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‘Almost inconceivable’ cancellation of Sanral projects to lead to ‘major delays’, says Concor CEO 

By: Irma Venter     Updated 1 hour 13 minutes ago The cancellation of R17.47-billion in tenders by the South African National Roads Agency Limited (Sanral), will lead to major delays in the execution of these projects, warns Concor CEO Lucas Tseki. The tenders that the Sanral board cancelled are the Mtentu Bridge Wild Coast project, on the N2,... 

Image of Concor CEO Lucas Tseki
Lucas Tseki

Fanaroff dismisses infrastructure versus localisation dichotomy as ‘factually wrong’ 

By: Terence Creamer     19th May 2022 The “either-or” narrative pitting accelerated infrastructure delivery against localisation has been challenged by Dr Bernie Fanaroff, who played a central role in the development of the Steel Master Plan, which identifies localisation as one of several instruments to be used to revive the... 

Dr Bernie Fanaroff
Photo by Creamer Media's Donna Slater
Dr Bernie Fanaroff

Mantashe open to meeting with opposition to seek short-term solutions to power crisis 

By: Terence Creamer     19th May 2022 Mineral Resources and Energy Minister Gwede Mantashe has described as “constructive” a proposal by the opposition Democratic Alliance for a meeting to discuss short-term solutions to the country’s ongoing load-shedding crisis. In his Budget Vote address, Mantashe outlined the initiatives his... 

Minerals Resources and Energy Minister Gwede Mantashe
Photo by Creamer Media's Donna Slater
Minerals Resources and Energy Minister Gwede Mantashe

Pivot to citizen-owned renewables could save City Power, energy specialist says ahead of indaba 

By: Terence Creamer     19th May 2022 Johannesburg could turn around the lossmaking performance of City Power, end load-shedding and improve the green credentials of its manufacturing industry by purchasing 80% of its wholesale electricity from large-scale, citizen-owned solar and wind plants at a cost below that purchased from Eskom... 

Image of Johannesburg

Manganese mine rail-loading boost being assessed by South32 

By: Martin Creamer     19th May 2022 Diversified mining company South32 is assessing the potential expansion and modernisation of rail loading infrastructure at its Wessels manganese mine in South Africa’s Northern Cape, says South32 CEO Graham Kerr. Kerr, who presented at the Bank of America Global Metals, Mining & Steel Conference... 

Slide screenshot.
Accelerated operational decarbonisation.

Interest rates increased by biggest margin since 2016

By: News24Wire      19th May 2022 The Reserve Bank's monetary policy committee has increased the repo rate by 50 basis points to 4.75%. This is the largest hike since January 2016. Four members of the committee voted for the increase, while one voted for a 25 basis point hike.   

Reserve Bank governor Lesetja Kganyago
Photo by Bloomberg
Reserve Bank governor Lesetja Kganyago

Inclusivity, resiliency focus of South Africa’s tourism sector recovery

By: Natasha Odendaal     19th May 2022 As South Africa rebuilds its Covid-19-devastated tourism sector, focus must be given to the development of an inclusive, resilient and transformed tourism industry and economy. Speaking to media prior to her Budget Vote on Thursday, Tourism Minister Lindiwe Sisulu said that as the Department of... 

CGA calls for Public Enterprises budget to address private sector ownership at ports

By: Marleny Arnoldi     19th May 2022 The Citrus Growers’ Association (CGA) is hoping Public Enterprises Minister Pravin Gordhan will use his 2022/23 budget speech to address the challenges at South Africa's ports. Delays and backlogs at the ports are threatening the longer-term sustainability and profitability of the citrus... 

SA Cangegrowers calls on government to honour Sugar Masterplan commitments

By: Tasneem Bulbulia     19th May 2022 When Minister Ebrahim Patel delivers the budget for the Department of Trade, Industry and Competition (DTIC) on May 20, industry organisation SA Canegrowers says it hopes he will use it as an opportunity to provide an update on government’s action to implement its commitments under the Sugarcane... 

Alexforbes launches new transformation policy

By: Darren Parker     19th May 2022 Financial services company Alexforbes Investments launched its new transformation policy on May 19. The policy launch took place in conjunction with the publication of the company’s new Transformation Survey, which helped inform the policy. 

Alexforbes Investments CEO Ann Leepile
Alexforbes Investments CEO Ann Leepile

Index shows ‘green’ buildings perform better than non-certified ones on every metric

By: Marleny Arnoldi     19th May 2022 Certified green buildings continue to outperform non-certified assets in the commercial property sector, the MSCI South Africa Green Annual Property Index shows. Particularly, certified green, prime and A-grade offices outperformed non-certified assets of a similar quality by 170 basis points... 

Eskom confirms sabotage incidents at Tutuka

By: Creamer Media Reporter      19th May 2022 Power utility Eskom on May 19 confirmed an incident in which a cable was severed at the Tutuka power station this week while the power station was finalising preparations to return Unit 5 to service. "The damage to the cable had the effect of delaying the unit’s return to service by three days,... 

