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IPP Office head says stakeholder alignment key to regular, investment-promoting procurement rhythm

By: Terence Creamer Updated 21 minutes ago The head of South Africa’s Independent Power Producer (IPP) Office believes that improved stakeholder management and alignment are key to overcoming delays to the introduction of urgently required new electricity capacity and to creating the predictable “procurement rhythm” required to attract... →

IPP Office head Bernard Magoro

Port of Maputo unveils rehabilitated berths; new masterplan looks at further expansion

By: Irma Venter 16th May 2022 Mozambican President Filipe Jacinto Nyusi last week inaugurated 1 058 m of rehabilitated berthing area – comprising berths 6, 7, 8 and 9 – at the Port of Maputo. The berths, rehabilitated, expanded and dredged to depths of up to –16 m, are now fully operational, allowing the port to receive and... →

The Port of Maputo

Emissions reduction tech at Kusile contributes to move to Stage 4 load-shedding

By: Darren Parker 16th May 2022 State-owned utility Eskom was forced to implement Stage 4 load-shedding on the evening of May 16 after Unit 2 at the Kusile power station tripped, Eskom spokesperson Sikonathi Mantshantsha said. The tripped Kusile unit removed 720 MW of generating capacity from the already constrained grid. →

Kusile

City of Cape Town moves to plastic water meters as theft rises sharply

By: Irma Venter 16th May 2022 The City of Cape Town has reported “a notable increase” in the theft of water meters reported across the city over the past eight months. A total of 3 341 incidents have been reported from July 1, last year, to April 30, this year. →

Transnet increasing supply of jet fuel to ORTIA as railway line repairs start

By: Tasneem Bulbulia 16th May 2022 State-owned Transnet says it is increasing the supply of jet fuel through the National Multi-Product Pipeline from Durban inland, while repairs to the railway line that is also used to transport fuel to Gauteng get under way following damage from the floods in KwaZulu-Natal in April. Currently,... →

BLSA suggests business plan for an incoming modernised electricity system

By: Marleny Arnoldi 16th May 2022 South Africa will eventually find itself with a thoroughly modern electricity supply sector, including many generators competing with each other, an effective distribution operator and a wide marketplace for consumers to buy electricity. Businesses should see through the doom and gloom of the... →

BLSA CEO Busi Mavuso

Eskom doesn't expect any unlawful strikes as wage saga kicks into gear

By: News24Wire 16th May 2022 Eskom does not anticipate any unlawful strikes or disruptions at its operations while a wage dispute with unions is being dealt with, according to its CEO, André de Ruyter. De Ruyter was briefing reporters on Monday morning about the jump to Stage 3 load-shedding for Monday and Tuesday evening.... →

Photo by Donna Slater
Eskom CEO André de Ruyter

AECI invests R505m in US growth projects

By: Tasneem Bulbulia 16th May 2022 South African chemicals group AECI is investing $31-million, or about R505-million, in two strategic growth projects that are expected to double the profitability of AECI Schirm USA on an ongoing basis moving forward. The investments build on AECI Schirm USA’s growth trajectory of the last two... →

Emira grows US investment

By: Tasneem Bulbulia 16th May 2022 JSE-listed Emira Property Fund has acquired its twelfth grocery-anchored open-air shopping centre in the US. Always investing together with its in-country US investment partners, the Rainier Group of Companies, Emira has now invested a further $18.45-million into the equity of a 542 000 ft2... →

SARB takes control of small lender Ubank

By: Reuters 16th May 2022 South Africa's central bank said on Monday it had placed Ubank, a small South African lender primarily offering financial services to families of gold and platinum miners, under a curatorship with immediate effect. South African Reserve Bank Governor Lesetja Kganyago said in the last two years... →

Vodacom posts earnings increases as it concludes watershed transition year

By: Natasha Odendaal 16th May 2022 As telecommunications group Vodacom posts increases across the board for the year ended March 31, group CEO Shameel Joosub describes the year under review as being watershed for the evolving technology group. Vodacom has made significant strides in transitioning into a pan-African technology... →

Altron reports double-digit growth in year-end earnings

By: Natasha Odendaal 16th May 2022 JSE-listed technology company Altron posted a 37.8% increase in headline earnings per share (HEPS) to 51c apiece, and a 82.9% increase in normalised HEPS to 75c a share during the year ended February 28, 2022. This is despite a “tough” year owing to the sustained Covid-19 pandemic, a global... →

Redefine reinstates interim dividend at 23.69c

By: Marleny Arnoldi 16th May 2022 JSE-listed real estate investment trust (Reit) Redefine Properties has posted 5.9% higher distributable income at R1.5-billion for the six months ended February 28. Distributable income a share amounted to 26.33c apiece, compared with distributable income a share of 26.18c apiece in the prior... →

