The South African Revenue Service (Sars) collected a record gross amount of R2.16-trillion by the end of March. It paid out refunds of R414-billion to taxpayers, which is the highest ever in refunds compared with the R381-billion paid out in the prior year and representing growth of 8.6%.

JSE-listed real estate investment trust (Reit) Emira and its wholly owned subsidiaries have agreed to dispose of 13 predominantly industrial and office properties situated in the Western Cape to Spear Reit for R1.15-billion in cash. On March 28,  Spear entered into two inter-conditional sale of rental enterprise agreements with Emira Property Fund in terms of [...]

The Department of Mineral Resources and Energy (DMRE) has launched South Africa’s third public procurement round for utility-scale batteries, while also extending the bid submission deadline for Bid Window Two (BW2) of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) launched in December, and naming a fifth preferred bidder from BW 1. In [...]

China has a unique opportunity to drive forward an energy revolution in Africa, but it must first reverse nearly two decades of neglect of green power investments there, research from Boston University showed on Tuesday. Beijing has emerged as the continent's biggest bilateral trading partner since the start of the century and has financed billions [...]

Prices for 93-octane petrol will increase by 65c/ℓ and 95-octane petrol by 67c/ℓ, while 0.05% sulphur diesel will increase by 3c/ℓ and 0.005% sulphur diesel by less than 2c/ℓ from April 3, the Minister of Mineral Resources and Energy Gwede Mantashe announced on March 28. However, the wholesale illuminating paraffin price will decrease by 29c/ℓ [...]

Cape Town Mayor Geordin Hill-Lewis has tabled a R76.4-billion draft budget for the city for the 2024/25 financial year. The budget proposes record infrastructure investment of R12.1-billion for the year, and nearly R40-billion over the next three years.

South Africa recorded smaller foreign direct investment (FDI) inflows of R16.2-billion in the fourth quarter of 2023, from R26-billion in the third quarter, central bank data showed on Thursday. For 2023 as a whole direct investment inflows moderated to 96.5 billion rand, down from R151-billion in 2022, as equity investment by foreign parent companies in [...]

Northern Cape copper company Copper 360 announced on Wednesday that it has signed a memorandum of understanding (MOU) with DRDGOLD’s Far West Gold Recoveries tailings retreatment company to conduct a due diligence on its copper tailings dams to assess their economic copper recovery viability. During the due diligence period, Far West Gold Recoveries will, through [...]

South Africa’s Department of Science and Innovation and the United Nations Development Programme (UNDP) have jointly launched a new fund to stimulate innovation and entrepreneurship in the country’s tertiary education sector. The Higher Education Innovation Fund (HEIF), as it is called, is intended to support those, at the country’s universities and technical and vocational education [...]

Royal Bafokeng Holdings (RBH) has entered into a transaction agreement alongside Actis to jointly acquire 100% of independent owners, operators and developers of mast and tower infrastructure Swiftnet from Telkom South Africa, with RMB acting as financial adviser to RBH on the transaction. With an enterprise value of R6.75-billion, it is one of the largest [...]

JSE-listed information and communications technology services firm EOH reported a 2% year-on-year decrease in revenue to R3.1-billion for the six months ended January 31. Group operating profit also decreased, to R9-million, from R142-million in the six months ended January 31, 2023.

Environmental organisations The Green Connection (TGC) and Natural Justice have submitted an application in the High Court against the environmental authorisation granted to TotalEnergies Exploration and Production South Africa (Teepsa) for exploratory drilling in Blocks 5, 6 and 7 on the Cape Town and Cape Agulhas coast. The respondents include Mineral Resources and Energy Minister [...]