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State Companies News

Eskom issues senior managers with retrenchment notice 

By: Terence Creamer     7th November 2018 The board at State-owned electricity utility Eskom has approved a process that could result in the retrenchment of senior managers, the company confirmed on Wednesday. Eskom said in a statement that, despite efforts to curb expenditure, operating costs had continued to increase dramatically,... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’ 

By: Terence Creamer     7th November 2018 Transnet acting CEO Tau Morwe is prioritising the restoration of trust, internally and externally, which he acknowledges has been affected by the “turbulence” associated with recent action taken by the board to tackle corruption and recover money “siphoned” from the State-owned company. However,... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’

Ramaphosa says shutting SAA could collapse public finances

By: Reuters     6th November 2018 President Cyril Ramaphosa said on Tuesday that closing down struggling State-owned South African Airways (SAA) could collapse the country's public finances as the government would have to service its debts immediately. Finance Minister Tito Mboweni said last week that his preference would be to... 

Ramaphosa says shutting SAA could collapse public finances

Transnet veteran Morwe steps in as acting CEO for next six months 

By: Terence Creamer     6th November 2018 Freight logistics group Transnet has appointed Tau Morwe as acting CEO for the six-month period from November 1, 2018, to April 30, 2019. The appointment has been approved by Public Enterprises Minister Pravin Gordhan and follows on from the State-owned company’s decision to dismiss Siyabonga... 

Transnet veteran Morwe steps in as acting CEO for next six months
Photo by Creamer Media
Tau Morwe

Leaked Eskom report implicating Brown, Gigaba is 'scandalous, embarrassing' – chair 

By: News24Wire      5th November 2018 The leaking of the Eskom draft preliminary inquiry report which has reportedly implicated former minister Lynne Brown and Malusi Gigaba is "scandalous and embarrassing", chairperson of the Public Enterprises Portfolio Committee Zukiswa Rantho has said. Rantho spoke to Fin24 by phone on Monday... 

 Leaked Eskom report implicating Brown, Gigaba is 'scandalous, embarrassing' – chair
Photo by Reuters
Home Affairs Minister Malusi Gigaba

DPE says State airline should prepare for equity partner 

By: Reuters     5th November 2018 The Department of Public Enterprises (DPE) said on Sunday that struggling State-run South African Airways (SAA) should reduce its cost base and prepare for a strategic equity partner in the near future. Finance Minister Tito Mboweni had said on Thursday that SAA, which has not generated a profit... 

DPE says State airline should prepare for equity partner

Nugent Commission will reveal if Sars misrepresented revenue collection – Treasury 

By: News24Wire      2nd November 2018 Treasury cannot say if the South African Revenue Service (Sars) had intentionally withheld VAT refunds in an effort to misrepresent revenue collections, members of Parliament heard. Treasury officials on Friday responded to public comments made on the mini budget to the Standing Committees on... 

Nugent Commission will reveal if Sars misrepresented revenue collection – Treasury

Sars 'notes' Moyane dismissal

By: African News Agency      2nd November 2018 The South African Revenue Service (Sars) on Friday said it has "noted" the announcement by President Cyril Ramaphosa that he has fired suspended tax commissioner, Tom Moyane. In a terse statement, Sars said any enquiries in this regard must be directed to the Office of the Presidency. 

Sars 'notes' Moyane dismissal

Big power users call for inflation-linked tariff ‘compact’ and industry review 

By: Terence Creamer     1st November 2018 The Energy Intensive Users Group (EIUG) has called for an electricity price compact that sustains tariff increases as close to consumer price inflation as possible for the coming five years. The proposal is made in a precursor to the EIUG’s official response to Eskom’s latest revenue application,... 

Big power users call for inflation-linked tariff ‘compact’ and industry review
Dr Tsakani Mthombeni

Load-shedding spectre returns as unplanned outages rise  

By: Terence Creamer     1st November 2018 The spectre of load-shedding, which has haunted South Africa and its economy since 2008, but has lifted somewhat in recent years, appears to have returned. State-owned electricity producer Eskom confirmed with Engineering News Online on Thursday that the system had become vulnerable once again,... 

Load-shedding spectre returns as unplanned outages rise

Russian rail group aims to develop newly acquired Boksburg factory into global narrow-gauge hub

By: Terence Creamer     31st October 2018 Leading Russian rail engineering group Transmashholding (TMH) confirmed on Wednesday that it, together with its South African partner Mjisa, had completed the acquisition of a 45 000 m2 rail manufacturing facility in Gauteng, South Africa. Black empowerment company Mjisa, which is led by Mafika... 

Russian rail group aims to develop newly acquired Boksburg factory into global narrow-gauge hub
Mjisa Investments director Sam Bhembe, TMH International CEO Martin Vaujour and TMH Africa CEO Jerome Boyet

Sell SAA, it won't fly – economist 

By: News24Wire      31st October 2018 South African Airways (SAA) is a "vanity project" that the economy cannot afford and it should be sold, members of Parliament (MPs) have heard. The standing and select committees on finance on Wednesday heard submissions from the public on the mini budget. The mismanagement of loss-making... 

