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State Companies News

Gordhan: SA airlines already working together amid merger talks

By: News24Wire      Updated 2 hours 10 minutes ago Minister of Public Enterprises Pravin Gordhan told eNCA on Sunday evening that discussions regarding the merger of three government airlines would continue this week with other relevant ministers. South Africa has been abuzz with the potential consequences of merging Mango Airlines with SA... 

Lost in space?

By: Rebecca Campbell     25th May 2018 Analysts say that the planet Earth’s rapidly-growing space economy could hit $600-billion by 2030 and $1-trillion by 2040. Clearly, the space economy, worth some $350-billion today, is growing rapidly.  

Denel CEO resigns with immediate effect

By: Rebecca Campbell     25th May 2018 State-owned defence industrial group Denel announced on May 15 that its Group CEO, Zwelakhe Ntshepe, had resigned. The resignation was with effect from that same day. He had been appointed Group CEO only six months ago, following two years in which he had been acting in that capacity. Ntshepe had... 

SARB keeps repurchase rate at 6.5%

By: African News Agency      24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... 

SARB keeps repurchase rate at 6.5%

Eskom business-model review aimed at lowering utility’s risk to fiscus

By: Terence Creamer     24th May 2018 Public Enterprises Minister Pravin Gordhan has confirmed that the business model of power utility Eskom is up for discussion as government seeks to reduce the fiscal risk currently posed by utility and to reposition the State-owned enterprise (SoE) for future sustainability. On his eighty-sixth... 

Eskom business-model review aimed at lowering utility’s risk to fiscus
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

South Africa authorities halt flights of State-run SA Express over safety

By: Reuters     24th May 2018 South Africa's Civil Aviation Authority (SACAA) said on Thursday it had suspended all flights of state-run airline SA Express over safety concerns. The decision comes after Public Enterprises Minister Pravin Gordhan said on Thursday that he had appointed an "intervention team" to help at the... 

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO

By: Anine Kilian     24th May 2018 Public Enterprises Minister Pravin Gordhan has appointed Phakamani Hadebe as Eskom CEO. Hadebe has been acting CEO of the power utility since January. 

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Half of Ramaphosa’s SoE council to be made up of people from outside of government

By: Terence Creamer     23rd May 2018 President Cyril Ramaphosa has announced that the composition of the Presidential State-owned Enterprise (SoE) Council, whose establishment has been approved by Cabinet, will be split between Ministers, as well as business people, experts and stakeholders. Speaking in Parliament during the debate... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government
President Cyril Ramaphosa

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa

By: African News Agency      23rd May 2018 Municipalities and State-owned companies must expropriate and release unused land for housing the country's urban, landless poor, South African President Cyril Ramaphosa said on Wednesday. "Municipalities and State-owned enterprises need to release unused land and service sites for housing so... 

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa
President Cyril Ramaphosa

SAA CEO suggests business rescue will bring little benefit to airline

By: Rebecca Campbell     23rd May 2018 South African Airways (SAA) CEO Vuyani Jarana is of the opinion that placing the airline under business rescue would not lead to a radically different recovery plan for the deeply indebted and heavy loss-making national carrier. He was answering a question from FlightComm editor and aviation... 

SAA CEO suggests business rescue will bring little benefit to airline

TNPA appoints new COO, GM of corporate affairs

By: Simone Liedtke     21st May 2018 Nozipho Mdawe has been appointed COO of Transnet National Ports Authority (TNPA), with effect from May 21. Mdawe takes over the role recently vacated by Phyllis Difeto and briefly held in an acting capacity by Moshe Motlohi.  

TNPA appoints new COO, GM of corporate affairs
Newly-appointed TNPA COO Nozipho Mdawe

Denel's rescue plan must be fast-tracked – Minister

By: African News Agency      18th May 2018 A rescue plan for South Africa's state-owned arms manufacturer Denel needed to be sped up so it did not negatively affect the capability of the army, Defence Minister Nosiviwe Mapisa-Nqakula said on Friday. Speaking after delivering her department's budget vote, Mapisa-Nqakula said the... 

Dredging project revitalises Durban’s beaches

By: Nadine James     18th May 2018 An innovative sand pumping initiative between eThekwini Municipality and Transnet National Ports Authority (TNPA) has successfully reinstated sand along eroded sections of Durban’s popular Golden Mile and could offer similar benefits for beaches extending further northwards. The municipality and... 

Nzimande urges SOEs to plug leaks

By: News24Wire      18th May 2018 Transport Minister Blade Nzimande called for an end to warring board members and executives at entities within his department, urging them to prioritise turning the organisations around. Nzimande was speaking ahead of his budget vote at the Old Assembly chamber in Parliament on Friday morning.... 

