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State Companies News

Specialist on course despite pressures

By: Mamaili Mamaila     21st February 2020 Despite the local manufacturing sector being under pressure, mouldered product specialist DEMS’ rubber manufacturing division – which operates within a very niche and specialised market – has not been affected negatively, says DEMS MD Mark Baptie. 

Rubber remains resilient despite strained sector

By: Mamaili Mamaila     21st February 2020 Engineered rubber remains a requirement for many industries notwithstanding local manufacturing industry woes, says rubber products manufacturer Hudson Rubber MD Stoney Steenkamp. 

Rubber remains resilient despite strained sector
RUBBING OFF THE RIGHT WAY The rubber sector will survive the current unfavourable economic climate as the product remains resilient and relevant in the industrial markets

Bleak outlook for rubber SMMEs in 2020

By: Mamaili Mamaila     21st February 2020 With the industrial market aspect of its rubber business having declined in 2019 by 25%, rubber compounding specialist National Rubber Matmin (NRM) MD Mike Stuart says 2020 is “not looking much better”. 

Bleak outlook for rubber SMMEs in 2020
MIKE STUART National Rubber Matmin has had success in supplying products to the Australian mining sector

Inconsistencies between fiscal and other policies resulting in ‘austerity without consolidation’ 

By: Terence Creamer     20th February 2020 Prevailing inconsistencies between fiscal policy and the rest of government policy lay at the heart of the South African government’s current financial crisis and was resulting in “austerity without fiscal consolidation”, University of the Witwatersrand adjunct professor of public economics... 

Inconsistencies between fiscal and other policies resulting in ‘austerity without consolidation’
University of the Witwatersrand adjunct professor of public economics Michael Sachs

'They stole most of the ANC's ideas.' Mboweni attacks EFF leaders

By: News24Wire      20th February 2020 Finance Minister Tito Mboweni took on the Economic Freedom Fighters, tweeting that he championed the concept of a State-owned bank long before "they" did. EFF leader Julius Malema dared President Cyril Ramaphosa to establish a State-owned bank during a State of the Nation debate this week and... 

 'They stole most of the ANC's ideas.' Mboweni attacks EFF leaders
Photo by World Economic Forum/Greg Beadle
Finance Minister Tito Mboweni

'We'll make it happen' : Mantashe says plan for new power utility a 'reality'

By: News24Wire      20th February 2020 Despite President Cyril Ramaphosa not bringing up the establishment of a new power generating entity in his economics-heavy State of the Nation Address, Mineral Resources and Energy Minister Gwede Mantashe says the plan is a "reality". Mantashe on Thursday briefed the media on the energy-related... 

 'We'll make it happen' : Mantashe says plan for new power utility a 'reality'
Mineral Resources and Energy Minister Gwede Mantashe

Eskom to resume rolling blackouts after few days reprieve

By: News24Wire      20th February 2020 South Africa's electricity utility Eskom said on Thursday it would resume rotational power cuts from 9 am after a few days' reprieve and this would likely continue over the weekend. Eskom, which supplies about 95 percent of the country's electricity, has been forced to intermittently apply... 

 Eskom to resume rolling blackouts after few days reprieve

Govt pension fund: It would be wrong to dismiss Eskom bailout proposal without all the facts 

By: News24Wire      19th February 2020 It would be "untoward" of the Government Employees Pension Fund to dismiss a proposal to bailout debt-laden power utility Eskom without knowing all the facts, MPs heard on Wednesday. The GEPF's Principal Executive Officer, Abel Sithole, and its Head of Corporate Services, Musa Mabesa, briefed... 

Govt pension fund: It would be wrong to dismiss Eskom bailout proposal without all the facts

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence 

By: Terence Creamer     19th February 2020 Mineral Resources and Energy Minister Gwede Mantashe announced on Wednesday that the Section 34 Ministerial Determinations required to give effect to the Integrated Resource Plan 2019 had been finalised and were currently serving before the National Energy Regulator of South Africa in order to... 

