https://www.engineeringnews.co.za
R/€ = 16.87 Change: -0.01
R/$ = 15.71 Change: -0.01
Au 1851.30 $/oz Change: 3.26
Pt 952.00 $/oz Change: 4.50
 

State Companies News

Meeting between Brown, Old Mutual and Futuregrowth postponed to Sept 13

By: Creamer Media Reporter      8th September 2016 The Department of Public Enterprises reported on Thursday that a meeting between Minister Lynne Brown and the CEOs of Old Mutual and Futuregrowth Asset Management, which had been scheduled for September 8, had been postponed until September 13. Brown, who is Shareholder Minister for Eskom and... 

Investec says release of updated IRP could ease IPP frustration and uncertainty

By: Terence Creamer     7th September 2016 Banking group Investec, which has supported various renewable energy and peaking power projects in South Africa, including the Avon and Dedisa open cycle gas turbines that recently entered commercial operation, remains convinced that the country will continue with its independent power producer... 

The Avon peaking power plant
The Avon peaking power plant

Agreement to build the Moloto Rail Development Corridor signed in China 

By: African News Agency      7th September 2016 The Passenger Rail Agency of South Africa (PRASA) has signed a memorandum of understanding (MoU) with China Communications Construction Company to build the Moloto Rail Development Corridor, the Presidency said on Wednesday. In a statement, the Presidency said the MoU to explore various... 

New SAA board shows Cabinet taking responsibility – Mkhize 

By: News24Wire      7th September 2016 The appointment of a new South African Airways (SAA) board is a step forward, says Zweli Mkhize, ANC treasurer general. Mkhize was addressing media and business leaders at the Sanlam offices in Sandton, on Tuesday night. Mkhize shared his thoughts on the economic outlook for the country and the... 

New SAA board shows Cabinet taking responsibility – Mkhize

Brown to meet Futuregrowth, Old Mutual after ‘unfortunate’ funding suspension

By: Terence Creamer     6th September 2016 Public Enterprises Minister Lynne Brown, who is Shareholder Minister for Eskom and Transnet, will meet with the CEOs of Old Mutual and Futuregrowth Asset Management on September 8, following Futuregrowth’s suspension of financing to six State-owned Companies (SoCs), owing to governance concerns.... 

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

DA set to square off with Cabinet in high court over Dudu Myeni’s reappointment to SAA

By: African News Agency      5th September 2016 The Democratic Alliance (DA) on Monday announced it would be taking a decision by Cabinet to reappoint Dudu Myeni as South African Airways board chairwoman on review in the Western Cape High Court. “The DA is of the strong opinion that there is a prima facie case to be made that Ms Myeni’s... 

DA set to square off with Cabinet in high court over Dudu Myeni’s reappointment to SAA

TNPA to boost dredging skills through launch of R30m simulator

By: Shirley le Guern     5th September 2016 Transnet National Ports Authority (TNPA) has launched Africa’s first dredging simulator – a computerised training cockpit for aspirant dredger operators – in Durban.  The dredging simulator is located at Durban’s Maritime School of Excellence (MSoE) and will form the core of the school’s newly... 

TNPA to boost dredging skills through launch of R30m simulator

Myeni reappointed SAA chairperson

By: African News Agency      2nd September 2016 Contentious South African Airways (SAA) chairperson Dudu Myeni has been reappointed to the post, a Cabinet statement released on Friday said. Former SAA CFO Tryphosa Ramano will serve as deputy chairperson. 

Myeni reappointed SAA chairperson

South African parastatals credible, reliable borrowers, says Brown

By: African News Agency      2nd September 2016 Public Enterprises Minister Lynne Brown on Thursday moved to assure investors that South Africa’s parastatals were on solid footing as she responded to news that a second money manager would suspend lending to the country’s state-owned companies. “I want to assure all lenders and investors that... 

