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Eskom sustains 20.5% request despite big updates to cost assumptions 

By: Terence Creamer     18th January 2022 State-owned electricity producer Eskom has submitted major updates to the cost assumptions included in its latest allowable revenue application but has nevertheless sustained its request for a 20.5% tariff hike for its upcoming 2022/23 financial year. In a presentation delivered on the second day... 

Eskom's OCGT power station at Atlantis in the Western Cape
Eskom requests more for diesel costs as it lowers EAF assumption for 2022/23 to only 62%

Tongaat defies small investors on R4bn rights issue

By: Bloomberg     Updated 3 hours ago Tongaat Hulett won approval for a R4-billion rights issue to help keep the South African sugar maker afloat, in defiance of small investors who said the move hands too much power to a little-known new backer. The 132-year-old company secured the required support for the discounted fundraising... 

A generic image of sugar

South African inflation nears top of central bank target range

By: Bloomberg     Updated 1 hour 2 minutes ago South Africa’s inflation rate moved closer to the top of the central bank’s target range in December, highlighting the difficult choice between taming price growth and supporting a sluggish economy policy makers will face when deciding on interest rates next week. The annual inflation rate rose... 

SARB to hike rates by 25 bps to 4% on January 27

By: Reuters     Updated 3 hours ago South Africa's Reserve Bank (SARB) will raise interest rates to 4% on January 27 as it continues its hiking cycle amid a pick up in consumer price inflation, a Reuters poll found on Wednesday. Eighteen of 23 economists polled from January 12 to 18 said the central bank would add 25 basis points... 

South African Reserve Bank building

Mbalula hopes to launch digital driving licence renewal system in February

By: News24Wire      Updated 3 hours ago The government says it intends to fix the controversial and unreliable driver's licence system by going digital. Transport Minister Fikile Mbalula has assured motorists that his department will soon launch a new digital licence renewal system. 

Transport Minister Fikile Mbalula
Transport Minister Fikile Mbalula

NPA steps in as Optimum Coal Terminal interdict falls away

By: News24Wire      Updated 1 hour 6 minutes ago The Johannesburg High Court has declined to grant a declaratory order sought by directors of the Gupta-linked Tegeta Exploration and Resources to prevent business rescue practitioners from progressing the rescue of Optimum Coal Terminal. The judgment, handed down on Tuesday, has, however,... 

Hillside Aluminium could get green $0.03c/kWh lifeline by 2030 – Mallinson  

By: Martin Creamer     18th January 2022 It’s all about South Africa focusing attention on the generation and storage of its wonderful African sunshine and prime African wind. It’s all about going hammer and tongs for these three letters, SWS, which stand for solar, wind and storage ­– and eight hours of storage is all we need, which is... 

Energy consultant Clyde Mallinson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Green ammonia team aims for bankable project proposal within 18 months  

By: Marleny Arnoldi     18th January 2022 Since announcing plans to build a green ammonia export plant in Nelson Mandela Bay, the partners behind the project Hive Hydrogen, Built Africa and Afrox subsidiary Linde have witnessed a great deal of interest in this first-of-its-kind undertaking. The R75-billion project heralds a new area for... 

Hive Hydrogen South Africa chairperson Thulani Gcabashe
Hive Hydrogen South Africa chairperson Thulani Gcabashe

30 heavily armed suspects kill Eskom security guard during cable theft incident

By: News24Wire      Updated 1 hour 9 minutes ago An Eskom security officer has been shot dead in Soweto. Around 30 heavily armed suspects shot at the officer and six of his colleagues on Tuesday, 11 January during an alleged attempt to steal copper cable outside the Eskom Klipspruit Customer Network Centre (CNC) in Soweto. 

Investec to offer private bank clients solar-power financing

By: Bloomberg     18th January 2022 Investec plans to offer its private banking clients funding to install solar panels and battery storage systems in homes, bolstering its own green credentials and providing a power solution in a country regularly hit by electricity outages. The offering, which follows a pilot programme for 1 000... 

Global climate action accelerating, presenting commercial opportunities and risks - Boston Consulting

By: Schalk Burger     18th January 2022 Many company leaders underestimate the pace and extent of the change ahead and, as such, climate change early-movers can attract more talent, play in higher-growth segments and save cash and carbon, as well as reduce risk exposure, access cheaper financing and achieve higher shareholder value,... 

Brazil takes first step towards expanding its nuclear generation capacity

By: Rebecca Campbell     18th January 2022 Brazil has begun the process of identifying new sites for new nuclear power plants. The first step was the recent signing of a cooperation agreement between the federal Ministry of Mines and Energy and the Centre for Electric Energy Research (acronymed to Cepel, in Portuguese). Brazil has one of... 

Cyber-risks a major concern for South African, African businesses – Allianz

By: Schalk Burger     18th January 2022 Cyber-risks are the biggest concern for companies globally, in South Africa, Africa, the Middle East and Nigeria in 2022, and the threat of ransomware attacks, data breaches or major information technology outages are of greater concern to companies than business and supply chain disruption,... 