Sell SAA, it won't fly – economist

New Eskom report warns of possible generation gaps in coming five years  

By: Terence Creamer     31st October 2018 Eskom’s newly released Medium-Term System Adequacy Outlook (MTSAO) report highlights several risks to South Africa’s electricity supply for the period 2018 to 2023 and indicates that additional capacity will be required during the period to restore generation adequacy should the energy... 

New Eskom report warns of possible generation gaps in coming five years

Transnet suspends former supply chain officer for misconduct

By: African News Agency      31st October 2018 Transnet said on Wednesday that it has suspended its former group supply chain officer, Edward Thomas, pending investigations into various serious allegations of misconduct involving a number of contracts. Transnet said that Thomas, currently group general manager for finance, was informed on... 

'I was there when Cabinet approved nuclear programme' – Ramaphosa 

By: News24Wire      30th October 2018 President Cyril Ramaphosa has said he was in the Cabinet meeting where the decision was taken to issue a request for proposals for the nuclear build programme in 2015. This is according to a written reply from the president in response to a question from Democratic Alliance MP David Maynier – who... 

 'I was there when Cabinet approved nuclear programme' – Ramaphosa
President Cyril Ramaphosa

DA to tackle Eskom's 'monopoly' via new bill

By: News24Wire      29th October 2018 Introducing competition in the energy sector will keep electricity prices down, according to the Democratic Alliance (DA). DA leader Mmusi Maimane on Monday announced plans at a briefing to address "Eskom's monopoly" in the energy sector, through the introduction of a private member's bill known... 

 DA to tackle Eskom's 'monopoly' via new bill

Gordhan says anti-graft efforts face 'dangerous fightback'

By: Reuters     29th October 2018 Public Enterprises Minister Pravin Gordhan said on Sunday that efforts to clean up corruption in state-owned companies (SOCs) faced "dangerous" resistance which threatened the country's sovereignty. Gordhan, a former finance minister, has been tasked by President Cyril Ramaphosa with cleaning up... 

Rail industry plagued by theft, vandalism

By: Simone Liedtke     26th October 2018 Train collisions accounted for the highest number of safety incidents in the rail sector during 2017/18, the Railway Safety Regulator’s (RSR’s) annual ‘State of Safety’ report, shows. Other prominent incidents included fires, platform train interchange incidents, people being struck by trains and... 

Manufacturer supplies stainless steel diesel field stoves to SANDF

26th October 2018 Manufacturer and exporter Desert Wolf plays an instrumental role in project teamster, which is the new South African National Defence Force (SANDF) project to upgrade the complete field kitchen facilities for the defence force and is currently supplying it with a range of stainless steel diesel... 

Manufacturer supplies stainless steel diesel field stoves to SANDF
EXCELLENT RESISTANCE Desert Wolf supply mobile field cooking units made from stainless steel

Mboweni doubts SAA will find equity partner in current state 

By: Reuters     25th October 2018 Finance Minister Tito Mboweni said on Thursday that he doubted that the government would find an investor to take an equity stake in struggling State-run South African Airways (SAA) in its current financial state. "I doubt you are going to find an equity partner who will come into SAA in this... 

I will try to protect Treasury from political meddling – Mboweni 

By: African News Agency      24th October 2018 Finance Minister Tito Mboweni on Wednesday said he would strive to protect the National Treasury from political interference but conceded that he would be naive to think he could succeed. "I thought one thing I am going to try to do is provide political protection to National Treasury or to the... 

I will try to protect Treasury from political meddling – Mboweni
Finance Minister Tito Mboweni

SAA allocated R5bn for debt relief

By: Marleny Arnoldi     24th October 2018 State-owned South African Airways (SAA) will receive R5-billion through a special appropriation Bill to settle debt redeeming between now and March 2019. The Medium Term Budget Policy Statement (MTBPS), which was released by the National Treasury on Wednesday, stated that the funds would help to... 

SAA allocated R5bn for debt relief

Mboweni calls for ‘open-minded’ approach to reconfiguration of State firms 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has called for a reconfiguration of South Africa’s debt-laden State-owned companies (SoCs) and has appealed to stakeholders to adopt an open-mind with regard to the form such restructuring could take, particularly in the cases of Eskom and South African Airways... 

Mboweni calls for ‘open-minded’ approach to reconfiguration of State firms

Government allocates R2.9bn for Post Office

By: Marleny Arnoldi     24th October 2018 The South African Post Office (Sapo) will receive R2.9-billion over the next three years to reduce its debt levels, the National Treasury revealed on Wednesday. Sapo has faced financial difficulties and liquidity problems since 2007. Daily Maverick in May reported that Sapo owed many of its... 

Government allocates R2.9bn for Post Office

Nersa unveils adjudication schedule for Eskom’s 15% hike application

By: Terence Creamer     23rd October 2018 The National Energy Regulator of South African (Nersa) has unveiled its adjudication timetable for Eskom’s fourth multiyear price determination (MYPD4) revenue application, which will include public hearings in all nine provinces between January 14 and February 1, 2019. The regulator has also... 

