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State Companies News

Eskom’s business model is ‘no longer fit for purpose’

By: Terence Creamer     17th November 2017 Organised business made an impassioned plea this week for government to urgently review Eskom’s business model, which it said was “no longer fit for purpose”. In a presentation to the National Energy Regulator of South Africa, business also warned that, in the absence of a holistic view within... 

Landmark projects help Esor to improve performance in tough market

By: Dylan Slater     17th November 2017 Despite challenging market conditions and a deteriorating market environment for the six months ended August 31, JSE-listed civils and construction group Esor recorded a “significant improvement” in its finances, with profit before tax of R3.1-million, compared with a loss recorded in February.... 

African models boost construction development

By: Marleny Arnoldi     17th November 2017 Owing to various African countries’ having secured sovereign funding for construction projects that are being planned or in the process of implementation, these countries have the potential to promote rapid gross domestic product (GDP) growth, says consultancy firm WSP.  

African models boost construction development
VISHAAL LUTCHMAN There is a lot more awareness around projects, and legislation, and people are more vocal about the impacts of development projects on their circumstances

Ramaphosa urges law enforcement to probe State capture without delay

By: African News Agency      16th November 2017 Deputy President Cyril Ramaphosa on Thursday said South Africa's law enforcement agencies should waste no time in investigating mounting allegations of state capture at the country's parastatals. "The agencies need to pursue all these allegations with equal vigour... it is something the public as... 

Ramaphosa urges law enforcement to probe State capture without delay
Deputy President Cyril Ramaphosa

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency

By: Terence Creamer     15th November 2017 A new study argues that cash-strapped Eskom could make immediate costs savings of up to R17-billion and boost its liquidity, without undermining security of supply, by accelerating the decommissioning of three of its older coal-fired power stations and by halting construction of units 5 and 6 at... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency
Meridian MD Dr Grové Steyn

South African govt can’t keep track of multiple probes into State rail

By: African News Agency      14th November 2017 There were so many investigations by different service providers into corruption at the Passenger Rail Agency of South Africa (PRASA) that government could not keep track, Transport MInister Joe Maswanganyi told MPs on Tuesday. “There are so many investigations there, some we don’t even know what... 

Brown blocked Koko’s suspension, witness tells Eskom probe

By: African News Agency      14th November 2017 Public Enterprises Minister Lynne Brown took instructions from the Gupta brothers and ordered the Eskom board not to suspend Matshela Koko as CEO of the power utility, a witness on Tuesday told the parliamentary inquiry into the company. Khulani Qoma, the now suspended spokesperson for the Eskom... 

Brown blocked Koko’s suspension, witness tells Eskom probe
Photo by Duane Daws
Public Enterprises Minster Lynne Brown

Business expresses concern over Michael Sachs’ resignation

By: Thabi Madiba     14th November 2017 Business Leadership South Africa (BLSA) on Tuesday said it was concerned with the resignation of head of the National Treasury's Budget Office Michael Sachs. Treasury said on Monday that Sachs would not be leaving the department immediately to ensure a proper handover to another senior official... 

Business expresses concern over Michael Sachs’ resignation
Photo by Duane
BLSA CEO Bonang Mohale

Eskom admits liquidity is ‘not at desired levels’

By: Terence Creamer     13th November 2017 State-owned electricity producer Eskom acknowledged on Monday that its liquidity levels were “not at the desired levels” and indicated that securing the balance of its funding requirement for the current financial year would depend on addressing pressing governance and leadership issues.... 

Eskom admits liquidity is ‘not at desired levels’
Photo by Duane Daws
Eskom interim CEO Sean Maritz

Treasury confirms Budget Office head resignation

By: Thabi Madiba     13th November 2017 National Treasury on Monday confirmed the resignation of the Budget Office head deputy director-general Michael Sachs. According to a National Treasury statement released on Monday, Sachs has expressed his interest to serve the public sector in a different capacity. 

