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State Companies News

SAA business rescue plan amended at urgent meeting 

By: Rebecca Campbell     24th July 2020 In a statement released on Friday, the business rescue practitioners (BRPs) for South African Airways (SAA) announced that 95% of the airline’s creditors with a voting interest, and 95% of its independent creditors (defined by the Companies Act) with a voting interest, had voted to accept... 

Eskom’s gross debt level increases to R480bn

By: Bloomberg     24th July 2020 Eskom Holdings' gross debt surged to R480-billion, after the struggling State-owned power utility borrowed from its lines of credit, documents seen by Bloomberg show. The increase, from a previously disclosed level of R454-billion, comes as the company struggles to meet running costs, including a... 

Concern raised over R1.5bn cut to electrification budget 

By: Terence Creamer     23rd July 2020 Concern continues to be raised over the fact that the biggest cut made to the Department of Minerals Resources and Energy’s 2020/21 budget is for the electrification of poor households, especially in those province with the largest connection backlogs. The cuts, which were signalled in early... 

Concern raised over R1.5bn cut to electrification budget

Eskom suspends operations in other parts of Cape Town following attacks

By: News24Wire      23rd July 2020 Eskom announced it has now suspended operations in other parts of Cape Town following continued attacks on its employees.  Affected areas, where the utility has pulled out of operations, include Bloekombos, Wallacedene, Kraaifontein CBD and Wesbank in Delft, it said in a statement on Wednesday.  

Eskom suspends operations in other parts of Cape Town following attacks

Mboweni says he has no plan to use emergency powers to fund SAA 

By: African News Agency      21st July 2020 Finance Minister Tito Mboweni has said in court papers that he has taken no decision to use emergency powers to avail money from the National Reserves Fund to South African Airways to bankroll its business rescue plan. Mboweni, in an affidavit submitted in response to an urgent court application... 

 Mboweni says he has no plan to use emergency powers to fund SAA

DBSA confirms financing of $120m for giant Mozambique LNG project

By: Terence Creamer     21st July 2020 South Africa’s State-owned Development Bank of Southern Africa (DBSA) has confirmed financing of $120-million for the $20-billion-plus liquefied natural gas (LNG) project being developed by a Total-led consortium in northern Mozambique. On July 17, Total announced the signing of a $14.9-billion... 

DBSA confirms financing of $120m for giant Mozambique LNG project

Denel Group CEO suddenly resigns 

By: Rebecca Campbell     20th July 2020 State-owned defence industrial group Denel announced on Monday that its Group CEO, Danie du Toit, had resigned. Although the group is the country’s largest defence company, it is severe financial difficulties. Denel stated that Du Toit would leave the organisation on August 15. It gave no reason... 

Mboweni wants DA to provide 'evidence' for SAA bailout allegations

By: News24Wire      20th July 2020 Finance Minister Tito Mboweni has hit back at claims by the Democratic Alliance (DA) that National Treasury plans to extend a bailout to help fund the business rescue process of flag carrier South African Airways (SAA). This after the main opposition party announced on Friday that it had filed an... 

Mboweni wants DA to provide 'evidence' for SAA bailout allegations
Finance Minister Tito Mboweni

DA files urgent court application to interdict govt bailout for SAA 

By: News24Wire      17th July 2020 The Democratic Alliance said on Friday it had filed an urgent interdict application at the Pretoria division of the high court to stop the bailout of South African Airways. Finance Minister Tito Mboweni and Public Enterprises Minister Pravin Gordhan have committed the government to making... 

 DA files urgent court application to interdict govt bailout for SAA

Move Eskom debt to State balance sheet, says ex-Goldman head 

By: Bloomberg     16th July 2020 South Africa can fix the balance sheet of its loss-making power utility by transferring its guaranteed debt to the government’s balance sheet, according to the former chief executive officer of Goldman Sachs Group Inc. in sub-Saharan Africa. Seen as the biggest risk to the nation’s economy, Eskom... 

Move Eskom debt to State balance sheet, says ex-Goldman head

Load-shedding returns 

16th July 2020 Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the return of load-shedding, what Eskom is doing to address the situation and how South Africa can move beyond the cycle of power disruptions. 

Load-shedding returns
Load-shedding returns

Gordhan, Mboweni commit in letter to obtain funding for SAA

By: News24Wire      16th July 2020 In a letter sent to the business rescue practitioners of South African Airways (SAA) late on Wednesday evening, Minister of Public Enterprises Pravin Gordhan and Finance Minister Tito Mboweni have committed to obtain funding for the State-owned airline's short, medium and long-term requirements.... 

Gordhan, Mboweni commit in letter to obtain funding for SAA
Public Enterprises Minister Pravin Gordhan

Technical experts from Germany flown in to assist Eskom, help German businesses in SA

By: News24Wire      16th July 2020 A team of German technical experts is expected to touch down in South Africa on Thursday to provide essential services to local German businesses and local entities, such as embattled Eskom.  This agreement is the result of close cooperation between International Relations and Cooperation... 