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

Eskom, Transnet say liquidity not immediately affected by Futuregrowth suspension 

By: Terence Creamer     1st September 2016 State-owned electricity utility Eskom and freight logistics group Transnet insisted on Thursday that their immediate liquidity was not threatened by the announcement by Futuregrowth Asset Management that it was suspending additional loans to six State-owned companies (SoCs), including Eskom and... 

Eskom CFO Anoj Singh
Photo by Duane Daws
Eskom CFO Anoj Singh

Editorial: Decisive leadership needed to address IPP impasse and industry structure 

By: Terence Creamer     1st September 2016 Eskom's hostility towards independent power producers (IPPs) can no longer be disputed, or ignored. The antagonism has also brought to the fore the oft-repeated warning about the genuine risk associated with the current structure of the industry, where IPPs are beholden to a dominant competitor... 

Editorial: Decisive leadership needed to address IPP impasse and industry structure

Suspension of loans is 'erroneous' – ANC

By: News24Wire      1st September 2016 It was an unfortunate mistake to suspend loans to State Owned Enterprises, the ruling African National Congress (ANC) said on Thursday. This comes hours after Futuregrowth Asset Management announced it was suspending its loans due to possible “patronage network” and “conflicts” in government. 

Suspension of loans is 'erroneous' – ANC

Molefe urges municipalities to move to prepaid electricity meters

By: Kim Cloete     1st September 2016 Eskom CEO Brian Molefe says municipalities that have electricity arrears, should enter into an agreement to allow Eskom to install prepaid meters for customers. He also anticipates a complete move to prepaid meters in the long term. “[In the] long-term, South Africa should move to prepaid... 

Gordhan denies snubbing Hawks

By: News24Wire      1st September 2016 Finance Minister Pravin Gordhan repeatedly offered the Hawks his assistance, but the law enforcement agency did not take him up on his invitation, his lawyers said in a strongly-worded statement on Thursday. The way in which the Hawks acted after they sent Gordhan a letter telling him to come to... 

Finance Minister Pravin Gordhan
Photo by Duane Daws
Finance Minister Pravin Gordhan

I am captured by the Constitution, not by the Guptas, says Molefe 

By: Kim Cloete     31st August 2016 Eskom CEO Brian Molefe has strongly rejected allegations that he undermined and blocked a review by National Treasury into the utility's coal contracts with Gupta-linked company Tegeta Exploration and Resources. “I am captured by the Constitution, not by the Guptas,” said Molefe, fielding... 

Eskom CEO Brian Molefe
Eskom CEO Brian Molefe

IDC aims to grow approvals beyond R14.5bn in 2017, despite impairment worry

By: Terence Creamer     31st August 2016 The Industrial Development Corporation (IDC) has committed to continue increasing its level of finance approvals and disbursements, despite a surge in impairments to over R3-billion. Funding approvals increased to a record R14.5-billion during 2016 from R11.5-billion a year earlier, while... 

Economic Development Minister Ebrahim Patel and IDC CEO Geoffrey Qhena
Photo by Duane Daws
Economic Development Minister Ebrahim Patel and IDC CEO Geoffrey Qhena

SAA warned to file financials, overhaul board 

By: News24Wire      31st August 2016 The much-delayed tabling of South African Airways' (SAA's) annual financial statements has now dragged on for an unacceptably long time and all concerned must urgently get the matter resolved, Parliament's Standing Committee on Finance said on Wednesday. It expressed concern about reports that... 

Amid worries over IPP-programme credibility, Eskom says issues being resolved

By: Terence Creamer     31st August 2016 A South African solar industry body has warned that the credibility of the country’s much-vaunted Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) is being threatened by ongoing delays to the programme, as well as uncertainty over Eskom’s willingness to conclude power... 

Amid worries over IPP-programme credibility, Eskom says issues being resolved

Denel defies Treasury on VR Laser 

By: African News Agency      31st August 2016 The National Treasury on Wednesday declined to be drawn into a public spat with Denel after the State-owned defence conglomerate publicly defied and accused it of political “grandstanding” for trying to stop a joint venture company linked to the controversial Gupta family, Denel Asia. This... 