Treasury confirms Budget Office head resignation
Photo by Bloomberg
Finance Minister Malusi Gigaba

Treasury rocked as budget chief quits

By: News24Wire      13th November 2017 National Treasury has been rocked by the resignation of its long-time budget head, Michael Sachs. Fin24 has obtained independent confirmation from two sources close to Treasury that Sachs, a deputy director general who headed up the budget office, quit last week over interference by the Presidency. 

Mokonyane appoints new TCTA chairperson

By: Creamer Media Reporter      10th November 2017 Water and Sanitation Minister Nomvula Mokonyane has appointed Zodwa Manase chairperson of the Trans-Caledon Tunnel Authority (TCTA). She succeeds Monhla Hlahla, who stepped down at the end of October. 

Plans to turn SAA around 

     10th November 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about discussions between South African Airways’ new CEO and board of directors, as well as Finance Minister Malusi Gigaba, regarding the recently announced R10-billion bailout for the airline and its latest... 

Plans to turn SAA around
Plans to turn SAA around

1 000 locally manufactured valves sold to aid electrical power distribution

By: Nadine James     10th November 2017 National research institution Council for Scientific and Industrial Research’s (CSIR’s) collaboration with valve manufacturer Paltechnologies (Paltech) has led to the first locally manufactured aluminium valve. To date, about 1 000 butterfly valves, each 80 mm in diameter, have been manufactured... 

1 000 locally manufactured valves sold to aid electrical power distribution
PALTECH BUTTERFLY VALVE Forms part of a number of products selected by Eskom for localisation

Upcoming energy event to showcase African project opportunities  

By: Simone Liedtke     10th November 2017 A key focus point of the African Energy Indaba (AEI) – which celebrates its ten-year milestone next year – is to provide access to project opportunities across the African continent. 

Upcoming energy event to showcase African project opportunities
Africa Energy Indaba (AEI) MD Liz Hart, AEI chairperson Brian Statham and South African Electrotechnical Export Council CEO Chiboni Evans discuss the AEI next year. Camera: Nicholas Boyd. Editing: Lionel da Silva.

Deputy Minister says he did not attend ‘tea party’ with Gupta brother

By: African News Agency      9th November 2017 Deputy Public Enterprises Minister Ben Martins has rubbished claims by power utility Eskom’s suspended head of legal Suzanne Daniels that he had attended a meeting with Ajay Gupta, Duduzane Zuma and Salim Essa in Johannesburg in Melrose Arch this year. “As the head of Eskom’s legal department, Ms... 

Deputy Minister says he did not attend ‘tea party’ with Gupta brother
Photo by Duane Daws
Deputy Public Enterprises Minister Ben Martins

Manufacturing Circle implores Eskom to do internal clean-up before seeking electricity tariff increase

By: Megan van Wyngaardt     8th November 2017 Around 88% of respondents in the Manufacturing Circle Investment Tracker survey for the third quarter noted that they still relied on electricity as the primary energy source for their organisation, followed by gas and other energy sources. For this reason, the Manufacturing Circle is imploring... 

Manufacturing Circle implores Eskom to do internal clean-up before seeking electricity tariff increase
Photo by Duane Daws
Manufacturing Circle chairperson Andre de Ruyter

Johannesburg faces R17bn electricity infrastructure challenge

By: Megan van Wyngaardt     8th November 2017 The undoings of the previous administration has resulted in the City of Johannesburg requiring an investment of around R17-billion over the next ten years to upgrade its ageing electricity infrastructure. City of Johannesburg Mayor Herman Mashaba said his administration was facing serious... 

Johannesburg faces R17bn electricity infrastructure challenge

Sanral denies writing off R3bn debt in unpaid e-toll fees in South Africa

By: African News Agency      8th November 2017 The South African Roads Agency Limited (Sanral) on Wednesday denied that it had written off impairment losses of R3.6-billion for unpaid e-toll debts older than three years, compared to R92-million in 2015/16. This comes after Sanral on Tuesday appeared before the Portfolio Committee on Transport... 

