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Nersa gears up to release consultation paper on Eskom’s latest revenue application 

By: Terence Creamer     6th December 2021 The National Energy Regulator of South Africa (Nersa) will release a consultation paper on December 8 alongside Eskom’s fifth multiyear price determination application (MYPD5), which covers the three financial years from 2022/23 to 2024/25. The paper, which is currently being finalised, will... 

Nersa logo

Energy Regulator approves five LNG storage licences for DNG Energy 

By: Terence Creamer     6th December 2021 The Energy Regulator has approved five site licences for the importation and storage of liquefied natural gas (LNG) by black-owned energy company DNG Energy. The Energy Regulator approved the site licences, along with the licence conditions and reasons for decision, at its meeting on December 6,... 

A DNG Energy container on a truck

South Africa needs to improve its ability to receive large container vessels, warns SAAFF 

By: Irma Venter     6th December 2021 A new generation of ultra-large container vessels has been sailing the oceans in recent years. Container ships such as the Madrid Maersk, COSCO Shipping Universe, OOCL Hong Kong and Ever Golden can carry more than 20 000 TEUs (twenty-foot equivalent units). These vessels measure around 400 m in... 

A photo of container ships

The world’s first autonomous, emission-free container ship starts operations 

By: Irma Venter     6th December 2021 The world's first electric and self-propelled container ship – Yara Birkeland – has completed its maiden voyage in the Oslo fjord, Norway. “We are proud to be able to showcase the world's first fully electric and self-propelled container ship,” says Yara CEO Svein Tore Holsether. 

Image of the Yara Birkeland
The Yara Birkeland

National Treasury aware of Eskom’s PFMA concerns but denies long delays in responding

By: Terence Creamer     6th December 2021 The National Treasury says it is aware of Eskom’s concerns regarding the application of the Public Finance Management Act (PFMA) at the power utility and reports that there are ongoing engagements in an effort to address these concerns. The matter, it adds, is still being deliberated on and some... 

The Eskom HQ

Businesses must drive vaccination uptake, BLSA CEO says

By: Tasneem Bulbulia     6th December 2021 Businesses in South Africa must do everything possible to encourage employees and the wider public to get vaccinated, business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso says in her weekly newsletter. “There has obviously been much debate about vaccine mandates.... 

MTN makes Covid-19 vaccines mandatory for its employees

By: News24Wire      6th December 2021 MTN has joined a growing number of South African companies that have implemented a vaccine mandate amid the battle with the fourth wave of Covid-19 and the new Omicron variant.  Africa's largest mobile network operator said that those employees who refuse vaccinations, without a valid reason,... 

MTN logo

Nampak's improved year-end results reflect focus on reducing risk, growing profits

By: Schalk Burger     6th December 2021 JSE-listed packaging manufacturing multinational Nampak achieved headline earnings a share of 62.3c, a 109% year-on-year increase in trading profit to R1.4-billion and a 24% increase in revenue to R14-billion for the financial year ended September 30. These numbers reflect the company's... 

Tiger Brands celebrates centenary

By: Simone Liedtke     6th December 2021 Independent fast-moving consumer goods producer Tiger Brands is celebrating its centenary this year and joins few of the country’s oldest ongoing businesses, with brands in its repertoire such as Jungle Oats, All Gold, KOO, Fatti’s and Moni’s and Black Cat. “We are humbled that, through our... 

Local cannabis group to list on Germany’s FSE

By: Marleny Arnoldi     6th December 2021 JSE-listed cannabis holdings group Labat Africa’s share price on the JSE rose by 56% on Monday after the company announced it had been approved for a listing on the Frankfurt Stock Exchange (FSE). Labat is one of two cannabis businesses listed in South Africa, with a focus on... 

Tongaat reports interim loss, despite progress in turnaround strategy

By: Simone Liedtke     6th December 2021 Agriculture and agroprocessing business Tongaat Hulett has continued to make steady progress in the implementation of its turnaround strategy and in restoring the group on a sustainable growth path. During the six months ended September 30, the group experienced strong local demand across all... 

Garob Wind Farm successfully commissioned

By: Marleny Arnoldi     6th December 2021 The Garob Wind Farm, in the Siyathemba municipality of the Northern Cape, has successfully started commercial operations. The 145 MW facility was awarded to Enel Green Power South Africa in April 2015 as part of Bid Window 4 of the Renewable Energy Independent Power Producer Procurement Programme. 

