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State Companies News

The legal weapons in the ongoing battle against impunity at parastatals 

5th July 2017 In this opinion article, Dale T McKinley outlines the instruments available within the Public Finance Management Act and the Companies Act to hold nonexecutive directors and executives at State-owned enterprises legally accountable for their actions. It is not as if South Africa needs more nega-... 

Nersa calls for comment on special pricing deal to unlock ferrosilicon production 

By: Terence Creamer     4th July 2017 The National Energy Regulator of South Africa (Nersa) is calling for written comments on an application by Eskom to implement a two-year incentive pricing package that will enable the restart of ferrosilicon production in the Limpopo and Mpumalanga provinces. The regulator turned down an earlier... 

Nersa calls for comment on special pricing deal to unlock ferrosilicon production

Labour Court postpones Molefe hearing pending outcome of high court case

By: African News Agency      4th July 2017 The Labour Court on Tuesday postponed the hearing of Brian Molefe’s challenge to his dismissal as Eskom CEO, pending the outcome of the high court application by the opposition for his re-appointment to be ruled invalid and set aside. The Labour Court in its ruling rejected Molefe’s contention... 

Former Eskom CEO Brian Molefe
Photo by Duane Daws
Former Eskom CEO Brian Molefe

Transnet insists bond appetite remains as it again lowers capex forecast 

By: Terence Creamer     3rd July 2017 State-owned logistics group Transnet has sought to refute reports that demand for its bonds had collapsed following the recent downgrades to South Africa’s credit rating, insisting that appetite for its bonds remains strong both domestically and internationally. CFO Garry Pita said the reports... 

Transnet CFO Garry Pita
Transnet CFO Garry Pita on continued appetite for the group's bonds. Camera Work: Nicholas Boyd. Editing: Lionel da Silva. Recorded: 3.7.2017

Board 'vindicated' by PRASA court ruling – Popo Molefe

By: News24Wire      3rd July 2017 PRASA board chairperson Popo Molefe says the State-owned rail entity’s board feels vindicated by Monday’s High Court judgment to review and set aside the company’s controversial contract for new locomotives. Johannesburg High Court Judge J Francis on Monday ruled that PRASA’s R3.5-billion... 

Board 'vindicated' by PRASA court ruling – Popo Molefe

Transnet appoints Werksmans to probe locomotive corruption claims  

By: Terence Creamer     3rd July 2017 State-owned freight logistics utility Transnet reports that Werksmans Attorneys has been appointed to oversee a board-level probe into allegations of corruption relating to its purchase of locomotives from China South Rail (CSR). Opposition party the Economic Freedom Fighters (EFF) recently laid... 

Transnet CEO Siyabonga Gama in the foreground with CFO Garry Pita
Transnet CEO Siyabonga Gama outlines nature of board-led probe into locomotive corruption allegations. Camera Work: Nicholas Boyd. Editing: Lionel da Silva. Recorded: 3.7.2017

ANC conference discussions must be informed by unity – Zuma

By: Sane Dhlamini     30th June 2017 President Jacob Zuma says the fifth African National Congress (ANC) National Policy Conference must be informed by unity – which is the rock upon in which the ANC was founded 100 years ago.   Addressing ANC delegates in Johannesburg on Friday, Zuma said the ANC was taught by its founding leaders... 

President Jacob Zuma
Photo by Reuters
President Jacob Zuma

ANC conference must analyse decline in electoral support – Zuma

By: Sashnee Moodley     30th June 2017 The African National Congress’ (ANC’s) fifth National Policy Conference must diagnose the cause of decline in electoral support following the party’s losses in the 2016 Municipal Elections. This was proposed by President Jacob Zuma at the opening of party’s conference in Johannesburg on Friday. 

ANC conference must analyse decline in electoral support – Zuma

Cosatu wants unity restored in alliance

By: Sane Dhlamini     30th June 2017 The Congress of South African Trade Unions (Cosatu) president Sdumo Dlamini hopes the African National Congress’ (ANC’s) fifth National Policy Conference will restore unity in the tripartite alliance. Speaking at the policy conference on Friday in Johannesburg, Dlamini expressed his... 

