News2018-08-01T16:20:10+01:00

Vinpro approaches High Court to lift alcohol sales ban for the Western Cape

Industry body Vinpro has approached the Cape High Court in efforts to secure urgent interim relief for the wine industry amid the third ban on alcohol sales in the last ten months. The organisation says that, following a hearing that is set down for February 5, the court could afford permission to Western Cape Premier [...]

Global crude steel output down 0.9% y/y in 2020

Global crude steel production decreased by 0.9% year-on-year to 1.86-billion tonnes for2020, industry association the World Steel Association (worldsteel) reports. South Africa produced 3.9-million tonnes of crude steel, a significant decrease from the 6.2-million tonnes produced in 2019.

AfDB launches $25bn programme to help Africa adapt to climate change

African Development Bank (AfDB) president Akinwumi Adesina launched the Africa Adaptation Acceleration Program (AAAP) on January 25 to mobilise $25-billion to scale up and accelerate climate change adaptation actions across Africa. The launch announcement occurred during the Climate Adaptation Summit 2021, hosted by the government of the Netherlands and the Global Centre on Adaptation (GCA).

Govt launches R1.2bn Tourism Equity Fund

The Department of Tourism has launched the R1.2-billion Tourism Equity Fund (TEF), aimed at driving transformation in the tourism sector. The fund has been established in partnership with the Small Enterprise Finance Agency (Sefa) as a new financial support mechanism to stimulate investment and transformation in the tourism sector.

Aveng to raise R300m to restructure balance sheet, pay debt

Construction company Aveng intends to raise R300-million by way of a fully co-underwritten renounceable rights offer so that it may restructure its balance sheet, which will allow the group to reset its capital structure. The rights offer comprises up to 20-billion ordinary no par value shares in Aveng and as many class A shares that [...]

Eskom approaches court to have R23bn equity injection added back this year

State-owned electricity utility Eskom will make the case later this month for the immediate execution of a High Court order stipulating that an amount of R23-billion stripped unlawfully from its allowable revenue in 2019 by the National Energy Regulator of South Africa (Nersa) be added back during its 2021/22 financial year. Should it succeed, the [...]

Biden signs ‘Buy American’ order, pledges to renew US manufacturing

President Joe Biden vowed on Monday to leverage the purchasing power of the US government, the world's biggest single buyer of goods and services, to strengthen domestic manufacturing and create markets for new technologies. The Democratic president signed an executive order aimed at closing loopholes in existing "Buy American" provisions, which apply to about a [...]

Opinion: District Development Model must embrace science to achieve inclusivity

In this opinion article, Bongani Mankewu explores the factors that could improve District Development Model outcomes. Policy is a product of science and politics. This structural definition borrows from the fundamental work of Francis Bacon (1974) and appreciates that while the utilization of science will be undermined by politics, a policy ought to regardless be driven mainly by science. [...]

FDI flows likely to remain weak in 2021

The United Nations Conference on Trade and Development (Unctad) reports that global foreign direct investment (FDI) collapsed in 2020, decreasing by 42% to an estimated $859-billion, compared with about $1.5-trillion in 2019. FDI finished the year more than 30% below the trough after the global financial crisis in 2009 and was back at a level [...]

UFS to undertake trial to determine efficacy of Ivermectin for treating Covid-19

University of the Free State (UFS) clinical research company FARMOVS, together with several medical and scientific experts at the university, is in the process of preparing a clinical trial protocol to determine the efficacy of Ivermectin for treating Covid-19 in a randomised, controlled study according to the requirements of the legal professions, to submit it [...]

Evaluation of emergency-power bids ‘by February’, with renewables bidding to open in …

The evaluation of the 28 bids received under South Africa’s Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) is anticipated to be concluded by February 2021, the IPP Office has confirmed with Engineering News. The preferred bidders, it adds, will be announced as soon as the recommendations from the evaluation team have been approved by [...]