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State Companies News

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,... →

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... →

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

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... →

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

IEA upscales five-year renewables growth forecast after 2015 ‘turning point’

By: Terence Creamer 25th October 2016 The International Energy Agency (IEA) has significantly increased its five-year growth forecast for renewable energy in light of what it describes as a “turning point” in 2015, when a record 153 GW of new renewables capacity was added globally. In its ‘Medium-Term Renewable Market Report’, the... →

Photo of Enel's Pulinda solar project in South Africa

Enel expects renewables to prevail in South Africa despite current uncertainty

By: Terence Creamer 20th October 2016 Enel Green Power South Africa country manager William Price says he is “surprised” by Eskom’s current resistance to signing power purchase agreements (PPAs) for new renewable-energy projects in light of the undeniable success of the competitive-bidding model pursued by the Department of Energy... →

Photo by Duane Daws
Enel Green Power South Africa country manager William

Nersa awaits RCA appeal before moving on new Eskom applications

By: Terence Creamer 19th October 2016 The National Energy Regulator of South Africa (Nersa) expects its application for leave to appeal a recent North Gauteng High Court judgment, which found its approval of Eskom’s third multiyear price determination (MYPD3) Regulatory Clearing Account (RCA) for the 2013/14 to be unlawful, to take... →

Photo by Duane Daws
Nersa regulator Thembani Bukula

Parliament turns away PetroSA, DoE officials

By: Kim Cloete 18th October 2016 Parliament turned away PetroSA board members as well as Department of Energy (DoE) officials after they failed to submit a forensic report into the R14.5-billion loss incurred by the State-owned entity. DoE director-general Thabane Zulu had prepared a presentation relating to the investigation... →

Economy facing major challenges – Zuma

By: Sane Dhlamini 18th October 2016 South African President Jacob Zuma said the country’s economy was facing major challenges despite 3.3% growth in the global economy. He was speaking at the Heads of Missions conference in Pretoria on Tuesday where he addressed South African diplomatic missions that represented the country abroad. →

Photo by Duane Daws
South African President Jacob Zuma

DA files complaint over SAA results

By: African News Agency 17th October 2016 The Democratic Alliance (DA) has filed a complaint with the Independent Regulatory Board for Auditors (IRBA) against the auditors of South African Airways, DA deputy finance spokesperson Alf Lees said on Monday. Lees said the opposition was asking the IRBA to consider the failure on the part of... →

Wind body wants Nersa to fine Eskom for failing to comply with IPP policy

By: Terence Creamer 17th October 2016 The South African Wind Energy Association (Sawea) has lodged an official complaint with the National Energy Regulator of South Africa (Nersa) over Eskom’s refusal to enter into power purchase agreements (PPAs) with preferred bidders selected under the country’s highly regarded Renewable Energy... →

South African Wind Energy Association CEO Johan van den Berg

Necsa receives first R1.7m in settlement of Russian fabrication contract

By: Samantha Herbst 11th October 2016 State-owned nuclear company the South African Nuclear Energy Corporation (Necsa) has been paid the first R1.7-million of a fabrication contract to manufacture nuclear reactor components for Russia. The first items fabricated at the Pelindaba site of Necsa, outside Pretoria, have been delivered to... →

Necsa CEO Phumzile Tshelane

Consultancy proposes ways to kick-start South Africa’s GDP growth

By: David Oliveira 7th October 2016 Five actionable plans would be key to help kick-start South Africa’s gross domestic product (GDP) growth – currently standing at below 1% – and address the country’s triple threat of unemployment, inequality and poverty, delegates heard at business consultancy IQ Business’s smartgrowth.co.za... →

South Africa’s economic woes largely self-inflicted – CDE

By: David Oliveira 7th October 2016 While the historical legacy of apartheid and the global economic slowdown have contributed to South Africa’s poor economic growth, Centre for Development and Enterprise (CDE) executive director Ann Bernstein stated that South Africa’s economic woes were predominantly owing to government’s policy... →