Cosatu president Sdumo Dlamini
Cosatu president Sdumo Dlamini

Business holds small-business funding line, despite serious postreshuffle trust deficit

By: Mia Breytenbach     30th June 2017 It is now well documented how President Jacob Zuma’s March 31 Cabinet reshuffle, which saw South Africa’s highly-regarded Pravin Gordhan removed as Finance Minister, seriously undermined trust between government and its social partners, including business. The controversial move also placed the... 

Business holds small-business funding line, despite serious postreshuffle trust deficit

Eskom acting CE to focus on governance, ethics

By: Megan van Wyngaardt     29th June 2017 Eskom acting CEO Johnny Dladla is prioritising meeting with critical stakeholders, including employees, to share and get support for the company’s operational plans going forward. “Together with my executive management team, we will put special focus on corporate governance and ethics going... 

Companies Tribunal dismisses Dudu Myeni’s application with costs

By: African News Agency      29th June 2017 South African Airways (SAA) chairperson Dudu Myeni’s application to have a compliance notice against her, issued by the Companies and Intellectual Properties Commission, set aside was dismissed with costs by the Companies Tribunal on Thursday. “The respondent [Companies and Intellectual Property... 

SAA chairperson Dudu Myeni
SAA chairperson Dudu Myeni

Mokonyane fires Overberg Water board

By: Megan van Wyngaardt     27th June 2017 Water and Sanitation Minister Nomvula Mokonyane has terminated Overberg Water’s entire board, with immediate effect, citing financial irregularities. Overberg Water acting CEO Nthabiseng Fundakubi has also been recalled from her position. 

Mokonyane fires Overberg Water board

TNPA unveils R255m admin building at Ngqura

By: Megan van Wyngaardt     27th June 2017 State-owned Transnet National Ports Authority (TNPA) has unveiled a new R255-million administration building – eMendi – at the Port of Ngqura, in the Eastern Cape. Speaking at the unveiling, TNPA CEO Richard Vallihu said the 10 000 m2 building was named in reference to the SS Mendi troop ship... 

TNPA unveils R255m admin building at Ngqura

Musina Intermodal Terminal to improve cross-border trade

By: Schalk Burger     26th June 2017 The Musina Intermodal Terminal (MIT), launched on Monday, is set to reduce the cost of cross-border trade, especially for bulk commodities, on the North-South trade corridor. The terminal, about 3 km outside Musina and about 13 km from the Beitbridge border post, will serve to move commodities,... 

Trade and Industry Minister Dr Rob Davies is taken on a tour of the Beitbridge Border Post on Monday
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies is taken on a tour of the Beitbridge Border Post on Monday

‘Significant implications’ for design of African power markets as renewables prices fall

By: Terence Creamer     26th June 2017 Recent renewable energy price reductions, together with sub-Saharan Africa’s (SSA’s) formidable solar and wind resources, have made solar and wind technologies the cheapest sources of power in several countries, which carries significant implications, a newly published academic paper argues, for... 

‘Significant implications’ for design of African power markets as renewables prices fall

Legislative framework for SOEs inadequate – Maswanganyi

By: Anine Kilian     23rd June 2017 South Africa’s transport industry is not immune to the challenges faced by State-owned enterprises (SOEs), according to Transport Minister Joe Maswanganyi, who told a media briefing on Friday that the legislative framework for SOEs in South Africa was inadequate, conflicting and duplicitous.... 

If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board

By: Terence Creamer     23rd June 2017 Public Enterprises Minister Lynne Brown has called on the new interim leadership of embattled power utility Eskom to give priority attention to addressing the management of contracts, conflicts of interest and the quality of coal being supplied to its power stations. Speaking following the Eskom... 

