The National Prosecuting Authority (NPA) announced that it has successfully concluded dispute resolution with McKinsey South Africa, in which McKinsey will pay about R1.1-billion into South Africa's Criminal Assets Recovery Account, owing to the social and economic harm caused by one of its former employees. McKinsey will also have to assist the Investigating Directorate in [...]

Renewable energy company SOLA Group has produced one-billion kilowatt-hours of renewable energy, reaching this goal one month earlier than planned. The company produced the majority of this amount over the past few months, says SOLA MD Katherine Persson.

Mines using renewable energy are being encouraged to harvest and store heat wasted during minerals processing and to then use its green electrons to close renewables intermittency gaps that come about when the sun isn’t shining and the wind isn’t blowing. Implementing systems to do this also come with considerable economic benefit, Kraftblock co-founder and [...]

South Africa's current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product (GDP), central bank data showed on Thursday. In rand terms the current account deficit narrowed to R70.8-billion in July-September, from a revised R75.3-billion in the previous three-month period.

Rich investors from the Middle East are scouring Africa for deals in agricultural projects, critical minerals and renewable power, according to Citigroup. They’re looking at countries such as Kenya to enhance the Gulf region’s food security, and at South Africa for industrial transactions and renewable power to diversify their economies away from oil, Citigroup’s head [...]

Real estate investment company Fortress Real Estate Investments has revised its distributable earnings forecast for financial year 2025 to R1.78-billion, representing 147.80c a share, a 16.9% increase compared with normalised distributable earnings for financial year 2024. The company says strong demand for secure, high-quality logistics properties has driven low vacancies, by rental, 1.4% in South [...]

In a newly released study, climate and energy strategy advisory firm Meridian Economics has determined that optimally sized batteries offer immediate opportunities for many commercial and industrial firms to reduce their electricity costs. The study, published on December 4, aimed to evaluate the business case for commercial and industrial companies to invest in behind-the-meter batteries. [...]

The South African Nuclear Energy Corporation (Necsa) generated better financial results and audit outcomes during the 2023/24 financial year, the State-owned entity has reported. It credited this improvement to a turnaround strategy that was initiated by its board during the 2021/22 financial year. This strategy involved the restructuring of the group, to create seamless internal [...]

South Africa’s High Court upheld a legal challenge to the government’s plan to procure 1 500 megawatts of new coal-fired power, ruling that it was unlawful because of the potential impact on public health. Plans for more electricity from the dirtiest fossil fuel in South Africa, which has the most carbon-intensive economy among the Group [...]

A R1.5-billion green loan facility secured in 2022 is the significant funding underpin of three solar PV renewable-energy plants being constructed by Harmony Gold at its large Moab Khotsong gold mine in North West province, near Orkney.  The Johannesburg Stock Exchange-listed Harmony anticipates that this latest project will supply about 20% of the peak daytime [...]

Germany has committed further funding of €276.5-million (about R5.2-billion) to South Africa for the period to 2026 to support several initiatives, including skills development and South Africa’s energy transition. The funding was confirmed in a joint statement released following the 2024 Intergovernmental Negotiations on South African-German Development Cooperation held in Berlin from November 25 to [...]

US President Joe Biden landed in Angola on Monday for a visit focused on a US-backed railway project and on the legacy of slavery, but his decision to pardon his son Hunter Biden threatened to overshadow the official agenda. The visit fulfils a promise to visit Sub-Saharan Africa during his presidency and aims to bolster [...]