Ports and logistics group Grindrod is set to invest big in its Matola drybulk terminal in Mozambique. Announcing Grindrod’s financial results for the year ended December 31 on Thursday, CEO Xolani Mbambo said the JSE-listed logistics group would spend the bulk of its R2.5-billion capital expenditure (capex) budget from 2024 to 2026 on increasing capacity [...]

South Africa’s current-account deficit widened more than expected in the fourth quarter of 2023, as dividend and interest payments to foreign investors resulted in the biggest outflow since the second quarter of 2022. The overall balance on the current account, the broadest measure of trade in goods and services, expanded to an annualized deficit of [...]

Following its recent success in securing new public and private power purchase agreements, Pele Green Energy (PGE) is already having to consider additional funding options beyond the pioneering R2.5-billion Sithala facility concluded in November with Nedbank, Norfund and the Industrial Development Corporation. The facility has, for the first time, provided the black-owned independent power producer (IPP) [...]

JSE-listed Murray & Roberts (M&R) has reported a significant year-on-year reduction in its attributable loss for the six months ended December 31, 2023, signalling a positive turn in its financial performance. The company recorded a substantially reduced attributable loss of R95-million for the six months under review, which is in stark contrast to the R2.5-billion [...]

With a total pipeline of work of R240-billion, up from R211-billion in June, Wilson Bayly Holmes-Ovcon’s (WBHO’s) short- to medium-term future “should be okay”, says CEO Wolfgang Neff. “It’s not all doom and gloom in our space. I think it looks pretty good. Our earnings are at their best levels in over a decade. I [...]

Distributed renewable energy (DRE) is going to be essential to achieve the goal of universal access to energy by 2030, both in Africa and globally. So highlighted World Bank Energy Sector Management Assistance Programme lead energy specialist Raihan Elahi, on Wednesday. He was addressing a session of the Africa Energy Indaba, in Cape Town. “We’re [...]

The Competition Appeal Court's (CAC's) decision to dismiss chemicals and energy company Sasol's application to review the Competition Commission’s investigation into alleged excessive pricing of natural piped gas paves the way for the commission to refer a case against Sasol Gas to the Competition Tribunal for prosecution. "The CAC decision re-emphasises the commission’s mandate to [...]

The Southern African Power Pool’s (SAPP’s) Regional Transmission Infrastructure Financing Facility (RTIFF) will be managed by climate-focused blended finance fund manager Climate Fund Managers (CFM), it was jointly announced on Tuesday, on the fringes of the 2024 Africa Energy Indaba, in Cape Town. The RTIFF, developed by the SAPP in partnership with the Southern African [...]

Regional tourism organisation the Southern African Development Community (SADC) Business Council Tourism Alliance has completed a two-day train-the-trainer workshop on tourism disaster risk management and crisis communication. Communication, risk management and tourism officials from 11 SADC member States attended the training session, which was aimed at providing them with the necessary skills and knowledge to [...]

Transport Minister Sindisiwe Chikunga says State-owned Airports Company South Africa (ACSA) will invest R21.7-billion on airport infrastructure developments focused on refurbishments, improvements and statutory compliance over the next five years. The aim is to enhance asset availability, airport safety and improved passenger experience across the country's airports.

Bid Window 8 of government’s Renewable Independent Power Producer Procurement Programme will be the last bid window under IRP 2019, says Mineral Resources and Energy Minister Gwede Mantashe. “We’ll then have issued all the bid windows provided for under IRP 2019.”

Gauteng’s Finance MEC Jacob Mamabolo on Tuesday tabled a provincial budget for Gauteng of R165.8-billion for the 2024/25 financial year, with a focus on fighting crime and boosting the township economy. This will increase to R171.5-billion in 2025/26 and to R176.8-billion in 2026/27, equating to the injection of R514.1-billion over the next three years into [...]