Technical experts from Germany flown in to assist Eskom, help German businesses in SA

Unions divided on approval of SAA business rescue plan 

By: Rebecca Campbell     15th July 2020 There has been mixed reaction from unions representing employees of South African Airways to the approval of the business rescue plan for the financially-embattled State-owned national flag carrier. The plan was approved by 86% of the airline’s creditors in a vote on Tuesday. The approval of the... 

Public Enterprises welcomes yes vote for SAA rescue plan, announces interim CEO  

By: Rebecca Campbell     14th July 2020 The Department of Public Enterprises (DPE) welcomed the outcome of the creditors’ vote on the proposed business rescue plan for State-owned South African Airways (SAA). The financially beleaguered national flag carrier is under business rescue. In the vote on Tuesday, 86% of the creditors voted... 

Public Enterprises welcomes yes vote for SAA rescue plan, announces interim CEO

New Transnet Port Terminals chief on his ‘baptism of fire’

By: Terence Creamer     14th July 2020 Newly appointed Transnet Port Terminals (TPT) CEO Velile Dube, who officially assumed the role on July 1, acknowledges that his first few weeks were nothing short of a “baptism of fire”. The experience proved challenging not because Dube was new to TPT, or the broader Transnet group for that... 

New Transnet Port Terminals chief on his ‘baptism of fire’
Transnet Port Terminals CEO Velile Dube

Pilots trying to squeeze SAA dry, says government ahead of crucial creditors vote

By: News24Wire      14th July 2020 The Department of Public Enterprises (DPE) has accused the South African Airways Pilots Association (SAAPA) of trying "to squeeze the last resources out" of South African Airways ahead of a crucial vote by creditors of the airline on a proposed business rescue plan, scheduled for Tuesday. A vote... 

Pilots trying to squeeze SAA dry, says government ahead of crucial creditors vote

Public Enterprises urges yes vote for SAA business rescue plan 

By: Rebecca Campbell     13th July 2020 The Department of Public Enterprises has called on the stakeholders in financially-embattled State-owned airline South African Airways to vote in favour of the proposed business rescue plan for the carrier. The main stakeholders are the creditors of, and the unions representing workers at, SAA.... 

Ian McRae, who oversaw Eskom’s ‘electricity for all’ policy, dies 

12th July 2020 The much respected former CEO of Eskom, Ian McRae, died in the early hours of Sunday morning July 12, 2020. He was 90 years old. Born in Germiston on September 24, 1929, Ian Campbell McRae started his career as an apprentice fitter and turner at Eskom. After qualifying he went on to obtain a... 

Ian McRae, who oversaw Eskom’s ‘electricity for all’ policy, dies
Eskom CEO Andre de Ruyter pays tribute to Dr Ian McRae, who died on July 12.

Public Enterprises warns SAA pilots that their business rescue proposals are unaffordable

By: Rebecca Campbell     10th July 2020 The Department of Public Enterprises (DPE) has expressed its appreciation for the cooperation and commitment of the pilots of South African Airways (SAA), expressed through the SAA Pilot’s Association (SAAPA), during the business rescue process for the beleaguered State-owned national flag... 

Sanral says it is obligated to protect the commercial rights of concessionaires

By: Simone Liedtke     10th July 2020 The South African National Roads Agency Limited (Sanral) says that while it agrees that “it ought to be transparent in its dealings with third parties”, it is also obliged to protect the rights of these parties.  This comes after the Organisation Undoing Tax Abuse (Outa) made a formal request for... 

Unions win important Labour Appeal Court victory in SAA retrenchments case 

By: Rebecca Campbell     10th July 2020 In a joint statement, the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) have welcomed the dismissal, by the Labour Appeal Court, of the appeal by the Business Rescue Practitioners (BRPs) of South African Airways (SAA) against a Labour... 

ANC suggests pension funds take some Eskom assets 

By: Bloomberg     10th July 2020 The Economic Transformation Committee of South Africa’s ruling African National Congress suggested that pension funds take over some of the assets of the indebted state power company. The proposal to transfer parts of Eskom Holdings SOC Ltd. into non-state hands was made in a discussion document... 

ANC suggests pension funds take some Eskom assets

South Africa's just transition 

9th July 2020 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about South Africa's efforts to ensure a just transition and how the proposed repurposing of Eskom's power stations fits into that. 

South Africa's just transition
South Africa's just transition

Eskom issues power alert due to 'constrained system' 

By: African News Agency      8th July 2020 South African power utility, Eskom on Wednesday issued an alert level one urging users to reduce electricity supply due to a constrained system. "Eskom requests the public to reduce electricity usage as the power generation system is still severely constrained. This morning one generation unit... 

