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Kim Cloete

South Africa could be in for a downgrade, economist warns

11th November 2016 The Medium-Term Budget Policy Statement (MTBPS) was lukewarm, with very little new information on what government is doing to tackle the serious fiscal risks facing State-owned enterprises (SoEs), says Absa Capital senior economist Peter Worthington. Speaking at a joint Absa/Bureau for Economic... 

Rolls-Royce upgrades Cape engine facility to supply rail programme

11th November 2016 Rolls-Royce has officially opened a redesigned and upgraded facility in Cape Town, where 232 MTU engines destined for rail will be assembled, tested, painted and commissioned. The engines, which are part of the planned shift to move more freight from road to rail, will be installed in freight... 

Central Energy Fund grilled by lawmakers on controversial fuel stock sale

8th November 2016 The management and board of the Central Energy Fund (CEF) have been grilled by Parliament’s Portfolio Committee on Energy, particularly on its controversial sale of 10-million barrels of crude oil reserves. The CEF has, however, been unable to come up with many answers. The main point of... 

Investment in wind energy cascades to communities

4th November 2016 Africa’s leading wind energy event, Windaba, has wrapped up in Cape Town, with its organisers confident of the event’s role in transitioning South Africa to a cleaner energy future.  “Windaba has provided many comparable examples of global experience of achieving environmental sustainability,... 

Ramp up efforts to lower carbon emissions, warns former Greenpeace leader

3rd November 2016 Former Greenpeace executive director Kumi Naidoo has called for major changes in a bid to deal with “irreversible, runaway and catastrophic” climate change. He told delegates at the annual Windaba, in Cape Town, that even the approach of the environmental movement and progressive parts of society... 

CSIR study reveals optimistic renewable-energy scenario

3rd November 2016 A study by the Council for Scientific and Industrial Research (CSIR) has revealed that South Africa could radically cut its energy costs if it aims for a 70% renewable-energy share by 2040. CSIR Energy Centre head Dr Tobias Bischof-Niemz provided details of the study, titled ‘Least-cost... 

Global wind energy industry is soaring, hears Windaba

2nd November 2016 China is still leading the charge in the wind energy industry, outpacing by far the US, Germany, India and Spain. Global Wind Energy Council (GWEC) secretary-general Steve Sawyer, said the last two years in the global wind energy industry had seen substantial growth, after a flat period between... 

Sawea considers legal options to get Eskom to sign PPAs

2nd November 2016 The South African Wind Energy Association (Sawea) is considering legal options in a bid to get Eskom CEO Brian Molefe to sign power purchase agreements (PPAs) for round four of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). Sawea says 26 projects totalling... 

Investors rattled by recent political developments; Western Cape manufacturing sector fairly stable

28th October 2016 Recent political developments in South Africa have made investors very jittery and the outlook for the economy is still fragile, according to an Absa/Bureau for Economic Research (BER) presentation, delivered in Cape Town, on Friday. “Our businesspeople in South Africa are clearly very concerned... 

South Africa could be in for a downgrade, economist suggests

28th October 2016 The Medium-Term Budget Policy Statement (MTBPS) was lukewarm, with very little new information on what government is doing to tackle the serious fiscal risks facing State-owned enterprises (SoEs), says Absa Capital senior economist Peter Worthington. Speaking at a joint Absa/Bureau for Economic... 

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