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Covid-19

Global workforce to reach highest level of risk in 2021 – International SOS

By: Simone Liedtke 25th November 2020 The risk to the global workforce has reached its highest level since 2016, according to the findings of International SOS's 'Risk Outlook 2021' report. The outlook reveals findings from the Business Resilience Trends survey of over 1 400 risk professionals across 99 countries, carried out by... →

Surging Covid-linked borrowing costs pose threat to Africa’s energy transition

By: Terence Creamer 24th November 2020 The surge in borrowing costs affecting most African countries in the wake of the economic and fiscal harm that has accompanied the Covid-19 pandemic poses a serious risk to the much-needed recovery in energy investment across the continent, which is set to collapse by 30% in 2020. International... →

IEA executive director Dr Fatih Birol

Cloud-based vaccine management system launched in Africa

By: Sane Dhlamini 24th November 2020 IT giant Oracle and the Tony Blair Institute announced on Tuesday the launch of the cloud-based Oracle Health Management System, which will help African countries manage large-scale vaccination programmes. Ghana, Rwanda and Sierra Leone are the initial users of the system, which will create... →

Wits encouraged by AstraZeneca/Oxford Covid-19 vaccine results

By: Thabi Madiba 23rd November 2020 The University of the Witwatersrand said on Monday it was encouraged by the results of the Coronavirus vaccine jointly-developed by the University of Oxford and British drug group AstraZeneca. An analysis of the Phase 3 arms of the UK and Brazil studies show a 70.4% efficacy, with data from two... →

New investment pledges of R109.6bn unveiled at hybrid investment conference

By: Terence Creamer 18th November 2020 Investment pledges of R109.6-billion were unveiled at the third South African Investment Conference on Wednesday, increasing the total value of commitments made since 2018 to R773.6-billion, or more than 60% of the R1.2-trillion target set by President Cyril Ramaphosa three years ago. Speaking at... →

Ramaphosa stresses South Africa’s gateway-to-Africa role as he seeks to reignite investment amid Covid

By: Terence Creamer 18th November 2020 President Cyril Ramaphosa used the platform of the third South Africa Investment Conference to underline the country’s potential to act a gateway to the African market, as he sought to reignite investor interest in an economy that has been underperforming for more than a decade and has been... →

Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Anglo’s investment commitment to South Africa up R15bn

By: Martin Creamer 18th November 2020 Anglo American is on track to exceed its original investment commitment to South Africa, despite Covid-19 impacts, Mining Weekly can report. At this year’s SA Investment Conference, the London- and Johannesburg-listed diamond, platinum group metals and iron-ore mining company increased its total... →

Anglo American CEO Mark Cutifani

Platinum investment demand rockets on risk and hydrogen – WPIC

By: Martin Creamer 18th November 2020 Platinum investment demand rocketed 291% in the three months to September 30, World Platinum Investment Council (WPIC) reported on Wednesday, when it forecast a third consecutive annual platinum deficit next year on an initial projected 2021 deficit of 224 000 oz. The high third-quarter (Q3)... →

Paul Wilson

Eskom moves to finalise just energy transition framework as shutdown of Grootvlei, Komati and Hendrina draws near

By: Terence Creamer 17th November 2020 State-owned power utility Eskom expects to complete its socioeconomic impact studies by the end of March for the planned shutdown of the Grootvlei, Komati and Hendrina power stations, in Mpumalanga, which are the first of ten coal plants scheduled for decommissioning by 2040. The decommissioning... →

Iata issues guidance for Covid-19 vaccine transport

By: Rebecca Campbell 17th November 2020 Against a background of pharmaceutical companies announcing breakthroughs in the development of vaccines against the Covid-19 disease, the International Air Transport Association (Iata) has issued guidance for the air cargo sector, to ensure that it was ready to handle, transport and distribute... →

Photo by Iata
Iata CEO Alexandre de Juniac

Municipalities have integrated 282 MW of embedded power and see benefits in embracing transition

By: Terence Creamer 16th November 2020 A total of 29 South African municipalities have already approved tariff frameworks for small-scale embedded generation (SSEG), with 282 MW of mostly rooftop solar capacity having be formally integrated into municipal networks, the South African Local Government Association (Salga) reports. The... →

Octodec records reduced income, defers dividend decision to 2021

By: Donna Slater 16th November 2020 Against a weakening economic environment, the sovereign downgrade in March and the Covid-19 pandemic, JSE-listed real estate investment trust Octodec Investments recorded a 22% reduction in distributable income for the financial year ended August 31 and has deferred its decision to declare a... →

B4SA welcomes easing of lockdown restrictions

By: Tasneem Bulbulia 13th November 2020 Business for South Africa (B4SA), the alliance of volunteers formed to support the national response to Covid-19, has welcomed President Cyril Ramaphosa’s announcement about the easing of certain restrictions, which it says bolsters the much-needed efforts to boost and stimulate economic... →