Gas-powered electricity generation not South Africa’s best bet for the long term –WWF

By: Donna Slater     6th December 2021 The attractiveness of renewable energy, even in the face of using gas as a bridging fuel to take off from where coal is being disused, is continuing to increase, the World Wide Fund for Nature senior climate specialist James Reeler has said. During a webinar titled ‘Fossil gas: decarbonisation... 

FNB/BER Civil Confidence Index falls to 15

By: Marleny Arnoldi     6th December 2021 The majority of respondents to the FNB/Bureau for Economic Research (BER) Civil Confidence Index are dissatisfied with prevailing business conditions, as evidenced by the index slipping to 15 in the fourth quarter. This followed a rise to 17 points during the third quarter of the year.  

Hyprop maintains strong liquidity

By: Tasneem Bulbulia     6th December 2021 Property company Hyprop says it has strengthened its balance sheet since the financial year ended June 30, as a result of asset sales and shareholder reinvestments. It currently holds R1.6-billion of cash and R900-million of unused revolving credit facilities. 

Grindrod reports solid progress in executing various strategies

By: Tasneem Bulbulia     6th December 2021 JSE-listed Grindrod continues to focus its efforts on executing the Port and Terminals, Logistics and Bank strategies and disposal of noncore businesses, it notes in a pre-close business update. Its Port and Terminals segment has reported healthy volume growth with record performances in the... 

OneLogix warns of lower interim earnings as a result of hail damage, July unrest

By: Simone Liedtke     6th December 2021 Logistics company OneLogix’s earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended November 30 are expected to decrease by between 75% and 95%, and 85% and 105%, respectively. This means that EPS will be between 50c and 250c, while HEPS will be between a loss of... 

Italtile weathers challenging trading conditions

By: Tasneem Bulbulia     6th December 2021 JSE-listed Italtile says the trading conditions for the five months to November 30 were challenging, taking account of the ongoing effects of the Covid-19 pandemic, including severe global supply chain disruptions; civil unrest in July; notable price inflation of imported raw materials and... 

ARB receives nonbinding expression of interest

By: Creamer Media Reporter      6th December 2021 JSE-listed ARB Holdings has received a nonbinding expression of interest for the acquisition of a minority shareholding in the company. The possible transaction, if successful, would result in the offeror acquiring all the issued shares in ARB excluding those held by the current controlling... 

SA Future Trust, Raizcorp launch programme to assist with small business development

By: Simone Liedtke     6th December 2021 The South African Future Trust has partnered with business development service Raizcorp to launch Scaffold, a pilot programme focused on developing high growth potential small businesses in the Alexandra and Tembisa townships that operate in the manufacturing sector. Over time, the strategy will... 

Study finds best method for drones to observe elephants with least impact

By: Donna Slater     6th December 2021 Researchers from Stellenbosch University (SU) have been involved in the first ever paper to be published containing practical guidelines and a suggested ethical protocol on how to cause as little disturbance as possible to elephants when flying over them with drones. The paper, in the journal... 

An image of elephants taken with a drone

MTN Group commits to Côte d’Ivoire with new head office, 5G trial

By: Creamer Media Reporter      6th December 2021 Telecommunications giant MTN Group has started the construction of headquarters for its MTN Côte d’Ivoire operations. The group is also starting a local trial of fifth-generation (5G) services in Abidjan. 

Eurasian Resources, Sber create ESG Alliance

By: Tasneem Bulbulia     6th December 2021 Diversified natural resources group Eurasian Resources Group (ERG) has joined the first conference by Russian bank Sberbank (Sber) to establish the environmental, social and governance (ESG) Alliance. The alliance will aim to facilitate the transition to sustainable economic development by... 

Glencore targeting recycling step change  

By: Martin Creamer     6th December 2021 The goals of the Paris Agreement on climate change are best achieved through the circular economy, says diversified mining and marketing company Glencore, which sees recycling as being a significant means for relieving the growing burden that global decarbonisation is set to place on finite raw... 

Glencore 2021 investor update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

NCCC to convene to assess Omicron variant situation 

By: Thabi Madiba     6th December 2021 President Cyril Ramaphosa said on Monday while it is not yet known what impact the Omicron variant will have on hospital admissions government has been preparing hospitals to admit more patients. He said government is also investigating how it can quickly secure medication for treating Covid-19.... 

Image of President Cyril Ramaphosa
President Cyril Ramaphosa

Old Mutual Private Equity makes formal proposal for Long4Life buyout

By: Schalk Burger     3rd December 2021 JSE-listed diversified investment management company Long4Life has received a formal proposal from Old Mutual Private Equity (OMPE) in relation to its proposed acquisition of all of the issued shares in Long4Life. The proposed transaction contemplates a cash offer by OMPE to acquire all of the... 

