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Fresh moves under way to address debt albatross at lossmaking Eskom 

By: Terence Creamer     30th October 2020 Public Enterprises Minister Pravin Gordhan said on Friday that a “second round” of work is being initiated in an effort to find a solution to Eskom’s unsustainable debt burden in line with the recent social compact between government, community, labour and business to “mobilise funding to address... 

Fresh moves under way to address debt albatross at lossmaking Eskom
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Hyundai South Africa expects 15% drop in sales for 2020 

By: Irma Venter     30th October 2020 Hyundai Automotive South Africa (HASA) will probably record a 15% drop in new-vehicle sales in 2020, says CEO Niall Lynch. This is better than the 25% to 30% drop expected in the overall domestic new-vehicle market, he adds. 

Hyundai South Africa expects 15% drop in sales for 2020
The new Grand i10

Nersa permitted to grant above 1 MW licences without Ministerial approval  

By: Marleny Arnoldi     30th October 2020 The National Energy Regulator of South Africa (Nersa) has been granted permission to process licence applications for self-generation facilities of above 1 MW, even if they are not in compliance with the Integrated Resource Plan 2019 (IRP 2019). This approval, which was granted by Mineral... 

Nersa to hold public hearings on Eskom's MYPD 3 RCA applications 

By: Tasneem Bulbulia     30th October 2020 The National Energy Regulator of South Africa will hold virtual public hearings on State-owned power utility Eskom’s third Multi-Year Price Determination Regulatory Clearing Account Year 2 (2014/15), Year 3 (2015/16) and Year 4 (2016/17) applications, Eskom’s supplementary application and the... 

Nersa to hold public hearings on Eskom's MYPD 3 RCA applications

Competition Tribunal approves Comair rescue deal

By: Reuters     30th October 2020 The Competition Tribunal on Friday approved a rescue deal for struggling airline Comair on condition that the carrier freezes job cuts for three years and investors allocate shares to a special purpose black empowerment vehicle. Comair, which operates the British Airways franchise in South Africa... 

Opinion: Defence industry nowhere to be seen in science, technology and innovation policy

30th October 2020 In this opinion article, Dr Mthobisi Zondi argues that the South African government cannot implement critical science, technology and innovation (STI) policy while excluding the defence industry, which he describes as a capable sector with immense potential. The importance of science, technology... 

Opinion: Defence industry nowhere to be seen in science, technology and innovation policy
Dr Mthobisi Zondi

South African budget lacks detail on reform implementation, debt will increase says Moody's

By: Reuters     30th October 2020 South Africa's budget lacks detail on how and when the government will implement policies to boost economic growth, ratings agency Moody's said, so public debt will likely continue to increase for years. "As a result, we expect the economy will remain subdued and for fiscal consolidation to be... 

Steinhoff's former CEO Jooste fined R162m for insider trading

By: Bloomberg     30th October 2020 Steinhoff International Holdings former CEO Markus Jooste has been fined R162-million by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago. Jooste sent a text message to four people warning them to sell their stock in the company before it... 

MTN reports strong Q3 operational performance

By: Natasha Odendaal     30th October 2020 Telecommunications giant MTN Group has reported double-digit growth in earnings and service revenue for the third quarter of 2020, as larger operations in South Africa, Nigeria and Ghana deliver solid performances and subscriber numbers surge. In the three months to September, earnings before... 

Prosper Africa launches virtual deal room, online toolkit

By: Donna Slater     30th October 2020 The US government’s Prosper Africa initiative has launched its new virtual deal room, where both businesses and investors can access actionable information and actively engage on up to 150 active Prosper Africa deals, says Prosper Africa initiative COO Victoria Whitney. Prosper Africa is an... 

Globeleq appoints new COO

By: Marleny Arnoldi     30th October 2020 African independent power producer Globeleq has appointed Gionata Visconti COO, effective early in January next year. He will be responsible for all aspects of the company’s operations and provide support for in-country governance work and asset management.  

Vivo Energy resumes dividend pay on improved trading

By: Reuters     30th October 2020 Africa-focussed fuel retailer Vivo Energy said on Friday volume improved in the third quarter from the second as COVID-19 restrictions eased and it would pay a previously withdrawn 2019 final dividend. UK-listed Vivo said it was cautiously optimistic for the rest of the year and into 2021, as no... 

UK Trade Minister stresses her country’s commitment to values-based free trade

By: Rebecca Campbell     30th October 2020 UK Secretary of State (Cabinet Minister) for International Trade Liz Truss has highlighted the “evangelical” commitment of the British government to free trade and re-affirmed the importance of free trade in increasing prosperity in the UK and around the world. In a speech on Thursday at Chatham... 

UK Trade Minister stresses her country’s commitment to values-based free trade
UK Secretary of State for International Trade Elizabeth ‘Liz’ Truss

Norway's Nel, Statkraft agree to produce green hydrogen for steelworks

By: Reuters     30th October 2020 Norwegian hydrogen producer Nel and utility Statkraft have agreed to build a plant to deliver green hydrogen to a steelworks in northern Norway, replacing fossil fuel, the companies said on Friday. A letter of intent signed by the two firms covers the delivery of an alkaline electrolyser plant... 

