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State Companies News

Dismissive of 2037 nuclear timeline in IRP base case, Eskom to release RFP by year-end 

By: Terence Creamer     22nd November 2016 State-owned power utility Eskom indicated on Tuesday that it planned to move ahead with a controversial request for proposals (RFP) for nuclear before the end of 2016, despite the base case in a draft Integrated Resource Plan (IRP) update indicating that the first reactor would only be required... 

National Treasury makes further strides in bringing down supplier costs

By: Natasha Odendaal     21st November 2016 In an effort to bring down supplier costs, National Treasury’s Office of the Chief Procurement Officer (OCPO) has successfully renegotiated an existing contract with Telkom-owned Business Connexion (BCX). It is expected that the renegotiated fixed-line telecommunication services contract will... 

Futuregrowth lifts DBSA lending suspension

By: Terence Creamer     21st November 2016 The Development Bank of Southern Africa (DBSA) has become the third public entity to confirm that Futuregrowth Asset Management has lifted a lending suspension imposed on it and five other State-owned companies (SoCs) earlier in the year. On August 31, Futuregrowth announced that, owing to... 

DBSA CEO Patrick Dlamini
Photo by Duane Daws
DBSA CEO Patrick Dlamini

As DoE prepares to release IRP, all eyes will be on nuclear 

By: Terence Creamer     17th November 2016 The Department of Energy (DoE) will on Tuesday November 22 release the long-waited draft of the updated Integrated Resource Plan (IRP) for electricity, as well as the draft Integrated Energy Plan (IEP). The release, which will take place in Pretoria, follows the Cabinet decision of November 2,... 

The Koeberg nuclear power station, in the Western Cape
The Koeberg nuclear power station, in the Western Cape

Where to from here for Eskom? 

17th November 2016 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about the power utility’s handling of Thuli Madonsela’s State of Capture report and the matter of renewables. 

Where to from here for Eskom?
Where to from here for Eskom?

State-owned entities fare poorly in Auditor-General findings

By: Megan van Wyngaardt     16th November 2016 Embattled State-owned entities such as the South African Post Office (SAPO), the South African Broadcasting Corporation (SABC) and Airports Company South Africa (ACSA) once again fared poorly in the yearly audits of South Africa’s Auditor-General (AG), Kimi Makwetu, who puts this down to... 

Any recapitalisation of SAA would be off balance sheet – Jonas

By: African News Agency      16th November 2016 Recapitalisation of South African Airways (SAA) was an option but it would be funded off the balance sheet of the troubled carrier and not from the state’s coffers, Deputy Finance Minister Mcebisi Jonas said on Wednesday. “If we are going to recapitalise, it will be off balance sheet, it will not... 

Any recapitalisation of SAA would be off balance sheet – Jonas

Brown to make new Eskom board proposals to Cabinet after Pamensky quits

By: Terence Creamer     16th November 2016 Public Enterprises Minister Lynne Brown says she intends submitting recommendations to Cabinet soon regarding the strengthening the Eskom Board, after confirming that she had accepted Mark Pamensky request to step down. Pamensky’s resignation follows days after CEO Brian Molefe announced that he... 

Public Enterprises Minister Lynne Brown
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

DA alleges political concealment about the state of PetroSA

By: Kim Cloete     15th November 2016 A controversial forensic audit report into embattled State entity PetroSA, which was to have been disclosed to the media and public during the course of a meeting of Parliament’s Portfolio Committee on Energy, has been withheld. At the meeting, on Tuesday, which was closed to the media and... 

South Africa’s slump in African renewables index reflects Eskom-induced uncertainty

By: Terence Creamer     15th November 2016 South Africa’s ranking in a continent-wide renewable-energy index has plummeted, reflecting the current market uncertainty that has arisen as a result of Eskom’s refusal to sign power purchase agreements (PPAs) with preferred bidders named following the most recent auctions held under the... 

