South Africa’s central bank said its shift to a simpler monetary policy implementation framework has led to a surge in the country’s monetary base. The new system introduced in June last year enables commercial lenders to hold and earn interest on excess reserves and prevents them from hoarding liquidity. The central bank’s Quarterly Bulletin released [...]

Development finance institution (DFI) the Development Bank of Southern Africa (DBSA) head of energy, environment and information and communications technology (ICT) Mathapelo Malao has emphasised that the DFI’s energy, environment and ICT division holds strategic value for infrastructure development in Africa. “If we look at our credential limit, just on the energy sector alone is [...]

The Industrial Development Corporation (IDC) has reported a 147% surge in disbursements to R17.8-billion for 2022/23, up from only R7.2-billion in the prior year – a performance that is within range of the R20-billion target that has eluded the development financier for several years, and which the Covid pandemic disrupted further. The State-owned institution also [...]

A visit to Washington by a high-profile delegation of ministers, business leaders and unionists lowered tensions around the renewal of South Africa's preferential trade deal with the US, Minister of Trade and Industry Ebrahim Patel has said.  Patel was briefing Parliament on the African Growth and Opportunity Act. The panel, which included Finance Minister Enoch Godongwana [...]

Tshepo Kgobe has been named the next CEO of the Gautrain Management Agency (GMA), succeeding William Dachs, who will step down when his tenure ends on January 31. Kgobe is an engineer with diverse technical expertise in infrastructure, energy, mining and the railway environment.  At the start of the Gautrain project, he was responsible for [...]

JSE-listed real estate investment trust Hyprop reported a 24% increase in distributable income to R1.451-billion for the full year ended June 30, as the four Eastern European centres were consolidated for the full financial year. The group says it delivered a continued improvement in trading metrics across its South African and Eastern European portfolios which [...]

Democratic Republic of Congo (DRC) is still looking for partners for the world’s biggest hydropower project and expects expanded mining investments from the United Arab Emirates (UAE) as the central African nation prepares for December elections. While talks have stalled over development of the 44-GW Grand Inga project with Australian billionaire Andrew Forrest and his company, [...]

Namibian President Hage Geingob said the US is missing out on a chance to invest in green hydrogen projects and mineral resources in the southern African nation, while the European Union is showing great interest. German officials visited Namibia in December and considered investing there as they search for new energy sources to address a [...]

The Strategic Partners Group (SPG) is the empowerment partner in the Gautrain, the rapid rail link owned by the Gauteng provincial government and run by the Bombela Concession Company. When the current concession expires in 2026 will SPG continue to be a Gautrain participant, is the question that Engineering News put to SPG executive chairperson [...]

The State-owned Industrial Development Corporation (IDC) says the bankable feasibility study for the proposed multibillion-rand Stellantis vehicle assembly plant, in Coega, in the Eastern Cape, is underway. The project is a joint venture (JV) between Stellantis and the IDC.

The South African Nuclear Energy Corporation (Necsa) has formally requested Mineral Resources and Energy Minister Gwede Mantashe to change its mandate, to allow it to become involved in the generation of electricity from nuclear energy. So Necsa CEO Loyiso Tyabashe has told Engineering News in an exclusive interview. Currently, only the State-owned national electricity utility Eskom [...]

It’s touted by some as possibly the world’s biggest-ever deep-water oil find. The discovery off the shores of Namibia last year by TotalEnergies and Shell of an estimated 11-billion barrels of crude has generated understandable excitement in the southern African country. Even if only a small portion of that potential load — valued at about [...]