Futuregrowth Asset Management, a South African money manager overseeing more than R190-billion of fixed-income assets, says the government’s draft legislation meant to address inefficiencies at state entities is “ineffective, overdue, vague, and contradictory”. The National State Enterprises Bill aims to establish the State Asset Management, a holding company to consolidate the state’s shareholdings. But the draft [...]

President Cyril Ramaphosa has hailed the efforts by law enforcement agencies and the South African Revenue Service to bust coal smuggling syndicates operating in the country. Planned search and seizure operations targeting coal smuggling syndicates have gained traction across five provinces with the documents of individuals alleged to have committed procurement fraud, tax crimes and coal diversion [...]

Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy. The predicted peak, which the agency also anticipates for coal and natural gas, doesn’t mean a rapid plunge in fossil fuel consumption is imminent. [...]

Airbus Defence and Space, part of the Europe-based global major Airbus aerospace group, announced on Monday that it had signed two major contracts with agencies of the French Ministry of Defence, for the enhancement and support of that country’s fleet of A330 multirole tanker transports (MRTT). The contracts have a total value of €1.2-billion. In [...]

Intermodal containers lessor Textainer Group Holdings has entered into a definitive agreement to be acquired by alternative investment firm Stonepeak for about $7.4-billion. Upon completion of the transaction and the redemption of Textainer’s series A and B cumulative redeemable perpetual preference shares, Textainer will become a privately held company.

The Eastern Cape Development Corporation (ECDC) has announced plans to raise R900-million in private investment and R46-million in public funding by the end of the 2027/28 financial year to modernise its property portfolio. The corporation is engaging the private sector to invest in its R1.2-billion property portfolio in return for long-term leases of up to [...]

Domestic used-car sales generated R39.1-billion in the third quarter, this according to AutoTrader used-car sales data. However, for the first time in three months, September used-car sales went into negative territory, falling to 31 636 units, down 9% month-on-month from the 34 725 units recorded in August.

Despite wealthy nations’ pledged $R8.5-billion (approximately R150-billion) and further pledges and investments, South Africa faces a R660-billion financing shortfall for the just energy transition, expected to cost R1.5-trillion over five years. This was revealed by Forestry, Fisheries and the Environment Minister Barbara Creecy in a response to a parliamentary question.

In an update presented to the Portfolio Committee on Agriculture, Land Reform and Rural Development on October 20, the South African Poultry Association (Sapa) has estimated that 30% of the South African poultry industry has been impacted on by the latest outbreaks of Highly Pathogenic Avian Influenza (HPAI). Sapa broiler organisation GM Izaak Breitenbach said [...]

The return of Koeberg's Unit 1 to commercial service has been delayed by a further 10 days as some critical tests are still to be completed before the reactor is started. The last date that Eskom provided for the return of Unit 1 from the extension of life project was 3 November. It is now [...]

TotalEnergies is “hopeful” it will be possible to restart the $20-billion liquefied natural gas (LNG) project in northern Mozambique in early 2024, says TotalEnergies Gas, Renewables and Power long-term LNG marketing and business development deputy VP Christophe Auger.  TotalEnergies holds a leading 26.5% stake in the development, which was halted in 2021 after Islamic State-linked insurgents [...]

Diversified mining and metals company South32's Worsley Alumina operation, in Western Australia, has completed the conversion of the first of its coal-fired boilers to natural gas, helping to reduce the operation’s greenhouse-gas (GHG) emissions. The operation includes a bauxite mine, near the town of Boddington, and an alumina refinery, near the town of Collie. The refinery produces [...]