South Africa achieved its first primary budget surplus in 15 years as it took a stern approach to funding State-owned companies that have drained government finances. Africa’s most-industrialised economy posted a primary surplus — when revenue exceeds non-interest expenditure — of R31.6 billion or 0.4% of gross domestic product in the year through March 2024, [...]

South Africa recorded foreign direct investment inflows of R24.4-billion in the first quarter of 2024, up from a revised R2.5-billion in the previous quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were largely due to the acquisition of a local vehicle-tracking company by [...]

The South African government and industry organisations have requested that two panels be established at a meeting of the Dispute Settlement Body (DSB) of the World Trade Organisation (WTO) to examine the stringent citrus import measures being imposed on South Africa by the European Union (EU). The local stakeholders wish to address regulations around citrus [...]

The City of Cape Town has secured a further R3.5-billion in financing towards its plans to spend a record amount on infrastructure investment over the three years to 2027. Mayor Geordin Hill-Lewis conducted the signing ceremony with Nedbank on June 24, after the council greenlighted the financing on June 12.

The Oppenheimer Memorial Trust has announced that the first winner of its New Frontiers Research Award is University of Cape Town (UCT) physicist, Dr James Keaveney. The trust created the award to help reinvigorate research excellence in South Africa (in 2021/22 the country spent only 0.62% of its GDP on research and development; in comparison, [...]

South Africa is risking a $9.3-billion climate finance pact by delaying the closing of a number of coal-fired power plants, a panel appointed by the country’s environment minister said. In an agreement known as the Just Energy Transition Partnership, South Africa won the bulk of the pledges from some of the world’s richest nations in [...]

Cement company PPC has reported a 20.6% year-on-year increase in revenue to about R10-billion for the financial year ended March 31, compared with the R8.3-billion in revenue reported for the prior financial year. At the release of its financial results, on June 24, the company said this growth was primarily driven by the company's performance [...]

In response to a recent Johannesburg High Court order favouring State-owned utility Eskom in a payment dispute with the City of Johannesburg (CoJ) and City Power, the CoJ and City Power say the court did not fully consider critical aspects of the evidence.  “While we accept and respect the court’s decision, the city reserve[s] the [...]

Ahead of President Cyril Ramaphosa’s much anticipated new Cabinet appointments, the Organisation Undoing Tax Abuse is urging him not to reappoint Minister of Mineral Resources and Energy Gwede Mantashe, Higher Education Minister Dr Blade Nzimande and Transport Minister Sindisiwe Chikunga. Outa also suggests that Ramaphosa consider reducing the size of the new Cabinet. Outa CEO [...]

The University of Fort Hare, where the offspring of mineworkers were the first graduates, has agreed a R12.5-million, initial ten-year academic partnership with a gold mining major AngloGold Ashanti, which no longer mines in this country and is now domiciled in the London. Fort Hare is the university where the globally illustrious Nelson Mandela began [...]

China's nickel giant Tsingshan Holding Group has started production at its $1-billion steel plant in central Zimbabwe, a company official said on Thursday. Tsingshan's Dinson Iron and Steel Company will produce 600 000 metric tons of carbon steel annually during the first phase of its operations, project director Wilfred Motsi told reporters during a tour [...]

Green copper and clean smelting and refining are envisaged at Orion Minerals’ quickly advancing base metals mines in South Africa’s well-endowed Northern Cape province, which has historically produced 2.5-millon tons of copper until base metal mining ceased there several decades ago. The fully permitted and already reviving Prieska mine will begin producing its first saleable [...]