Zethembe Khoza, Lynne Brown, Ben Martins and Johnny Dladla
Photo by Duane Daws
Zethembe Khoza, Lynne Brown, Ben Martins and Johnny Dladla

Local defence sector seeks strategic support from government

By: Keith Campbell     23rd June 2017 Pre-Cabinet level discussions are under way within the Government about transferring State-owned defence industrial group Denel from the aegis of the Department of Public Works to that of the Department of Defence (DoD). This was stated by Defence Secretary Dr Sam Gulube at a recent function... 

Salga calls on municipalities to comply with audit outcomes

By: Anine Kilian     22nd June 2017 The South African Local Government Association (Salga) has reiterated its call for action to be taken against municipalities that do not comply with audit outcomes, stating that municipalities that have irregular outcomes should face consequences. The latest municipal audit outcomes of local... 

Dladla appointed acting Eskom CEO ahead of closely watched AGM 

By: Terence Creamer     22nd June 2017 The board at State-owned power utility Eskom announced on Thursday that Johnny Dladla had been appointed acting group CEO with immediate effect. The position of CEO and acting CEO has been vacant since late May, when a decision was made to rescind the highly controversial reappointment of Brian... 

Johnny Dladla
Johnny Dladla

Transnet denies claim that no CSR locomotives made in South Africa 

By: Terence Creamer     21st June 2017 State-owned freight logistics group Transnet has described as “inaccurate” the claim that none of the locomotives procured from China South Rail (CSR) have been manufactured locally. Research commissioned by independent economic research institution Trade and Industrial Policy Strategies (TIPS)... 

Transnet denies claim that no CSR locomotives made in South Africa

MPs to include State capture in Molefe probe

By: African News Agency      21st June 2017 Parliament’s portfolio committee on public enterprises on Wednesday resolved to devote August to an in-depth probe of the circumstances surrounding Brian Molefe’s re-appointment to the helm of Eskom, including allegations of the Gupta family’s hold on the power utility. “The committee agrees that... 

Institute of Directors guns for SAA chair, Dudu Myeni 

By: African News Agency      20th June 2017 The Institute of Directors in Southern Africa (IoDSA) said on Tuesday that the South African Airways (SAA) board and chairperson must fulfil their duties at this critical juncture. This comes after the Mail & Guardian last week reported that SAA chair, Dudu Myeni, had recently missed several... 

SAA to implement turnaround plan 

By: Megan van Wyngaardt     20th June 2017 Cash-strapped South African Airways (SAA) has compiled a five-year business turnaround plan, aimed at improving its financial stability, it said on Tuesday. The national carrier is currently plagued by a weak balance sheet, with projected losses of R3.5-billion for 2016/17– a R 2-billion increase... 

South African Airways acting CEO Musa Zwane
Photo by Duane Daws
South African Airways acting CEO Musa Zwane

Companies Tribunal to hear case on SAA chair Dudu Myeni 

By: News24Wire      19th June 2017 The Companies Tribunal is on Monday set to hold a hearing on whether Dudu Myeni acted in a delinquent manner in her capacity as director of the South African Airways (SAA) board. In March, the Organisation Undoing Tax Abuse (OUTA) and the South African Airways Pilots Association had initially... 

SAA Chair Dudu Myeni
Photo by Duane Daws
SAA Chair Dudu Myeni

Local airline announces new routes after public survey

By: Keith Campbell     16th June 2017 South African low cost carrier FlySafair announced at the beginning of the month that it was launching new routes on its network. These will be between Durban and East London and Durban and Port Elizabeth. The new routes will be in operation by the end of November. The decision to implement these... 

South Africa might not reach 2017 growth projection – Gigaba

By: Anine Kilian     15th June 2017 Owing to poor economic developments in recent months, including three ratings downgrades, South Africa may not realise its expected 2017 growth projection of 1.3%, according to Finance Minister Malusi Gigaba, who spoke at a media briefing in Pretoria on Thursday. Ratings agency Fitch this month... 