Balwin declares dividend on the back of record revenue, lifts profit by 15%

By: Donna Slater 16th May 2022 JSE-listed property developer Balwin Properties increased its profit for the financial year ended February 28 by 15% year-on-year, resulting in a profit margin of 27%, while revenue increased by 16% to R3.1-billion. As a result, Balwin’s net asset value increased by 10% to R7.49 a share. →

Sustainability, affordable housing demand underpin Calgro M3’s strong full-year performance

By: Schalk Burger 16th May 2022 JSE-listed property development company Calgro M3 CEO Wikus Lategan attributes a 50.3% increase in group revenue to R1.32-billion for the financial year ended February 28, to demand for and sales of affordable housing units, as well as the company's focus on sustainable developments and its own... →

Raubex posts good full-year results amid higher infrastructure spend by govt

By: Marleny Arnoldi 16th May 2022 JSE-listed construction and engineering company Raubex posted a 159% year-on-year increase in its operating profit to R945-million for the financial year ended February 28. The group posted a R364-million operating profit in the year ended February 28, 2021. →

Astral posts higher interim profit, revenue

By: Donna Slater 16th May 2022 Integrated poultry producer Astral increased its revenue for the six months ended March 31 by 26.5% year-on-year to R9.4-billion, while its net profit from continuing operations increased by 145% year-on-year to R546.86-million. Operating profit from continuing operations increased by 134%... →

Fuchs launches new head office, warehouse in Isando

By: Tasneem Bulbulia 16th May 2022 Independent lubricant manufacturer Fuchs Lubricants South Africa on May 13 officially launched its newly built head office and warehouse in Isando, Johannesburg. The company has invested over R250-million in the expansion at its existing location, noting that this came in the wake of it rapid... →

An image showing the exterior of the Fuchs office building

Photo by Creamer Media's Tasneem Bulbulia
Office exterior

UK announces new international aid strategy

By: Rebecca Campbell 16th May 2022 The UK unveiled its new International Development Strategy on Monday. The country has revamped this strategy because of the significant changes in global politics, with the re-emergence of Great Power confrontation (as against mere competition) and the concomitant increase in the risk of major... →

Input into draft National Labour Migration Policy, Employment Services Bill requested

By: Donna Slater 16th May 2022 The Mpumalanga Department of Employment and Labour is inviting stakeholders to make inputs at a May 19 workshop on the draft National Labour Migration Policy (NLMP) and the Employment Services (ES) Bill, following their February 28 release. The workshop – to be held at 10.00 at the MacBest... →

Takeovers Panel makes final orders relating to DRA Global

By: Tasneem Bulbulia 16th May 2022 The Australian government’s Takeovers Panel has made final orders in relation to an application dated March 21 by Haydn Von Maltitz in relation to the affairs of JSE- and ASX-listed DRA Global. On May 9, the panel made a declaration of unacceptable circumstances in relation to the affairs of DRA. →

Sibanye-Stillwater hoists first tons from R4bn 4 000-job K4 platinum project

By: Martin Creamer 16th May 2022 The first tons have been hoisted at Marikana K4, Sibanye-Stillwater’s high-return resumed platinum group metals (PGM) project, which was largely predeveloped and equipped when acquired from the now defunct Lonmin in 2019. “The K4 project is an unrivalled, top-tier project in the PGM industry,... →

The K4 headgear of the new platinum group metals shaft.

Load-shedding escalated to Stage 4 on Monday

By: News24Wire 16th May 2022 Load-shedding will be escalated to Stage 4 on Monday afternoon, Eskom announced. This is owing to a unit at Kusile power station tripping earlier on Monday, taking 720MW of generating capacity with it, Eskom spokesperson Sikonathi Mantshantsha said. "While this unit has since returned to... →

South Africa’s high-flying Jubilee creating 800 mostly long-term jobs in Zambia

By: Martin Creamer 16th May 2022 Diversified metal recovery business Jubilee, which is rolling out an investment of R786-million in South Africa and Zambia, has offered employment and contractor opportunities to more than 800 people in Zambia, the most of which are long term, the company stated in a release on Monday. In Zambia,... →

Screenshot of website image and enhancement

Copper and cobalt in Zambia and platinum group metals and chrome in South Africa.

Things looking interesting for platinum despite surplus

By: Martin Creamer 16th May 2022 What the World Platinum Investment Council (WPIC) is forecasting for 2022 is a reduced but still large platinum surplus of 627 000 oz. But this surplus is extremely vulnerable to the issues the WPIC thinks may play out, particularly: →

World Platinum Investment Council Research Director interviewed by Mining Weekly's Martin Creamer. Video Darlene Creamer.