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence
Mineral Resources and Energy Minister Gwede Mantashe

Development Bank's R3.5bn bailout of SAA may be depleted by early March – Gordhan 

By: News24Wire      19th February 2020 Minister of Public Enterprises Pravin Gordhan has said that the R3.5-billion in emergency funding that South African Airways received from the State-owned Development Bank of Southern Africa earlier in the year may be depleted by early March. Gordhan was addressing a joint sitting of Parliament's... 

Development Bank's R3.5bn bailout of SAA may be depleted by early March – Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

New Concor chief sees surge in issuance of large tenders as sign of possible construction turnaround 

By: Terence Creamer     19th February 2020 Newly appointed Concor CEO Lucas Tseki believes the strong flow of tenders in the last quarter of 2019 could signal that the domestic construction market is finally bottoming out. He is also cautiously optimistic that infrastructure-focused departments and State-owned enterprises (SOEs) are, at... 

New Concor chief sees surge in issuance of large tenders as sign of possible construction turnaround
Concor CEO Lucas Tseki

Eskom asks customers to reduce demand as likelihood of power cuts grows

By: News24Wire      19th February 2020 Eskom has warned of an increased possibility of power cuts later on Wednesday after it lost additional generation capacity due to unplanned breakdowns at some of its power plants.  While the utility is not currently implementing load-shedding, it urged customers to keep reducing demand and use... 

 Eskom asks customers to reduce demand as likelihood of power cuts grows

'Speeding' Shosholoza Meyl stopped in its tracks following fatal crash

By: News24Wire      19th February 2020 The Shosholoza Meyl, a long-distance train service operated by the Passenger Rail Agency of South Africa (PRASA), has been ordered to stop operating with immediate effect. This follows a fatal train crash on February 12, which left one man dead and several others injured when a goods and... 

'Speeding' Shosholoza Meyl stopped in its tracks following fatal crash

Eskom CEO says it wants hand in negotiating IPP pricing 

By: African News Agency      18th February 2020 Eskom wants to play a role in negotiating the price at which new and existing independent power producers sell electricity to the embattled utility, CEO Andre de Ruyter told MPs on Tuesday, "It is very important that [with] the roll-out of the new IPP programme that Eskom, as the ultimate buyer... 

 Eskom CEO says it wants hand in negotiating IPP pricing
Photo by Donna Slater
Eskom CEO Andre de Ruyter

South Africa’s ‘Energy War Room’ to meet for first time

By: , Bloomberg     18th February 2020 South Africa’s Energy War Room, a grouping of the main cabinet ministers responsible for the power industry, will meet for the first time this week since being reconstituted by President Cyril Ramaphosa in December as the country battles an electricity crisis that’s stalling economic growth. The... 

Eskom needs cash injection to avoid debt crisis – CEO

By: Reuters     18th February 2020 Ailing power utility Eskom urgently needs more cash to stabilise its ballooning debt pile with the funds coming from a rise in tariffs or new equity, new CE Andre de Ruyter told lawmakers on Tuesday. Eskom, which supplies 90% of South Africa's power but has struggled to meet demand, had a bid for... 

Eskom needs cash injection to avoid debt crisis – CEO
Eskom CEO Andre de Ruyter

No power cuts planned for Tuesday, says Eskom

By: News24Wire      18th February 2020 Eskom says it is not planning to implement power cuts on Tuesday.  In a power update on Tuesday morning, the power utility said that additional generating units had returned to service and its emergency reserves were at adequate levels.  

 No power cuts planned for Tuesday, says Eskom

Mboweni moots referendum on rescuing State-owned companies on Twitter

By: African News Agency      17th February 2020 After a short hiatus from Twitter, Finance Minister Tito Mboweni is once again posting prolifically, using the platform at the weekend to call for a public debate, possibly a referendum, on the use of taxpayers' money to bail out failing State-owned enterprises. "We must develop a democratic... 

