Creecy says a climate finance breakthrough is key to COP26 success

South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy says a breakthrough is needed at COP26 on the issue of climate finance, warning that the failure of developed countries to honour their $100-billion-a-year commitments has led a breakdown of trust. Addressing a virtual stakeholder consultation session on South Africa’s position ahead of the upcoming [...]

AIIM successfully raises R5bn for infrastructure in SADC

Private equity fund manager African Infrastructure Investment Managers (AIIM) has successfully completed a capital increase of R5.5-billion for its flagship Southern African Development Community (SADC) infrastructure fund called the Ideas Managed Fund. The fundraise exceeds an initial R4.5-billion target by 20%, taking the size of the open-ended fund to more than R22-billion.

Eskom seeks urgent court order to have 2022/23 tariff application adjudicated by Nersa

State-owned electricity utility Eskom has approached the Gauteng High Court to have the regulator’s recent decision to reject its revenue application for the period 2022/23 to 2024/25 set aside for being “patently irrational and unlawful”. Eskom approached the court this week for a review of the National Energy Regulator of South Africa’s (Nersa’s) September 30 [...]

Jaguar Land Rover trials world-first digital supply chain for leather using blockchain technology

Jaguar Land Rover has trialled the use of secure blockchain technology “to ensure full transparency within a sustainable leather supply chain”. In the world-first, the British automaker partnered with supply chain traceability provider Circulor, UK leather manufacturer Bridge of Weir Leather Company, and the University of Nottingham to trial the use of traceability technology in the leather [...]

Zambia’s State power firm Zesco has $3.5bn debt – energy minister

Zambia's State power utility Zesco had a total debt of $3.5 billion as at September 2021, Energy Minister Peter Kapala told parliament on Friday. He added that Zesco had made $400 million in loses between 2018 and 2019 owing to the depreciation of the local Kwacha currency.

South Africa’s banks say they can’t cut off funding for coal just yet

South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation that relies on the most polluting of fossil fuels. The top four banks have started to withdraw financing, with Nedbank and FirstRand setting deadlines of [...]

Coca-Cola seeks $8bn value in Africa bottler IPO

Coca-Cola is seeking a value of €7-billion ($8.1-billion) for Coca-Cola Beverages Africa when it lists the bottler next year, according to people familiar with the matter. The soft drinks giant is poised to appoint Bank of America Corp., Morgan Stanley and Standard Bank Group to run the initial public offering, the people said, asking not to be [...]

Eskom aiming to secure concessional funding for R400bn just energy transition project pipeline

State-owned electricity producer Eskom has identified a pipeline of ‘just energy transition’ projects valued at about R400-billion that it will seek to fund using concessional finance raised from international financiers that have committed to supporting decarbonisation initiatives in developing countries, including South Africa. Just Energy Transition GM Mandy Rambharos reported on Thursday that the pipeline [...]

Logistics becoming a pertinent woe in agri sector, Ministers agree

Agriculture, Land Reform and Rural Development Thoko Didiza and Public Enterprises Minister Pravin Gordhan have both acknowledged the challenge that logistics has become in the agricultural industry, particularly over the last year. Speaking during industry organisation Agri SA’s annual general meeting on October 14, Gordhan mentioned that State-owned Transnet was considering various initiatives to improve [...]

Vaal SEZ to become South Africa’s ‘pre-eminent hub for the hydrogen economy’

Vaal Special Economic Zone (SEZ) programme director Xola Sithole says the SEZ is seeking to position itself as South Africa’s “pre-eminent hub for the hydrogen economy”. In so doing, he says, the SEZ will participate in developing the hydrogen market primarily for Gauteng, and beyond, while simultaneously providing established hydrogen-based energy security for the businesses [...]

Agriculture cannot prosper if govt allows intellectual capital to emigrate, says Agri SA

Speaking during Agri SA’s annual general meeting (AGM) on October 14, outgoing president Pierre Vercueil highlighted how a defensive approach to land reform was of no help to anyone. He referred to the various pieces of legislation being amended or instituted – including the Deeds Registries Amendment Bill, the Land Court Bill, labour tenancy claims [...]