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Latest News

South African economic outlook uncertain, but possibly positive says Parsons

By: Tasneem Bulbulia     3rd January 2022 The outlook for 2022 globally – medically, economically and politically – is still highly uncertain and, as a small open economy, South Africa is vulnerable to volatility both at a global level and closer to home, North-West University (NWU) Business School economist Professor Raymond Parsons... 

UK and Japan to jointly develop future fighter engine technology demonstrator

By: Rebecca Campbell     3rd January 2022 Shortly before Christmas, on December 22, the UK and Japanese governments announced that the two countries were to jointly develop a jet engine technology demonstrator, as the precursor to a next generation propulsion system to power their respective future fighter aircraft, currently under... 

Invicta to acquire aftermarket heavy-duty diesel engine parts supplier

By: Marleny Arnoldi     3rd January 2022 JSE-listed investment manager Invicta Holdings has entered into an agreement with International Holdings and Investments and KMP Holdings MD Chen Chin Linn to acquire all the share capital of KMP for £12.5-million, or nearly R270-million. KMP is an independent supplier of aftermarket heavy-duty... 

Senior fire safety staff putting together findings on Parliament fire - City of Cape Town

By: News24Wire      3rd January 2022 Senior fire safety staff are putting together their findings after they looked into the cause of the fire that broke out at Parliament in Cape Town on Sunday. Their findings will be handed over to the police, mayco member for safety and security JP Smith said. 

Parliament building

Algeria's Sonatrach to invest $39 billion in 2022 to 2026, CEO says

By: Reuters     3rd January 2022 Algeria will invest $39-billion in its energy sector from 2022 to 2026 to maintain its hydrocarbon output, Sonatrach's CEO Tewfiq Hakkar told state TV ALG24. Of the $39-billion investment, $6-billion will be invested in 2022, Hakkar said. 

Richard Leakey, who found ‘Turkana Boy’ fossil, dies at 77

By: Reuters     3rd January 2022 Richard Leakey, a Kenyan conservationist and paleontologist whose discoveries of fossils including “Turkana Boy” helped transform views on human evolution, has died. He was 77. Kenya’s President Uhuru Kenyatta announced the death and expressed condolences in a statement on Sunday, praising... 

US cuts off Ethiopia, Mali, Guinea from Africa duty-free trade programme

By: Reuters     2nd January 2022 The US on Saturday cut Ethiopia, Mali and Guinea from access to a duty-free trade program, following through on President Joe Biden's threat to do so over alleged human rights violations and recent coups. "The United States today terminated Ethiopia, Mali and Guinea from the Agoa trade preference... 

Suspect arrested in connection with South African parliament fire

By: Reuters     2nd January 2022 A fire at the South African parliament caused extensive damage on Sunday, collapsing the roof and gutting an entire floor in one building and a man in his 50s was arrested in connection with the blaze. The fire broke out in the early morning and authorities said the sprinkler system appeared to... 

A fire at South Africa's Parliament in January 2022

Eskom splits off transmission division 

By: Reuters     20th December 2021 South African power utility Eskom said on Monday it had executed the separation of its transmission division, subject to certain conditions, in line with an end-December deadline set in a restructuring plan. President Cyril Ramaphosa said in 2019 that the debt-laden utility would be split into... 

Eskom logo

Global coal-fired power demand at all-time high, threatening net zero goals

By: Creamer Media Reporter      17th December 2021 Global coal-fired electricity generation is powering towards an all-time high, as the rapid economic recovery of 2021 has pushed up demand faster than low-carbon supplies can keep up, while steeply rising natural gas prices have made coal more competitive, says the International Energy... 

Global coal-fired power demand at all-time high, threatening net zero goals

Amogy closes funding round, partners with Amazon

By: Mariaan Webb     17th December 2021 Sustainable technology company Amogy has closed a Series A funding round that will enable it to advance its first commercial product for ammonia-powered shipping and other transport applications. Led by hydrogen technologies investor AP Ventures, with new investment from Amazon’s Climate Pledge... 

Zambia hikes fuel prices after removing subsidies on petroleum products

By: Reuters     17th December 2021 Zambia has increased the price of fuel after removing subsidies on petroleum products to reflect the correct price of the commodity, the energy regulator said on Thursday. The pump price of petrol was increased to 21.16 kwacha ($1.29) per litre from 17.62 per litre while diesel price rose to... 

State debt nears 100% of estimate for fiscal year

By: Bloomberg     16th December 2021 South African government debt neared 100% of the National Treasury’s forecast for the fiscal year through March 2022 within seven months, heightening the risk that liabilities may overshoot official estimates. Gross debt amounted to R4.2-trillion, or 97.3% of the government’s estimate by October... 

