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South Africa aims to finalise long-term energy plan next month – Radebe

By: Reuters     Updated 4 hours ago South Africa is aiming to finalise a long-term plan for the country's energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. "We are aiming for February," Radebe told Reuters, when asked when the... 

South Africa aims to finalise long-term energy plan next month – Radebe
Photo by Dylan Slater
Energy Minister Jeff Radebe

Optimum, Koornfontein preliminary business rescue plan to be submitted for creditor approval next week

By: Marleny Arnoldi     Updated 3 hours ago Legal adviser Bouwer van Niekerk expects to have a preliminary business rescue plan for Optimum Coal Mine and Koornfontein Mine submitted for creditor approval by the end of next week, he confirmed to Mining Weekly Online on Wednesday. The mines’ business rescue practitioners (BRPs) have been... 

Optimum, Koornfontein preliminary business rescue plan to be submitted for creditor approval next week

Ramaphosa says Eskom challenges are being addressed

By: African News Agency      Updated 6 hours ago President Cyril Ramaphosa on Wednesday said that government was taking necessary steps to address challenges faced by Eskom as it remained an albatross around the country's neck. Ramaphosa was speaking at a breakfast meeting with TeamSA.  

 Ramaphosa says Eskom challenges are being addressed
President Cyril Ramaphosa

ANC will not tamper with central bank's independence – Ramaphosa

By: Reuters     Updated 6 hours ago South Africa's ruling African National Congress has no intention to tinker with the independence of the Reserve Bank, President Cyril Ramaphosa said on Wednesday, after the party said the central bank should broaden its focus to boost employment and economic growth. "There is no intention... 

ANC will not tamper with central bank's independence – Ramaphosa
President Cyril Ramaphosa

Trade conditions to remain subdued, warns Sacci

By: Marleny Arnoldi     Updated 2 hours 43 minutes ago The South African Chamber of Commerce and Industry’s (Sacci’s) trade conditions survey for December showed that activity had improved slightly on November, if adjusted for seasonal factors, while six-month prospects remained subdued. The seasonally adjusted Trade Activity Index (TAI) was at 47,... 

Project Halo refutes allegations of favoritism in bid to acquire Optimum, Koornfontein mines

By: African News Agency      Updated 6 hours ago Project Halo – the consortium which came out as the preferred bidder in the highly-contested purchase of coal mine previously owned by the Gupta family – on Tuesday rejected allegations of impropriety in the way it secured the bid to acquire mine and other related assets.  Last year, Project Halo... 

Rand Water reduces supply to two Mpumalanga municipalities in arrears

By: Natasha Odendaal     Updated 3 hours ago Rand Water on Wednesday said it had reduced water pressure to two Mpumalanga-based local municipalities owing to the nonpayment of fees. The Victor Khanye and Govan Mbeki local municipalities have allegedly failed to honour agreements made to settle the outstanding amounts due to Rand Water. 

New SAPA division GM to focus on chicken dumping issue in South Africa

By: Marleny Arnoldi     Updated 3 hours ago The South African Poultry Association (SAPA) has appointed businessperson Izaak Breintenbach GM of the association’s Broiler Organisation division. He succeeds Kevin Lovell who headed up the division for several years.  

Emira upgrades Denver warehouse

By: Tasneem Bulbulia     Updated 4 hours ago JSE-listed Emira Property Fund is set to complete the total refurbishment of its 9 800 m2 warehouse facility, located in the industrial hub of Denver, Johannesburg, by March. Emira is investing R8.2-million in the revamp project. 

Ford, IBM among quartet in Congo cobalt blockchain project

By: Reuters     Updated 6 hours ago Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... 

Corruption, weak governance hinders sub-Saharan Africa’s economic growth – IMF

By: Marleny Arnoldi     Updated 40 minutes ago Countries in sub-Saharan Africa (SSA) could strengthen their economic performance by improving governance and reducing corruption, a working paper published by the International Monetary Fund (IMF) has found. The paper, titled ‘A Governance Dividend for Sub-Saharan Africa?’ stated that... 

Tullow Oil hit by payment delay, but sees higher output

By: Reuters     Updated 3 hours ago A delay in receiving payment from the sale of a stake in Ugandan oilfields caused Tullow Oil to miss cash flow and debt forecasts on Wednesday, although the firm said it expected to receive the money soon and also forecast higher production. The Africa-focused company said it expected production... 