Basa welcomes lifting of restrictions on off-consumption trade of alcohol

By: Tasneem Bulbulia 12th November 2020 Industry organisation the Beer Association of South Africa (Basa) has welcomed the announcement by President Cyril Ramaphosa on November 11 that the restrictions on the off-consumption trade of alcohol would be lifted with effect from 00:01 on November 12, meaning that outlets will once again be... →

New 5G lab unveiled at Tshimologong Innovation Precinct

12th November 2020 Chinese information and communication technology giant Huawei, data-only network operator Rain and the University of the Witwatersrand have partnered to launch South Africa’s first 5G laboratory, located at the Wits Tshimologong Digital Innovation Precinct, in Johannesburg. Natasha Odendaal tells... →

New 5G lab unveiled at Tshimologong Innovation Precinct

Completion of first phase of Kore Potash’s new starter project expected in May

By: Martin Creamer 11th November 2020 The current strategy of Kore Potash is to focus on the Dougou Extension (DX) project, a 400 000 t/y selective solution-mining project in the Republic of Congo (RoC), rather than the considerably larger Kola underground mining project. Kola, as the first project of the AIM-, ASX- and JSE-listed... →

Kore Potash COO Gavin Chamberlain interviewed on potash project by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Covid-19 accelerates energy transitions - PwC

By: Donna Slater 11th November 2020 Assurance, advisory and tax services firm PricewaterhouseCoopers (PwC) reports – through its newly released Africa Oil & Gas Review, titled Energising a New Tomorrow – that the rampant spread of the Covid-19 pandemic globally has resulted in galvanising of commitments to a green energy... →

PwC energy strategy and infrastructure director James Mackay discusses how Covid-19 has sped up developments in the green energy sector.

B4SA proposes alternatives to another hard lockdown in event of a second wave

By: Donna Slater 10th November 2020 To restore and boost investor and consumer confidence in South Africa, Business for South Africa (B4SA) is requesting certainty from government that there will not be another “hard economic lockdown” – such as those of Alert Levels 3 to 5 – in South Africa in the event of a second wave of... →

Renewables display Covid immunity with record 2020 and strong outlook

By: Terence Creamer 10th November 2020 New additions of renewable-energy capacity worldwide will increase to a record level of almost 200 GW this year, shrugging off the demand slump that accompanied the Covid-19 crisis and which negatively affected the demand for fossil fuels. In addition, a new International Energy Agency (IEA)... →

South Africa aims to nail down R664bn in investment pledges at Nov gathering amid Covid-19 ‘shock’

By: Terence Creamer 9th November 2020 The third yearly South Africa Investment Conference (SAIC), which will take place on November 17 and 18, will focus primarily on ensuring the investment pledges of R664-billion made in 2018 and 2019 are not derailed by the Covid-19 pandemic. Government also intends using the platform to... →

Trade, Industry and Competition Minister Ebrahim Patel

Ramaphosa urges holiday vigilance to avoid second wave of virus

By: Sane Dhlamini 9th November 2020 With the festive season fast approaching, President Cyril Ramaphosa has asked for vigilance from South Africans to avoid a possible second wave of the coronavirus. He is expected to address the nation this week with an update on government’s Covid-19 strategy. Health Minister Dr Zweli Mkhize has... →

President Cyril Ramaphosa

Eskom says it needs R23bn more from tariffs in 2021 to remain a going concern

By: Terence Creamer 5th November 2020 State-owned electricity utility Eskom argued on Thursday that it required additional revenue of R23-billion for the upcoming financial year to remain a going concern and told the National Energy Regulator of South Africa (Nersa) that further tariff increases, beyond the 5.22% already approved for... →

Sappi remains resilient despite challenging market conditions

By: Simone Liedtke 5th November 2020 In response to challenging market conditions, largely characterised by the Covid-19 pandemic, paper and pulp company Sappi focused on the preservation of liquidity, lowering costs and reprioritising various strategic actions. Reporting on its results for the financial year ended September 30,... →

Ekurhuleni ready to exchange ideas during World Town Planning Day

By: Sane Dhlamini 5th November 2020 The City of Ekurhuleni will join the world in commemorating World Town Planning Day on November 8, bringing together role-players in the planning fraternity to exchange ideas that improve city planning. This year’s World Planning Day, also known as World Urbanism Day, will be commemorated under... →

Ramaphosa to address South Africans on Covid-19 strategy next week

By: African News Agency 5th November 2020 President Cyril Ramaphosa will next week update South Africans on the government’s response to the Covid-19 pandemic, Minister in the Presidency Jackson Mthembu said on Thursday. Mthembu told a post-Cabinet media briefing Ramaphosa’s address would be preceded by a meeting of the National... →

Wits Basin’s shallow gold reefs to be mined as economic environment creates huge tailwind

By: Martin Creamer 4th November 2020 New mid-tier gold aspirant Shallow Reefs Gold is in the process of being built in South Africa to mine the shallow reefs of South Africa’s historic Witwatersrand Gold Basin. Shallow Reefs Gold has former Mineral Resources Minister Susan Shabangu and former Exxaro chairperson Sipho Nkosi on board... →

Shallow Reefs Gold covered by Mining Weekly’s Martin Creamer at Junior Indaba. Video: Darlene Creamer.