Denel defies Treasury on VR Laser

ANC never received R80m – Mantashe on PRASA bribery claims

By: News24Wire      31st August 2016 The African National Congress (ANC) has denied claims that it received R80-million from the Passenger Rail Agency of South Africa (PRASA). The political party announced outcomes from its national working committee meeting, which sat on Monday to discuss a number of issues, including the public... 

ANC secretary general Gwede Mantashe
ANC secretary general Gwede Mantashe

IDC seeks strategic partner for struggling Scaw unit

By: Terence Creamer     30th August 2016 The Industrial Development Corporation (IDC) has initiated a process to find a strategic equity partner for its struggling steel subsidiary Scaw Metals, which reported a loss of over R1-billion for 2016. Speaking at the IDC’s financial results at the Coega Industrial Development Zone, in the... 

IDC CEO Geoffrey Qhena
Photo by Duane Daws
IDC CEO Geoffrey Qhena

Eskom’s IPP pushback continues despite Cabinet endorsement 

By: Terence Creamer     30th August 2016 Despite Cabinet having insisted at its recent lekgotla that South Africa has no intention of “changing course midstream” in its support of the independent power producer (IPP) programme and notwithstanding that all determinations are in terms of official Ministerial determinations, State-owned... 

Eskom’s IPP pushback continues despite Cabinet endorsement

PRASA finances stabilising, but there is significant room for improvement – Letsoalo 

By: Megan van Wyngaardt     29th August 2016 Despite recording R13.9-billion in irregular expenditure during the 2015/16 financial year, State-owned Passenger Rail Agency of South Africa (PRASA) still received an unqualified audit opinion from the Auditor-General. Speaking at a media briefing at its offices in Pretoria, PRASA acting CEO... 

PRASA finances stabilising, but there is significant room for improvement – Letsoalo

SAA's R16bn loan appeal more proof for business rescue – DA 

By: News24Wire      29th August 2016 South African Airways’ (SAA) advert for a tender of R16-billion indicates the desperate financial position the airline is in and it should therefore be placed under business rescue, the Democratic Alliance (DA) said on Monday. The cash-strapped national carrier has turned to banking and... 

SAA's R16bn loan appeal more proof for business rescue – DA

Treasury, Eskom in war of words over cooperation in coal-contract review 

By: Terence Creamer     29th August 2016 The National Treasury has strongly disputed Eskom’s contention that it has been cooperating with its review of coal contracts involving the Gupta-family-linked Tegeta Exploration and Resources, indicating rather that its “efforts have met resistance” from the utility. It also disputed Eskom’s... 

Treasury, Eskom in war of words over cooperation in coal-contract review

Eskom may re-advertise nuclear notices after noncompliant E Cape notice

By: Terence Creamer     26th August 2016 State-owned electricity utility Eskom may re-advertise notices relating to its Nuclear Installation Site Licence (NISL) applications for Thyspunt, in the Eastern Cape, and Duynefontyn, in the Western Cape, having acknowledged that a notice published in the Eastern Cape Provincial Gazette on... 

Eskom may re-advertise nuclear notices after noncompliant E Cape notice

ANC denies it benefited from PRASA deal

By: News24Wire      26th August 2016 The African National Congress (ANC) has rejected allegations that the party had been implicated in alleged bribery by a supplier of locomotives to the Passenger Rail Agency of South Africa (PRASA). News24 on Friday morning reported that PRASA chairperson Popo Molefe had filed new court papers in... 

ANC denies it benefited from PRASA deal

New tug fleet will enable SA ports to handle larger vessels

By: David Oliveira     26th August 2016 As part of parastatal Transnet’s Market Demand Strategy (MDS), Transnet National Port Authority (TNPA) will spend about R56-billion by 2019 to improve efficiencies of South Africa’s ports, including a R1.4-billion tugboat replacement project. The contract, which was awarded to local shipbuilding... 

