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State Companies News

Nene unpacks SOE failures, remedial measures 

By: Marleny Arnoldi     22nd August 2018 Finance Minister Nhlanhla Nene on Tuesday addressed governance challenges in State-owned enterprises (SOEs) during a National Council of Provinces gathering, stating that rebuilding should focus on the institutions, rather than individuals. “Given the dire situation in which some of these SOEs... 

Study initiated to assess conversion of Kelvin power station from coal to gas

By: Terence Creamer     21st August 2018 A $1.3-million feasibility study has been initiated into the prospect of converting the coal-fired Kelvin power station, east of Johannesburg, into a 450 MW to 600 MW gas-fired power station. The study will also assess the potential for developing the Kelvin site into a gas distribution hub for... 

Study initiated to assess conversion of Kelvin power station from coal to gas
The Kelvin power station

Treasury slams excess cash on NSFAS books

By: News24Wire      21st August 2018 The National Student Financial Aid Scheme (NSFAS) had R153.8-million more cash left than projected at the end of the 2017/18 financial year, it has emerged. Speaking to Parliament's Standing Committee on Appropriations on Tuesday, Treasury’s deputy director general Dr Mampho Modise explained that... 

 Treasury slams excess cash on NSFAS books

Sanral bears brunt of lack of government clarity on e-tolls 

By: News24Wire      21st August 2018 The South African National Roads Agency (Sanral) has collected R5.6-billion less in e-toll fees than budgeted mostly because there is no clarity from government about the future of the system, Parliament has heard. Briefing the Standing Committee on Appropriations on Tuesday, Treasury’s deputy... 

 Sanral bears brunt of lack of government clarity on e-tolls

Fear rules Sars, Nugent inquiry hears

By: News24Wire      21st August 2018 A climate of fear has engulfed the South African Revenue Service (Sars) to the point that some staff members are afraid to come forward to give evidence to the Nugent Commission, which is probing tax administration and governance issues at the revenue service. This revelation came out at the... 

 Fear rules Sars, Nugent inquiry hears

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

By: Terence Creamer     20th August 2018 A surge in irregular expenditure to over R8-billion triggered a qualification of Transnet’s 2018 financial results, all but eclipsing an otherwise strong financial and operational performance by the State-owned group. The irregular expenditure related primarily to procurement undertaken by... 

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

Finance ministers fired by Zuma to testify at State capture inquiry

By: News24Wire      20th August 2018 Two of the finance ministers who Jacob Zuma fired during his time as South Africa's president are expected to testify at the State capture commission of inquiry. Head of legal services, Paul Pretorius SC, told the commission that current Public Enterprises Minister Pravin Gordhan and current... 

Finance ministers fired by Zuma to testify at State capture inquiry
Finance Minister Nhlanhla Nene

Zondo appeals to South Africans to bring evidence on State capture

By: African News Agency      20th August 2018 The chairperson of the commission of inquiry probing allegations of corruption and State capture, Deputy Chief Justice Raymond Zondo on Monday appealed to South Africans to come forward with any information and evidence they think might help the commission in its investigation. Zondo opened the... 

 Zondo appeals to South Africans to bring evidence on State capture
Photo by Reuters
Deputy Chief Justice Raymond Zondo

State capture inquiry gets underway in Johannesburg

By: African News Agency      20th August 2018 The judicial commission of inquiry into alleged capture of the South African State and its entities, referred to as ''State capture'', is set to begin on Monday in Johannesburg. At the centre of the hearings are the fugitive Gupta family, who have since left the country as allegations of... 

State capture inquiry gets underway in Johannesburg
Deputy Chief Justice Raymond Zondo

Get your house in order, MPs tell Transnet

By: Reuters     17th August 2018 Parliament's watchdog on public account on Friday said it had instructed the Transnet board and management to curb graft at the State-owned company. "The Standing Committee on Public Accounts (Scopa) has told the Transnet Board and management to stop the looting because the business is able to... 

Wave of innovation for infrastructure development

By: Donald Makhafola     17th August 2018 With business spend in Africa predicted to grow from $2.6-trillion in 2015 to $3.5-trillion by 2025, wholly black-owned construction group Concor Construction believes that this trend will redefine urban areas and cities, triggering the need for rapid infrastructure development and services.... 

Wave of innovation for  infrastructure development
COLLABORATION Concor Construction wants to work with governments and municipalities to meet their mandates for infrastructure delivery

Ramaphosa launches commission of inquiry into PIC

By: African News Agency      16th August 2018 President Cyril Ramaphosa will appoint a commission of inquiry to investigate the scandal-plagued Public Investment Corporation (PIC), it was announced on Thursday afternoon. The PIC invests government pensions and handles assets worth about R1.928-trillion. It is one of the biggest known funds... 