Nzimande urges SOEs to plug leaks
Photo by Creamer Media
Transport Minister Blade Nzimande

Plans in place to redeem utility

18th May 2018 In its presentation to Parliament last month, State-owned power utility Eskom mentioned that it would be dealing with a number of issues within the utility relating to governance, ethics and accountability as well as improving liquidity to ensure financial sustainability. Presented on April 18,... 

Plans in place to redeem utility
Photo by Creamer Media
REVIVING ESKOM The new board Eskom will focus on multiple aspects to bring it to financial sustainability

Ninety-five years of lighting up South Africa

18th May 2018 For the past 95 years, State-owned power utility Eskom, has been at the forefront of contributing positively towards fighting the country’s socioeconomic challenges through the Eskom Development Foundation. The foundation, a nonprofit organisation solely funded by Eskom, has launched many... 

Ninety-five years of lighting up South Africa
PROVIDING POWER Eskom has been supplying South Africa with electricity for 95 years

New research group to bridge skills gap at Eskom

18th May 2018 Applied Thermo Fluid Process Modelling Research Unit (ATProM), a new research group, is building on an existing collaboration between State-owned power utility Eskom and the University of Cape Town (UCT) to provide engineers with up-to-date research and students with real-world experience while... 

New research group  to bridge skills gap  at Eskom
Photo by Creamer Media
HANDS ON Engineering students will get real world experience while helping tackle challenges Eskom faces

Science enhancement initiative expands to EC

18th May 2018 State owned power utility Eskom has signed an agreement with the Technology Research Activity Centre South Africa (TRAC SA) to increase the coverage of the Eskom Science Enhancement Initiative support programme, TRAC 2. In partnership with the Eastern Cape Department of Education, Eskom signed... 

UK airline to launch direct Durban–London air link

By: Rebecca Campbell     18th May 2018 The Dube TradePort Special Economic Zone has announced that the UK’s flag carrier airline, British Airways (BA), is to introduce a direct route between London’s Heathrow Airport and Durban’s King Shaka International Airport. The new service will commence on October 29. (King Shaka is located... 

MPs to summon ministers on R13.8bn owed to Eskom by municipalities

By: African News Agency      16th May 2018 Members of Parliament (MPs) on Wednesday resolved to summon the inter-ministerial task team looking into municipalities which owe State-owned power utility Eskom close to R14-billion in debt to Parliament. At a meeting of Parliament's standing committee on public accounts (Scopa), Eskom board... 

 MPs to summon ministers on R13.8bn owed to Eskom by municipalities

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target

By: Terence Creamer     16th May 2018 Energy Minister Jeff Radebe says one-quarter, or $25-billion, of South Africa's newly announced five-year investment target of $100-billion could be met through investments in new energy projects, including a possible new greenfield crude oil refinery and a gas pipeline linking South Africa to... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target
Photo by Dylan Slater
Energy Minister Jeff Radebe

Mohammed Mahomedy appointed interim CFO at Transnet

By: Creamer Media Reporter      16th May 2018 Mohammed Mahomedy has been appointed as Transnet’s interim CFO, effective May 15. He is a chartered accountant and, over his 12 years of service at Transnet, has led key strategic portfolios within finance. Before being appointed interim CFO, he was GM Finance at Transnet Group Capital. He also... 

SAA briefing to Parliament cancelled after political parties clash

By: African News Agency      16th May 2018 A briefing by South African Airways (SAA) to Parliament's finance committee was called off on Wednesday after MPs from the ruling African National Congress (ANC) and the Democratic Alliance (DA) clashed on whether the meeting should be closed to the public. Acting finance committee chairperson... 

 SAA briefing to Parliament cancelled after political parties clash

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs

16th May 2018 The full text of Public Enterprises Minister Pravin Gordhan’s Budget Vote speech to Parliament on May 15. In it, the Minister warns that it has become evident that several State-owned companies (SOCs) will not be able to trade and borrow their way out of their financial difficulties and that some... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs
Public Enterprises Minister Pravin Gordhan

Government ready to do business with the private property sector – Nxesi

By: Simone Liedtke     15th May 2018 The government is ready to do business with the private property sector to bring certainty to the market, says Public Works Minister Thulas Nxesi. Delivering his Budget Vote in Parliament, on Tuesday, the Minister said market certainty would be based on market-related pricing, improved value and... 

Union welcomes departure of Denel Group CEO

By: Rebecca Campbell     15th May 2018 The Solidarity trade union on Tuesday welcomed the resignation of Denel Group CEO Zwelakhe Ntshepe that same day. It also expressed its support for recently appointed board chairperson (Ms) Monhla Hlahla, complimenting her for the changes she has already made at the State-owned defence industrial... 