DNG Energy commits to catalyse growth in commercial LNG 

By: Marleny Arnoldi     3rd December 2021 Liquefied natural gas (LNG) supplier DNG Energy on December 3 announced its official entry into the South African market, after receiving its first gas shipment from the Netherlands at its plant in Germiston last week. The company is targeting the supply of LNG as an alternative fuel to diesel,... 

A DNG Energy truck

Exploration debate highlights Nema challenge  

By: Martin Creamer     3rd December 2021 The withdrawal of a portion of the National Environmental Management Act (Nema) has created a major challenge for mineral exploration in South Africa, the Industrial Development Corporation (IDC) co-sponsored exploration webinar heard on Thursday. Taking part in the panel discussion under... 

IDC co-sponsored webinar covered by Mining Weekly.

South Africa’s environment department rejects floating gas plant

By: Bloomberg     3rd December 2021 South Africa’s Environment Department has turned down an application to moor a floating, gas-fired power plant in the eastern port of Richards Bay. Anchor Energy LNG’s Nseleni power plant would have had the capability to produce 6 500 MW of electricity, according to Groundwork, an environmental... 

Nersa ordered by court to decide Eskom’s 2022/23 tariff by Feb 25 

By: Terence Creamer     3rd December 2021 Judge Jody Kollapen has ordered that Eskom’s revenue application for the 2022/23 financial year be decided by the National Energy Regulator of South Africa (Nersa) by February 25 and that it be adjudicated in line with the multiyear pricing determination (MYPD) methodology published in 2016. The... 

Eskom presenting at a previous revenue application hearing
Photo by Creamer Media
Eskom presenting at a previous revenue application hearing

Opinion: How can we ensure that Africa’s energy transition aligns with its development ambitions?

3rd December 2021 In this opinion article, SPEAR Capital partner Martin Soderberg writes about how African can achieve a just energy transition. 

SPEAR Capital partner Martin Soderberg

Joburg maintains position, Cape Town drops four places in Kearney Global Cities Report

By: Schalk Burger     3rd December 2021 Of the 13 African cities included in management consulting multinational Kearney's 'Global Cities 2021' report, Johannesburg retained the highest ranking at 55, while Cairo climbed five places to 59. Cape Town, however, ranked seventy-seventh last year but dropped four places to 81 in the latest... 

Bedfordview power restored ahead of schedule

By: Schalk Burger     3rd December 2021 Power utility Eskom has restored supply to the Bedfordview substation, two days ahead of schedule. Supply was restored to the substation and affected customers at about 22:00 on December 2. 

N3 Van Reenen's blockade holds trucking industry hostage, RFA says

By: Schalk Burger     3rd December 2021 The transport and logistics industry is being held captive, as the vital N3 route between the Port of Durban and the interior has been blocked again, with violence and looting having occurred, according to some reports, industry organisation the Road Freight Association's (RFA's) CEO Gavin Kelly... 

Trucks driving on the N3

Labour Court postpones deadline for Denel to comply with employee contractual obligations again

By: Simone Liedtke     3rd December 2021 Defence company Denel has again failed to comply with a Labour Court order, handed down on August 4, 2020, compelling the enterprise to honour all outstanding contractual obligations with Uasa members, the trade union said. Uasa spokesperson Abigail Moyo said the trade union was “disappointed”... 

Ramaphosa reappoints four members of Information Regulator for five-year term

By: Schalk Burger     3rd December 2021 President Cyril Ramaphosa has reappointed advocate Pansy Tlakula as chairperson of the Information Regulator. Advocate Lebogang Stroom-Nzama and Advocate Collen Weapond have also been reappointed as full-time members of the Information Regulator. 

Shell can proceed with seismic survey after environmental groups lose urgent court bid

By: News24Wire      3rd December 2021 The high court has dismissed an urgent application to block Shell from proceeding with a seismic survey off the Eastern Cape coast. The ruling was delivered by Judge Avinash Govindjee at the Eastern Cape Division of the Makhanda High Court on Wednesday. Earlier this week, four environmental and... 

Shell logo

UJ implements mandatory vaccination  

By: Sashnee Moodley     3rd December 2021 The University of Johannesburg announced on Friday its decision to institute mandatory vaccination at all its campuses and facilities from January 2022. It will consider religious and medical exemptions but stressed that collective rights will take precedence as per Section 36 of the... 

Covid-19 vaccine

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