South Africa’s Presidential Climate Commission dismissed a report that said modeling shows that the country will miss its 2030 emissions reduction target, saying that no such forecasting exists. Reuters reported that as South Africa is considering keeping some coal-fired power plants open for longer than initially planned to ease recurrent power outages, the so-called nationally [...]

The full ramp up of Africa’s largest oil refinery, a landmark moment for crude and fuel markets both regionally and beyond, is still a long way off. The Dangote plant in Nigeria just concluded a deal to receive six million barrels of crude from December, an indication that commercial activity is close to getting underway. [...]

South Africa’s Harmony Gold on Thursday expressed excitement at the prospect of working with the Newmont team as its new Wafi-Golpu Joint Venture (JV) partner in Papua New Guinea (PNG). Denver-based Newmont closed its roughly $15-billion acquisition of Newcrest Mining on Monday, ending a nearly year-long effort to buy the Australian gold mining company.

South Africa is still assessing the effect of adding interest to a R254-billion debt relief package for state-owned Eskom Holdings as the company prepares to split into three, according to a National Treasury official. Treasury announced in last week’s budget that it would convert the loans in the deal announced in February from interest free [...]

"Transnet needs help," chairperson Andile Sangqu told MPs on Wednesday in an appeal to the government to take on some of its unsustainable debt burden and fund its turnaround plan. Transnet has a R135-billion debt burden with large redemptions due soon, including R8.3-billion in the first quarter of next year and R6.8-billion in the third [...]

On the occasion of celebrating its 100-year anniversary, automotive manufacturer Ford Motor Company South Africa (FMCSA) has announced it will start producing plug-in hybrid electric vehicle (PHEV) Ranger models at its Silverton, Pretoria, manufacturing facility late next year. The automaker is investing R5.2-billion in expanding its existing facility to accommodate the new models on the [...]

South African stock exchange A2X Markets has grown its trade value from R657-million in its first year to more than R75-billion within six years. Similarly, trade count increased significantly as additional brokers connected to A2X with more than 1.2-million trades having taken place in the past year, up from 213 000 in 2021 to 2022.

Transnet rolled over R7-billion of debt due this week until March, giving the South African State-owned port and rail company relief for four months. The bonds, which were due November 6, were dealt with “using funding and existing facilities,” Transnet said in an emailed response to questions. The company sold zero-coupon notes maturing in February [...]

Advisory and professional services firm EY's eleventh Africa Attractiveness Report found that clean technology led the foreign direct investment (FDI) drive into Africa against a backdrop of a substantial overall recovery of FDI on the continent. Technology services attracted the second-most FDI and business services placed third in terms of investment attractiveness. The overall report found [...]

Gold-mining company Harmony estimates that it will achieve total cumulative net present value savings of R3.6-billion from its three solar power projects, one of them already generating 30 MW of clean, green energy. To reduce its carbon footprint, the JSE-listed Harmony, headed by CEO Peter Steenkamp, has been building and commissioning renewable energy projects at [...]

The Presidential Climate Commission (PCC), the British High Commission to South Africa and other organisations have crowned Samanjalo and Green Guru as the winners of the first Green Solutions Pitch Challenge focused on Mpumalanga. The other organisations on the judging panel included development programme Grindstone; tech financer Untapped Global; diversified miner Anglo American support programme [...]

The World Travel & Tourism Council (WTTC) estimates that the African travel and tourism sector could add $168-billion to the continent’s economy and create more than 18-million new jobs, depending on three key policies to unlock yearly growth of 6.5% in the sector. The WTTC, together with government technology services provider VFS Global, finds in [...]