R1bn Richards Bay mounded LPG storage facility commissioned

By: Creamer Media Reporter      29th October 2020 The R1-billion mounded liquefied petroleum gas (LPG) storage facility, in Richards Bay, owned by South African independent bulk liquid and gas storage operator Bidvest Tank Terminals and independent LPG specialist and trader Petredec, has been commissioned. The 22 600 t storage facility is the... 

Profitable circular economy concepts making future potentially bright for coal miners  

By: Martin Creamer     29th October 2020 Coal mining companies need to start looking at creating their own profitable circular economies around existing coal assets because it is possible, says African Source Markets CEO Bevan Jones. While still responsibly mining coal, coal-mining companies have an opportunity to look at creating a... 

African Source Markets CEO Bevan Jones interviewed by Mining Weekly’s Martin Creamer.

Africa’s richest man delays cement London listing until 2023

By: Bloomberg     29th October 2020 Aliko Dangote, Africa’s richest person, has again delayed plans to sell shares in his cement maker on the London Stock Exchange, opting instead to focus on increasing exports and boosting the Nigerian company’s foreign-exchange reserves. Dangote Cement, the continent’s biggest producer of the... 

Kenyan air cargo operator takes delivery of its first Boeing 767 freighter

By: Rebecca Campbell     29th October 2020 Kenya-based air cargo operator Astral Aviation took delivery on Wednesday of a Boeing 767-200BCF freighter aircraft, which it is leasing from Nasdaq-listed Air Transport Services Group (ATSG) under a five year deal. The aircraft was delivered to Nairobi by ATSG subsidiary Cargo Aircraft... 

Kenyan air cargo operator takes delivery of its first Boeing 767 freighter
Photo by Astral
Artist’s impression of the 767-200BCF in Astral livery

Afrimat's diversification strategy paying off  

By: Marleny Arnoldi     29th October 2020 Openpit miner Afrimat reported an 11% year-on-year increase in operating profit for the six months ended August 31, despite a 9.4% year-on-year decrease in revenue. The company also ended the period with cash and cash equivalents of R330-million, a 170% year-on-year increase. 

Afrimat CEO Andries van Heerden shares how the company's diversification strategy has made it more resilient

South Africa's wage freeze plan hinged on 'difficult' negotiations, says Fitch

By: Reuters     29th October 2020 South Africa's plan to freeze public sector wages, announced by the finance minister in a budget speech, will face opposition from labour unions, ratings firm Fitch said on Thursday. The success of the plan "will depend crucially on difficult negotiations with public sector trade unions," said... 

Growthpoint receives green building certification for Exxaro head office

By: Tasneem Bulbulia     29th October 2020 Coal miner Exxaro’s new head office building, in Centurion, Gauteng, developed and owned by property developer Growthpoint, has achieved a 6-Star green rating from the Green Building Council South Africa (GBCSA) under the Green Star New Build certification system. Green building certification... 

Growthpoint receives green building certification for Exxaro head office
Exxaro exterior

Airbus Space announces technology breakthrough for producing oxygen on the Moon

By: Rebecca Campbell     29th October 2020 Airbus Defence and Space, a subsidiary of the Europe-based global Airbus group, has announced that an international team under its leadership has achieved an important technological breakthrough. They have successfully demonstrated a process invented by Airbus by producing oxygen and metals from... 

Sustainable financing imperative to sustainable future, says JSE’s Soobramoney

By: Simone Liedtke     29th October 2020 Finance has a significant role to play in a sustainable future, which comprises economic, environmental, social and governance responsibilities, JSE chief sustainability officer Shameela Soobramoney said during this year’s virtual Green Building Convention on October 29. Sustainability emerged as... 

Ctrack Freight & Transport Index sees logistics sector making a comeback

By: Irma Venter     29th October 2020 The South African logistics sector has just recorded its strongest ever quarter of growth, this according to the newest Ctrack Freight & Transport Index (CFTI). In June, at the end of the second quarter, the CFTI showed that the domestic logistics sector recorded a decline of 17.6% compared with... 

Ctrack Freight & Transport Index sees logistics sector making a comeback

Technical panel being assembled to support delivery of 62 infrastructure projects 

By: Terence Creamer     29th October 2020 Public Works and Infrastructure Minister Patricia de Lille reported on Thursday that nearly 1 200 applications were received from professionals willing to serve on the Technical Advisory Panel for South Africa’s Infrastructure Investment Plan. Applications for the panel were advertised in August... 

Technical panel being assembled to support delivery of 62 infrastructure projects
Public Works and Infrastructure Minister Patricia de Lille

Nature must be brought back into cities, says regenerative design expert

By: Simone Liedtke     29th October 2020 The construction and built environment industries need to strongly consider creative solutions, like integrating regenerative design principles, when designing and building facilities, global consulting company Mott MacDonald regenerative design head Amanda Sturgeon has said. Regenerative design... 

