Rolling stock manufacturer Gibela has appointed Hector Danisa as its new CEO, with effect from May 1. Gibela is tasked with delivering 600 new passenger trains to the Passenger Rail Agency of South Africa (PRASA) in a R59-billion deal signed in 2014. Local content on the trains is to be 65% by volume.

Environmental justice group groundWork, represented by the Centre for Environmental Rights, has launched High Court proceedings against Environmental Affairs Minister Nomvula Mokonyane and President Cyril Ramaphosa and is asking the court to set aside government’s plan to double the amount of sulphur dioxide (SO2) polluters are allowed to emit. The weakening of the standards will [...]

French integrated oil and gas company Total has reached a binding agreement with Occidental Petroleum to acquire Anadarko’s assets in Africa for $8.8-billion in the event of the successful completion of Occidental’s takeover bid for Anadarko. The transaction hinges on Occidental entering into and completing its proposed acquisition of Anadarko, as well as on approval [...]

Bharti Airtel, India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1-billion, people familiar with the matter said. Airtel Africa is planning to make a formal announcement about the London listing this month and aims to start trading in June, [...]

Between 2009 and 2019, cash-strapped Eskom paid 48 suppliers R47.4-billion for diesel that was burnt to keep the lights on. In response to a Public Access to Information Act request, Eskom provided News24 with its diesel expenditure for the past ten years as well as the names of the suppliers it used.

South Africa’s banks should be forced to invest in new coal mines in the country, the ruling African National Congress’s head of economic transformation said. Nedbank Group and Standard Bank Group have said “they are not going to put money in coal any more,” Enoch Godongwana said in an interview on Carte Blanche, a Johannesburg-based [...]

Egypt expects the 1.6 GW solar park it is building in the south of the country to be operating at full capacity in 2019, the investment ministry said in a statement on Sunday. The $2-billion project, set to be the world's largest solar installation, has been partly funded by the World Bank, which invested $653-million [...]

Ascendis Health has entered into agreements with a consortium comprising RMB Ventures Seven, Nedbank Private Equity and certain members of the management of the Ascendis Biosciences division for the sale of various businesses under its Biosciences division for R480-million. A strategic review of the division had determined that it was noncore to the group’s strategy.

As construction projects become bigger and harder to fund, given rate pressures and market challenges, many insurers are exiting or scaling back in the engineering market, says Allianz Global Corporate & Specialty (AGCS) Africa property and engineering head Seelan Naidoo. He explains that the past year saw many losses from fires, mechanical failures and natural [...]

Nelson Mandela University has found that the indirect costs of falling-from-height (FFH) accidents are 14.2 times the direct costs, reports the Federated Employers Mutual Assurance Company. This is backed by UK-based Health and Safety Executive research, which determined the indirect costs of FFH accidents to be 11 times the direct costs.

The African Energy Chamber says it has appointed former BP and Equinor executive Sergio Pugliese as its president for Angola with effect from May 1. In a statement issued on Thursday, the chamber said Pugliese would support its partners in unlocking value in Angola’s multi-billion-dollar oil and gas market and also lead its efforts to [...]

Safaricom, Kenya's biggest telecoms operator, said on Friday its core earnings for the full year rose to 89.6-billion shillings ($889.33-million). The company had reported an earnings before interest and taxation (EBIT) of 79.3 billion shillings in the previous year.