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State Companies News

Denel braces for more losses, denies 'trading recklessly'

By: Reuters     10th March 2021 South Africa's State weapons manufacturer Denel expects to make further losses in its current financial year, it said in a presentation on Wednesday as its acting chair denied the company was trading "recklessly" at a hearing by lawmakers. Denel makes military equipment for South Africa's armed... 

Eskom to implement Stage 2 load-shedding until Friday night  

By: Creamer Media Reporter      10th March 2021 Power utility Eskom says it will implement Stage 2 load-shedding from 17:00 on Wednesday until 23:00 on Friday as the generation capacity is severely constrained. "There is a probability that load-shedding may be implemented at short notice should any further breakdowns occur before then," it... 

Eskom to implement Stage 2 load-shedding until Friday night

S&P sees Eskom debt solution as key to unlocking restructuring  

By: Terence Creamer     9th March 2021 Ratings agency S&P Global Ratings sees finding a solution to Eskom’s unsustainable debt position as potentially key to meeting the timelines proposed for the broader restructuring of the State-owned utility into three units of generation, transmission and distribution – an unbundling that is also... 

S&P sees Eskom debt solution as key to unlocking restructuring

Denel allowed another extension to try and comply with Court order 

By: Rebecca Campbell     9th March 2021 Financially-beleaguered State-owned defence industrial group Denel has been granted yet another time extension to try and achieve compliance with the Labour Court order of August 4 last year, the Uasa trade union has reported. The Labour Court had then ruled, in a case brought by the union, that... 

Transnet approaching the courts over controversial contracts to procure 1064 locomotives

By: News24Wire      9th March 2021 Transnet officials have worked until midnight to finalise a review application on the controversial contracts related to the procurement of 1064 locomotives, members of Parliament heard. The Standing Committee on Public Accounts (Scopa) on Tuesday was briefed by Transnet officials, including... 

Brian Molefe: I have no regrets that I knew the Guptas

By: News24Wire      9th March 2021 Former Transnet chief executive Brian Molefe insisted before the commission of inquiry into state capture on Monday that he was not betrayed by the Guptas, and challenged those who felt that his relationship with the controversial family was wrong to present evidence of wrongdoing. Molefe was on... 

Brian Molefe: I have no regrets that I knew the Guptas
Photo by Creamer Media
Former Transnet CEO Brian Molefe

Eskom board to initiate probe into racism allegations against De Ruyter 

By: Creamer Media Reporter      9th March 2021 The Eskom board has resolved to initiate an investigation into an allegation of racism made against CEO André de Ruyter, indicating in a statement that an independent senior counsel would be appointed to conduct the probe. The counsel, the board said, would be empowered to interview any person... 

Eskom board to initiate probe into racism allegations against De Ruyter
Photo by Creamer Media's Donna Slater
Eskom CEO André de Ruyter

Saldanha Terminal invests R1.2m in additional dust suppressing canons

By: Simone Liedtke     8th March 2021 The Saldanha Bulk Terminal, in South Africa, has invested R1.2-million in two additional dust-suppressing cannons that will be used on ship loaders as cargo flows from the chutes to the vessel hatch. The investment is said to be a continued commitment to ensuring a clean operation on the West... 

Saldanha Terminal invests R1.2m in additional dust suppressing canons
Dust Suppresor 1

NSFAS still faces funding shortfall, cannot yet accommodate first-time university students 

By: Simone Liedtke     8th March 2021 The National Student Financial Aid Scheme is facing a shortfall on its funding for this year and it has, therefore, been unable to confirm funding eligibility for first-time university students. This does not apply to returning NSFAS beneficiary students who meet the academic and other relevant... 

NSFAS still faces funding shortfall, cannot yet accommodate first-time university students

De Ruyter: Suspension of procurement chief will not hobble department 

By: News24Wire      5th March 2021 Eskom CEO André de Ruyter told Parliament on Friday morning that the suspension of the power utility's chief procurement officer, Solly Tshitangano, will not compromise Eskom's ability to stay on top of its procurement deviations and expansions. Tshitangano was suspended for poor performance. On... 

