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Liquidity crunch again held up as key impediment to Eskom’s maintenance roll-out 

By: Terence Creamer     7th December 2021 Eskom COO Jan Oberholzer has once again highlighted the utility’s liquidity crunch as a key constraint to the execution of its much-vaunted reliability maintenance programme, which is seen as key to reversing the poor operational performance of its aged coal fleet. The fleet’s energy availability... 

Eskom COO Jan Oberholzer
Photo by Creamer Media's Donna Slater
Eskom COO Jan Oberholzer

PRASA to resume Shosholoza Meyl operations

By: Irma Venter     Updated 4 hours ago The Passenger Rail Agency of South Africa (PRASA) says it is preparing for the resumption of the Shosholoza Meyl long-distance passenger rail service on December 15. The preparatory work follows the termination of the service at the end of March this year owing to Covid-19. 

Image of rail track

Portfolio committee agrees on in-principle terms of reference for RMIPPPP inquiry

By: Donna Slater     Updated 3 hours ago The Portfolio Committee on Mineral Resources and Energy has resolved, in principle, on the terms of reference that will guide an inquiry into allegations of corruption and malfeasance during the process of appointing preferred bidders in the Risk Mitigation Independent Power Producer Procurement... 

November business confidence levels decline

By: Simone Liedtke     Updated 1 hour 44 minutes ago The South African Chamber of Commerce and Industry (Sacci) Business Confidence Index (BCI) declined by 2.1 index points to 92.8 in November, after having recovered slightly to 94.9 index points in October. The improvement in October was mainly driven by greater social stability and favourable... 

Afine lists on JSE as petrol service station Reit

By: Donna Slater     Updated 1 hour 19 minutes ago Afine Investments, which holds a portfolio of income generating immovable properties focused on the petroleum sector in South Africa, plans to list as a real estate investment trust (Reit) on the JSE on December 9.   The company was founded by Peter Todd, with strategic input from Mike Watters –... 

Netcare approved for secondary listing on A2X

By: Schalk Burger     Updated 1 hour 27 minutes ago JSE-listed hospital and healthcare services company Netcare has been approved for a secondary listing on A2X Markets, with its shares to be available for trade on the A2X from December 15. Netcare will retain its primary listing on the JSE and its issued share capital will be unaffected by its... 

GBCSA awards City Industrial Property building with Green Star, Net-Zero Carbon rating

By: Simone Liedtke     Updated 2 hours 11 minutes ago City Industrial Property’s flagship Belville facility and home to City Logistics in Cape Town, has achieved a 4-Star Green Star Custom Industrial rating and a Net-Zero Carbon rating from the Green Building Council South Africa (GBCSA). “City Industrial Property is showing true leadership with... 

Pic of City Industrial Property's facility in Cape Town
City Industrial Property's facility in Cape Town

Deliberate action needed to change market concentration trajectory of South Africa’s economy – study 

By: Simone Liedtke     7th December 2021 An economic concentration study by the Competition Commission has revealed that, once markets are concentrated, they tend to become more concentrated and that more deliberate action is, therefore, required to change the trajectory of the economy. In addition, the report largely found South... 

Pic of business man's hands and a brochure with graphs.

Scatec awarded A-rating by CDP for tackling climate change

By: Donna Slater     Updated 2 hours 4 minutes ago Renewable power producer Scatec has been placed on global environmental nonprofit organisation Carbon Disclosure Project’s (CDP’s) prestigious A-list for its corporate sustainability efforts in tackling climate change The company is among a few high-performing companies out of almost 12 000 that... 

Coal-fired power project commissioned in Senegal

By: Marleny Arnoldi     Updated 1 hour 35 minutes ago The Sendou coal-fired power project has started delivering commercial power to the national grid of Senegal after its successful recommissioning, investment company Barak Fund Management confirms. The project is a partnership between Barak, the Senegalese government and State-owned power... 

Sendou coal project, in Senegal
Sendou coal project, in Senegal

LHDA awards Katse village, lodge upgrade construction tenders

By: Schalk Burger     Updated 1 hour 41 minutes ago Development agency the Lesotho Highlands Development Authority (LHDA) has awarded a M131-million construction contract for upgrades to the Katse Village and increased capacity at Katse Lodge. The Katse Village upgrades contract is the first of four housing construction contracts to be awarded as... 