Nestlé launches three-pillar sustainability initiative

By: Donna Slater     29th October 2020 Food and beverage company Nestlé launched its RE sustainability initiative in South Africa on October 29. The initiative is aimed at reinforcing Nestlé's sustainability initiatives, strategies and resources to help mitigate sustainability challenges and strengthen its contribution to a waste-free... 

Tiger Brands says meat processing disposal unconditional

By: Donna Slater     29th October 2020 Consumer brands company Tiger Brands says the disposal of its meat processing businesses in Germiston, Polokwane and Pretoria, to wholly-owned subsidiary of Country Bird, Silver Blade Abattoir, has become unconditional. Accordingly, the effective date of the transaction is November 1.  

The taxi industry is 'the lifeblood of public transport', but we must fix problems – Ramaphosa 

By: News24Wire      29th October 2020 President Cyril Ramaphosa has described the taxi industry as the "lifeblood of our public transport system", but has also emphasised that problems need to be tackled. Ramaphosa - who is self-isolating after possible exposure to Covid-19 at a fundraiser event over the weekend - addressed various... 

The taxi industry is 'the lifeblood of public transport', but we must fix problems – Ramaphosa
President Cyril Ramaphosa

Temperatures up, dam levels down – KZN residents urged to save water

By: African News Agency      29th October 2020 Residents across KwaZulu-Natal (KZN) have been urged to use water sparingly as temperatures rise and the national department of water and sanitation saying it had recorded a drop in dam levels across the province and South Africa. The department’s national spokesperson, Sputnik Ratau, said via a... 

 Temperatures up, dam levels down – KZN residents urged to save water

Covid-19 taking heavy toll on retail market, dealerships, says NADA 

By: Irma Venter     29th October 2020 The Covid-19 pandemic has seen six amalgamations between dealerships from April 1 to September 30, as well as the sale of 19 dealerships and the closure of 38 dealerships among the members of the National Automobile Dealers’ Association (NADA), the association’s national director Gary McGraw... 

Covid-19 taking heavy toll on retail market, dealerships, says NADA
Gary McGraw

Sasol to test market for Southern African carbon-offset prospects 

By: Terence Creamer     29th October 2020 Chemicals and energy group Sasol has indicated that it intends issuing a request for information (RFI) for the development and implementation of carbon-offset projects in South Africa and the Southern African Development Community (SADC) and has called on potential participants to register their... 

Sasol to test market for Southern African carbon-offset prospects

Budget acknowledges economy’s plight, but more urgency required, say business organisations

By: Tasneem Bulbulia     29th October 2020 Following the delivery of the Medium Term Budget Policy Statement (MTBPS) by Finance Minister Tito Mboweni on October 29, business organisations have commended its acknowledgement of the dire economic situation facing the country, but have noted that more urgency is required in terms of reforms... 

Kusile Unit 2 reaches full commercial operational status

By: Donna Slater     29th October 2020 State-owned power utility Eskom reports that, on October 2, Unit 2 of its six-unit Kusile coal-fired power station in eMalahleni, Mpumalanga ,achieved full commercial operation status. This means the unit has progressed from its 16-month project testing phase, to officially becoming a part of... 

Kusile Unit 2 reaches full commercial operational status
Photo by Creamer Media's Donna Slater
Kusile power station under construction

Public Enterprises Ministry welcomes further government funding for SAA 

By: Rebecca Campbell     29th October 2020 The Minister of Public Enterprises has welcomed the decision by the government to back the business rescue plan for, and the restructuring of, State-owned national flag carrier South African Airways. The government has committed itself to provide R10.5-billion to fulfil these objectives. “The... 

Public Enterprises Ministry welcomes further government funding for SAA

New coral species discovered on seabed prized for mining potential

By: Reuters     29th October 2020 Three species of black coral have been discovered on the seabed of the northern Pacific Ocean, an area where several countries have contracts to explore for metals including cobalt and nickel as they race to find new supplies of the key battery elements. The corals were discovered on deep... 

Medium-term budget highlights 

29th October 2020   Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the new fiscal framework presented by Finance Minister Tito Mboweni during his Medium-Term Budget Policy Statement, on Wednesday; what this could mean for public sector wages and South Africa's credit rating;... 

Medium-term budget highlights

BLSA has concerns about South Africa’s debt servicing after medium-term budget speech

By: Marleny Arnoldi     28th October 2020 Business Leadership South Africa (BLSA) has expressed disappointment at Finance Minister Tito Mboweni’s allocation of R10.5-billion to embattled South African Airways in the Medium-Term Budget Policy Statement (MTBPS) that he delivered on October 28. This follows the consultancy advocating for no... 

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Emphasis placed on supplying products to address industry issues

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‘Great opportunity’ to tap Mpumalanga’s grid capacity for just transition – IPP Office

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Eskom's State of the System briefing

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