New SAA leadership team promises to take airline ‘back from the brink’ 

By: Terence Creamer     7th November 2017 Finance Minister Malusi Gigaba has promised that there will be a clear delineation of the roles between the shareholder, the board and the CEO at embattled national carrier South African Airways (SAA), following the constitution of the new board on November 3 and the appointment of Vuyani Jarana... 

New SAA leadership team promises to take airline ‘back from the brink’
Finance Minister Malusi Gigaba on how the R10-billion capital injection will be paid to SAA. Camera Work: Duane Daws. Editing: Lionel da Silva.

Zuma agrees to set up Sars inquiry – Gigaba

By: News24Wire      7th November 2017 Finance Minister Malusi Gigaba has asked President Jacob Zuma to set up an urgent judicial inquiry into tax administration and governance at the South African Revenue Services (Sars) Gigaba, speaking after a media briefing about plans for South African Airways on Tuesday, said Zuma had agreed to... 

 Zuma agrees to set up Sars inquiry – Gigaba
Photo by Bloomberg
Finance Minister Malusi Gigaba

Parliament wants report clearing Sars number two

By: African News Agency      6th November 2017 Parliament’s standing committee on finance on Monday said it had sent official letters to South African Revenue Service (Sars) commissioner Tom Moyane and Finance Minister Malusi Gigaba asking for a copy of a disciplinary inquiry report which cleared a senior Sars official. Jonas Makwakwa, widely... 

Parliament wants report clearing Sars number two

Trillian whistleblower says Eskom’s Singh paid R30.6m for no reason

By: African News Agency      3rd November 2017 A whistleblower on Friday told the parliamentary inquiry into Eskom the power utility settled a fraudulent invoice from Trillian for R30.6-million. Former Trillian Management Consulting (TMC) chief executive Bianca Goodson said she found her signature on a cover letter to the invoice that was... 

US energy research body aims to increase African impact with focus on energy poverty

By: Terence Creamer     3rd November 2017 Leading US public interest energy and environmental research organisation the Electric Power Research Institute (EPRI) is aiming to increase its relevance and impact in Africa by integrating the problem of energy poverty into its portfolio of research activities. Senior regional manager Barry... 

US energy research body aims to increase African impact with focus on energy poverty
EPRI senior regional manager Barry MacColl

Eskom hike not justifiable, sustainable – Busa

By: Natasha Odendaal     3rd November 2017 State-owned power utility Eskom’s bid for above-inflation tariff increases was not justifiable nor sustainable in the current climate, Business Unity South Africa (Busa) said on Friday. The pursuit of higher revenues without first examining its business model will just add further strain to an... 

Treasury says PIC will not invest in national airline

By: Reuters     3rd November 2017 South Africa has not yet identified a potential equity partner for troubled national airline SAA and the State pension fund manager PIC will not invest either, National Treasury said in a response to questions to Parliament on Friday. The Public Investment Corporation, one of the continent's... 

Treasury says PIC will not invest in national airline

Transnet seeks to navigate State Capture allegations, economic storms 

     2nd November 2017 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about Transnet’s new 4.0 strategy and how it intends to deal with State Capture allegations. 

Transnet seeks to navigate State Capture allegations, economic storms
Transnet seeks to navigate State Capture allegations, economic storms

Treasury grilled on R74bn deviation procurement

By: News24Wire      2nd November 2017 Treasury's Director General Dondo Mogajane was grilled by members of SCOPA on Wednesday on how it was possible for state entities and institutions to have been allowed to deviate from required procurement processes to the tune of a total of R74-billion in 2016/17. While the public procurement... 

