Despite South Africa’s economy being “not a great environment” currently, economic consultancy Econometrix director and chief economist Dr Azar Jammine said South African business has shown typical resilience, ensuring “things are not collapsing completely”. Speaking at the yearly post-Budget breakfast event hosted by construction materials company AfriSam on February 24, he said business resilience gave him [...]

There is a gap between the media and scientists, which impacts on the way that information is shared between the two entities and then disseminated to the public; however, there are measures that can be undertaken on both sides to bridge this. This was indicated by speakers during the Oppenheimer Generations Research and Conservation’s  webinar [...]

Mineral Resources and Energy Minister Gwede Mantashe says that former Eskom CEO André de Ruyter "must not throw a stone in a bush and hope an animal will come out" - he must name the politicians he claimed were corrupt.  Mantashe was briefing Parliament's portfolio committee on mineral resources and energy on Friday. He was asked [...]

Mineral Resources and Energy Minister Gwede Mantashe says that former Eskom CEO André de Ruyter "must not throw a stone in a bush and hope an animal will come out" - he must name the politicians he claimed were corrupt.  Mantashe was briefing Parliament's portfolio committee on mineral resources and energy on Friday. He was asked [...]

A new study from Juniper Research has found that revenue from electric vehicle (EV) charging will exceed $300-billion globally by 2027, up from $66-billion in 2023.  The report – ‘EV Charging: Key Opportunities, Regional Analysis & Market Forecasts 2023-2027’ – also found that fragmentation in charging networks is restricting EV adoption.

Diamond company De Beers last year delivered a revenue of $6.6-billion and earnings before interest tax depreciation and amortisation (Ebitda) of $1.4-billion built on operational excellence across its producing assets. Rough diamond production increased by 7% to 34.6-million carats, reflecting strong operational performance and higher planned levels of production to meet continued strong demand for [...]

In response to the Budget Speech delivered by Finance Minister Enoch Godongwana on February 22, a number of organisation have lauded the incentives that were announced to help businesses and households install renewable energy systems. However, many also flagged rising debt, with government taking over R254-billion of State-owned Eskom’s debt to help it restructure, as [...]

UK-based global major power and propulsion systems group Rolls-Royce released its results for 2022 on Thursday. It reported that last year it had recorded improvements in its orders, revenue, profit and cash flow. It also reduced its net debt. The group reported underlying revenues for last year of £12.691-billion (as against £10.947-billion in 2021) and [...]

JSE-listed Blue Label’s core businesses continued to generate further growth in revenue, gross profit and core headline earnings per share during the six month ended November 30. Revenue for the six months under review reached R9.8-billion, up 8% from R9.1-billion in the prior corresponding period, the company said in its financial results statement on Thursday.

Distell Group boosted revenue in South Africa and across the continent as a deal between the country’s biggest wine exporter and Heineken NV continues to go through a regulatory approval process. While Heineken’s offer of about €2.3-billion for Distell has got support from local shareholders, the final steps to buy the wine, brandy, liqueur and [...]

Minerals Council South Africa welcomed the government’s intervention on Eskom’s debt and the financial encouragement to stimulate businesses building renewable energy projects by offering generous tax incentives as outlined in the 2023 Budget Speech. The Minerals Council believes there should be further support from the government in implementing the solutions being developed in the Transnet [...]

Engineering News editor Terence Creamer gives an overview of the 2023 Budget delivered by Finance Minister Enoch Godongwana, including the announcement of a R254-billion Eskom debt-relief package and the conditions that apply to that package; the assumption that it would only work in tandem with tariff hikes and the user-pays principle being honoured; and the [...]