SA to retain 'Level 1' curbs in Omicron fight

By: Reuters     16th December 2021 The National Coronavirus Command Council (NCCC) has retained its lockdown at 'adjusted level 1', or the lowest of a five-tier system of restrictions, in the battle on the Omicron variant, health authorities said on Thursday. In the past few days, South Africa has reported more than 20 000 new... 

Fitch revises SA's outlook to 'stable' on economic recovery

By: Reuters     16th December 2021 Fitch on Wednesday upgraded the outlook on South Africa's long-term foreign-currency issuer default rating to "stable" from "negative", citing a faster-than-expected economic recovery. "A recovery is underway and GDP now seems on track to return to pre-pandemic levels during 2022" Fitch said.... 

An image of Fitch Ratings' signage

Dump diamonds for digital? Botswana bets on tech

By: Reuters     16th December 2021 Every time an aeroplane streaked the sky over Kgomotso Phatsima's village in rural Botswana, she would pause, look up and vow she too would fly high one day. Phatsima has more than kept her promise. Not only did she become one of the country's first female military pilots, the 36-year-old has... 

Law enforcement could be intensified against foreign truck drivers without PDPs - Mbalula

By: News24Wire      16th December 2021 The government is considering implementing laws prohibiting foreign nationals from driving trucks registered in the country without the relevant documents. Transport Minister Fikile Mbalula said the new law would see undocumented truck divers facing the wrath of the law. This after local truck... 

Eskom set to halve FY loss to R9bn, but R392bn debt remains ‘unsustainable’ 

By: Terence Creamer     15th December 2021 State-owned electricity utility Eskom expects to cut its full-year loss to R9.1-billion in 2021/22, from R18.9-billion in 2020/21, but warns that its debt position remains unsustainable despite some positive financial momentum during the six months to September 30, including a reduction in its... 

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

Eskom to release Mpumalanga land to catalyse investments in sub-100 MW renewables projects  

By: Terence Creamer     15th December 2021 Public Enterprises Minister Pravin Gordhan has announced that Eskom is preparing to release land in the coal-rich Mpumalanga province for sub-100 MW distributed electricity projects that can now be built without a licence and wheel electricity through the grid for self-consumption, or for sale to... 

Public Enterprises Minister Pravin Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

MTN announces management changes

By: Creamer Media Reporter      15th December 2021 Telecommunications group MTN has announced a number of management changes in support of its Ambition 2025 strategy to accelerate growth, deleverage debt faster and unlock value. Godfrey Motsa will be step down as the CEO of MTN South Africa (SA) with effect from January 1 and will be succeeded by... 

South Africans say economic divisions greater than racial divisions

By: Schalk Burger     15th December 2021 Among the main obstacles to creating a unified, cohesive and reconciled nation in the wake of South Africa's long history of apartheid and colonialism, 52% of respondents to the 2021 South African Reconciliation Barometer survey said the division between the rich and poor was the largest division... 

Schneider Electric appoints Devan Pillay as Anglophone Africa cluster president

By: Schalk Burger     15th December 2021 Energy management and automation multinational Schneider Electric has appointed Devan Pillay as its Anglophone Africa cluster president. He succeeds Albert Fuchet. 

Ford Wildlife Foundation supports penguin rescue project

By: Tasneem Bulbulia     15th December 2021 The Ford Wildlife Foundation (FWF) has extended its support to nonprofit the Southern African Foundation for the Conservation of Coastal Birds' (SANCCOB's) Penguin Rescue and Rehabilitation project, in Gqeberha, in the Eastern Cape. FWF is funded by the Ford Motor Company of Southern Africa and... 

SANCCOB's Penguin Rescue

PRASA to oppose former CEO's bid to halt termination of his employment

By: Schalk Burger     15th December 2021 The Passenger Rail Agency of South Africa (PRASA) will oppose the "meritless" application by its former Group CEO Zolani Matthews to interdict the termination of his employment, it said on December 15. It confirmed being served with an urgent application to interdict Matthews' already finalised... 

Opinion: A system to drive road safety

15th December 2021 In this opinion article, South African national Roads Agency Limited (Sanral) Engineering for Road Safety lead and project manager for Sanral's Eastern region, covering KwaZulu-Natal and Free State, Jason Lowe writes about the agency's Safe System model. 

Sanral's Jason Lowe

Energy transitioning countries stand to attract major FDI investment, webinar hears 

By: Martin Creamer     15th December 2021 Countries that choose to transition into clean energy stand to attract major foreign direct investment (FDI) flows, as do companies that follow a clear pathway towards decarbonisation responsibly, a global webinar event has emphasised. The timing of the clean energy leapfrog by transitioning... 

