Green hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far more expensive than previously thought for decades to come, according to a new estimate from BloombergNEF. Hydrogen companies worldwide are already struggling with canceled projects and sluggish demand. In the US, [...]

South African state-owned logistics group Transnet has reported a wider loss of R2.2-billion in the six months to September 30 on higher costs and operational challenges. Transnet made a loss of R1.6-billion during the same period last year.

South Africa is poised for Chinese investment in its $27-billion automotive industry after the President signed a tax break for the production of so-called new-energy vehicles into law. Three Chinese automakers have already signed non-disclosure agreements with the Automotive Business Council, CEO Mikel Mabasa said, declining to identify them.

The National Treasury, on December 20, published the local government revenue and expenditure report for the first quarter period from July 1 to September 30, which showed that aggregate spending by municipalities was 21.6%, or R140.4-billion, of the total adopted expenditure budget of R649.9-billion for the financial year ended February 2025. Aggregated billing and other [...]

A family trust linked to Koos Bekker — one of South Africa’s richest people — sold about €156-million of shares in Internet investing giant Prosus to fund building operations at hotels in South Africa, the UK and Italy. The trust associated with the billionaire who chairs the company sold 3.9-million shares over three days this [...]

The biggest vessel-ordering program since the eve of the global financial crisis is putting a squeeze on the shipbuilding industry’s capacity to construct new vessels. Owners plowed more than $188-billion into newbuilds in the first 11 months of the year, on course for the strongest pace in terms of both value and capacity since 2007, [...]

President Cyril Ramaphosa on Thursday assented to the National Nuclear Regulator Amendment Bill, which provides for nuclear safety oversight, ranging from the decontamination of defence facilities to airline pilot safety. The Amendment Bill amends the National Nuclear Regulator Act of 1999 to align it with current international regulatory best practices as determined by the International Atomic [...]

State-owned power utility Eskom has reported a R25.5-billion loss before tax for the financial year ending March 31, 2024, following a year marked by operational setbacks, financial strain and systemic inefficiencies. With 329 days of loadshedding and heavy reliance on costly open-cycle gas turbines (OCGTs) during the 2024 financial year, along with escalating municipal debt, the [...]

New York- and Toronto-listed Barrick Gold Corporation on Wednesday, December 18, confirmed that its operating entities in Mali, namely Société des Mines de Loulo SA and Société des Mines de Gounkoto SA, have submitted a request for arbitration to the International Centre for the Settlement of Investment Disputes, in accordance with the provisions of their [...]

Distressed JSE-listed sugar producer Tongaat Hulett has announced that it will sell all its assets and operating businesses in South Africa to Vision Sugar South Africa. The purchase price for Tongaat Hulett's South African assets will be the fair market value determined by an appointed independent valuer, whose decision, absent any manifest error, shall be [...]

Investment company Futuregrowth Asset Management has invested R150-million in small, medium-sized and microenterprises (SMMEs) finance and specialist supply chain support financial technology (fintech) company Sourcefin. Sourcefin works to bridge the critical R300-billion gap in SMME financing and empowers businesses to overcome working capital challenges and successfully fulfil public and private sector purchase orders, which are [...]

Industry regulator the Independent Communications Authority of South Africa (Icasa) has approved mobile network operator Telkom's R6.75-billion disposal of its Swiftnet business, which houses its masts and towers business. The decision obtained from Icasa on December 13 results in a change of control of Swiftnet’s licences and fulfils one of the suspensive conditions for the [...]