PPS highlights good value return to members in challenging 2023
The Professional Provident Society (PPS), the financial services group focused solely on providing customised financial services solutions for graduate professionals in South Africa and Namibia, says in a statement that it returned “exceptional value” to its members last year, as operating performance improved. The group announced total profits that were added to its members’ notional [...]
South Africa needs 13 GW of gas-to-power capacity – more than the IRP envisions
Standard Bank head of Southern Africa’s oil and gas coverage Paul Eardley-Taylor has suggested that South Africa needs 13 GW of gas-to-power (GtP) capacity, rather than the 7.2 GW to 8.6 GW outlined in the draft Integrated Resource Plan 2023. Speaking at mine ventilation solutions developer Howden’s Technology Day, hosted at Mintek, in Johannesburg, on [...]
Minerals Council South Africa setting out to boost local demand for green hydrogen
Minerals Council South Africa is focused on increasing the domestic demand for green hydrogen, which it sees as contributing to the kickstarting of the hydrogen economy in South Africa. “The applications that we’re looking at are stationary as well as mobility applications of using hydrogen within the mining industry,” Minerals Council modernisation and safety senior [...]
Impact manager Acre raises $100m for African climate infrastructure
Two former BNP Paribas bankers have raised almost $100-million for a new fund which aims to unlock billions of dollars of funding for climate-aligned infrastructure projects in Africa. Acre Impact Capital, a private-debt impact investment manager, is looking to address the estimated $100-billion annual infrastructure financing gap on the continent by providing a portion of [...]
Stage 16 loadshedding code seeks to reduce human error not signal imminent surge in cuts – Nersa
The National Energy Regulator of South Africa (Nersa) has belatedly moved to quell concern that its recent approval of a new loadshedding code of practice, which increases the number of potential stages from eight to 16, represented a signal that the prospect for higher levels of loadshedding was imminent. Following extensive public consultations undertaken by [...]
Volkswagen to invest R4bn to produce third model at Kariega plant
Volkswagen Group Africa (VWA) will invest R4-billion in its manufacturing plant in Kariega, in the Eastern Cape. The investment will be used to prepare the plant for the addition of a third model to the company’s production line-up from early 2027.
Exceptional blue Cullinan diamond lifts latest Petra tender prices by 22%
The sale by Southern African diamond mining company Petra Diamonds of an exceptional blue diamond in its fifth tender cycle lifted the average prices per carat received 22% higher than those of the prior Tender 4 sale. The London Stock Exchange-listed company, headed by CEO Richard Duffy, reported on Tuesday that the price upliftment was [...]
Opec woos Namibia as African nation prepares to produce from 2030
The OPEC+ oil producers group, having lost Angola and other players in recent years, is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade, an African industry official and sources told Reuters. TotalEnergies and Shell in recent years have made discoveries estimated at 2.6 billion [...]
Eskom mulls private, foreign options on R390-billion grid build
South Africa’s State-owned power utility Eskom said it’s in talks with government ministries over private and foreign options to fund a R390-billion expansion of its transmission network as more renewable generation comes online. Eskom supplies more than 80% of electricity to the continent’s most industrialised nation and has failed to meet demand, resulting in blackouts [...]
South Africa’s science, innovation dept launches circular minerals, metals initiative
South Africa's Department of Science and Innovation (DSI), through the Council for Scientific and Industrial Research (CSIR), has launched the first of three new government-led collaborative circular economy initiatives focusing on priority economic sectors that were identified by government in the science, technology and innovation (STI) 2022 to 2032 decadal plan. The first of the three [...]
Joburg Water assures of quality as it upgrades power, equipment
Johannesburg Water on Wednesday assured residents of the City of Johannesburg (CoJ) that the drinking water it provides is of the highest possible quality. The water utility, responsible for the supply of 1.6-billion litres of water across Gauteng, has extensive testing and quality control procedures in place, adhering to strict water compliance.
Ellies faces liquidation
Manufacturing, trading and distribution company Ellies Holdings is likely to be liquidated, after the business rescue practitioner tasked with rescuing the company determined that there was no reasonable prospect of a successful business rescue. JSE-listed Ellies in January entered into voluntary business proceedings. In accordance with Section 141(2)(a)(ii) of the Companies Act, application will be [...]