Mboweni moots referendum on rescuing State-owned companies on Twitter
Finance Minister Tito Mboweni

No load-shedding planned for Monday, says Eskom

By: News24Wire      17th February 2020 Eskom says it is not planning to implement power cuts on Monday, after it replenished its emergency reserves of water and diesel over the weekend.  This comes after the power utility halted stage 2 load-shedding ahead of schedule at 9 pm on Sunday. The prognosis for the week ahead is that the... 

 No load-shedding planned for Monday, says Eskom

Flight Centre resumes sales of SAA tickets

By: , Bloomberg     14th February 2020 Flight Centre Travel Group, one of South Africa’s largest booking companies, said it will lift a moratorium on sales of the national airline’s tickets that it imposed in November because of concerns over its solvency. Travel Insurance Consultants, Flight Centre’s preferred insurer, reinstated... 

Renewables bodies call for clear timelines after Ramaphosa commits to restarting IPP procurement

By: Terence Creamer     14th February 2020 South Africa’s wind and solar industry bodies have welcomed President Cyril Ramaphosa’s commitment, made in his 2020 State of the Nation Address (SoNA), to restarting the long-delayed Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). However, they have also called on... 

Renewables bodies call for clear timelines after Ramaphosa commits to restarting IPP procurement
South African Wind Energy Association CEO Ntombifuthi Ntuli

SoNA came at ‘crucial time’ says panel 

By: Simone Liedtke     14th February 2020 The 2020 State of the Nation Address (SoNA) came at “a crucial time” for South Africa, which is faced with a stagnated economy defined by challenges such as lack of capacity in State-owned enterprises (SOEs), high unemployment and electricity supply constraints, a panel agreed on Friday morning... 

Court dismisses bid to halt SAA job cuts as airline has not 'contemplated dismissals'  

By: News24Wire      14th February 2020 The Johannesburg Labour Court has dismissed a joint urgent application by the National Union of Metalworkers of South Africa and the South African Cabin Crew Association to halt job cuts at South African Airways, ruling the airline had not contemplated dismissals.  The unions lodged the interdict... 

Court dismisses bid to halt SAA job cuts as airline has not 'contemplated dismissals'

No load-shedding planned for Friday; no news yet for the weekend

By: News24Wire      14th February 2020 Eskom says it is not planning to institute rotational power cuts on Friday as it has seen a "number of improvements in the power system". However, in a statement issued on Thursday afternoon, it did not yet indicate what the outlook might be for the weekend. However, it did ask customers to keep... 

No load-shedding planned for Friday; no news yet for the weekend

Govt to invest R1.4bn to modernise PRASA

By: News24Wire      14th February 2020 South Africa's long-suffering train commuters can soon look forward to a smooth ride. President Cyril Ramaphosa said the government would boost the Passenger Rail Agency of South Africa's (PRASA) rail network by R1.4-billion. 

SoNA: Ramaphosa announces plans to boost power generation ‘outside of Eskom’ 

14th February 2020 Creamer Media’s Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about President Cyril Ramaphosa’s 2020 State of the Nation Address and measures he has proposed for dealing with South Africa’s electricity crisis.   

SoNA: Ramaphosa announces plans to boost power generation ‘outside of Eskom’
SoNA: Ramaphosa announces plans to boost power generation ‘outside of Eskom’

Eskom tests appetite for ‘commercialisation’ of PBMR technologies, assets

By: Rebecca Campbell     14th February 2020 State-owned electricity utility Eskom is seeking to dispose of its Pebble Bed Modular Reactor technology and remaining assets. It recently issued an Expression of Interest (EOI), regarding the “commercialisation of Pebble Bed Modular Reactor SOC [State-Owned Company] Ltd (PBMR), design,... 