Brexit pushes UK to brink as government fights to survive

By: Bloomberg     Updated 5 hours ago The UK stands at its most dangerous crossroads in decades after Parliament emphatically rejected Theresa May’s Brexit deal and left her facing an uncomfortable vote to oust her government. The humiliating defeat on Tuesday evening, the biggest for any government in modern history, leaves May’s... 

Talks under way to build new gas pipeline to Egypt, Israel says

By: Bloomberg     Updated 5 hours ago Talks are in progress to build a new underwater gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose. Construction could begin as early as... 

EU populist eyes $1bn for defence and wants trump to pay

By: Bloomberg     Updated 5 hours ago A populist on the European Union’s frontier with Russia says he needs $1-billion to bolster the military. And he wants the US to pay. Mart Helme’s EKRE party is hot on the heels of Estonia’s two biggest political groups before March elections, campaigning on an anti-immigration and tax-cutting... 

Key African central banks to hold rates on inflation, oil prices

By: Bloomberg     Updated 5 hours ago Africa’s key central banks are expected to hold benchmark interest rates at their first meetings of the year – albeit for different reasons. While the drop in oil prices could give South African and Kenyan policy makers room to hold off on further rate increases, currency pressures could keep the... 

Renault board is said ready to oust Ghosn as chairperson, CEO

By: Bloomberg     Updated 5 hours ago Renault SA is preparing to replace jailed chairperson and CEO Carlos Ghosn after his failed bid for bail in Japan signaled he may remain in detention for months, people familiar with the matter said. Some Renault board members have concluded that a decision is needed fast, after reports that... 

Bethal water crisis: Rand Water curbs supplies over outstanding municipal debt

By: News24Wire      Updated 6 hours ago Fed-up Bethal residents, who have had little or no water over the last 25 days, have launched a silent protest to draw attention to their plight. But it didn't quite go according to plan. "The original plan was to get as many residents as possible to gather at the Bethal Dam and then have one... 

Don’t hurt farmers with higher electricity tariffs, says Agri Western Cape

By: Kim Cloete     15th January 2019 Sharp electricity tariff hikes would have a major detrimental effect on the agricultural sector, Agri Western Cape has said during public hearings into electricity tariffs. In its submission to the National Energy Regulator of South Africa (Nersa), Agri SA said high increases in electricity costs... 

Nersa cancels Eskom revenue application hearings in Northern Cape, Limpopo

By: Tasneem Bulbulia     15th January 2019 The National Energy Regulator of South Africa (Nersa) has cancelled the public hearings into Eskom’s third multiyear price determination (MYPD3) regulatory clearing account (RCA) Year 5 (2017/18) application and its MYPD4 revenue application, that were scheduled to take place in Kimberley, in the... 

Electricity increases will badly hurt the poor, say community leaders, residents  

By: Kim Cloete     15th January 2019 Community and faith leaders, as well as pensioners and residents, have called on the National Energy Regulator of South Africa (Nersa) to oppose Eskom’s request for a tariff hike, with a projected overall increase of 45% to 2021. “If granted, this price increase will severely impact on all... 

Electricity increases will badly hurt the poor, say community leaders, residents

SAA appoints former prosecution chief to its group executive 

By: Rebecca Campbell     15th January 2019 Embattled State-owned flag-carrier South African Airways (SAA) announced on Tuesday that Advocate Vusi Pikoli had been appointed as the airline’s Chief Risk and Compliance Officer. He will take up the post on February 1. Pikoli is currently an advisor to the Minister of State Security. He was,... 

Alstom, APIX celebrate Coradia Polyvalent’s first journey in Senegal

By: Tasneem Bulbulia     15th January 2019 Integrated transport systems provider Alstom and APIX, the agency responsible for the promotion of investment and major works in Senegal, this week celebrated the first voyage of the Coradia Polyvalent train, in Dakar. The event took place in the presence of Senegal President Macky Sall and... 

Distell launches new premium wine company

By: Tasneem Bulbulia     15th January 2019 Distell is launching Libertas Vineyards and Estates as a new standalone company with ownership of all Distell’s premium wine brands, the company announced in a statement on Tuesday. Libertas Vineyards and Estates MD Kay Nash said the move was a “significant shift” from Distell’s previous approach... 

AA predicts another fuel price drop for February

By: News24Wire      15th January 2019 The Automobile Association (AA) said on Tuesday that the fuel price would likely fall in February, based on unaudited mid-month fuel price data released by the Central Energy Fund. The AA said the projected drop in the price of petrol, diesel and illuminating paraffin was due to international oil... 