SA Express airline cleared to fly again

By: Rebecca Campbell     16th August 2018 Small, State-owned South African airline SA Express confirmed on Thursday that it would restart its operations on August 23. This announcement followed a statement by Public Enterprises Minister Pravin Gordhan to Parliament’s Portfolio Committee on Public Enterprises on Wednesday that the carrier... 

SA Express airline cleared to fly again
Photo by SA Express
A Bombardier CRJ700 of SA Express

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

Transnet signals intention to suspend CEO Gama

By: African News Agency      16th August 2018 The Transnet board has served notice on CEO Siyabonga Gama and two other top senior officials that it intends to place them on precautionary suspension. Chief procurement officer Thamsanqa Jiyana and supply chain manager Lindiwe Mdletshe also received letters on Wednesday. 

Transnet signals intention to suspend CEO Gama
Photo by Creamer Media
Transnet CEO Siyabonga Gama

Gordhan announces whistleblower hotline to boost fight against corruption

By: News24Wire      15th August 2018 Stabilising State-owned enterprises could take six months or longer, depending on the extent of corruption, said Public Enterprises Minister Pravin Gordhan. The minister on Wednesday briefed the portfolio committee on public enterprises on the progress made in addressing governance challenges at... 

Gordhan announces whistleblower hotline to boost fight against corruption
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

SA Express flights to take off next week – Gordhan

By: News24Wire      15th August 2018 Grounded SA Express will be ready to take off next week, said Public Enterprises Minister Pravin Gordhan. He was briefing the portfolio committee on public enterprises in Parliament on Wednesday, on the progress made in addressing governance challenges at various state-owned enterprises. Speaking... 

Lazard drafting plan to bolster Eskom's balance sheet – sources

By: Reuters     14th August 2018 State-owned power firm Eskom has hired financial adviser Lazard to draft a plan to shore up its balance sheet as it struggles to emerge from a financial crisis, two banking sources told Reuters. Cash-strapped Eskom is critical to Africa's most industrialised economy as it supplies more than 90%... 

Sars appoints acting finance chief to permanent position

By: Schalk Burger     7th August 2018 The South African Revenue Service (Sars) has appointed Johnstone Makhubu as its chief officer: finance with immediate effect. He had been the acting chief financial officer since August 2017. 

Corruption Watch report highlights schools, SOEs, health sector as areas of concern

By: Nadine James     7th August 2018 From January 1 to June 30, 2 469 cases of corruption were lodged with Corruption Watch the organisation noted in its ‘2018 Analysis of Corruption Trends (ACT)’ report, which it released on Tuesday. Six areas of concern were highlighted by these cases, including schools, municipalities, the South... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand 

By: Terence Creamer     6th August 2018 State-owned electricity producer Eskom has confirmed that it has entered into a sales incentive pilot programme with nine large industrial customers in a bid to stabilise sales to electricity-intensive industries. The two-year sales incentive pilot programme, which commenced on June 1, has the... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand

Power system recovery to take 30 days, load-shedding risk remains high

By: Simone Liedtke     3rd August 2018 State-owned Eskom expects it will take up to 30 days for the power system to recover from the effects of the recent industrial action, which interrupted continuous processes at the power stations. During the 30-day recovery period, the risk of load-shedding remains high, it warned on Friday. 

Power system recovery to take 30 days, load-shedding risk remains high

Numsa takes Eskom's latest wage offer back to members

By: African News Agency      3rd August 2018 The National Union of Metalworkers of South Africa (Numsa) said on Friday that it would take the latest wage offer made by power utility Eskom to its members for ratification.  This, as Numsa, together with other trade unions, met with the management team of Eskom on Thursday under the auspices... 

Numsa takes Eskom's latest wage offer back to members
Numsa general secretary Irvin Jim

Action needed to integrate UAVs into civil airspace in SA

By: Rebecca Campbell     3rd August 2018 Unmanned aerial vehicle (UAV) manufacturer Denel Dynamics (which also produces missiles and space technology) has called for a national programme to integrate UAVs (popularly called drones) into the country’s civilian controlled air space. Controlled air space is air space in which all air... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Funding for SA firms seeking to increase African trade and investment exposure

Union welcomes appointment of Siza Mzimela as acting SAX CEO

By: African News Agency      2nd August 2018 The National Transport Movement (NTM) on Wednesday welcomed the announcement of Siza Mzimela as acting chief executive of beleaguered airline, SA Express (SAX). In a statement, NTM described Mzimela's appointment as an "excellent choice".  

