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

African Rainbow Capital’s portfolio expands on back of fair value gains

JSE-listed African Rainbow Capital’s (ARC’s) intrinsic portfolio value increased by 16.3% from R10.55-billion as at June 30, 2020, to R12.27-billion as at June 30, this year. Net fair value gains accounted for R909-million of the increase and net investments for the remaining R810-million increase.

South Africa’s green energy push hinges on R402bn debt fix

The head of South Africa’s State power utility needs to substantially reduce its R402-billion of debt to realise his vision of transforming the coal-addicted behemoth into a leading green-energy producer and create as many as 300 000 jobs in the process. Eskom Holdings supplies more than 90% of the nation’s electricity, the bulk of it [...]

Bids sought for socioeconomic study into Eskom’s coal repowering and repurposing plan

A global coalition set up to support countries in implementing the carbon-reduction pledges contained in their Nationally Determined Contributions (NDCs) has announced that it will fund a study to assess the socioeconomic impacts of the shutdown, repowering and repurposing of seven Eskom coal-fired power stations. Following a request for assistance from South Africa’s Department of [...]

Satsa advocates for UK to move South Africa to its ‘amber’ list

The Southern Africa Tourism Services Association (Satsa) has called on the UK government to move South Africa to its amber list in the next traffic light review, which is likely to take place later this week. The UK imposed a traffic light system to determine the correct Covid-19 precautions related to travellers, which is reviewed [...]

Green Connection calls for scrapping of the RMIPPPP

Nonprofit organisation Green Connection believes the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) has failed in its objective to get power onto the grid. Green Connection strategic lead Liziwe McDaid says the Department of Mineral Resources and Energy ought to scrap the programme.

Broadening ESG has provided clear paths to economic benefit – Sibanye-Stillwater

Sustainability is not a function of compliance but rather a strategic imperative to change the role that mining plays in society and in economies, says Sibanye-Stillwater senior vice-president and head of sustainability Loyiso Ndlovu. “We do this by sticking to the knitting in being miners, and then supporting the growth of new economies in a [...]

Municipalities improve on underspending in 2020/21

The National Treasury has noted, in a preliminary quarterly report, that municipalities spent 91.9% of the total adjusted expenditure budget that was afforded to local government in the 2020/21 financial year. Municipalities spent R446-billion of the allocated R485-billion for the financial year.

Sapia warns South Africa’s refinery fleet could quickly become obsolete under new regulations

Industry body the South Africa Petroleum Industry Association (Sapia) says in a statement that it has received confirmation from the Department of Mineral Resources and Energy (DMRE) that the new regulations regarding Petroleum Products Specification and Standards have been gazetted. These Petroleum Products Specification and Standards mandate the use of ultra-low sulphur petrol and diesel products [...]

ABB launches new Digital Solutions Centre in Johannesburg

Automation company ABB on September 9 unveiled its new South African Digital Solutions Centre, which aims to help companies across industries to overcome their most pressing technology and digitalisation challenges. The centre, which is based at ABB’s Longmeadow facility, in Johannesburg, gives customers in the energy, mining and mineral resources, manufacturing, process industries, transportation and [...]

DNG welcomes postponement of hearing into Karpowership’s RMIPPPP award

Gas-to-power solutions provider DNG Energy has welcomed the decision of the Hight Court in Pretoria to grant its request for the postponement of an application to have the selection of Karpowership South Africa as a preferred bidder in the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) set aside. DNG embarked on legal action in April, alleging corruption in the bidding process. Karpowership and [...]

South Africa’s record current-account surplus misses estimates

South Africa’s current-account surplus for the second quarter missed estimates even as it widened to a record amid improving economic activity and growing exports following the easing of restrictions to curb the spread of Covid-19. The balance on the current account, the broadest measure of trade in goods and services, widened to an annualized surplus [...]

Suntech Solar launches court bid against the DTIC over RMIPPPP exemptions

Local renewable energy supplier Suntech Solar Power South Africa has launched proceedings in the High Court seeking to interdict and set aside the “selective and unlawful” exemptions granted by the Department of Trade, Industry and Competition (DTIC) in respect of the current round of the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP). Prior to [...]