Fieldstone Africa CEO Jason Harlan
Fieldstone Africa CEO Jason Harlan

ACWA Power to reassess bullish South Africa stance should Redstone collapse 

By: Terence Creamer     15th November 2016 The head of Saudi Arabian electricity group ACWA Power says that, while the company remains a patient investor in South Africa, the outcome of the current impasse with Eskom relating to its 100 MW Redstone concentrated solar power (CSP) project will be critical to the group’s future investment... 

ACWA Power CEO Paddy Padmanathan
ACWA Power CEO Paddy Padmanathan

Renewables body urges new Eskom chief to restore communications and momentum 

By: Terence Creamer     14th November 2016 The South African Renewable Energy Council (Sarec) has expressed the hope that the new CEO of Eskom will restore “constructive communication” with the renewable-energy industry, which it says has faced “increasingly irrational and inaccurate criticism” during Brian Molefe’s tenure. Molefe... 

Renewables body urges new Eskom chief to restore communications and momentum

Zuma says he reprimanded Zwane

By: African News Agency      14th November 2016 President Jacob Zuma said on Monday, in response to a parliamentary question that he had reprimanded Mineral Resources Mosebenzi Zwane for falsely stating that Cabinet had agreed to an inquiry into major banks’ decision to break ties with the Gupta family. “I reprimanded the Minister of Mineral... 

Mineral Resources Minister Mosebenzi Zwane
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Molefe steps down, but denies it’s an admission of wrongdoing 

By: Terence Creamer     11th November 2016 Eskom CEO Brian Molefe announced on Friday that he would leave the State-owned electricity utility on January 1, 2017, but denied that the move was an admission of “wrongdoing on my part”. The decision follows the publication on November 2 of the Public Protector office’s 'State of Capture'... 

Brian Molefe
Photo by Duane Daws
Brian Molefe

Transnet adds M&A to its growth agenda 

10th November 2016 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights from Transnet's interim results, includings its R20-billion war chest for mergers and acquisitions and the latest developments around its capital programme. 

Transnet adds M&A to its growth agenda
Transnet adds M&A to its growth agenda

Most Transnet lenders agree to relax downgrade triggers

By: Terence Creamer     7th November 2016 South Africa’s freight logistics utility Transnet has reached agreement with the majority of lenders to relax covenant triggers in respect of R30.1-billion in debt. These triggers would otherwise be brought into play in the event that South Africa is downgraded to junk in December. Transnet’s... 

Transnet CFO Garry Pita
Photo by Duane Daws
Transnet CFO Garry Pita

Transnet to terminate Trillian relationship, seeks Futuregrowth apology  

By: Terence Creamer     7th November 2016 State-owned logistics group Transnet will be terminating its relationship with both Trillian Capital and Regiments Capital in light of the current fallout surrounding the two companies – developments that are reflected in the Public Protector’s ‘State of Capture’ report and is currently also the... 

Transnet to terminate Trillian relationship, seeks Futuregrowth apology
Transnet CEO Siyabonga Gama on Trillian contracts and relations with Futuregrowth. Camera Work & Editing: Nicholas Boyd. Recorded: 7.11.2016

Transnet sets up R20bn acquisitions war chest, as it pulls in capex horns 

By: Terence Creamer     7th November 2016 State-owned freight logistics group Transnet has set aside a R20-billion war chest for mergers and acquisitions inside South Africa and the rest of the continent, owing to “limited” prospects for organic growth domestically. Specific merger and acquisition (M&A) targets have been identified as... 

Transnet CEO Siyabonga Gama
Transnet CEO Siyabonga Gama on the group's R20-billion M&A war chest. Camera Work & Editing: Nicholas Boyd. Recorded: 7.11.2016

Futuregrowth lifts lending suspension on IDC

By: Terence Creamer     7th November 2016 The Industrial Development Corporation (IDC) reported on Monday that Futuregrowth Asset Management’s suspension of lending activities to the State-owned development financier had been lifted with immediate effect. On August 31, Futuregrowth announced that it was freezing all lending to the IDC,... 