An artist's impression of the Katse Lodge
An artist's impression of the Katse Lodge

Japanese project successfully identifies new sinkhole risk spots within a city using satellites

By: Rebecca Campbell     Updated 2 hours 5 minutes ago Japanese specialists have used satellite data to detect new locations in Guatemala City, the capital of the Central American state of Guatemala, which are at risk from sinkholes or landslides. The data was collected using synthetic aperture radar (SAR) on satellites developed and operated by... 

Up to 72 000 energy transition jobs could be created in Mpumalanga by 2030, study shows

By: Terence Creamer     Updated 17 minutes ago South Africa’s Mpumalanga province can compensate for a large share of the job losses that will arise in its declining coal sector and lay the foundations for the creation of a new clean-energy hub for the country by scaling up investments in renewable energy and accelerating coal... 

Image showing wind and solar

Third-quarter GDP contracts by 1.5%

By: Tasneem Bulbulia     7th December 2021 South Africa’s gross domestic product (GDP) contracted by 1.5% in the third quarter of the year. Stats SA’s figures show that the trade, catering and accommodation industry decreased by 5.5%, contributing -0.7 of a percentage point to GDP growth. Decreased economic activities were reported for... 

Aircraft technical skills impacted by Covid-19 disruption

By: Donna Slater     7th December 2021 Technical skills needed within the aviation industry have diminished during the Covid-19 pandemic as several air corridors scaled down operations and air traffic generally slowed down in comparison to pre-pandemic levels, aviation solutions company Safomar Aviation CEO Shai Shalem said on... 

Decarbonisation roadmap highlights economic benefits and international support for South Africa

By: Schalk Burger     7th December 2021 Europe-Africa energy cooperation foundation Renewable Energy Solutions for Africa's (Res4Africa's) 'Decarbonisation Roadmap for South Africa' report highlights the economic benefits of modernising and decarbonising the country's economy and demonstrates the broad international financial and... 

Boeing announces establishment of more airliner-to-freighter conversion lines, in China

By: Rebecca Campbell     7th December 2021 US global major aerospace group Boeing announced on Tuesday that it was going to set up two more lines to convert its 737-800 single-aisle airliners into dedicated freighter aircraft (designated 737-800BCF, BCF standing for Boeing Converted Freighter). This is to meet the continuing current... 

Specify energy transition action now, the money’s there for it, UN climate envoy urges  

By: Martin Creamer     7th December 2021 The energy transition is woefully under specified, the United Nations special envoy on climate change action and finance Mark Carney told a global webinar, in which he described the specifying of energy transition action as being “a matter of urgency”. Such specification, the webinar heard,... 

UN Climate Action Finance Envoy Mark Carney covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

First wine grape crop estimate for 2022 looks good – Vinpro

By: Simone Liedtke     7th December 2021 South African wine grape producers expect a good, but somewhat smaller, 2022 wine grape crop following a favourable and healthy season. This according to the first of four crop estimates to be issued by viticulturists and producer cellars, agricultural association Vinpro said on December 7. 

RMB takes equity stake in South African alcohol-free drinks company

By: Simone Liedtke     7th December 2021 Financial services provider Rand Merchant Bank (RMB) has partnered with AB InBev’s corporate venture capital arm ZX Ventures to take an equity stake in alcohol-free South African drinks company The Duchess – creator of the world’s first alcohol-free gin and tonic. Launched in 2016, The Duchess... 

Nedlac to approach Constitutional Court next year over mandatory vaccination 

By: Marleny Arnoldi     7th December 2021 The National Economic Development and Labour Council (Nedlac) would approach the Constitutional Court early next year about proposals to implement mandatory Covid-19 vaccinations. During a keynote address at the twenty-sixth Nedlac Summit, on December 7, Employment and Labour Minister Thulas... 