Union welcomes departure of Denel Group CEO
Photo by Duane Daws/Creamer Media
Zwelakhe Ntshepe

Denel Group CEO resigns

By: Rebecca Campbell     15th May 2018 State-owned defence industrial group Denel announced on Tuesday that its Group CEO, Zwelakhe Ntshepe, had resigned. The resignation was also with effect from Tuesday. He had been appointed Group CEO only six months ago, following two years in which he had been acting in that capacity. Ntshepe... 

Denel Group CEO resigns
Photo by Duane Daws/Creamer Media
Michael Kgobe

Popo Molefe to lead new interim board at Transnet

By: Simone Liedtke     15th May 2018 Public Enterprises Minister Pravin Gordhan has appointed a new interim board for State-owned Transnet, pending a full appointment, in consultation with Cabinet. The interim board will be led by Popo Molefe as chairperson and includes directors Louis Zeuner, Ramasela Ganda, Ursula Fikelepi, Edward... 

Eskom wants 3% on top of any tariff hike for three years to claw back R66bn-plus 

By: Terence Creamer     14th May 2018 State-owned electricity utility Eskom has proposed a five-year phasing-in period to recoup R66-billion-plus in cost and revenue variances contained in three separate Regulatory Clearing Account (RCA) applications. The applications are being adjudicated simultaneously by the National Energy... 

Eskom wants 3% on top of any tariff hike for three years to claw back R66bn-plus
Photo by Dylan Slater
Eskom acting CFO Calib Cassim

Durban port truck booking system could become compulsory by April 2019

By: Shirley le Guern     11th May 2018 The Durban port may have a compulsory truck booking system in place by April 2019, Transnet Port Terminals (TPT) CE Nozipho Sithole tells Engineering News Online. In an interview on the sidelines of the Transport Forum Special Interest Group, in Durban, this week, she was adamant that TPT had... 

Large power users urge Nersa to hold Eskom accountable for inefficiencies 

By: Terence Creamer     11th May 2018 The Energy Intensive Users Group of Southern Africa (EIUG) has argued that any cost-recovery granted to Eskom in relation to three Regulatory Clearing Account (RCA) applications currently under review by the regulator be capped at R40.5-billion. However, it also urged the National Energy... 

Large power users urge Nersa to hold Eskom accountable for inefficiencies
Photo by Dylan Slater
The Eskom team presenting at the Nersa hearings in Soweto on Friday

Transnet, Tshipi é Ntle sign long-term manganese contract

By: Simone Liedtke     11th May 2018 State-owned Transnet has signed the second long-term agreement under its Manganese Export Capacity Allocation (Meca) programme, which seeks to integrate a number of export manganese contracts. The seven-and-a-half-year contract with manganese miner Tshipi é Ntle will result in 2.1-million tonnes... 

Solidarity union to continue with SAA business rescue plan despite latest bailout 

By: Rebecca Campbell     11th May 2018 The Solidarity trade union will continue with its court application to place State-owned flag carrier South African Airways (SAA) under business rescue, despite another government bailout for the airline, the union announced on Friday. This follows a statement on Thursday by SAA CEO Vuyani Jarana... 

Solidarity union to continue with SAA business rescue plan despite latest bailout
Photo by SAA
An Airbus A340-600 wide-body airliner

SAA to get R5bn capital injection after plea for cash – CEO

By: Reuters     11th May 2018 South Africa has promised another R5-billion ($400-million) capital injection to help its struggling state airline meet urgent financial obligations, the CEO of South African Airways (SAA) said on Thursday. SAA has not generated a profit since 2011 and has already received State guarantees... 

Ministers from SA and India stress bilateral opportunities at business summit

By: Rebecca Campbell     11th May 2018 India has progressed from having almost no trade with South Africa in 1994 to today being the country's sixth to eight largest trading partner, South African Trade and Industry Minister Dr Rob Davies has highlighted. He was addressing the recent India-South African Business Summit in Sandton,... 

More banks needed in SA, including State-owned bank – Ramaphosa 

By: African News Agency      8th May 2018 President Cyril Ramaphosa on Tuesday expressed support for a legislative amendment to create a State-owned bank and breaking the monopoly of the big four commercial banks in South Africa.  "We need to move away from the monopoly of just four banks in our country and create more banks so there is... 

 More banks needed in SA, including State-owned bank – Ramaphosa
President Cyril Ramaphosa

Union urges Parliament to debate SAA

By: Rebecca Campbell     8th May 2018 Trade union Solidarity on Tuesday petitioned Parliament to hold a debate in the House of Assembly on the State-owned flag-carrier airline, South African Airways (SAA). The union also urged the Government to support Solidarity’s application to place the airline under business rescue and to stop... 

Union urges Parliament to debate SAA
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