Nersa unveils adjudication schedule for Eskom’s 15% hike application

Energy storage seen as an enabler for grid modernisation in realising IRP 2030 vision 

By: Marleny Arnoldi     23rd October 2018 The advent of technologies such as energy storage, small-scale embedded generation and smart grid solutions are set to fundamentally change South Africa’s electricity landscape, outgoing Eskom generation group executive Thava Govender said during an opening address at the SA Energy Storage... 

Energy storage seen as an enabler for grid modernisation in realising IRP 2030 vision
Photo by Dylan Slater
Eskom generation group executive Thava Govender

Treasury-led initiative offers free financial education to communities

By: African News Agency      23rd October 2018 The National Treasury and related financial organisations have undertaken what they called a successful campaign to financially educate South African communities. The pilot initiative "Money Smart Week South Africa" went live in the communities of Mamelodi, Tembisa, Alexandra and Soweto from... 

Treasury-led initiative offers free financial education to communities

Transnet confirms Gama fired with full pay for six months

By: African News Agency      22nd October 2018 Transnet on Monday confirmed that Siyabonga Gama has been fired as the freight rail operator's chief executive officer and said it was in line with a government drive to turn around State-owned entities.  Transnet said it informed Gama of its decision on Sunday and Monday would be his last... 

 Transnet confirms Gama fired with full pay for six months
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Transnet removes Gama as CEO

By: Reuters     22nd October 2018 The board of directors of South African state-owned logistics firm Transnet said it had removed Chief Executive Siyabonga Gama, who has been accused of misconduct in a multimillion-dollar deal. Transnet, which operates nearly three-quarters of the African rail network, the bulk of which is in... 

Transnet removes Gama as CEO
Photo by Creamer Media
Siyabonga Gama

Revived SARS illicit economy unit already eyeing 58 cases, says Kingon

By: News24Wire      19th October 2018 The soon-to-be reopened South African Revenue Service (SARS) unit probing the illicit economy has already identified 58 cases for investigation, the tax agency's Acting Commissioner Mark Kingon told the Nugent Commission of Inquiry on Friday.  The unit was one of several shut down under the... 

 Revived SARS illicit economy unit already eyeing 58 cases, says Kingon

Regional carrier SA Express continues to re-establish its route network

By: Rebecca Campbell     19th October 2018 State-owned domestic and regional airline SA Express, as part of its relaunch strategy, has reinstated two more of its services. This is part of its plan to, as soon as possible, re-establish its best-performing routes. The two routes concerned are the domestic Johannesburg-Hoedspruit (Mpumalanga... 

Sanral e-toll proposals are desperate threats – Outa

By: Sashnee Moodley     17th October 2018 The South African National Roads Agency Limited’s (Sanral’s) various proposals to try and force motorists to pay outstanding e-toll bills are desperate threats and will be extremely difficult to implement, said the Organisation Undoing Tax Abuse (Outa) on Wednesday. Sanral CEO Skhumbuzo Macozoma... 

Sanral e-toll proposals are desperate threats – Outa

CSIR seeks municipal partners for energy master plan pilot project 

By: Terence Creamer     16th October 2018 The Council for Scientific and Industrial Research (CSIR) aims to partner with a metropolitan council and a district municipality to compile pilot municipal energy master plans for electricity (MEMPs), which will provide the two councils with insight into the best electricity supply blends for... 

CSIR seeks municipal partners for energy master plan pilot project
CSIR Energy Centre head Dr Clinton Carter-Brown

ACSA reports fall in earnings in line with lower aeronautical charges

By: Rebecca Campbell     12th October 2018 The Airports Company South Africa (ACSA), one of the few South African State-owned companies that has been able to keep itself financially healthy, reported recently that, despite declines in its revenues, profits, and earnings before interest, tax, depreciation and amortisation (Ebitda), it was... 

Wind body to request smoothing of procurement profile in IRP submission

By: Terence Creamer     11th October 2018 The South African Wind Energy Association (SAWEA) will appeal for a “smooth rolling procurement” of new wind-energy capacity in its response to the draft Integrated Resource Plan (IRP 2018) so as to close a three-year procurement gap in the current document. The Draft IRP 2018 was released on... 

Wind body to request smoothing of procurement profile in IRP submission
The Nojoli wind farm

Report error actually ranks S Africa 110 out of 162 in economic freedom   

By: Sane Dhlamini     11th October 2018 South Africa now ranks 110 out of 162 as an economically free country, according to the Economic Freedom of the World (EFW) index. The Free Market Foundation (FMF) revealed on Wednesday that South Africa had ranked 94 but an error in World Bank data, spotted and investigated by the FMF’s Eustace... 

Report error actually ranks S Africa 110 out of 162 in economic freedom

Jessie Duarte ‘keen’ to testify at State capture commission  

By: Sashnee Moodley     10th October 2018 The ruling African National Congress’s (ANC’s) deputy general-secretary, Jessie Duarte, said on Wednesday that she was “very keen” to testify at the Commission of Inquiry into State Capture. Speaking at a media briefing around the ANC’s position on former Finance Minister Nhlanhla Nene’s... 

Jessie Duarte ‘keen’ to testify at State capture commission
ANC deputy general-secretary Jessie Duarte

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