Cybersecurity perception gap remains, public safety threatened as cyberattacks spike – WEF

By: Schalk Burger     18th January 2022 Ransomware attacks increased by 151% in 2021, and there were on average 270 attacks per organisation, or a 31% increase compared with 2020. However, 92% of business executives surveyed say cyber-resilience is integrated into enterprise risk-management strategies, while only 55% of cybersecurity... 

AFC raises $400m syndicated loan for post-pandemic recovery, infrastructure investment

By: Schalk Burger     18th January 2022 Private sector-led infrastructure finance provider the Africa Finance Corporation (AFC) has raised $400-million in a syndicated loan to support the post-pandemic recovery through critical development of infrastructure. The proceeds will facilitate upcoming infrastructure projects that address the... 

Japanese multinational shows interest in plastic-to-hydrogen tech development

By: Marleny Arnoldi     18th January 2022 Plastics-to-hydrogen company Hydrogen Utopia International (HUI) has signed a letter of intent (LoI) with Japanese multinational Mitsubishi Heavy Industries whereby the latter will review HIU’s technology and explore commercial opportunities for developing more advanced facilities. HUI is... 

Fortress REIT acquires third logistics asset in Poland

By: Tasneem Bulbulia     18th January 2022 JSE-listed Fortress REIT has acquired its third logistics asset, MDC2 Park Łódź South, located south of Łódź in central Poland. Driven by the demand to supply high-growth western European economies, the first two signature acquisitions in Poland were made in 2020 to deepen and extend the... 

An artist's rendering of Fortress REIT's logistics asset, MDC2 Park Łódź South
Fortress MDC2 Park

Richards Bay Bulk Terminal receives new multi-purpose ship loader

By: Tasneem Bulbulia     18th January 2022 The Richards Bay Bulk Terminal has taken delivery of a new multi-purpose ship loader as part of its capacity creation initiatives. This investment of over R124-million is expected to contribute to improved loading rates at the terminal, as well as to aid in the handling of increased volume... 

An image of Richards Bay Bulk Terminal's new multi-purpose ship loader
New ship loader

UK providing urgent climate crisis aid funding to East Africa

By: Rebecca Campbell     18th January 2022 The UK announced on Monday that it was going to provide a new support package to four East African countries, to help them deal with both extreme drought and flooding conditions. The package, worth £17-million, was announced by British Minister for Africa (roughly equivalent to a Deputy Minister... 

African energy at point of transition to uncertain destination

By: Tasneem Bulbulia     18th January 2022 Buffeted by a historic recession in 2020, sub-Saharan Africa's energy sector and economy experienced a challenging 2021, exacerbated by Covid-19-related complications. Now, the region's economies are rebounding and, spurred by the global energy transition, governments are decarbonising across the... 

Suzuki reports 67% surge in new-vehicle sales in 2021

By: Irma Venter     18th January 2022 Suzuki Auto South Africa (SASA) saw 67% growth in new-vehicle sales in 2021 as it delivered 27 583 new vehicles to customers, the highest on record for the local arm of the Japanese car manufacturer. SASA reported new-vehicle sales of 16 527 units for 2020. The same year also saw SASA breach the... 

Image of Suzuki products

Polihali Village and visitors’ lodge construction kicks off

By: Natasha Odendaal     18th January 2022 The construction of permanent housing, visitors’ lodge and associated infrastructure at the Polihali Village is set to start in January after the Lesotho Highlands Development Authority (LHDA) awarded the construction tender to the Polihali Village Joint Venture (JV) in December 2021.... 

Calls for renewables rises as scrutiny increases on corporate power use – Wood Mackenzie

By: Tasneem Bulbulia     18th January 2022 Flush with opportunity and the capital needed to move investment and merger and acquisition (M&A) strategies forward as the rush to decarbonise the global energy system heightens, corporate power and renewables companies need to prepare for rising near-term risk, says consultancy group Wood... 

Rothschild hired by Eskom’s creditors to help steer debt revamp

By: Bloomberg     18th January 2022 Eskom creditors started working with financial advisory firm Rothschild & Co. as South Africa’s struggling power utility prepares a long-awaited reorganization aimed at returning it to profit and lightening its debt load. Bondholders are forming a common front to protect their interests as the... 

Eskom logo

Govt to appeal high court ruling that AARTO Act is unconstitutional – Mbalula  

By: News24Wire      18th January 2022 Transport Minister Fikile Mbalula has vowed to appeal the court ruling that dismissed the Administrative Adjudication of Road Traffic Offences Act as invalid and unconstitutional. Last week, the Gauteng High Court in Pretoria ruled in favour of OUTA, which challenged the constitutional validity... 