De Ruyter: Suspension of procurement chief will not hobble department
Photo by Donna Slater
Eskom CEO André de Ruyter

Labour Court dismisses SAA pilots' application for leave to appeal lockout 

By: News24Wire      4th March 2021 The Labour Court has on Thursday dismissed an application by the SAA Pilots Association for leave to appeal a prior judgment in December 2020 which held that the lock-out of the pilots was lawful and protected in terms of the Labour Relations Act. SAAPA members have been locked out since 18... 

Labour Court dismisses SAA pilots' application for leave to appeal lockout

'Unwarranted attacks' against Eskom could distract management from getting it back on track

By: News24Wire      4th March 2021 The Eskom board has claimed that a number of allegations made in the public and media, including against its CEO Andre de Ruyter, are aiming to influence internal operations and good governance processes at the state power utility.   These allegations and what the board regards as accompanying... 

Suspended Eskom procurement chief raises allegations against De Ruyter in letter to MPs 

By: News24Wire      3rd March 2021 The Standing Committee on Public Accounts has received a letter from Eskom's suspended chief procurement officer Solly Tshitangano which levels allegations against CEO André de Ruyter. As a result the committee decided not to proceed with a scheduled meeting on Wednesday, in which it was to be... 

Suspended Eskom procurement chief raises allegations against De Ruyter in letter to MPs
Photo by Donna Slater
Eskom CEO André de Ruyter

Denel board exits linked to lack of budget funds, official says

By: Reuters     3rd March 2021 A series of recent resignations from the board of directors of South Africa's state-owned defence company Denel is linked to funding not being made available in the government's 2021 budget, a senior official told Reuters on Wednesday. "There were expectations from the board that there will be... 

Mantashe sees new industries emerging from South Africa’s renewables-led drive to boost electricity supply 

By: Terence Creamer     3rd March 2021 South Africa’s move to increase electricity generation capacity provided a “unique opportunity” for the development of new industries, Mineral Resources and Energy Minister Gwede Mantashe said this week. Addressing delegates virtually during Canada’s annual Prospectors and Developers Association... 

Mantashe sees new industries emerging from South Africa’s renewables-led drive to boost electricity supply
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Glencore 'used relationship' with Ramaphosa to 'extort' Eskom, former CEO Brian Molefe claims 

By: News24Wire      2nd March 2021 Former Eskom CEO Brian Molefe has told the State Capture Inquiry that Glencore used its relationship with President Cyril Ramaphosa, who used to be the chairperson of its Optimum coal mine, to try to extort money from the power utility as it renegotiated the terms of its contract. Optimum, which... 

Glencore 'used relationship' with Ramaphosa to 'extort' Eskom, former CEO Brian Molefe claims
Photo by Creamer Media
Former Eskom CEO Brian Molefe

Labour Court rules dismissal of top Prasa executives was unlawful

By: News24Wire      2nd March 2021 The Labour Court in Johannesburg handed judgment on Tuesday declaring the termination of employment of three Passenger Rail Agency of South Africa's executives unlawful. They are former chief operating officer Nkosinathi Khena, former executive for risk and legal compliance Onica Ngoye and former... 

Labour Court rules dismissal of top Prasa executives was unlawful

Denel finance chief quits

By: News24Wire      2nd March 2021 South African State-owned defence company Denel said on Monday that CFO Carmen le Grange had resigned, extending a recent string of resignations that have deepened a crisis at the struggling firm. Last week, Fin24 reported that the company's chief operating officer William Hlakoane was appointed... 