IDC CFO Nonkululeko Dlamini
Photo by Duane Daws
IDC CFO Nonkululeko Dlamini

Sarb deputy governor reappointed

By: Sashnee Moodley     7th November 2016 South African Reserve Bank (Sarb) Deputy Governor Francois Groepe has been reappointed in the position by President Jacob Zuma for five years from January 1, 2017. Groepe is the chairperson of the South African Bank Note Company and the South African Mint Company, which are subsidiaries of Sarb.... 

Sarb Deputy Governor Francois Groepe
Photo by Bloomberg
Sarb Deputy Governor Francois Groepe

Eskom board still considering whether to take State of Capture report on review 

By: Terence Creamer     4th November 2016 The Eskom board reported on Friday that it was taking legal advice on “inconsistencies” in the Public Protector’s ‘State of Capture’ report, including whether or not to take the report on legal review. The board also insisted that all directors had declared conflicts of interest, complied with... 

Eskom board member Dr Pat Naidoo
Eskom board member Dr Pat Naidoo

Eskom reports interim results amid State Capture controversy 

4th November 2016 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about the power utility’s results following the release of the former Public Protector Thuli Madonsela’s State of Capture report. 

Eskom reports interim results amid State Capture controversy
Eskom reports interim results amid State Capture controversy

Eskom in desperate search for industrial customers as surplus grows 

By: Terence Creamer     4th November 2016 Amid weak economic growth, falling industrial and mining demand and a rise in plant availability, Eskom has appealed to industrial customers to approach it for new connections, saying it is “open for business”. The State-owned utility announced a recovery in the energy availability factor (EAF)... 

Eskom in desperate search for industrial customers as surplus grows

Custom-made hoses to be used by railway groups

4th November 2016 Benoni-based automotive tyre and industrial rubber products producer Dunlop Industrial Products has a high penetration in the African continent where it supplies custom-made solutions, such as the design and supply of vacuum and air brake hoses for State-owned utility Transnet, Passenger Rail... 

CUSTOM MADE Dunlop Industrial Products supply custom-made solutions for railway groups and companies globally.
CUSTOM MADE Dunlop Industrial Products supply custom-made solutions for railway groups and companies globally.

Subcontractor working on expansion and skills development programmes

By: Simone Liedtke     4th November 2016 Tier-two subcontract manufacturer to original-equipment manufacturers (OEMs) IEC Holden, which supplies electric motors and generators to the railway, power generation, oil and gas, and mining industries, is currently directly contracted to OEMs that supply the Transnet Freight Rail rail... 

PRODUCT SUPPLY
A drive for electric freight locomotive, tested and ready for dispatch
PRODUCT SUPPLY A drive for electric freight locomotive, tested and ready for dispatch

Best practice guideline aims at enabling global competitiveness

By: Nadine James     4th November 2016 National resource efficiency programme the National Cleaner Production Centre of South Africa (NCPC-SA) has released its resource efficiency and cleaner production  (RECP) best practice guideline for the South African valve manufacturing industry. The objectives of the guideline are to ensure... 

VICTOR MANAVHELA The best practice guideline has been well received by the valves manufacturing industry
VICTOR MANAVHELA The best practice guideline has been well received by the valves manufacturing industry

Transnet ranked a top employer in S Africa

4th November 2016 Last month, State-owned freight and logistics company Transnet was ranked one of South Africa’s top employers for providing its employees with an exceptional working environment. 

Eskom continues to bemoan renewables costs as IPP uncertainty lingers

By: Terence Creamer     3rd November 2016 State-owned electricity utility Eskom offered little certainty on Wednesday about how its current stand-off with renewable-energy independent power producers (IPPs) would be resolved, while continuing to bemoan the high costs associated with its current contracts. However, CEO Brian Molefe did... 

