August 2018 Electricity nerds such as myself are bracing themselves for a breathless few months, with significant developments on the horizon. Much of the focus will be on the updated Integrated Resource Plan (IRP), which has finally been released for public comment. This is a critical document and it is... 

Ring-fence Eskom’s ‘bad bank’ generation assets, says energy expert   

By: Terence Creamer     29th August 2018 A leading electricity expert is warning that there is little or no prospect that Eskom can trade itself out of its current financial difficulties and that restructuring – including a vertical separation of its cash-guzzling generation assets from its transmission, system operator and distribution... 

Denel is getting itself back on an even keel, but needs further government guarantees

By: Rebecca Campbell     29th August 2018 State-owned defence industrial group Denel’s acting Group CEO Michael Kgobe assured the Parliamentary Portfolio Committee on Public Enterprises on Wednesday that the new Denel Board was carrying out comprehensive actions against corruption and dubious transactions, as well as to reinforce... 

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