Nersa approves Transnet petroleum tariff

By: Simone Liedtke     1st March 2021 The National Energy Regulator of South Africa (Nersa) has set the Petroleum Pipelines System tariff, which will allow State-owned rail entity Transnet to realise an 11.15% decrease in allowable revenue (AR) compared with the 2020/21 tariff period. However, owing to a forecasted reduction in the... 

Eskom bondholders take comfort from guarantee amid rescue talks

By: Bloomberg     1st March 2021 Bondholders of South Africa’s state-owned electricity company are watching the latest round of rescue talks from a distance. Yields suggest they’re confident their money is safe, whether or not the discussions result in a sustainable solution for Eskom Holdings' $32-billion debt pile. Eskom’s... 

No real growth without fixing structural impediments first – Econometrix 

By: Irma Venter     26th February 2021 “The only way out of our economic dilemma is to get this economy to grow faster,” says Econometrix chief economist Dr Azar Jammine. “And, in order to achieve that, we need to address the key structural impediments that have been holding back our economic growth performance.” 

No real growth without fixing structural impediments first – Econometrix

DPE defends SAA vaccine flight to Brussels

By: Rebecca Campbell     26th February 2021 The Department of Public Enterprises has defended the recent flight by a South African Airways aircraft to Brussels, in Belgium, to collect anti-Covid-19 vaccines. State-owned SAA is currently undergoing a controversial business rescue process. The flight was funded by the South African... 

Eskom suspends chief procurement officer over 'non-performance in procurement savings'  

By: News24Wire      26th February 2021 Eskom has suspended its chief procurement officer, Solly Tshitangano, and will be instituting disciplinary action against him, following allegations of poor performance over the last year. Andre de Ruyter, Eskom's group chief executive officer, confirmed to News24 that Tshitangano had been... 

Eskom suspends chief procurement officer over 'non-performance in procurement savings'
Photo by Donna Slater
Eskom CEO Andre de Ruyter

Denel says two more board members resign

By: Reuters     26th February 2021 State-owned defence company Denel said on Thursday that two board members, including chairwoman Monhla Hlahla, had resigned, days after it said several other board members had resigned. "The recruitment process of the chairperson is underway and the appointment will be communicated to all... 

Manufacturing recovery’s slow pace a concern, Seifsa

26th February 2021 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is concerned about the slow pace of recovery in the manufacturing sector, as depicted by the manufacturing Purchasing Managers' Index (PMI) number of 50.9 last month – lower than the 2020 fourth quarter average. 

Manufacturing recovery’s slow pace a concern, Seifsa
MULTIPLIER EFFECT The manufacturing sector remains key to the growth and development of South Africa owing to its multiplier effect on other sectors of the economy

Government commits to improving infrastructure spending 

By: Tasneem Bulbulia     24th February 2021 The 2021 Budget, presented by Finance Minister Tito Mboweni on February 24, outlines that R93.1-billion has been earmarked for economic regulation and infrastructure, from consolidated government expenditure of R2.02-trillion each year over the medium term. To boost infrastructure spending,... 

Eskom Kusile R745m corruption matter postponed for more than 3 months

By: News24Wire      23rd February 2021 The case against two former Eskom executives who were allegedly involved in a R745-million corruption case at the Kusile power station has been postponed for more than three months.   Former Eskom Group Executive for the Group Capital Division Abram Masango and former contracts manager France... 

NPC underscores importance of developmental State for South Africa  

By: Tasneem Bulbulia     23rd February 2021 South Africa’s challenges of poverty, unemployment and inequality cannot be changed without a capable, professional, ethical and developmental State, speakers noted during a webinar hosted by government agency the National Planning Commission (NPC) on February 23. The NPC envisages a capable and... 

NPC underscores importance of developmental State for South Africa
Dr Pulane Molokwane details what a capable, professional and ethical developmental State entails, as well as the work the National Planning Commission has undertaken in pursuing this.

