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$150m Brics bank facility seen helping ease South Africa’s grid bottlenecks

By: Terence Creamer     19th July 2016 State-owned electricity producer Eskom expects to finalise commercial terms with the New Development Bank (NDB), of the Brics grouping, for a $150-million facility in the next quarter, CFO Anoj Singh reports. A term sheet has been signed with the NDB and Singh reports that, once consummated, the... 

Denel denies Gupta capture 

By: African News Agency      15th July 2016 State-owned defence conglomerate Denel on Thursday sought to refute allegations that it had been co-opted by the Gupta family to give a R1-billion contract to VR Laser instead of LMT Holdings, which has cried foul and turned to the high court. "Denel wish to respond to the adverse reporting which... 

Future of Shosholoza Meyl

     14th July 2016 The Passenger Rail Agency of SA (Prasa) knew how costly the long distance Shosholoza Meyl service were and that it needed funding when it was moved from Transnet to the railway operator in 2005. “Up to now Government has repeatedly stated that it will ensure that there is sufficient funding for... 

Big ‘focus’ on ensuring rail OEMs meet local-content commitments 

By: Terence Creamer     24th June 2016 A senior Department of Trade and Industry (DTI) official “promised” on Friday that the department was giving focused attention to ensuring that the local-content targets associated with Transnet’s R50-billion locomotive procurement programme were met. Chief director for industrial procurement Dr... 

Next week’s Manufacturing Indaba to host minister, VIPs and international manufacturing experts

     20th June 2016 Manufacturing stakeholders are keen to keep the momentum going in their manufacturing operations, which make up South Africa’s fourth-biggest economic sector. Manufacturing saw a recent recovery despite weak demand. Manufacturing business confidence rose five index points to 23 in the second... 

Manufacturing Indaba continues to deliver despite economic climate

By: Nadine James     17th June 2016 The Manufacturing Indaba, which takes place on June 28 and 29 at Emperors Palace in Ekurhuleni, Gauteng, has shown consistent growth over the past three years in terms of attendance and scope, despite tough economic conditions, says Manufacturing Indaba MD Liz Hart. Even with companies scaling... 

Eskom outlines its position on coal contract to Gupta-linked firm 

By: Creamer Media Reporter      12th June 2016 In a seeming effort to preempt a City Press report raising questions about the award, by State-owned electricity utility Eskom, of a multimullion-rand coal contract to the Gupta-family-linked Tegeta Exploration and Resources, in which President Jacob Zuma’s son, Duduzane, is a shareholder, Eskom... 

Eskom unveils new nuclear operator training programme with formal launch

By: Keith Campbell     9th June 2016 National electricity utility Eskom has announced that it started training some 100 recruits as nuclear operators on May 1. This Nuclear Project 100 initiative was formally launched on Thursday by Public Enterprises Minister Lynne Brown. The training is taking place at the Koeberg nuclear power... 

SA Manufacturing Needs To Empower Small Businesses

     3rd June 2016 Small to medium and micro enterprises (SMMEs) are the engine of economic growth and are essential for competitive and efficient economic growth. Research has shown that SMMEs are critical for poverty reduction and can play a particularly important role in developing countries. SMMEs are the... 

Eskom to waive Soweto users’ debt, on condition 

By: News24Wire      25th May 2016 Eskom will waive Soweto residents’ debt repayments as an incentive to convert to prepaid meters, it was revealed  in a written reply in Parliament by the Department of Public Enterprises (DPE) on Wednesday. The DPE was responding to a question by Democratic Alliance MP Natasha Mazzone, who asked... 

DTI moving to iron out local-content frustrations around Transnet contracts

By: Terence Creamer     24th May 2016 The Department of Trade and Industry (DTI) has confirmed that it is “concerned” about whether all four of the original equipment manufacturers (OEMs) that have been awarded parts of a R50-billion contract to supply 1 064 electricity and diesel locomotives to Transnet will meet the minimum... 

South East Asia venture 'part and parcel' of Denel’s growth strategy

By: Samantha Herbst     11th May 2016 Continuing to defend its joint venture (JV) with steel manufacturing group VR Laser Services to establish Denel Asia, State-owned defence industrial group Denel told the Portfolio Committee on Public Enterprises in Parliament on Wednesday that its decision to extend its business footprint in... 