Finance Minister Malusi Gigaba
Finance Minister Malusi Gigaba

‘Not one’ CSR locomotive made in South Africa, economic research group claims 

By: Terence Creamer     14th June 2017 Research commissioned by independent economic research institution Trade and Industrial Policy Strategies (TIPS) has found that, despite local-content obligations, not one of the China South Rail (CSR) locomotives being procured by Transnet has been assembled in South Africa and that all have... 

‘Not one’ CSR locomotive made in South Africa, economic research group claims

No word yet on interim Eskom CEO as Ngubane resigns as chair

By: Creamer Media Reporter      13th June 2017 Public Enterprises Minister Lynne Brown has announced that Dr Ben Ngubane has resigned as nonexecutive director and chairperson of the Eskom board with immediate effect. “Dr Ngubane formally tendered his resignation, which I accepted,” Brown said in a statement released late on Monday night. 

Dr Ben Ngubane
Photo by Duane Daws
Dr Ben Ngubane

State defence group Denel could be transferred from Public Enterprises to Defence 

By: Keith Campbell     9th June 2017 Pre-Cabinet level discussions are under way within the government about transferring State-owned defence industrial group Denel from the aegis of the Department of Public Works to that of the Department of Defence (DoD). This was stated by Defence Secretary Dr Sam Gulube at a function marking the... 

Secretary of Defence Sam Gulube
Photo by Duane Daws/Creamer Media
Secretary of Defence Sam Gulube

Transnet sets up special review committee as locomotive-contract heat is turned up

By: Terence Creamer     9th June 2017 State-owned freight logistics group Transnet has established a special committee to review the company’s procurement processes, with a specific focus on the locomotive acquisition programme. The programme, and specifically the procurement of 359 electric locomotives from China South Rail (CSR),... 

Transnet sets up special review committee as locomotive-contract heat is turned up

Telkom boasts new fit-for-purpose operating model  

By: Creamer Media Reporter      9th June 2017 Creamer Media's Chanel de Bruyn speaks to Creamer Media Deputy Editor Natasha Odendaal about how Telkom’s restructuring has benefited the group and contributed to an improved financial performance for the year ended March 31. 

Telkom boasts new fit-for-purpose operating model
Telkom boasts new fit-for-purpose operating model. Video Camera person and Editing: Nicholas Boyd.

Denel purchase of aero engine company approved with conditions

By: Keith Campbell     9th June 2017 South Africa’s Competition Commission has recommended that State-owned defence and aerospace group Denel be allowed to buy local aero-engine company Turbomeca Africa (TMA). The recommendation was given to the Competition Tribunal. The Commission announced this decision on late last month.  

EFF to lay charges against Gigaba over Transnet locomotive procurement 

By: African News Agency      8th June 2017 The Economic Freedom Fighters (EFF) on Thursday said it would open a criminal case against Finance Minister Malusi Gigaba, whom it alleged was at the centre of corruption in the procurement of diesel locomotives by Transnet. The EFF could also lay charges against the Transnet board that was in... 

Finance Minister Malusi Gigaba
Photo by Bloomberg
Finance Minister Malusi Gigaba

Eskom wants Nersa to consider two outstanding RCA applications in wake of court ruling 

By: Terence Creamer     7th June 2017 State-owned electricity utility Eskom believes the decision of the Supreme Court of Appeal (SCA) to upheld an appeal by National Energy Regulator of South Africa (Nersa) and Eskom relating to implementation of a clawback mechanism in South Africa’s tariff-setting methodology opens the way for... 

Eskom wants Nersa to consider two outstanding RCA applications in wake of court ruling

Maswanganyi confirms letter to PRASA board, won’t reveal its contents

By: African News Agency      6th June 2017 Transport Minister Joe Maswanganyi on Tuesday confirmed he wrote a letter to the PRASA board, but refused to divulge whether the missive had asked board members to supply him with reasons why they should not be suspended. “…the letter remains a private and confidential correspondence between the... 

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