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Energy features strongly in IDC’s R24bn pipeline as Patel makes ‘go green’ call 

By: Terence Creamer     28th September 2021 The State-owned Industrial Development Corporation (IDC) is aiming to convert a significant portion of a R24-billion investment pipeline into commitments following a steep fall in both approvals and disbursements during its Covid-afflicted 2020/21 financial year. The development finance... 

A photo of IDC CEO TP Nchocho
Photo by Creamer Media's Donna Slater
IDC CEO TP Nchocho

‘Just Transition Transaction’ can unlock fiscal space for South Africa’s low-carbon shift

By: Terence Creamer     Updated 7 hours ago A Just Transition Transaction (JTT) that enables South Africa to secure highly concessional finance from rich countries in return for accelerated decarbonisation would help create the fiscal space required to take such a programme forward, a new Meridian Economics study asserts. Released to... 

Photo of the Komati power station
The transaction is seen as complementing Eskom's own Just Energy Transition Transaction, which is meant to start with repowering and repurposing projects at Komati (pictured)

Unequal access to vaccines a huge risk to a sustained global recovery, says Ramaphosa

By: Yvonne Silaule     28th September 2021 Unequal access to vaccines presents a huge risk to a sustained global recovery and the vaccine business should not be just about profit but about saving lives, President Cyril Ramaphosa said during the opening of the World Trade Organisation (WTO) World Trade Public Forum on September 28. The WTO... 

A photo of President Cyril Ramaphosa
President Cyril Ramaphosa

Toyota Gazoo Racing announces four-car team and new vehicle for Dakar 2022

By: Irma Venter     28th September 2021 Toyota Gazoo Racing will enter a four-car team in the upcoming Dakar Rally, set to start in Saudi Arabia on January 2, 2022.  As was the case this year, the team will be spear-headed by Nasser Al-Attiyah and navigator Mathieu Baumel.  

Image of the Toyota GR DKR Hilux T1+
The Toyota GR DKR Hilux T1+

Engling to depart Mercedes-Benz South Africa, Brand to take over

By: Irma Venter     28th September 2021 Mercedes-Benz South Africa (MBSA) has announced that its CEO and manufacturing executive director, Andreas Engling, will retire on May 1, next year. Engling has been with Mercedes-Benz since 1987, and with MBSA since 2017. 

Image of Mercedes-Benz South Africa (MBSA)  CEO and manufacturing executive director designate Andreas Brand
Andreas Brand

Competition Tribunal approves Imperial’s acquisition of J&J, Greendoor groups 

By: Irma Venter     28th September 2021 The Competition Tribunal has unconditionally approved a deal whereby Imperial Logistics, through its wholly-owned subsidiary, Imperial Capital, will acquire Lift Logistics (J&J Group) and its subsidiary, Greendoor Group. Post-acquisition, Imperial will control J&J Group and Greendoor.   The... 

DTIC entities provide R1bn in support of businesses affected by unrest in KZN, Gauteng

By: Marleny Arnoldi     28th September 2021 The National Empowerment Fund (NEF) and the Industrial Development Corporation (IDC) have approved 77 applications, valued at R1-billion, for businesses in KwaZulu-Natal and Gauteng. These applications, covering 164 affected sites, relate to affected businesses as a result of the civil unrest... 

Grocery shop

Busa committed to helping resolve challenges facing the country 

By: Tasneem Bulbulia     28th September 2021 There are a number of issues concerning the country that Business Unity South Africa (Busa) is currently tacking, CEO Cas Coovadia said during the Consulting Engineers South Africa (Cesa) Infrastructure Indaba 2021, on September 28. Firstly, there is the issue of economic recovery. Coovadia said... 

Initiatives, programmes being pursued to spur infrastructure development

By: Tasneem Bulbulia     28th September 2021 Infrastructure development is a critical component of the country’s economic rebuilding efforts and there are a number of infrastructure investment and development programmes and funding initiatives under way that aim to spur this on, Development Bank of Southern Africa disruption specialist... 

KZN govt launches Provincial Water Master Plan and Borehole Intervention Programme

By: Yvonne Silaule     Updated 7 hours ago The KwaZulu-Natal provincial government has formally launched the Provincial Water Master Plan and Borehole Intervention Programme in the Harry Gwala district municipality, with the aim to improve access to safe and clean water in rural communities. Premier Sihle Zikalala was joined by... 

KZN opens second phase of R20m Tourism Relief Fund

By: Schalk Burger     28th September 2021 Distressed tourism businesses and operators in KwaZulu-Natal will get another chance to apply for financial assistance after the second phase of the R20-million Tourism Relief Fund was opened on September 27, the KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs... 

PPC reaches milestones in its restructuring journey

By: Marleny Arnoldi     28th September 2021 JSE-listed cement manufacturer PPC has provided an update on its restructuring and refinancing project, which has been under way since November 2019. The project is centred on implementing a sustainable capital structure and improving the investment prospects of the group.  

