JSE-listed retailer Massmart, in a trading statement, said total group sales for the 26-week period to June 26, amounted to R41.3-billion, broadly in line with the same period in 2021. Sales from continuing operations, which excludes Cambridge, Rhino and Massfresh, amounted to R38.1-billion, which is an increase of 1.9% over the prior comparable period, with [...]
Royal Bafokeng Platinum CEO Steve Phiri on Tuesday applauded President Cyril Ramaphosa’s energy plan, which involves the introduction of new generation capacity to the grid as quickly as possible to give Eskom the required headroom to carry out much-needed maintenance on its ageing coal fleet. Royal Bafokeng Platinum is a community-controlled mid-tier platinum group metals [...]
The case involving former Eskom managers accused of fraud, corruption and money laundering, related to a deal at the Kusile power station, has once again been postponed. On Tuesday, the power utility's former senior manager France Hlakudi appeared at the Palm Ridge Specialised Crimes Court in Johannesburg.
JSE-listed Telkom has reported a decline in earnings during the first quarter of the year, impacted by topline performance and an increase in its cost base. During the three months to June 30, Telkom’s group earnings before interest, tax, depreciation and amortisation (Ebitda) declined 15.2% year-on-year to R2.33-billion, with Ebitda margin contracting 3.2 percentage points [...]
Mineral Resources and Energy Minister Gwede Mantashe reported that the bid submission deadline for Bid Window Six (BW6) of the Renewable Energy Independent Power Producer Procurement Programme would be delayed by between 45 and 60 days to ensure procedural fairness in light of President Cyril Ramaphosa’s announcement that the size of the round would be [...]
State-owned defence company Denel has paid overdue salaries of about R300-million to trade union Solidarity members and other employees, and has reached a settlement with Solidarity on the R90-million still owed to Solidarity members. This settlement comes after Solidarity obtained a court order to seize Denel’s assets and bank account. Solidarity had been due to [...]
Zimbabwean President Emmerson Mnangagwa will visit Mozambique and Zambia in a bid to save the country's electricity import contracts that are being eyed by Eskom. Mnangagwa's trips come at a time when South Africa, which is undergoing an electricity crisis, seeks to replace Zimbabwe as an importer of electricity from Mozambique and Zambia. "This week [...]
Ford is starting to wrap up its R15.8-billion investment in its South African assembly facilities to produce the new Ranger pickup, with mass production for the local and export markets scheduled to start in October. The vehicle will be exported to more than 100 markets.
Nedbank Group wants to almost double its lending to green energy projects in South Africa over the next two years as it seeks to cement its position as a market leader in funding renewable power projects. The bank’s lending toward the government’s Renewable Independent Power Producer Programme – aimed at boosting privately generated electricity in [...]
South Africa recorded a trade surplus of R24.23-billion in June, down from a revised surplus of R30.85-billion in May, data from the revenue service showed on Friday. Exports rose 1.6% month on month to R184.61-billion, while imports were up 6.3% at R160.38-billion, the South African Revenue Service said.
Traffic on the N2 between the KwaMashu interchange and Umdloti bridge will be disrupted over the next two months to bring in and place concrete barriers alongside the median to protect workers building a median barrier wall and additional lanes, the South African National Roads Agency Limited (Sanral) says. “The work being done here is [...]
Ford South Africa (SA) has unveiled a completely new body shop for the assembly of the new-generation Ranger bakkie at its Silverton plant, in Pretoria, featuring the plant’s highest-ever levels of automation and quality control. The new body shop forms part of a R15.8-billion investment by the US vehicle manufacturer in its South African operations [...]