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Latest News

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.

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... 

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... 

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.

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... 


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... 

Real Economy Report Image
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... 

ANC logo

Sanral cancels R17.5bn in tenders, citing ‘material irregularities’ 

By: Irma Venter     18th May 2022 The board of the South African National Roads Agency Limited (Sanral) has cancelled tenders to the value of R17.47-billion, citing “material irregularities”. The tenders which the Sanral board did not approve are the Mtentu Bridge Wild Coast project, on the N2, valued at R3.4-billion; the... 

Image of the proposed Mtentu bridge on the N2 Wild Coast project
Image of the proposed Mtentu bridge on the N2 Wild Coast project

Turboprop airliner manufacturer announces its plan for a greener new generation design

By: Rebecca Campbell     18th May 2022 European regional turboprop airliner manufacturer ATR announced, on Wednesday, its plans to develop a new, ‘greener’, generation of aircraft, to be called the ATR EVO. The company was planning for these next-generation airliners to become available by 2030. ATR currently manufactured and marketed... 

Collaboration needed to make South African mining globally competitive again – CSIR 

By: Martin Creamer     18th May 2022 Concern about mineral resource scarcity is widespread and, at the same time, many countries, such as Australia, Canada and China, are investing significantly in strengthening their mining-related research, development and innovation (RDI) capabilities. “This makes cost and differentiation... 

Picture supplied.
CSIR CEO Dr Thulani Dlamini

South Africa, Namibia among new African Green Hydrogen Alliance’s founding members

By: Tasneem Bulbulia     18th May 2022 South Africa, Namibia and four other African countries on May 18 formally launched the Africa Green Hydrogen Alliance, with the aim to make the continent a frontrunner in the race to develop green hydrogen, to accelerate the transition away from a reliance on fossil fuels and to shift to new... 

An image showing hydrogen economy building blocks
Six African countries have formally launched the Africa Green Hydrogen Alliance to further the hydrogen economy

Transaction Capital posts 38% increase in interim headline earnings

By: Schalk Burger     18th May 2022 JSE-listed diversified services investment company Transaction Capital has posted a 38% year-on-year increase in core headline earnings to R603-million for the six months ended March 31. Core headline earnings a share increased by 28% year-on-year to 83.7c for the interim period. 

Grindrod and partners create new export route for Botswana coal 

By: Irma Venter     18th May 2022 Grindrod’s Matola terminal at the Port of Maputo says it has welcomed its second coal train from Botswana. The terminal also managed to successfully discharge the 50 wagons using the terminal’s tipplers. The first train arrived at the port in April, marking a milestone for Grindrod’s Mozambican... 

Image of a coal stacker

Grindrod Shipping to sell tanker for $30m

By: Darren Parker     18th May 2022 JSE- and Nasdaq-listed global maritime transportation services company Grindrod Shipping has entered into a contract to sell its 2016-built medium-range product tanker Matuku for $30-million. Grindrod Shipping predominantly owns and operates a diversified fleet of owned and long-term and... 

A docked Grindrod shipping vessel

Nedbank invests in RapidDeploy for rapid response technology for public safety

By: Schalk Burger     18th May 2022 Financial services firm Nedbank has made an equity investment into emergency response technology platform RapidDeploy to deliver life-saving rapid response technology for public safety. The firm notes that investment in such technologies is necessary owing to the antiquated, legacy technology... 

Nampak to post higher interim earnings

By: Marleny Arnoldi     18th May 2022 Packaging group Nampak expects to report headline earnings per share (HEPS) of between 33c and 36.5c for the six months ended March 31. This is an improvement of between 91% and 109% year-on-year, which the company attributes to improved trading conditions and lower net devaluation losses... 

Nampak cans

Lockheed Martin, US Air Force, successfully test hypersonic weapon

By: Rebecca Campbell     18th May 2022 US giant aerospace and defence group Lockheed Martin and the US Air Force (USAF) jointly announced on Tuesday that, together, they had successfully flight-tested a hypersonic weapon. The weapon is designated the AGM-183A Air-launched Rapid Response Weapon (ARRW). For the test flight, the ARRW was... 

An artist’s impression of the ARRW glide body
Photo by Lockheed Martin
An artist’s impression of the ARRW glide body

Pollution killing 9m people a year, Africa hardest hit – study

By: Reuters     18th May 2022 Worsening outdoor air pollution and toxic lead poisoning have kept global deaths from environmental contamination at an estimated nine-million a year since 2015 – countering modest progress made in tackling pollution elsewhere, a team of scientists reported Tuesday. Air pollution from industry... 

Stefanutti reaches settlement in Green Point Stadium civil case

By: Tasneem Bulbulia     18th May 2022 JSE-listed Stefanutti Stocks says it has reached an agreement with the City of Cape Town regarding a civil claim against it, as well as fellow contractors WBHO Construction and Aveng Africa, in relation to the construction of the Green Point Stadium. Although the parties remain confident of their... 

Inflation hits 5.9% for third time in five months, with big hikes in fuel and food

By: News24Wire      18th May 2022 Annual consumer price inflation remained unchanged at 5.9% in April 2022, Statistics SA reported on Wednesday. This is the third time in five months that the rate hit 5.9% - which is close to the Reserve Bank’s upper target rate for inflation of 6%. Consumer inflation last breached 6% in 2017.... 

Grocery shopping

When Africans asked for Covid shots, they didn't get them. Now they don't want them

By: Reuters     18th May 2022 It's noisy inside the Mamprobi clinic in Accra as kids clamber over their mothers while they wait to get their measles vaccines. Outside, an area reserved for Covid-19 shots is empty. A health worker leans back in his chair and scrolls on a tablet. One woman, waiting to get her daughter... 

Land Bank's 2-year lending drought to farmers to end by September, Parliament hears

By: News24Wire      18th May 2022 The Land Bank on Tuesday told Parliament that it would resolve the default on its debt by the end of September, ending a period of two years in which it has not been able to lend to farmers. The "liability solution" – which is the offer it will make to institutions that still hold its listed... 

South African farmland

Aspen’s Covid flop bodes ill for Africa’s vaccine making drive

By: Bloomberg     18th May 2022 Africa’s drive to set up a vaccine industry after being left at the back of the queue in the global scramble for Covid-19 shots has stumbled at the first hurdle. As the omicron variant was spreading through South Africa late last year, the continent’s biggest pharmaceutical company was... 

Covid-19 vaccine vials at Aspen's manufacturing plant in South Africa

Ramaphosa tables fourth part of Zondo report, Parliament to start working on published parts  

By: News24Wire      18th May 2022 President Cyril Ramaphosa tabled the fourth part of the State Capture Inquiry's report with Parliament on Tuesday - and, in a turnaround from the African National Congress's previous stance, affected committees will deal with the published parts of the report. "Parliament confirms receipt of Part... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Nasa and Boeing planning second uncrewed test flight of latter’s spacecraft for this week

By: Rebecca Campbell     18th May 2022 The US National Aeronautics and Space Administration (Nasa) and giant US aerospace group Boeing hoped to launch the latter’s CST-100 Starliner spacecraft on its second uncrewed test flight on Thursday. This demonstration flight would see the CST-100 Starliner fly to and dock at the International... 

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