Control of SAA transferred back to public enterprises – Treasury

By: African News Agency      2nd August 2018 Control of South African Airways (SAA) administration has been transferred back to the public enterprises minister from the finance minister, Treasury said on Wednesday. In a statement, Treasury said a proclamation signed by President Cyril Ramaphosa giving effect to the transfer was gazetted on... 

EIUG calls on Eskom to end impasse, resolve conflict

By: Simone Liedtke     1st August 2018 The Energy Intensive User Group (EIUG) of Southern Africa is concerned about the continuing industrial conflict at State-owned Eskom, it said in a statement on Wednesday. It called on the power utility and its unions to find a way to end the impasse, and to “show responsibility in respect of... 

State capture inquiry to start on August 20

By: News24Wire      27th July 2018 Deputy Chief Justice Raymond Zondo has announced that the judicial commission of inquiry into allegations of State Capture will officially begin on August 20. Zondo made the announcement at a media briefing in Johannesburg on Friday. Earlier this week, Zondo welcomed a decision by the North... 

African countries are rapidly expanding their use of UAVs, but South Africa lags

By: Rebecca Campbell     27th July 2018 The number of applications for unmanned aerial vehicles (UAVs/unmanned aerial systems (UASes) in Africa was increasing rapidly, Council for Scientific and Industrial Research (CSIR) principal aeronautical engineer John Monk told the aviation session of the recent Southern African Transport... 

Eskom’s financial position 

25th July 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s latest financial results, the utility’s need to raise more debt and what can be expected from Eskom in terms of the publication of a new long-term corporate plan. 

Eskom’s financial position
Eskom’s financial position

Eskom leaders hint at need for independent system operator 

By: Terence Creamer     24th July 2018 South Africa’s cash-strapped electricity utility Eskom is considering far-reaching changes to its business model as part of an in-depth review, being undertaken ahead of the finalisation of a new corporate plan. Chairperson Jabu Mabuza already flagged this week that the new corporate plan, which... 

Eskom leaders hint at need for independent system operator
Photo by Dylan Slater
Eskom chairperson Jabu Mabuza

SAA in talks with other airlines to strengthen its business

By: Rebecca Campbell     24th July 2018 Troubled State-owned national flag carrier South African Airways (SAA) has reported that it is in talks with other airlines on renewing or creating new commercial partnerships. SAA stressed, in its statement, that these discussions were only about “commercial agreements such as interline,... 

SAA in talks with other airlines to strengthen its business
Photo by Stock image
An SAA Airbus A340-300 at Johannesburg’s OR Tambo International Airport

LEIP MoU signed, 101 669 potential jobs created

By: Simone Liedtke     23rd July 2018 Up to 101 669 jobs could be created during the first five years of construction of the Limpopo Eco-Industrial Park (LEIP), which Eco-Industrial Solutions (EIS) CEO Deshika Kathawaroo on Monday said would “fundamentally change” the Limpopo province’s contribution to South Africa’s strategic... 

LEIP MoU signed, 101 669 potential jobs created
Photo by Simone Liedtke
(Left) Limpopo Economic Development Agency group CEO Ben Mphahlele and (right) Eco-Industrial Solutions CEO Deshika Kathawaroo (right) at the signing ceremony on Monday

Eskom confident of raising R72bn despite qualified audit  

By: Terence Creamer     23rd July 2018 Financially stressed electricity producer Eskom expressed confidence on Monday that it would be able raise the R72-billion it required for the 2019 financial year, despite having received a qualified audit opinion for the 2018 financial year, reporting a R2.3-billion loss and nearly 20-billion in... 

Eskom confident of raising R72bn despite qualified audit
Eskom chairperson Jabu Mabuza explains why IPPs do not pose a financial risk to the utility. Camera Work & Editing: Nicholas Boyd. Recorded: 23.07.2018

We're doing all we can to end long wait in Home Affairs queues – Gigaba 

By: News24Wire      23rd July 2018 Home Affairs Minister Malusi Gigaba says his department is doing all it can to end the long wait in queues at their various branches across the country. Gigaba was speaking at a media briefing in Pretoria about progress made in the department's "War on Queues" campaign, which he launched in April... 

We're doing all we can to end long wait in Home Affairs queues – Gigaba
Photo by Bloomberg
Home Affairs Minister Malusi Gigaba

Transnet expansion project uplifts the community

20th July 2018 State-owned freight rail company Transnet’s R2.38-billion Manganese Rail Phase 1 Expansion project created about 2 200 employment opportunities in the remote Northern Cape region and provided skills development and training to local staff. 

Transnet expansion project  uplifts the community
BENEFICIARIES Women to Women Shelter is one of the community organisations that benefited from the project

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