Denel’s Venture In South East Asia Forms Part Of Global Growth Strategy

     11th May 2016 Denel is increasingly looking at export sales including in the rapidly-expanding Asia-Pacific region -- in terms of its mandate to create a financially self-sustainable defence business, Mr Odwa Mhlwana, acting Group Chief Financial Officer, told the Portfolio Committee on Public Enterprises in... 

Denel tells Gordhan: We are not arrogant and belligerent 

By: News24Wire      5th May 2016 Denel’s board said Finance Minister Pravin Gordhan’s accusation that the board and executives are “arrogant and belligerent … are unsubstantiated, baseless and unfounded”. Gordhan made the accusation during his Treasury budget debate in Parliament on Wednesday. This follows a statement in April,... 

Eskom claims ‘steady’ recovery in energy availability factor 

By: Terence Creamer     4th May 2016 State-owned electricity utility Eskom this week claimed that there had been a steady improvement in the energy availability factor (EAF) at its power stations, reporting “preliminary figures” indicating an EAF of 76.37% from the start of its financial year to May 3, 2016. The group’s financial... 

Lynne Brown: SOEs must stay in government hands 

By: News24Wire      26th April 2016 Government needs to retain its ownership of state-owned companies to ensure economic growth and create employment for generations to come, said Public Enterprises Minister Lynne Brown. In her budget speech for the 2016-17 financial year, Brown emphasised that South Africa’s parastatals, worth... 

Brown grilled over Gupta links 

By: News24Wire      26th April 2016 Opposition parties on Tuesday laid into Public Enterprises Minister Lynne Brown for allowing the controversial Gupta family to infiltrate South Africa’s State-owned companies. In her budget speech for the 2016-17 financial year, Brown said the government needs to retain its ownership of... 

Brown wants high cost of coal to Eskom investigated 

By: Terence Creamer     26th April 2016 Public Enterprises Minister Lynne Brown argued in Parliament on Tuesday that, as a 60% offtaker of coal in South Africa, Eskom should be in a position to command better coal prices and lamented the fact that the State-owned utility’s coal costs were rising at levels above inflation. “I am well... 

Denel Asia's problems mount

By: News24Wire      26th April 2016 Denel Asia's problems mounted on Monday after it emerged that it had not applied for a permit to the National Conventional Arms Control Committee (NCACC), Minister in the Presidency Jeff Radebe said "The NCACC would appreciate any evidence or information relating to such an application as this... 

Alexkor still eyes coal despite operating loss

By: News24Wire      20th April 2016 State-owned diamond mining company Alexkor has not given up on plans to venture into coal mining. In 2013, the entity’s then CEO Percy Khoza said it planned to form partnerships with emerging black coal miners to diversify its operations away from diamonds, which have been in decline for a number... 

SA Manufacturing Needs To Empower Small Businesses

     18th April 2016 Small to medium and micro enterprises are the engine of economic growth and are essential for competitive and efficient economic growth. Research has shown that SMMEs are critical for poverty reduction and can play a particularly important role in developing countries. SMMEs are the largest... 

Denel says it seeks to resolve 'misunderstandings' with National Treasury

By: Keith Campbell     14th April 2016 State-owned defence industrial group Denel issued a press release on Thursday stating that it will continue to discuss with National Treasury the issue of its joint venture with private sector South Africa company VR Laser, to create a Hong Kong-based company to be called Denel Asia, to resolve... 

Room for 25% equity partner in SAA merger – Brown

By: News24Wire      6th April 2016 Public Enterprises Minister Lynne Brown said on Wednesday that she is in favour of a merger between South African Airways (SAA) and SA Express, but said the question is how it should happen. Brown outlined her department’s strategic and annual performance plans to the Portfolio Committee on... 

Minister explains why Denel suspended execs

By: News24Wire      6th April 2016 The investigation into the conduct of three top officials of Denel suspended in September last year should be concluded by the end of June, said Public Enterprises Minister Lynne Brown on Wednesday. Addressing members of the Portfolio Committee on Public Enterprises, Brown said the three... 

New body for South African defence industry launched

By: Keith Campbell     18th March 2016 South Africa’s National Defence Industry Council (NDIC) was formally launched by Defence and Military Veterans Minister Nosiviwe Mapisa Nqakula on March 3. “Today marks an historic day in the existence of the South African Defence Industry and its relationship with the South African government... 