SA Express won’t table results after failing auditor’s test

By: News24Wire 30th September 2016 Public Enterprises Minister Lynne Brown said she won’t table the SA Express annual report for the 2015/16 financial year by the deadline on Friday as the airline failed to satisfy the auditor general's solvency and liquidity test. In a letter to the Speaker of Parliament Baleka Mbete on Thursday,... →

Eskom’s role and outstanding generation plan key to nuclear RFP delay

By: Terence Creamer 30th September 2016 The issue of Eskom’s role in the procurement process for South Africa’s nuclear new build programme is said to lie at the heart of Cabinet’s surprise decision to delay the release of the controversial nuclear request for proposals (RFP), which was due for dissemination on September 30. However,... →

Photo by Duane Daws
Statue at Eskom's head office in Johannesburg

Airbus to assist with Rooivalk upgrade, as it reaffirms Africa commitment

By: Keith Campbell 30th September 2016 The Airbus Group (parent of Airbus, Airbus Defence and Space and Airbus Helicopters) is committed to help develop aeronautical industries in Africa, because it believes that this makes good business sense. For the Group, Africa is defined as sub-Saharan Africa plus Moroco (with Egypt, Libya,... →

PRASA owes suppliers and service providers R796m

By: African News Agency 28th September 2016 The Passenger Rail Service of South Africa (PRASA) owes Transnet and muncipalities some R796-million on accounts that have been outstanding for more than 30 days, and is not sure when it will be able to settle. This was according to a response from Transport Minister Dipuo Peters to Democratic... →

Brown: Unless economy in hands of majority, it's going nowhere

By: News24Wire 28th September 2016 The economy must be controlled by the black majority, said Public Enterprises Minister Lynne Brown. Brown spoke to media briefly following a closed meeting with the Black Business Council (BBC) in Sandton on Tuesday. →

Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Work under way to localise bimodal road-rail cargo technology

By: Terence Creamer 27th September 2016 A domestic homologation process has been initiated for an innovative American bimodal transport solution, which integrates long-distance rail with ‘first- and last-mile’ road legs to provide a door-to-door cargo service. The process began following the recent announcement that South African... →

The RailRunner units carry standard shipping containers

Tender may be issued this year for further development of Constitution Hill

By: Terence Creamer 26th September 2016 The Gauteng Growth and Development Agency (GGDA) is hoping to release a request for proposals (RFP) before the end of 2016 for the further development of the Constitution Hill precinct, on the border of Hillbrow and Braamfontein, in Johannesburg. GGDA CEO Saki Zamxaka says various property... →

Futuregrowth lifts Land Bank lending freeze

By: Terence Creamer 26th September 2016 The Land Bank announced on Monday that Futuregrowth Asset Management had, with immediate effect, lifted a lending suspension controversially imposed on the bank, as well as five other State-owned companies (SoCs), on August 31. Besides the Land Bank, Futuregrowth also froze any new lending to the... →

Land Bank CEO TP Nchocho

ACSA starts with new strategy while reporting good results

By: Keith Campbell 23rd September 2016 Airports Company South Africa (ACSA) has started to implement elements of its new operational strategy, says chairperson Skhumbuzo Macozoma. "It's very important to have sound corporate governance in a company like ACSA," he said at a briefing on Friday. "I'm happy to announce we've finalised a... →

Photo by Duane Daws
ACSA CEO Bongani Maseko

Commission’s ports probe to place spotlight on Transnet’s economic impact

By: Mia Breytenbach 23rd September 2016 State-owned logistics company Transnet, which owns all commercial ports in South Africa and is the sole operator of the country’s container and automotive terminals, has naturally had a major influence over port operations and terminal handling charges. However, that role and dominance has often... →

BLSA outlines three urgent interventions for restoring confidence

By: Terence Creamer 22nd September 2016 Business Leadership South Africa (BLSA), which is an association of the biggest domestic and multinational businesses in the country, urged government on Thursday to take three urgent steps to demonstrate its commitment to delivering on its promise to support the economy and restore investor... →