PPC factory in Dwaalboom
PPC factory in Dwaalboom

York Timber swings to record Ebitda in FY21

By: Marleny Arnoldi     28th September 2021 JSE-listed integrated forestry company York Timber Holdings has managed to swing from a loss a share of 69c in the 2020 financial year to earnings a share of 44c in the financial year ended June 30. The company’s earnings before interest, taxes, depreciation and amortisation improved by... 

Wood logs

Barloworld reflects on resilient group performance

By: Schalk Burger     28th September 2021 JSE-listed equipment and services company Barloworld says the group achieved a resilient performance for the 11 months to August 31, in what remains a tough operating environment. The resilient performance was driven by a robust performance from industrial equipment, together with a substantial... 

2Africa now extends to the Arabian Gulf, India and Pakistan

By: Natasha Odendaal     28th September 2021 A new segment has been added to the 2Africa subsea cable system, bringing the total length of the 2Africa cable system to over 45 000 km and making it the longest subsea cable system ever deployed. The new 2Africa PEARLS branch extends to the Arabian Gulf, India and Pakistan, the 2Africa... 

Image of 2Africa Pearl extension

Micro, informal businesses severely impacted on by Covid-19-related restrictions

By: Schalk Burger     28th September 2021 A study undertaken by the Department of Small Business Development (DSBD), in partnership with the United Nations Development Programme (UNDP) in South Africa, on the impact of Covid-19 on micro and informal businesses in South Africa demonstrated the severe negative impact on the micro and... 

Botswana, Namibia outline efforts towards green bonds, sustainable stock exchanges

By: Donna Slater     28th September 2021 After South Africa, Namibia, through its Namibian Stock Exchange, is the second African country to issue a green bond after signing up to the United Nations’ (UN’s) sustainable stock exchanges initiative, said Namibian Stock Exchange CEO Tiaan Bazuin. Speaking during the Southern Africa Green... 

Arise IIP gets carbon neutral certification for Gabon SEZ

By: Marleny Arnoldi     28th September 2021 Pan-African industrial parks developer Arise IIP has been awarded a carbon neutral certification for its Gabon special economic zone (SEZ). The certification provides a transparent third-party assessment of the SEZ’s carbon footprint and offsetting. 

Congo reviews $6.2bn China mining deal as criticism grows

By: Bloomberg     28th September 2021 The Democratic Republic of Congo (DRC) began reviewing a $6.2-billion minerals-for-infrastructure deal with China that’s faced growing criticism since President Felix Tshisekedi came to power almost three years ago. Congo’s council of ministers agreed to create a commission to investigate “major... 

EU trade chief says time running out to fix US steel dispute

By: Bloomberg     28th September 2021 The European Union’s (EU's) trade chief warned that only about a month remains to resolve a metals dispute with the US, and failure to do so means new EU tariffs will hit American products on Dec. 1. “Allowing for internal decision-making procedures in the EU, we really need an agreement already... 

Green Sedibelo will use 82% less electricity to take PGMs all the way to end consumer  

By: Martin Creamer     28th September 2021 Platinum group metals (PGMs) producer Sedibelo Platinum Mines is well on its way to becoming the lowest of low-energy PGM energy users and the highest of high on-site beneficiators of metals that are key in the global fight against climate change. Sedibelo’s technology sensation is the remarkable... 

Pallinghurst managing partner and cofounder Arne Frandsen speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer

South Africa has first quarterly primary surplus in three years

By: Bloomberg     28th September 2021 South Africa recorded its first quarterly primary budget surplus since 2018 in the three months through June, a sign that the National Treasury’s efforts to bring spending in line with revenue are succeeding. The government’s primary balance swung to a surplus of R9.8-billion, or 0.6% of gross... 

South African Rand against the flag

New Mokala manganese mine heading for steady state, solar power 

By: Martin Creamer     28th September 2021 With mining now ramping up, the new Mokala manganese mine in the Northern Cape anticipates being at steady state production by the third quarter of 2021. Once that happens, the mine expects to be producing more than one-million tonnes of manganese ore a year, with an opencast life-of-mine of more... 

Supplied picture of Mokala Manganese
The new Mokala manganese mine is in the Northern Cape.

EPC regulations to support energy efficiency businesses, says Alliance Energy

By: Schalk Burger     27th September 2021 The Energy Performance Certificate (EPC) regulations gazetted by the Department of Mineral Resources and Energy (DMRE) in December 2020 present opportunities for individuals and businesses in the energy sector, including young professionals, entrepreneurs and graduates in the engineering... 

ESG strategies can build trust, drive sustainable value

By: Schalk Burger     27th September 2021 Organisations can help to build trust and deliver sustained outcomes by implementing effective environmental, social and governance (ESG) strategies and stakeholders tend to place more trust in organisations that demonstrate a sustained interest in communities, the environment and good... 