New tug fleet will enable SA ports to handle larger vessels

Outa slates SAA board member for resigning 

By: Megan van Wyngaardt     25th August 2016 The Organisation Undoing Tax Abuse, or Outa, on Thursday lambasted State-owned enterprise South African Airways’ (SAA’s) Yakhe Kwinana for stepping down from its board. Media reports earlier this week stated that Kwinana was resigning, having said that, “it has come to a stage where I had to... 

Outa slates SAA board member for resigning

Bombardier opens new propulsion equipment production site in Isando 

By: Megan van Wyngaardt     25th August 2016 Rail technology provider Bombardier Transportation on Thursday inaugurated a new 6 000 m2 production site and headquarters in Isando. The facility will produce Bombardier Mitrac high-power propulsion equipment for use in the Transnet locomotives project, for which Bombardier is delivering 240... 

Per Almer, Siyabonga Gama and Richard Seleke
Bombardier has opened a new propulsion equipment manufacturing facility in Isando. Video and editing: Nicholas Boyd.

Nersa committee recommends that RCA judgment be appealed 

By: Terence Creamer     24th August 2016 The National Energy Regulator of South Africa’s (Nersa’s) electricity subcommittee will recommend that the Energy Regulator, which meets on Thursday, appeal the recent High Court judgment setting aside its Regulatory Clearing Account (RCA) determination, which enabled Eskom to increase its tariff... 

Nersa’s Thembani Bukula
Photo by Duane Daws
Nersa’s Thembani Bukula

Outa, SAA whistleblower claim victory over SAA

By: Sane Dhlamini     24th August 2016 State-owned South African Airways (SAA) on Monday agreed to hold suspended SAA group treasurer Cynthia Stimpel’s disciplinary hearing at the Commission for Conciliation, Mediation and Arbitration (CCMA) following her defensive challenge in the Labour Court. The matter will be heard by an... 

Outa, SAA whistleblower claim victory over SAA

Govt sheds light on Zuma's role as head of SOCs

By: News24Wire      24th August 2016 The government clarified President Jacob Zuma’s role in the leadership of state owned companies (SOCs) on Tuesday, amid allegations of state capture where the Guptas use their friendship with Zuma as a way of winning contracts in the critical sector. The Guptas have been central figures in the... 

President Jacob Zuma
Photo by Duane Daws
President Jacob Zuma

Govt, AMSA reach accord on steel price basket

By: Kim Cloete     23rd August 2016 Steel producer ArcelorMittal South Africa (AMSA) and government have agreed to remove import parity pricing with immediate effect in a bid to boost South Africa’s steel industry. The local price for flat steel products will be based on an import-weighted basket. 

Govt, AMSA reach accord on steel price basket

Eskom under fire as Ingula costs said to balloon to R36bn 

By: News24Wire      22nd August 2016 Eskom’s board is facing calls to appear before Parliament with documents relating to the Ingula pumped storage scheme, which has allegedly seen costs spiral from R8.9-billion to R36-billion. On July 27, President Jacob Zuma unveiled the first of four turbines at Ingula, which is on the border of... 

New unit to be set up to oversee rail local-content push

By: Terence Creamer     22nd August 2016 The Department of Public Enterprises and National Treasury will consolidate procurement for locomotives into a single institution, under Transnet, to ensure “efficiency and compliance with the localisation requirements”. The decision to set up the unit was made at the recent Cabinet lekgotla,... 

New unit to be set up to oversee rail local-content push

South Africa won’t change IPP course ‘midstream’ 

By: Terence Creamer     22nd August 2016 Cabinet appears to have put paid to Eskom efforts to halt the country’s highly regarded independent power producer (IPP) programme, with Minister in The Presidency for Performance Monitoring and Evaluation Jeff Radebe indicating on Monday that there was no intention to “change course midstream”.... 

Minister in The Presidency Jeff Radebe
Minister in The Presidency for Performance Monitoring and Evaluation Jeff Radebe on South Africa's commitment to the IPP programme. Camera Work & Editing: Nicholas Boyd. Recorded: 22.8.2016
76 77 78 79
80
81 82 83 84
 

Latest News

more

Latest Videos

more

Projects

more

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now
Free daily email newsletter Register Now