Unpacking opportunities in Africa’s gas sector

19th February 2021 Africa’s oil and gas potential will grow significantly over the next two decades, driven by population growth, urbanisation and the emergence of a wealthier middle class in Africa, according to the Africa Energy Indaba, which will take place virtually from March 1 to 5. 

Unpacking opportunities in Africa’s gas sector
OPPORTUNITIES GALORE There is no doubt that Africa remains open for exploration by oil and gas companies

Union blasts Denel directors after worker suicides: still no game plan for recovery 

By: Rebecca Campbell     18th February 2021 Trade union Uasa has reacted strongly to two reported suicides by Denel workers earlier this week. The union described the news as “distressing and heart-wrenching”. It accused the State-owned defence industrial group of “simply looking on” while its unpaid or underpaid employees struggled to pay... 

SAA Technical workers still in dark about their future, as they receive partial salaries

By: News24Wire      18th February 2021 While the Department of Public Enterprises (DPE) keenly awaits the completion of the implementation of the business rescue plan of South African Airways (SAA), employees of its subsidiary, SAA Technical (SAAT) are still in the dark about their future, it seems. Unlike SAA, its subsidiaries are... 

R10bn Eskom-Nersa settlement opens way for 15.63% hike on April 1  

By: Terence Creamer     16th February 2021 The National Energy Regulator of South Africa (Nersa) and Eskom have reached an agreement to add R10-billion to Eskom’s allowable revenue in 2021/22, to be recovered through the tariff, pending the outcome of an appeal of a 2020 High Court ruling directing the regulator to immediately add back... 

R10bn Eskom-Nersa settlement opens way for 15.63% hike on April 1

Eskom could launch bidding for repurposing and repowering of Komati within two months  

By: Terence Creamer     16th February 2021 State-owned power utility Eskom is preparing a pioneering request for proposals (RFP) for the repowering and repurposing of the Komati power station, in Mpumalanga, which is among the first four coal plants scheduled for decommissioning in the coming few years. Eskom just energy transition office... 

Eskom could launch bidding for repurposing and repowering of Komati within two months
The Komati power station

Lifting distributed-generation cap ‘one of the easier decisions’ facing government – De Ruyter   

By: Terence Creamer     15th February 2021 Eskom CEO Andre de Ruyter has described the plan, announced by President Cyril Ramaphosa in his State of the Nation (SONA) address, to lift the licence-exemption threshold for distributed-generation plants as “one of the easier decisions” government could make in the near-term to alleviate stress... 

Lifting distributed-generation cap ‘one of the easier decisions’ facing government – De Ruyter
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Zondo blasts 'negligent' former Eskom board over R1.68bn prepayment to Gupta entity

By: News24Wire      11th February 2021 Failure by the 2015 Eskom board to interrogate the submission to authorise a R1.68-billion prepurchase payment to a Gupta-owned company cast doubt on the directors prudence, with State Capture Commission chairperson Deputy Chief Justice Raymond Zondo going as far as calling them negligent on... 

Eskom to implement Stage 3 load-shedding from 13:00 

By: Creamer Media Reporter      10th February 2021 Power utility Eskom says it will implement Stage 3 load-shedding from 13:00 on February 10 to 06:00 on February 11. This is necessary as the power generation system is still severely constrained as a result of high generation unit breakdowns during the past three days, as well as the need to... 

Eskom to implement Stage 3 load-shedding from 13:00

Green hydrogen and powerfuels could revive ailing PetroSA, unlock green steel and create €160bn export platform   

By: Terence Creamer     9th February 2021 The combination of South Africa’s world-class wind, solar and land resources, its platinum group metals reserves, as well as its historical experience in industrial-scale synthetic-fuel manufacture, position the country strongly for the production of green hydrogen and tradeable synthetic... 

Green hydrogen and powerfuels could revive ailing PetroSA, unlock green steel and create €160bn export platform
Higher Education, Science and Technology Minister Blade Nzimande on South Africa's comparative advantage when it came to the production of renewable hydrogen and green powerfuels.
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