Transport Minister Fikile Mbalula
Transport Minister Fikile Mbalula

Long-term solutions required for continuing supply chain disruptions – Tata Africa boss 

By: Irma Venter     18th January 2022 There is no end in sight for the current supply-chain disruptions affecting truck brands, says Tata International Africa and Tata Africa Holdings MD Len Brand. “These disruptions that will eventually put pressure on vehicle prices, resulting in a negative impact on truck sales.” 

Image of Tata International Africa and Tata Africa Holdings MD Len Brand
Len Brand

Bain quits Business Leadership SA so as to not 'distract' from the group's work  

By: News24Wire      18th January 2022 The disgraced local unit of US management consultancy Bain and Company has voluntarily quit Business Leadership SA over the work it did for the SA Revenue Service at the height of State capture.  In a statement on Tuesday, Bain South Africa said its membership of the business lobby group should... 

Tiger Brands improves BBBEE score to Level 2

By: Schalk Burger     18th January 2022 JSE-listed food products company Tiger Brands has improved its broad-based black economic empowerment (BBBEE) score to Level 2 in 2021 following improvements in several areas across the business, including skills development for unemployed individuals, management control at the board and... 

Vodacom’s acquisition of Vodafone Egypt gets shareholder go-ahead

By: Natasha Odendaal     18th January 2022 Vodacom Group’s proposed acquisition of a 55% stake in Vodafone Egypt has secured shareholder approval. Vodacom minority shareholders overwhelmingly voted in favour of the transaction at a general meeting held on January 18. 

Shipping companies had a $150bn year, economists warn they’re also stoking inflation

By: Bloomberg     18th January 2022 Ocean shipping rates are expected to stay elevated well into 2022, setting up another year of booming profits for global cargo carriers – and leaving smaller companies and their customers from Spain to Sri Lanka paying more for just about everything. The spot rate for a 40-foot container to the... 

Opinion: Localisation – beware unintended consequences

18th January 2022 The growing consensus that localisation is some sort of silver bullet that will solve our economic and job creation woes is misplaced, writes Duferco Steel Processing MD Ludovico Sanges, adding that localisation policy needs to be carefully calibrated to drive economic growth and not simply... 

Duferco Steel Processing MD Ludovico Sanges

V&A Waterfront appoints Antoinette Basson as finance executive manager

By: Schalk Burger     18th January 2022 Mixed-use commercial property company the Victoria and Alfred (V&A) Waterfront has appointed Antoinette Basson as finance executive manager, effective January 10. Basson has more than 26 years' experience, 17 of which have been in the financial services industry. 

V&A Waterfront finance executive manager Antoinette Basson
V&A Waterfront finance executive manager Antoinette Basson

FedEx says air freight an important part of AfCFTA, Africa's economic growth

By: Schalk Burger     18th January 2022 The rapid change in retail and trade networks caused by the global pandemic has highlighted how logistics, and air logistics in particular, is crucial to the economy. Air express also has a role to play in helping drive economic growth in Africa, says logistics and courier services company FedEx... 

FedEx Express sub-Saharan Africa Operations MD Natasha Parmanand
FedEx Express sub-Saharan Africa Operations MD Natasha Parmanand

Comair leveraging Google Cloud to provide seamless travel experiences in sub-Saharan Africa

By: Schalk Burger     18th January 2022 Cloud technology and services provider Google Cloud and sub-Saharan African airline Comair are collaborating to accelerate the aviation group’s digital transformation plans in line with its mission to deliver seamless travel experiences for customers and help the travel industry regain momentum.... 

ISS using Airbus SpaceDataHighway for broadband connectivity

By: Schalk Burger     18th January 2022 Aerospace company Airbus, with the support of the European Space Agency (ESA), developed the Airbus SpaceDataHighway, which provides broadband connectivity services between the International Space Station (ISS) and Earth. The Columbus Ka-band (ColKa) terminal has been installed and fully tested... 

Affordability concerns come to fore as Eskom outlines case for 20.5% hike 

By: Terence Creamer     17th January 2022 State-owned electricity utility Eskom has again insisted that its 2022/23 allowable revenue application, together with already approved regulatory clearing account (RCA) determinations, will translate to a hike of 20.5% in the standard tariff from April 1 if granted in full by the regulator.... 

Eskom CFO Calib Cassim
Photo by Creamer Media's Donna Slater
Eskom CFO Calib Cassim

Green hydrogen best long-term opportunity to decarbonise hard-to-abate carbon emitters – Gungubele 

By: Donna Slater     17th January 2022 Hard-to-abate carbon emissions-intensive sectors – such as heavy-duty transport, aviation, maritime and heavy industries – may be able to reduce their emissions through the use of green hydrogen produced at a deep-water harbour facility in Boegoebaai, 60 km north of Port Nolloth. The Boegoebaai... 

Hydrogen from power graphic

Potential impact of excessive rain on food prices uncertain for now

By: Marleny Arnoldi     17th January 2022 As farmers are exasperated from watching excessive rainfall damage their crops, consumers may also suffer from higher food prices in the near future. However, the exact impact on plantings and crops is yet to be determined.  

Grain in hand

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