Photo by Duane Daws
BLSA president Saki Macozoma

Treasury postpones implementation of tyre levy to Feb 2017

By: Megan van Wyngaardt 22nd September 2016 The National Treasury has postponed the implementation of the environmental tyre levy to February 1. The levy had been due for implementation on October 1. →

DBSA aims to ‘catalyse’ funding to poor munis as it sets R100bn funding goal

By: Terence Creamer 22nd September 2016 The Development Bank of Southern Africa (DBSA) disbursed a record R17.1-billion during its 2016 financial year, up from R13-billion in 2015, with disbursements to the country’s eight metropolitan councils (metros) surging to R7.5-billion from R3.7-billion. CEO Patrick Dlamini said a total of... →

Photo by Duane Daws
Finance Minister Pravin Gordhan and DBSA CEO Patrick Dlamini

Launch of Osprey marks halfway point in TNPA’s R1.4bn tug-building contract

By: Shirley le Guern 20th September 2016 The launch of the Transnet National Ports Authority’s (TNPA’s) Osprey tugboat in Durban harbour on Tuesday marked the halfway point in the port authority’s R1.4-billion tug-building contract. Southern African Shipyards CEO Prasheen Maharaj said at the launch that the Osprey was tangible proof... →

SAA’s losses for 2014/15 almost R1bn more than R4.7bn guarantee

By: News24Wire 20th September 2016 SAA’s losses for the 2014/15 financial year was R5.6-billion – close to R1-billion more than the expected amount of R4.7-billion. This emerged when the national carrier presented its 2014 to 2015 interim financial statements to parliament’s standing committee on finance on Tuesday. →

R5bn SAA guarantee staved off risk for all SOEs – Jonas

By: News24Wire 20th September 2016 If South African Airways had not received a R5-billion going concern guarantee, it would have posed a systemic risk to all state-owned enterprises (SOEs) in South Africa, Deputy Finance Minister Mcebisi Jonas said on Tuesday. Jonas, who made a few introductory remarks, was part of a delegation... →

Myeni to be grilled at parly finance meeting

By: African News Agency 19th September 2016 The Democratic Alliance will attempt to get to the bottom of the myriad issues plaguing South African Airways (SAA) at the scheduled appearance of the SAA board and executive before Parliament’s finance standing committee on Tuesday. The 2014/15 SAA annual financial statements tabled late on... →

Black business pioneer raises concern about IPP uncertainty

By: Terence Creamer 16th September 2016 One of South Africa’s pioneering black-owned companies, Thebe Investment Corporation, says it is critical that the prevailing uncertainty surrounding the future of independent power producers (IPPs) be urgently resolved, saying that the current “confusion is not appreciated” by it and other... →

Thebe executive chairperson Vusi Khanyile

PRASA deal's European 'BEE' partner, arms deal links

By: News24Wire 16th September 2016 A Swiss consulting firm, whose owner had been named in a corruption probe in Italy, may have received at least R4-million thanks to its bizarre BEE stake in PRASA's R51-billion tender for new passenger coaches. Last week, News24 revealed that JSE-listed technology firm EOH had paid R16.5-million... →

Transnet to sue Futuregrowth

By: African News Agency 15th September 2016 Transnet CEO Siyabonga Gama revealed in Parliament on Wednesday that the South African parastatal intends to sue Futuregrowth Asset Management for damages. Briefing Parliament’s portfolio committee on public enterprises, Gama said Transnet had written to Futuregrowth demanding an apology for its... →

Photo by Duane Daws
Transnet CEO Siyabonga Gama

Will nuclear tender ‘lock in’ bid price, energy expert asks

By: Terence Creamer 14th September 2016 A leading energy academic, who is opposed to the imminent issuance of a nuclear tender in the absence of an updated generation plan, says he will be paying close attention to whether the request for proposals (RFP) is a “genuine competitive tender for a fixed-price contract”, or simply a process... →

Photo by Duane Daws
Professor Anton Eberhard

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