SAA’s failure to settle its debt would have resulted in default – Ramaphosa

By: African News Agency      2nd November 2017 Deputy President Cyril Ramaphosa said the South African Airways (SAA) bailout was a crucial decision made by government because failure to settle debts would have resulted in SAA defaulting on its debts. Ramaphosa was answering questions in the National Council of Provinces. 

Heavy increase in irregular expenditure in South Africa, now pegged above R45bn, says AG 

By: African News Agency      1st November 2017 Irregular expenditure by government departments and State-owned entities has ballooned by over 50% in 2016/2017 when compared to the previous financial year, topping R45-billion, Auditor-General Kimi Makwetu revealed on Tuesday. “Irregular expenditure has increased by 55% since the previous year... 

Heavy increase in irregular expenditure in South Africa, now pegged above R45bn, says AG
Auditor-General Kimi Makwetu

PIC head says needs bigger role in governance of State firms

By: Reuters     31st October 2017 South Africa's Public Investment Corporation (PIC) needs to play a bigger role in improving governance in State-owned companies, its chief executive officer Daniel Matjila said on Tuesday. The PIC, which manages government employees' pension money, is the biggest investor in State-owned firms'... 

Transnet looking abroad for growth as it again pares back South Africa capex 

By: Terence Creamer     30th October 2017 State-owned freight logistics group Transnet continues to pare back its investment portfolio in the South African, which is expected to grow by less than 1% in 2017. The group, which operates rail, port and pipelines businesses, expects to invest R229.2-billion over the coming seven years,... 

Transnet looking abroad for growth as it again pares back South Africa capex
Transnet CEO Siyabonga Gama outlines how the utility is dealing with ongoing allegations of State Capture and corruption. Recorded: 30.10.2017. Camera Work & Editing: Nicholas Boyd

Brown appoints executives at Denel, Safcol and Alexkor

By: Creamer Media Reporter      26th October 2017 Public Enterprises Minister Lynne Brown has appointed Zwelakhe Ntshepe group CEO of Denel. He joined Denel 21 years ago and most recently served as acting group CEO. 

Brown appoints executives at Denel, Safcol and Alexkor
Photo by Duane Daws
Zwelakhe Ntshepe

Software giant SAP comes clean on dubious practices in South Africa

By: African News Agency      26th October 2017 Software giant SAP on Thursday said it had voluntarily disclosed its breach of the US Foreign Corrupt Practices Act in relation to allegations its South African operation paid kickbacks to a Gupta-linked company. In a statement on its website, SAP said it has initiated disciplinary procedures... 

Software giant SAP comes clean on dubious practices in South Africa

Outa lays corruption charges against former PRASA board members over Swifambo contract

By: Anine Kilian     26th October 2017 The Organisation Undoing Tax Abuse (Outa) has laid criminal charges of corruption and fraud against former board members of the Passenger Rail Agency of South Africa (PRASA) over its “too tall” locomotive contract. PRASA awarded a contract to local company Swifambo in March 2013 for the purchase... 

Gigaba’s maiden MTBPS receives mixed reviews

By: Sane Dhlamini     26th October 2017 Finance Minister Malusi Gigaba’s maiden Medium-Term Budget Policy Statement (MTBPS) has received mixed reactions, with many organisations calling out its lack of attention to detail. Gigaba MTBPS was delayed by Economic Freedom Fighters MPs who objected to him delivering the budget on the basis... 

Gigaba’s maiden MTBPS receives mixed reviews
Photo by Reuters
Finance Minister Malusi Gigaba

COMMENT: Eskom is indeed an ‘enormous risk’ 

By: Terence Creamer     26th October 2017 While there are very few positives to draw from Finance Minister Malusi Gigaba’s maiden Medium-Term Budget Policy Statement (MTBPS), his acknowledgement that Eskom poses an “enormous risk” to the entire economy is one. “Eskom exposes government to an enormous risk because of the size of its... 

COMMENT: Eskom is indeed an ‘enormous risk’
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