Steel Master Plan presents immediate opportunities for industry, govt

By: Tasneem Bulbulia     19th May 2022 There are a number of opportunities for both government and industry to capitalise on immediately while pursuing the implementation of the Steel Master Plan, speakers agreed during a panel discussion at the Mainstreaming the Steel Master Plan Conference on May 19. Manufacturing Circle executive... 

SA Navy takes delivery of first of 3 locally-made patrol vessels

By: News24Wire      19th May 2022 The South African Navy has taken delivery of the first of three multi-mission inshore patrol vessels at its naval dockyard in Simon's Town, Cape Town. The vessel formed part of Project Biro, which "aims to rejuvenate the South African Navy patrol capability" through the acquisition of the three... 

Afrimat earnings grow on back of normalised volumes, strong iron-ore price 

By: Marleny Arnoldi     19th May 2022 JSE-listed construction materials, industrial minerals and bulk commodities supplier Afrimat performed well in the financial year ended February 28, on the back of favourable iron-ore prices, an expeditious turnaround of the Nkomati anthracite project and a return to normal volumes in both the... 

Afrimat CEO Andries van Heerden
Afrimat CEO Andries van Heerden

Major US airline seeking approval for direct Washington DC to Cape Town route

By: Rebecca Campbell     19th May 2022 On Wednesday, major US carrier United Airlines announced in Chicago, in the US State of Illinois (where it is headquartered), that it had applied to the US Department of Transportation (DOT) for approval to operate three direct flights a week between the US capital, Washington DC, and South... 

Cape Town cruise tourism showing green shoots after two-year lull

By: Marleny Arnoldi     19th May 2022 Tourism promotion agency Wesgro’s Cruise Cape Town project is optimistic about the 2022/23 cruise ship season, which kicks off in October. Wesgro confirms that 104 ship visits have already been booked to dock at the Port of Cape Town, made up of 26 cruise ships, carrying more than 195 000... 

Cruise ship

Tongaat chairperson Von Zeuner steps down

By: Creamer Media Reporter      19th May 2022 Louis von Zeuner has resigned as chairperson of sugar producer Tongaat Hulett, but will remain on the board until June 30 to ensure a smooth handover to interim chairperson David Noko. Noko is lead independent nonexecutive director and will serve as interim chairperson until a successor is... 

Gravitricity, Arup secure grant to develop below-ground hydrogen storage

By: Tasneem Bulbulia     19th May 2022 Edinburgh-based energy storage specialist Gravitricity and global built environment consultancy Arup have secured £300 000 from the UK Department of Business Energy & Industrial Strategy (BEIS) to study the feasibility of storing hydrogen in purpose-built underground shafts. Gravitricity and Arup... 

Rich nations offer debt guarantees on South African climate deal

By: Bloomberg     Updated 26 minutes ago A group of the world’s richest nations offered South Africa debt guarantees as part of a proposed $8.5-billion deal designed to cut the nation’s reliance on coal for power generation, people familiar with the talks said, potentially resolving one sticking point in the negotiations. The guarantees... 

Magazine round up | 20 May 2022 

Updated 3 hours ago A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 20 May 2022

Renault Plans family car that runs on electricity and hydrogen

By: Bloomberg     19th May 2022 Renault is developing a family-sized passenger car that will run on electricity for short drives and hydrogen for longer trips as part of the company’s push into fuel-cell technology. Dubbed Scenic Vision, the vehicle will have a carbon footprint that’s 75% lower than that of a conventional EV... 

Minerals Council backs decision to place Ubank under curatorship

By: Tasneem Bulbulia     19th May 2022 Industry organisation the Minerals Council South Africa says it supports the action taken by the South African Reserve Bank‘s (SARB’s) Prudential Authority to place Ubank under curatorship, positing that it would clear the way to stabilise Ubank, protect depositors and enable the attraction of a... 

E-toll decision is imminent, says Mbalula  

By: News24Wire      19th May 2022 Minister of Transport Fikile Mbalula said the final pronouncement on the funding model of e-tolls is imminent. Mbalula tabled his budget vote for the Department of Transport in Parliament on Wednesday afternoon. This comes amid uncertainty around South African National Roads Agency Limited... 

Transport Minister Fikile Mbalula
Transport Minister Fikile Mbalula

Europe gives another lofty boost to green hydrogen, electrolyser targets

By: Martin Creamer     19th May 2022 The European Commission this week took firm steps to again boost green hydrogen production and electrolyser manufacture amid sharply rising consumption targets. The commission’s latest RePowerEU proposals include the raising of its 2030 renewable hydrogen consumption targets for industry to 75%,... 

Picture from archive.
Renewable hydrogen consumption targets elevated.

