South Africa's current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product (GDP), central bank data showed on Thursday. In rand terms the current account deficit narrowed to R70.8-billion in July-September, from a revised R75.3-billion in the previous three-month period.

Rich investors from the Middle East are scouring Africa for deals in agricultural projects, critical minerals and renewable power, according to Citigroup. They’re looking at countries such as Kenya to enhance the Gulf region’s food security, and at South Africa for industrial transactions and renewable power to diversify their economies away from oil, Citigroup’s head [...]

Real estate investment company Fortress Real Estate Investments has revised its distributable earnings forecast for financial year 2025 to R1.78-billion, representing 147.80c a share, a 16.9% increase compared with normalised distributable earnings for financial year 2024. The company says strong demand for secure, high-quality logistics properties has driven low vacancies, by rental, 1.4% in South [...]

In a newly released study, climate and energy strategy advisory firm Meridian Economics has determined that optimally sized batteries offer immediate opportunities for many commercial and industrial firms to reduce their electricity costs. The study, published on December 4, aimed to evaluate the business case for commercial and industrial companies to invest in behind-the-meter batteries. [...]

The South African Nuclear Energy Corporation (Necsa) generated better financial results and audit outcomes during the 2023/24 financial year, the State-owned entity has reported. It credited this improvement to a turnaround strategy that was initiated by its board during the 2021/22 financial year. This strategy involved the restructuring of the group, to create seamless internal [...]

South Africa’s High Court upheld a legal challenge to the government’s plan to procure 1 500 megawatts of new coal-fired power, ruling that it was unlawful because of the potential impact on public health. Plans for more electricity from the dirtiest fossil fuel in South Africa, which has the most carbon-intensive economy among the Group [...]

A R1.5-billion green loan facility secured in 2022 is the significant funding underpin of three solar PV renewable-energy plants being constructed by Harmony Gold at its large Moab Khotsong gold mine in North West province, near Orkney.  The Johannesburg Stock Exchange-listed Harmony anticipates that this latest project will supply about 20% of the peak daytime [...]

Germany has committed further funding of €276.5-million (about R5.2-billion) to South Africa for the period to 2026 to support several initiatives, including skills development and South Africa’s energy transition. The funding was confirmed in a joint statement released following the 2024 Intergovernmental Negotiations on South African-German Development Cooperation held in Berlin from November 25 to [...]

US President Joe Biden landed in Angola on Monday for a visit focused on a US-backed railway project and on the legacy of slavery, but his decision to pardon his son Hunter Biden threatened to overshadow the official agenda. The visit fulfils a promise to visit Sub-Saharan Africa during his presidency and aims to bolster [...]

The City of Tshwane says the agreement with State-owned Eskom to settle the R6.67-billion historical debt it owes to the utility signals a turning point, ending years of costly litigation and redirecting the city's focus toward improving service delivery and enhancing revenue collection systems. The city will adopt stronger financial governance practices to ensure this never [...]

JSE-listed packaging manufacturer Nampak’s turnaround plan has resulted in its earnings before interest, taxes, depreciation and amortisation (Ebitda) increasing by R1.1-billion from R343-million in the prior financial year to R1.5-billion in the financial year ended September 30. Nampak has been undertaking ambitious transformation efforts over the past 12 months, including effective revenue growth and cash [...]

JSE-listed packaging manufacturer Nampak’s turnaround plan has resulted in its earnings before interest, taxes, depreciation and amortisation (Ebitda) increasing by R1.1-billion from R343-million in the prior financial year to R1.5-billion in the financial year ended September 30. Nampak has been undertaking ambitious transformation efforts over the past 12 months, including effective revenue growth and cash [...]