Covid-19 accelerates domestic sustainable finance market – Standard Bank

By: Donna Slater 4th November 2020 The Covid-19 pandemic has heightened the focus on climate change and financial instruments that promote sustainable economic development, Standard Bank group CEO Sim Tshabalala noted in the latest episode of the ClimateBiz podcast series hosted by the International Finance Corporation (IFC). In... →

Economic Reconstruction and Recovery Plan presents opportunity to build a better economy, says Saice

By: Donna Slater 4th November 2020 The Economic Reconstruction and Recovery Plan tabled by President Cyril Ramaphosa in October, provides an opportunity to build a better structured economy, reports South African Institution of Civil Engineering CEO Vishaal Lutchman. Following Ramaphosa’s announcement of the plan, Finance Minister... →

French firms set to make R14bn in fresh investment pledges to South Africa

By: Terence Creamer 4th November 2020 French Foreign Trade and Economic Attractiveness Minister Franck Riester, who is leading a business delegation to South Africa this week, reports that French firms will follow-up their R20-billion in investment commitments made to South Africa in 2019 with new promises worth a further... →

Wits develops solution to improve accuracy, safety of Covid-19 testing

By: Tasneem Bulbulia 2nd November 2020 Containing Covid-19 requires testing of individual and isolating those who test positive, together with recent contacts, to prevent further spread and it is therefore critical to ensure that testing is independently verified to assure its accuracy. Given the urgent need to ramp up testing, a team... →

Professor Bavesh Kana

Aspen enters JV for possible manufacture of Covid-19 vaccine candidate in PE

By: Simone Liedtke 2nd November 2020 Aspen subsidiary Pharmacare, which trades as Aspen Pharmacare, has entered into a preliminary agreement with Janssen Pharmaceuticals and Janssen Pharmaceutica for the technical transfer and proposed commercial manufacture of their Covid-19 vaccine candidate, Ad26.COV2-S. The agreement is still... →

Aspen's existing sterile facility in Port Elizabeth.

B4SA calls for TERS benefit to ‘be retained’ under Level 1 lockdown

By: Simone Liedtke 2nd November 2020 Business for South Africa (B4SA) has requested a decision reversal following President Cyril Ramaphosa and the National Coronavirus Command Council’s decision to halt the Covid Temporary Employer/Employee Relief Scheme (TERS) benefit. B4SA says that, “if government believes the remaining Level 1... →

AngloGold’s free cash soars 290%, dividend payout ratio doubled

By: Martin Creamer 2nd November 2020 Gold mining company AngloGold Ashanti on Monday delivered a near fivefold increase in free cash flow in the third quarter of 2020, which has resulted in the company’s adjusted net debt falling to its lowest level in almost a decade and supporting the decision to double its dividend payout ratio.... →

AngloGold Ashanti interim CEO Christine Ramon

Fresh moves under way to address debt albatross at lossmaking Eskom

By: Terence Creamer 30th October 2020 Public Enterprises Minister Pravin Gordhan said on Friday that a “second round” of work is being initiated in an effort to find a solution to Eskom’s unsustainable debt burden in line with the recent social compact between government, community, labour and business to “mobilise funding to address... →

Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Solidarity Fund appoints new CEO

By: Creamer Media Reporter 28th October 2020 The Solidarity Fund has appointed Tandi Nzimande to succeed outgoing CEO Nomkhita Nqweni. Nzimande is a chartered accountant, who started her post articles career as a corporate finance adviser at Deutsche Bank. Following that, she acquired and ran a small business in the postal and courier... →

Tandi Nzimande

Ramaphosa in self-quarantine, not showing Covid-19 symptoms

By: Sane Dhlamini 28th October 2020 President Cyril Ramaphosa will be performing his duties from home after a guest at a fundraising dinner he attended tested positive for the coronavirus. According to The Presidency, Ramaphosa is not displaying symptoms. Ramaphosa is regularly screened by the South African Military Health Service... →

President Cyril Ramaphosa

FDI still most important source of external finance, despite decline in 2020 – Unctad

By: Simone Liedtke 27th October 2020 Global foreign direct investment (FDI) flows decreased by 49% year-on-year in the first half of this year as Covid-19-induced lockdowns around the world slowed existing investment projects and the prospects of a deep recession led multinational enterprises (MNEs) to reassess new projects. In a... →

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Covid-19 SA Dashboard

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