Former Minister Hogan says Zuma interfered in Public Enterprises

By: African News Agency      17th March 2016 Former Public Enterprises Minister Barbara Hogan on Thursday said President Jacob Zuma meddled in her portfolio and pressed her to appoint and retain people in key positions at state-owned enterprises, including a compromised individual. Asked by eNCA whether Zuma interfered while she held the... 

Mentor stands her ground, claims she has proof of Gupta job offer

By: African News Agency      17th March 2016 In a fresh post on Facebook on Thursday former ANC MP Vytjie Mentor claimed she has proof that President Jacob Zuma was present at the Gupta family’s Saxonwold home when they offered her the public enterprises minister post. Mentor dared the controversial family to take her to court over her... 

Zuma takes the hot seat in Parliament

By: News24Wire      17th March 2016 President Jacob Zuma will take the hot seat in Parliament on Thursday in an question and answer session with MPs amid explosive revelations that the Gupta family had been trying to influence Cabinet appointments. Zuma is expected in the National Assembly Chamber at 14:00. 

I could no longer stay quiet on Gupta offer - Jonas

By: News24Wire      17th March 2016 Deputy Finance Minister Mcebisi Jonas said he could no longer remain quiet about the Gupta family offering him the top job in the ministry. Jonas on Wednesday confirmed he was offered the job of finance minister before Nhlanhla Nene was removed. 

Govt not working together to avoid junk status – DA  

By: News24Wire      15th March 2016 Despite Finance Minister Pravin Gordhan attempts to reassure South Africans that the government is doing all it can to avoid a credit downgrade to junk status, the real problem is that government itself is not working together towards this objective, according to Democratic Alliance (DA) shadow... 

Unit 3 of Ingula pumped-storage scheme synchronised to the grid 

By: Anine Kilian     10th March 2016 Unit 3 of State-owned Eskom's Ingula pumped-storage scheme was synchronised to the national power grid at the weekend, a year ahead of schedule. Speaking at a media briefing on Thursday, Public Enterprises Minister Lynne Brown said an additional 330 MW of capacity would be available to the grid,... 

Brown: Eskom debt could climb to R350bn within 5yrs 

By: News24Wire      4th March 2016 Eskom had a debt of R333-billion at the end of last year, according to a written parliamentary reply by Public Enterprises Minister Lynne Brown. The power utility's approved borrowing programmes in the 2015/16 corporate plan was R237-billion. 

Power transmission infrastructure projects key to sustainability of local fabricators

By: Dylan Slater     26th February 2016 Orders for fabricated steel structures for power-line transmission infrastructure have the potential to boost and sustain significant levels of domestic manufacturing capability in the steel industry, says Southern African Institute of Steel Construction (Saisc) industry development executive... 

Equity partner mooted as part of SAA-SAX merger plan 

By: Terence Creamer     24th February 2016 Finance Minister Pravin Gordhan announced on Wednesday that government would explore a possible merger of the financially distressed South African Airways (SAA) with SA Express (SAX) and that it was also open to “engaging with a potential minority equity partner”. However, the programme would... 

Denel

By: Zandile Mavuso     19th February 2016 Established in April 1992, State-owned aerospace and defence technology group Denel continues to provide turnkey defence equipment solutions to its clients by designing, developing, integrating and supporting aerospace and defence technology. 

Denel grilled over Gupta-linked joint venture 

By: News24Wire      17th February 2016 Denel’s top management insisted on Wednesday that no law has been broken and that all its decisions and activities on the controversial VR Laser joint venture deal took place within the Public Finance Management Act (PFMA). Denel chairperson Daniel Mantsha told MPs in the Select Committee on... 

Door still open to controversial Denel Gupta deal 

By: News24Wire      16th February 2016 A joint venture with Denel which has attracted controversy because of its links to the influential Gupta family is not yet a done deal, the Department of Public Enterprises said on Tuesday. “There are still other conditions to be met before final approval can be granted,” Colin Cruywagen,... 

SA defence group promoting high-tech education, training

By: Keith Campbell     5th February 2016 The Acting CEO of South Africa’s State-owned defence industrial group Denel, Zwelakhe Ntshepe, is “delighted” at his company’s role in helping prepare young South Africans to participate in the Fourth Industrial Revolution. He was speaking at the group’s recent annual Young Achievers Awards... 

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