Ramaphosa announces far-reaching actions to boost power generation ‘outside of Eskom’ 

By: Terence Creamer     13th February 2020 President Cyril Ramaphosa on Thursday announced far-reaching and practical interventions to address South Africa’s growth- and confidence-sapping electricity crisis, including several steps to “significantly increase generation capacity outside of Eskom”. He also warned, however, that... 

Ramaphosa announces far-reaching actions to boost power generation ‘outside of Eskom’
President Cyril Ramaphosa

SA Express under bankruptcy protection

By: Reuters     13th February 2020 State airline SA Express is under a form of bankruptcy protection known as business rescue, a spokesperson for the airline said on Thursday. Her comments come after SA Express lost a court battle with a contractor, logistics firm Ziegler, earlier this month. 

South Africa poised to add 3.3 GW of wind power by 2024 – GWEC

By: Terence Creamer     13th February 2020 The Global Wind Energy Council (GWEC) is forecasting that South Africa will emerge as the leading wind energy market in Africa and the Middle East over the coming five years, with installations of 3.3 GW by 2024. In a statement released this week, the council reported that only 894 MW of new wind... 

South Africa poised to add 3.3 GW of wind power by 2024 – GWEC

Local airline group Comair experiencing strong business headwinds

By: Rebecca Campbell     13th February 2020 South African private-sector airline group Comair issued, on Thursday, a “Further Trading Statement” on the Johannesburg Stock Exchange’s SENS news service. Comair operates the British Airways in South Africa and Kulula low-cost carrier brands. The Thursday release was a follow-up to a previous... 

Local airline group Comair experiencing strong business headwinds
Photo by Comair
Costing money – Comair’s first Boeing 737 MAX 8, which has been grounded for almost a year now

Union suspects there could be a 'secret plan' to sell SAA 

By: News24Wire      13th February 2020 A key union at South African Airways has said it suspects there may be a "secret plan" to sell the cash-strapped flag carrier and that "someone could be waiting in the wings" to buy the heavily indebted state-owned airline. National spokesperson for the National Union of Metalworkers of South... 

 Union suspects there could be a 'secret plan' to sell SAA

Eskom sets aside R400m for voluntary separation offer to senior employees 

By: Terence Creamer     13th February 2020 Debt-laden State-owned power utility Eskom confirmed on Thursday that it would be offering senior employees voluntary separation packages during March and April in an effort to lower overhead costs. It reiterated, however, that it had no intention of implementing a forced retrenchments programme.... 

Eskom sets aside R400m for voluntary separation offer to senior employees

PIC confirms it has not received proposals about using pensions to aid Eskom

By: Marleny Arnoldi     13th February 2020 The Public Investment Corporation (PIC) on Thursday confirmed that neither it nor any of its clients, including the Government Employees Pension Fund (GEPF), had been consulted about using the GEPF’s financial resources to help alleviate some of State-owned power utility Eskom’s debt. The PIC... 

Eskom to offer voluntary retrenchment packages to some staff

By: News24Wire      13th February 2020 Cash-strapped Eskom will start offering a voluntary retrenchment package to managers in non-core operations, as well as employees over the age of 60 across the group. In a communique sent to all group executives on February 6, Eskom said that the window for applications will open in the third... 

 Eskom to offer voluntary retrenchment packages to some staff

TPT boosts equipment capabilities with R2bn investment

By: Simone Liedtke     13th February 2020 Transnet Port Terminals (TPT) has already invested R2-billion to replace ageing equipment during the 2020 calendar year in response to industry calls for equipment that will improve performance across its operations. The investment included the acquisition of two mobile harbour cranes for the... 

Investigation under way following fatal rail accident in Johannesburg

By: Simone Liedtke     13th February 2020 An investigation is under way to determine the cause of the accident between a Passenger Rail Agency of South Africa (PRASA) Premier Classe passenger train and a stationary Transnet train between the Roodepoort and Horizon Stations, in Johannesburg, on Wednesday evening. The investigation is... 

Investigation under way following fatal rail accident in Johannesburg
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