Eskom continues to bemoan renewables costs as IPP uncertainty lingers

Emotional Molefe weighs judicial review and future after damning Public Protector report  

By: Terence Creamer     3rd November 2016 Eskom CEO Brian Molefe has indicated that he is weighing his future options as head of the State-owned electricity producer following the release of a Public Protector report, which raises serious questions about his role in facilitating a coal deal involving Tegeta, a mining company linked to... 

Eskom CEO Brian Molefe
Eskom CEO Brian Molefe outlines his unhappiness with the Public Protector's State of Capture report. Camera Work and Editing: Nicholas Boyd. 3.11.2016

Guptas considered Treasury a 'stumbling block'

By: News24Wire      3rd November 2016 The Treasury was a "stumbling block" to the Guptas' business ambitions and the family asked Deputy Finance Minister Mcebisi Jonas to sack its director general, according to former Public Protector Thuli Madonsela’s "state capture" report. He would have had to do this if he had accepted the... 

Deputy Finance Minister Mcebisi Jonas
Photo by Duane Daws
Deputy Finance Minister Mcebisi Jonas

Business finds voice, but holds back from calling for Zuma’s head

By: Terence Creamer     2nd November 2016 In an action that is unprecedented since the advent of democracy in South Africa, organised business has united with religious and civil society groups behind a campaign, known as Save South Africa, which is deeply critical of the current state of government. Business, nevertheless, refrained... 

Business finds voice, but holds back from calling for Zuma’s head

Ndlovu steps down after eight years at the helm of TCTA

1st November 2016 James Ndlovu has stepped down as CEO of the Trans-Caledon Tunnel Authority (TCTA), effective October 31. He had served two terms as head of the organisation. 

Final Ingula unit synchronised to grid

By: Terence Creamer     31st October 2016 Electricity producer Eskom has confirmed that Unit 3 at the 1 332 MW Ingula pumped-storage scheme, in the Drakensberg, was synchronised to the national grid on October 29, making it the fourth and final 333 MW unit to be synchronised at Ingula. Unit 3 was previously synchronised on March 6, 2016,... 

Final Ingula unit synchronised to grid

SAA to continue to post losses until 2021 despite new turnaround promise 

By: Terence Creamer     28th October 2016 Embattled national carrier South African Airways (SAA) has indicated that it is likely to remain lossmaking until 2021, but that the scale of its losses should continue to decline. The State-owned group reported a loss of R1.5-billion in 2015/16, following a loss of R5.6-billion in the previous... 

SAA chairperson Dudu Myeni (centre) flanked by Finance Minister Pravin (left) and Deputy Finance Minister Mcebisi Jonas (right)
Photo by Duane Daws
SAA chairperson Dudu Myeni (centre) flanked by Finance Minister Pravin (left) and Deputy Finance Minister Mcebisi Jonas (right)

South African IPP pioneer laments the ‘dampening effect’ of Eskom’s refusal to sign PPAs 

By: Terence Creamer     28th October 2016 A South African developer of medium-sized hydropower projects is increasingly turning its attention to regional opportunities, largely because of the hydrological potential to the north of the border, but also because of the prevailing uncertainty domestically about the future of the country’s... 

Renewable Energy Holdings CEO Anton-Louis Olivier
Renewable Energy Holdings CEO Anton-Louis Olivier

Advisers to be appointed for the realignment of shareholding in State airlines

By: Anine Kilian     26th October 2016 Finance Minister Pravin Gordhan announced on Wednesday that advisers will be appointed to provide technical assistance to government as it considers the possible realignment of its shareholding in State-owned airlines. Delivering the 2016 Medium-Term Budget Policy Statement he noted that several... 

Advisers to be appointed for the realignment of shareholding in State airlines

Zuma confident that under Myeni & Co SAA will prosper 

By: African News Agency      25th October 2016 President Jacob Zuma on Tuesday expressed confidence in the newly-appointed board of South African Airways (SAA), under the leadership of Dudu Myeni, to effect a turnaround at the cash-strapped State-owned airline. “The appointment of the board, including the chair, is for the interests of the... 

SAA chairperson Dudu Myeni
SAA chairperson Dudu Myeni
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