 Eskom issues power alert due to 'constrained system'

DPE welcomes revised SAA business rescue plan 

By: Simone Liedtke     8th July 2020 The Department of Public Enterprises (DPE) has welcomed the publication of a revised Business Rescue Plan for South African Airways (SAA) and has urged creditors, employees and stakeholders to vote in favour of the plan next week. As the shareholder on behalf of government, the DPE says the plan... 

DPE welcomes revised SAA business rescue plan

Public Enterprises reports nearly all unions have withdrawn objections to SAA packages

By: Rebecca Campbell     8th July 2020 The Department of Public Enterprises (DPE) has announced that all but one of the unions representing staff at South African Airways (SAA), plus the representatives of the non-unionised staff, have now stated that they would not object to the DPE or SAA offering voluntary severance packages (VSPs)... 

Eskom to seek authorisation to proceed with repurposing of four coal stations 

By: Terence Creamer     7th July 2020 State-owned electricity producer Eskom aims, within the coming months, to seek authorisation from its board and government to initiate a formal bidding process for the repurposing and repowering of the Camden, Komati, Grootvlei and Hendrina coal-fired power stations using lower-carbon generation... 

Eskom to seek authorisation to proceed with repurposing of four coal stations

Public Enterprises calls on unions to agree among themselves on SAA’s future

By: Rebecca Campbell     7th July 2020 The Department of Public Enterprises has urged unions representing employees of financially-embattled State-owned airline South African Airways to hold bilateral meetings among themselves to establish an agreed future for the carrier. SAA was under business rescue and its creditors were scheduled... 

BER says some criticism of Treasury is misplaced

By: Simone Liedtke     6th July 2020 The Bureau for Economic Research (BER) says a heated debate is raging about the fiscal consolidation outlined in the supplementary budget tabled by Finance Minister Tito Mboweni on June 24. "The debate ranges from vociferous critique against the planned spending cuts from 2021 to scepticism from... 

Numsa, Sacca to take legal action to prevent SAA liquidation; call for Mboweni to be fired

By: African News Agency      5th July 2020 The National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) intend to take legal action to prevent the liquidation of South African Airways (SAA), and have urged President Cyril Ramaphosa to fire Finance Minister Tito Mboweni. Numsa and Sacca... 

Zondo Commission is biased, a 'farce', says letter from ex-Prasa CEO Lucky Montana  

By: News24Wire      3rd July 2020 The former CEO of the Passenger Rail Agency of South Africa, Lucky Montana, has lashed out at the Commission of Inquiry into State Capture, accusing the committee's chairperson, Deputy Justice Raymond Zondo, of "bias" following days of hearing damning evidence about alleged corruption at the rail... 

 Zondo Commission is biased, a 'farce', says letter from ex-Prasa CEO Lucky Montana
Photo by Creamer Media
Former Prasa CEO

Public Enterprises states that four SAA unions willing to accept severance packages 

By: Rebecca Campbell     2nd July 2020 The Department of Public Enterprises reported on Thursday that four of the unions representing employees of State-owned national flag carrier South African Airways had indicated that they were willing to sign the voluntary severance packages being offered by the DPE to SAA employees. SAA is... 

TFR implementing new online truck scheduling system at City Deep Terminal

By: Simone Liedtke     2nd July 2020 Transnet Freight Rail (TFR) will implement the Navis Truck Appointment System at its City Deep Terminal in Johannesburg from July 6. The online truck scheduling system will not only regulate the flow of trucks to the terminal, but will also enable physical distancing during the Covid-19 pandemic. 

Local medical radioisotope producer continues exports despite lockdown

By: Rebecca Campbell     2nd July 2020 South African Nuclear Energy Corporation (Necsa) subsidiary company NTP Radioisotopes (NTP) has reported that, since the imposition of South Africa’s national lockdown in late March, it had been able to dispatch more than 120 shipments of medical radioisotopes to customers around the world. Both... 

Tariff implications not yet clear as Nersa loses another court battle with Eskom 

By: Terence Creamer     30th June 2020 Power utility Eskom has welcomed the June 29 ruling of the North Gauteng High Court to review and set aside three regulatory clearing account determinations made by the National Energy Regulator of South Africa for the financial years 2014/15, 2015/16 and 2016/17. In his judgment, Judge Jody... 

Tariff implications not yet clear as Nersa loses another court battle with Eskom
Photo by Creamer Media's Donna Slater
The Nersa panel at the MYPD4 hearing in 2019

South African court sides with Eskom in clawback dispute

By: Reuters     30th June 2020 South Africa’s High Court on Monday sided with Eskom in a dispute over the amounts energy regulator Nersa allowed the state utility to claw back from customers for electricity supplied in the 2014/15, 2015/16 and 2016/17 financial years. Nersa’s 2018 decisions to allow Eskom to recoup... 

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