Employment and Labour Minister Thulas Nxesi
Photo by Creamer Media
Employment and Labour Minister Thulas Nxesi

Global air passenger demand recovery continued in October, but Covid-19 Omicron a threat

By: Rebecca Campbell     7th December 2021 The global representative body of the airline industry, the International Air Transport Association (Iata), has warned that the reimposition of travel bans by governments could threaten the recovery of the sector. These bans were re-established in reaction to the emergence of the Omicron variant... 

Volkswagen includes South African in group of best apprentices

By: Irma Venter     7th December 2021 Volkswagen Group South Africa (VWSA) employee Zintle Mvana has been named one of the best apprentices in the global Volkswagen Group. This is an honour bestowed each year to only a handful of the German car maker’s top young talent across the world.  

Image of VWSA employee Zintle Mvana
Zintle Mvana

Record shipment sets sail from Maputo’s Matola Terminal

By: Irma Venter     7th December 2021 A Cape size vessel, about the length of three soccer fields, last week set sail from Grindrod’s Terminal de Carvão da Matola (TCM), carrying a parcel of 147 545 t of magnetite destined for China.  This is the biggest shipment in the port’s history – a new record since the shipment of 121 000 t in... 

Image of the Matola Terminal at the Port of Maputo
The Matola Terminal

SAAFF opens training academy 

By: Irma Venter     7th December 2021 The South African Association of Freight Forwarders (SAAFF) has opened a training academy (SAAFFTA) in an effort to address the skills shortage in the logistics industry.  “By 2030, demand for skilled workers will outstrip supply, resulting in a global talent shortage of more than 85.2-million... 

Tyme completes $180m capital raise

By: Tasneem Bulbulia     7th December 2021 Digital banking group Tyme has successfully secured investments from China-based internet and technology company Tencent and UK development finance institution CDC to complete its $180-million Series B capital raise. The investments from Tencent and CDC are pegged at an additional $70-million. 

SA economy shrinks by 1.5% in the third quarter  

By: News24Wire      7th December 2021 South Africa's gross domestic product contracted by 1.5% in the third quarter of the year on a quarter-on-quarter seasonally adjudged basis, according to Stats SA. The largest falls were in trade, manufacturing and agriculture. The decline brings to an end a period of tentative growth following a... 

South African Rand and Flag

Tongaat refinances South African debt

By: Tasneem Bulbulia     7th December 2021 JSE-listed Tongaat Hulett has completed the refinancing of its existing South African debt facilities, including its remaining term debt, working capital facilities, a revolving credit facility and overdraft facilities. With the support of the South African lenders, the maturity of the existing... 

Sappi introducers vaccine mandate, majority of employees already vaccinated

By: Tasneem Bulbulia     7th December 2021 Dissolving wood pulp and paper-based solutions provider Sappi says that, as at the beginning of December, over 80% of its almost 5 000 South African employees have received at least one vaccine, while 73% are fully vaccinated. Sappi notes that as soon as it was allowed to open its own... 

Shell faces fresh South African court test over seismic programme

By: Bloomberg     7th December 2021 Royal Dutch Shell faces a fresh legal challenge to its planed seismic survey off South Africa’s eastern coastline with local communities seeking to halt the program. The case, filed last week, comes after a South African High Court on Friday dismissed a request for an interdict from a group... 

Vedanta to support Zambia on green energy transition goals

By: Simone Liedtke     7th December 2021 Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country's first Green Economy and Environment... 

Small harbours repairs programme 94% complete – De Lille

By: Yvonne Silaule     7th December 2021 Public Works and Infrastructure Minister Patricia de Lille this week said she was pleased that the Small Harbours Repairs and Maintenance Programme was 94% complete and on track to be concluded in March 2022. The Minister on December 6 visited the Hermanus harbour to inspect the recent... 

Strike ends at Walmart-owned Massmart after agreement reached

By: Reuters     7th December 2021 Thousands of striking workers at companies under Massmart Holdings in South Africa, which is owned by Walmart Inc, will return to work after reaching an agreement over disputes, a labour union said on Monday. The disgruntled workers had been on strike since Nov.19 over low wages, unilateral... 

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

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... 

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... 

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... 

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... 

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