Creecy issues call for air quality appeals panel nominees

By: Darren Parker 13th May 2022 Forestry, Fisheries and the Environment Minister Barbara Creecy has initiated the process to appoint an expert panel in terms of Section 3 of the National Environment Management Act, to advise her on appeals related to air quality matters currently under consideration. The Department of Forestry,... →

Forestry, Fisheries and the Environment Minister Barbara Creecy

Motlanthe says corruption has been a long time coming

By: Marleny Arnoldi 13th May 2022 Former President Kgalema Motlanthe said the African National Congress (ANC) is in need of an overhaul to reinstate trust between itself and society. In conversation with policy analysis company Centre for Development and Enterprise (CDE), he raised concerns about the way the governing party had... →

IS3 recognises industrial software clients for excellent technology application

By: Schalk Burger 13th May 2022 Industrial software company Industry Software Solutions and Support (IS³) recognised excellence among its end-users for the implementation of AVEVA solutions, which showed significant return on investment and business value across all industries. As the finale for IS3's X-Change User Conference,... →

Godongwana says work under way to unblock R54bn embedded generation pipeline

By: Terence Creamer 13th May 2022 Finance Minister Enoch Godongwana reports that work is under way with the private sector to unblock the remaining obstacles to investment of about R54-billion in embedded generation projects. Speaking during a presentation of Operation Vulindlela’s first quarter progress report, Godongwana said... →

Finance Minister Enoch Godongwana

Humans to continue to be involved in autonomous drone flights

By: Donna Slater 13th May 2022 As drone users think of new ways to deploy drones, there is a requirement to use them beyond visual line of sight (BVLOS) and autonomously. However, humans are still needed to conduct behind-the-scenes activities, said software and aircraft designer Fixar drones sales manager Ronald Schultz. →

Newly rebranded DFI launches in Kenya

By: Darren Parker 13th May 2022 The newly rebranded UK government’s development finance institution (DFI) British International Investment (BII) was launched on May 12 at the British High Commissioner’s residence in Nairobi, Kenya – one of the DFI’s most important markets. The event was attended by BII CEO Nick O’Donohoe and... →

South Africa must cut red tape to close energy gap, ANC suggests

By: Bloomberg 13th May 2022 South Africa must accelerate plans to generate more electricity itself, buy more energy from private producers and make it easier for power-hungry mining companies to build their own plants, according to a draft economic policy document compiled by the nation’s governing party. Projects outlined... →

Seifsa to host conference on Steel Master Plan

By: Tasneem Bulbulia 13th May 2022 The Steel and Engineering Federation of Southern Africa (Seifsa) will hold a Mainstreaming the Steel Master Plan Conference, at Emperors Palace, in Kempton Park, on May 19 and 20. “Steel forms the foundation of any modern economy and is essential to every single industry sector. Our steel sector... →

PIC welcomes appointment of Standard Bank’s new chairperson

By: Darren Parker 13th May 2022 The Public Investment Corporation (PIC) has welcomed the appointment of the new Standard Bank Group chairperson Nonkululeko Nyembezi, who will take office on June 1. Nyembezi’s appointment as a female black chairperson of a major commercial bank is a significant milestone in terms of... →

RMI puts its full support behind upcoming Automechanika trade fair

By: Darren Parker 13th May 2022 Industry body the Retail Motor Industry Organisation (RMI) has pledged its support to the international automotive service industry trade fair Automechanika Johannesburg, which will be held at the Johannesburg Expo Centre, Nasrec, from June 7 to 10. The event is sponsored by financial institution... →

SARS inches closer to strike as PSA puts tax body on notice

By: News24Wire 13th May 2022 The Public Servants' Association has put the South African Revenue Service on notice that it intends to go on strike after it reached a deadlock with the tax body during wage negotiations. If the deadlock at the Commission for Conciliation Mediation and Arbitration is not broken ahead of time,... →

SARS Commissioner Edward Kieswetter

Black hole at centre of the Milky Way successfully imaged

By: Rebecca Campbell 13th May 2022 The international scientific collaboration known as the Event Horizon Telescope (EHT) has published the first ever images of the black hole, designated Sagittarius A* (Sgr A*), which sits at the centre of our galaxy, the Milky Way. In 2019, the EHT collaboration, which is composed of more than... →

Photo by Event Horizon Telescope
The Sagittarius A* black hole at the centre of our own galaxy

DWS commits to responsibly manage budget

By: Natasha Odendaal 13th May 2022 As the Department of Water and Sanitation (DWS) tables its budget for the next three financial years, Minister Senzo Mchunu has committed to ensuring that the department manages its significant budgets responsibly and effectively. On May 13, Mchunu tabled a combined budget of R111.25-billion for... →

Water and Sanitation Minister Senzo Mchunu

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