SA Weather Service allocated R100m to ensure 'state of the art' forecasts

By: News24Wire      19th May 2022 The South African Weather Service will be allocated R100-million over three years to upgrade its infrastructure with modern radar technology used in detecting severe storms, says Minister of Environment, Forestry and Fisheries Barbara Creecy. The minister tabled her department's budget vote for... 

Forestry, Fisheries and the Environment Minister Barbara Creecy
Photo by Donna Slater
Forestry, Fisheries and the Environment Minister Barbara Creecy

Wind energy industry reaffirms commitment to energy security

By: Tasneem Bulbulia     18th May 2022 As the country once again contends with continued load-shedding, the South African Wind Energy Association (SAWEA) has reaffirmed the sector’s role in contributing to energy security. This is despite the recent announcement of delays to two renewable energy procurement rounds meant to unlock and... 

Emira sells Enyuka shareholding to One Property for R637m

By: Schalk Burger     18th May 2022 JSE-listed real estate investment trust Emira Property Fund will sell its entire 49.9% stake in rural and lower-living standards measure retail property Enyuka Property, which is a joint venture  (JV)with One Property, to its JV partner for R637-million, representing a small premium to book... 

New €6.7m project to build biodiversity knowledge in Southern Africa

By: Tasneem Bulbulia     18th May 2022 This month saw the start of a €6.7-million (about R110-million) spatial biodiversity assessment, prioritisation and planning (SBAPP) project, which is expected to improve environmental planning and monitor the status of indigenous species and ecosystems in four Southern African Development... 

Indluplace posts lower interim revenue, profit, despite improved letting activity

By: Darren Parker     18th May 2022 JSE-listed real estate investment trust (Reit) Indluplace has reported a 4% year-on-year decrease in revenue and a 7% year-on-year decrease in operating profit for the six months ended March 31. The Reit owns a portfolio of 9 220 residential units and 15 549 m2 of associated retail space. The... 

Decision on e-tolls ‘imminent’; scrap metal exports must be banned – Mbalula 

By: Irma Venter     18th May 2022 Transport Minister Fikile Mbalula has yet again promised that a decision on the future of e-tolls in Gauteng is imminent. Delivering his department’s budget vote on Wednesday, he noted that the matter was on Cabinet’s radar, and that a pronouncement would be made once the final decision had been... 

Fikile Mbalula
Fikile Mbalula

Energy crisis requires policy reform to resolve it – Seifsa

By: Tasneem Bulbulia     18th May 2022 The reasons for South Africa’s energy crisis are well known and include the State ignoring the warnings that electricity generation was falling short, maintenance was not being undertaken, the grid having deteriorated to the point of near collapse and corruption being allowed to continue unbated,... 

Libstar seeks to partner with food-focused small businesses

By: Marleny Arnoldi     18th May 2022 Consumer packaged goods manufacturer Libstar is on the lookout for well-established, food-focused small businesses to partner with. The company, through its incubator project Libstar Nova, aims to enrich and scale up the operations of local entrepreneurs that average between R15-million and... 

Conference to deliberate on ways to tackle Africa’s plastic pollution challenge

By: Marleny Arnoldi     18th May 2022 If countries are to avoid drowning in a sea of plastic waste, and unlock benefits of proper waste management, there needs to be an urgent and comprehensive systems response by governments, business, sustainability exports and civil society, says Sustainable Seas Trust’s African Marine Waste... 

Plastics

Drilling of Northam’s Zondereinde No 3 shaft completed 

18th May 2022 Platinum group metals miner Northam last month completed the drilling and reaming of the first shaft of its Number 3 Shaft expansion project. The new shaft, at 1 380 metres deep and 4.8 metres wide, is designed to handle personnel and materials, while two additional shafts will handle... 

Drilling of Northam’s Zondereinde No 3 shaft completed

Creecy offers provinces help to process EIAs for 100 MW embedded projects 

By: Terence Creamer     18th May 2022 Forestry, Fisheries and the Environment Minister Barbara Creecy reports that she has written to provincial environment MECs to enquire whether they require any assistance in processing environmental impact assessments (EIAs) for embedded-generation projects that could help relieve pressure on the... 

Forestry, Fisheries and the Environment Minister Barbara Creecy
Forestry, Fisheries and the Environment Minister Barbara Creecy

Investec Property Fund declares 11% higher dividend for FY22

By: Marleny Arnoldi     18th May 2022 Property firm Investec Property Fund (IPF) has posted a 10.8% increase in distributable income per share (DIPS) of 107.6c for the financial year ended March 31, compared with DIPS of 97.08c in the prior financial year. The company declared a final dividend of 52.46c apiece, adding up to the... 

ANC wants increase in oil, gas exploration, plans to tackle anti-fossil fuel lobby groups 'politically'

By: News24Wire      18th May 2022 As rising fuel costs continue to hit the South African economy, the African National Congress was contemplating pushing for an increase in oil and gas exploration, setting itself up for a fight with anti-fossil fuel lobby groups.  This new policy position is detailed in the ANC's draft discussion... 

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