Creamer Media screenshot
Wood Mackenzie Metals and Mining webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

REIPPPP Bid Window 5 to provide important link in local value chain

By: Donna Slater     15th December 2021 Wind turbine original-equipment manufacturer (OEM) Nordex Energy South Africa sees Bid Window 5 (BW5) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) as an important link in driving the local value chain, saying it will directly stimulate the domestic job... 

An image of Nordex Energy South Africa's Prieska-based concrete wind turbine tower manufacturing facility
Nordex Energy South Africa's Prieska-based concrete wind turbine tower manufacturing facility

Members of third National Planning Commission announced

By: Creamer Media Reporter      15th December 2021 Minister in the Presidency Mondli Gungubele has been appointed chairperson of the third National Planning Commission (NPC) for a five-year term to 2026. Professor Tinyiko Maluleke will serve as deputy chairperson of the NPC. 

South African State debt nears 100% of estimate for fiscal year 

By: Bloomberg     15th December 2021 South African government debt neared 100% of the National Treasury’s forecast for the fiscal year through March 2022 within seven months, heightening the risk that liabilities may overshoot official estimates. Gross debt amounted to R4.2-trillion, or 97.3% of the government’s estimate by October... 

South Africa inflation reaches 5.5%, highest in almost five years

By: Bloomberg     15th December 2021 South Africa’s inflation rate jumped to the highest level in almost five years in November, underscoring the difficult choice the central bank faces to strike a balance between taming price growth and supporting an economy grappling with the fallout from a fourth wave of coronavirus infections.... 

NAACAM initiative suggests options to improve South Africa’s skills development landscape

By: Simone Liedtke     15th December 2021 The skills development landscape within South Africa’s automotive component manufacturing sector, which has largely been characterised by limited coordination between key stakeholders and the inconsistent implementation of key initiatives, has contributed to growing concerns about the robustness... 

Remgro to list on A2X in early 2022

By: Creamer Media Reporter      15th December 2021 Investment holding company Remgro has been approved for a secondary listing on A2X Markets and its shares will be available for trade on the A2X from January 3. Remgro will retain its primary listing on JSE and its issued share capital will be unaffected by its secondary listing on the A2X. 

DMRE releases Gas Masterplan base case report

By: Donna Slater     15th December 2021 The Department of Mineral Resources and Energy (DMRE) has released the Gas Masterplan base case report for public comment. The Gas Masterplan, once developed, will serve as a policy instrument, providing a roadmap for taking strategic, political and institutional decisions, which will guide... 

Pan African moving to acquire Blyvoor Gold surface resources for R110m 

By: Martin Creamer     15th December 2021 Gold mining company Pan African on Wednesday announced that it had entered into a conditional agreement to acquire Blyvoor Gold Operations for R110-million from Peter Skeat's Blyvoor Gold. The transaction takes in six tailings dumps containing more than 1.4-million ounces of gold, the company... 

Creamer Media photograph
Photo by Creamer Media
Cobus Loots

Tourism industry welcomes removal of Southern African countries from UK travel red list

By: Donna Slater     15th December 2021 The UK government’s lifting of South Africa’s travel red listing, effective from 04:00 on December 15, has been welcomed by the South African tourism and travel industry, which was severely impacted as both South Africans were put off from traveling to the UK and UK citizens were cautioned... 

Durban port decongestion task team to focus on long-term initiatives in the new year

By: Schalk Burger     15th December 2021 The multidisciplinary, multi-stakeholder Port of Durban Decongestion Task Team will focus on rolling out a number of long-term initiatives as more permanent solutions to the ongoing challenges experienced at the port, State-owned ports agency Transnet National Ports Authority (TNPA) said on... 

The Durban Container Terminal

Ellies reports first-half loss in earnings despite load-shedding boom

By: Donna Slater     15th December 2021 JSE-listed diversified electronic and alternative energy products manufacturer and distributor Ellies, impacted by global and local supply chain challenges of the Covid-19 pandemic, the July civil unrest and weak trading conditions, has reported a loss before interest, taxes, depreciation and... 

South Africa records FDI inflows of R558bn in the third quarter

By: Reuters     15th December 2021 South Africa recorded R557.9-billion of foreign direct investment (FDI) inflows in the third quarter of this year versus inflows of R17.4-billion in the second quarter, central bank data showed on Wednesday. The central bank said its December Quarterly Bulletin that the large inflows were due to... 

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