 AA predicts another fuel price drop for February

Cosatu angered by R1.6bn subsidy for Gautrain

By: African News Agency      15th January 2019 The Congress of South Africa Trade Union (Cosatu) in Gauteng said on Tuesday that it was dismayed by the news that the provincial department of transport will be subsidizing Gautrain operating expenses with a whopping R1.5-billion this year.  News emerged on Monday that the Gautrain Management... 

'Find it in your heart, Eskom' – public's pleas on 'unbearable' tariff hikes 

By: News24Wire      15th January 2019 Granting power utility Eskom the 15% annual tariff hike it has asked for will only add pressure to already struggling households, the National Energy Regulator of South Africa (Nersa) heard on the second day of public hearings.  The energy regulator, which sets prices and tariffs for Eskom,... 

'Find it in your heart, Eskom' – public's pleas on 'unbearable' tariff hikes

Radebe confirmed as Ministerial keynote speaker for Africa Energy Indaba

By: Tasneem Bulbulia     15th January 2019 Energy Minister Jeff Radebe will deliver a Ministerial keynote address at this year’s Africa Energy Indaba.   The indaba will be held at the Sandton Convention Centre on February 19 and 20. 

Mnangagwa seeks cash in Russia as Zimbabwe descends into chaos

By: Bloomberg     15th January 2019 Zimbabwean President Emmerson Mnangagwa said he’s seeking loans from Russia on a visit to Moscow as protests erupted across his country Monday, leaving 24 people injured and five possibly dead. “I can’t say that we want this much or that much,” he said in an interview with the state-run Russian... 

Uganda's president 'astonished' MTN charged less for telecom licence renewal

By: Reuters     15th January 2019 Uganda's President Yoweri Museveni has criticised the telecommunications regulator after it slashed MTN Uganda's fee for renewing its telecoms licence, according to a letter seen by Reuters. Local media reported on Tuesday that the Uganda Communications Commission (UCC) had decided to charge MTN... 

Ctrack launches small tracking devices for use on containers, packages, bikes

By: Irma Venter     15th January 2019 Vehicle tracking and telematics provider, Ctrack, has launched its BX500 and BX600 range of wireless, ultra-compact GPS tracking devices. The company says these devices are ideal for use in cars, trucks and motorbikes, such as delivery bikes, quads, golf carts, delivery vans and generators. 

Ctrack launches small tracking devices for use on containers, packages, bikes

Reserve Bank publishes policy proposals for crypto assets 

By: African News Agency      15th January 2019 The South African Reserve Bank (SARB) on Tuesday asked for public comment on a policy paper outlining the perceived risks and benefits associated with crypto assets, the available regulatory approaches around them and proposals to industry participants and stakeholders. In 2014, the National... 

Reserve Bank publishes policy proposals for crypto assets

Ghosn faces months in jail as another bid for bail is rejected

By: Bloomberg     15th January 2019 Carlos Ghosn’s latest bid to be released on bail was rejected by a Tokyo court, leaving the fallen car titan behind bars for at least another two months as prosecutors continue to build their case against him for financial crimes. Ghosn’s lawyers had submitted the bail application last week after... 

Opec+ plans review in Baku in March, Ministers' Meeting in April

By: Bloomberg     15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... 

Merkel seeks to preserve jobs while phasing out coal plants

By: Bloomberg     15th January 2019 Angela Merkel’s commission plotting Germany’s exit from coal faces a tricky balancing act: how to stop mining and burning the dirtiest fossil fuel without whipping up more voter anxiety over job losses. Germany’s chancellor meets with coal-state governors who sit on the commission on Tuesday in... 

Electric cars seen getting cleaner even where grids rely on coal

By: Bloomberg     15th January 2019 Electric cars are better for the environment than traditional gasoline models, and that benefit will grow as power generators shift away from coal. That’s the conclusion of research by BloombergNEF, which found carbon dioxide emissions from battery-powered vehicles were about 40% lower than for... 

Worst-performing South African stock gets bid for crown jewel

By: Bloomberg     15th January 2019 Ascendis Health is in talks to sell one of its best-performing units as last year’s biggest South African loser on Johannesburg’s stock exchange battles to ensure survival. The debt-laden maker of multivitamins, probiotics and pet nutritional supplements received an unsolicited offer for Cyprian... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa 

By: Reuters     15th January 2019 Investment bank Goldman Sachs said South Africa's rand could tumble 3.5% if State-run power utility Eskom suffers a major sell-off in its bonds, but it could also jump 4.5% if the firm's troubles improve. Goldman's analysts said an Eskom risk gauge used by the bank was now close to its most... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa

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