Cape Town container, multipurpose terminals introduce truck booking system 

By: Tasneem Bulbulia     27th September 2021 Introducing a mandatory truck booking system at South Africa’s port terminal operations has yielded benefits that the Cape Town Container Terminal (CTCT) and Cape Town Multipurpose Terminal (CTMPT) will soon enjoy, Transnet Port Terminals says in a statement. “There are many challenges introduced... 

Africa needs $2tr for green manufacturing, McKinsey says

By: Bloomberg     27th September 2021 Africa’s lack of industrial development puts it in a strong position to develop low-carbon manufacturing without the costs of transitioning from fossil fuel-based factories, McKinsey & Co. said. In the process of striving toward net-zero emissions by 2050, the continent could create a net... 

Research body highlights surge in food inflation last month

By: Rebecca Campbell     27th September 2021 Last month saw higher food inflation than expected, the Bureau for Food and Agricultural Policy (BFAP) has reported. South African food inflation came to 6.9% in August (in year-on-year terms), continuing a rising trend that started in February. Last month’s food inflation was 0.2% higher than... 

Immediate introduction of new tariff methodology ‘not feasible’ 

By: Terence Creamer     27th September 2021 State-owned electricity utility Eskom says it is “not feasible” for the National Energy Regulator of South Africa (Nersa) to make a revenue determination, for implementation on April 1 2022, on the basis of a new methodology that has yet to be consulted or finalised. On September 24, Nersa... 

A sign on the door of a Nersa public hearing

CSIR, SAMRC partner with US firm on Covid-19, cancer vaccine development

By: Yvonne Silaule     27th September 2021 NantAfrica, a division of US multinational NantWorks, has signed a collaboration agreement with the Council for Scientific and Industrial Research (CSIR) and the South African Medical Research Council (SAMRC) for the transfer of biologic manufacturing technology for Covid-19 and cancer vaccines... 

UCT’s Mamokgethi Phakeng becomes first Illustrious Visiting Professor at the University of Bristol

By: Thabi Madiba     27th September 2021 University of Cape Town (UCT) Vice-Chancellor Professor Mamokgethi Phakeng has been appointed as Bristol University’s first Bristol Illustrious Visiting Professor to further promote African scholarship and strengthen international relationships. The newly established Bristol Illustrious Visiting... 

Image of UCT Vice-Chancellor Professor Mamokgethi Phakeng
UCT Vice-Chancellor Professor Mamokgethi Phakeng

Nuclear corporation highlights benefits to South Africa of Multipurpose Reactor project

By: Rebecca Campbell     27th September 2021 The South African Nuclear Energy Corporation (Necsa) has highlighted the importance to the country, and indeed the wider world, of the now-authorised programme to construct a new Multipurpose Reactor (MPR). It did so in its statement, issued on Sunday, welcoming the Cabinet’s decision to approve... 

Rand falling prey to global worries fuels South Africa inflation

By: Bloomberg     27th September 2021 The rand is taking a bigger hit than most of its emerging-market peers as an energy crisis and Chinese growth concerns batter the South African currency and worsen the country’s inflation outlook. The currency declined for a second day on Monday to its weakest level in more than a month as oil... 

South African Rand against the flag

Save water while reservoirs recover from Eskom outage, Rand Water urges

By: News24Wire      27th September 2021 Power supply from an Eskom substation, which negatively impacted water production in Gauteng, has since been restored. The power supply interruption, affecting transmission from Snowden substation, was caused by a veld fire on Sunday afternoon. This subsequently impacted Rand Water's Zuikerbosch... 

Water Tap

Peugeot 2008 clinches Car of the Year title

By: Irma Venter     27th September 2021 The Peugeot 2008 sports-utility vehicle (SUV) has been named as the 2021 Car of the Year by the South African Guild of Mobility Journalists (SAGMJ). The Toyota Hilux double-cab bakkie came in second, while the BMW 4 Series took the bronze medal. 

Image of the Peugeot 2008
The Peugeot 2008

Green bonds provide balance to traditional investment vehicles

By: Donna Slater     27th September 2021 Compared with traditional impact investment vehicles, which tend to be private equity, green bonds provide a “nice balance” in achieving a desired investment impact, environment, social and governance (ESG) advisory firm EBS Advisory CEO James Brice said during the Southern Africa Green Bonds... 

Southern African airlines body appoints its new CEO

By: Rebecca Campbell     27th September 2021 The Airlines Association of Southern Africa (AASA) announced on Monday that it had appointed a new CEO. He is industry veteran Aaron Munetsi and he replaces Wrenelle Stander, who is moving to Western Cape provincial tourism and economic development agency Westgro. Munetsi takes over with... 

South African Treasury trumpets stability as key official exits

By: Bloomberg     27th September 2021 The South African National Treasury’s succession planning is sufficient to ensure the exit of key personnel doesn’t disrupt plans to return public finances to a sustainable path, its top civil servant said. Tshepiso Moahloli, the head of assets and liability management and the most high-profile... 

Treasury Director-General Dondo Mogajane
Treasury Director-General Dondo Mogajane

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