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State Companies News

Molefe steps down, but denies it’s an admission of wrongdoing 

By: Terence Creamer     11th November 2016 Eskom CEO Brian Molefe announced on Friday that he would leave the State-owned electricity utility on January 1, 2017, but denied that the move was an admission of “wrongdoing on my part”. The decision follows the publication on November 2 of the Public Protector office’s 'State of Capture'... 

Transnet adds M&A to its growth agenda 

10th November 2016 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights from Transnet's interim results, includings its R20-billion war chest for mergers and acquisitions and the latest developments around its capital programme. 

Transnet adds M&A to its growth agenda
Transnet adds M&A to its growth agenda

Most Transnet lenders agree to relax downgrade triggers

By: Terence Creamer     7th November 2016 South Africa’s freight logistics utility Transnet has reached agreement with the majority of lenders to relax covenant triggers in respect of R30.1-billion in debt. These triggers would otherwise be brought into play in the event that South Africa is downgraded to junk in December. Transnet’s... 

Most Transnet lenders agree to relax downgrade triggers
Photo by Duane Daws
Transnet CFO Garry Pita

Transnet to terminate Trillian relationship, seeks Futuregrowth apology  

By: Terence Creamer     7th November 2016 State-owned logistics group Transnet will be terminating its relationship with both Trillian Capital and Regiments Capital in light of the current fallout surrounding the two companies – developments that are reflected in the Public Protector’s ‘State of Capture’ report and is currently also the... 

Transnet to terminate Trillian relationship, seeks Futuregrowth apology
Transnet CEO Siyabonga Gama on Trillian contracts and relations with Futuregrowth. Camera Work & Editing: Nicholas Boyd. Recorded: 7.11.2016

Transnet sets up R20bn acquisitions war chest, as it pulls in capex horns 

By: Terence Creamer     7th November 2016 State-owned freight logistics group Transnet has set aside a R20-billion war chest for mergers and acquisitions inside South Africa and the rest of the continent, owing to “limited” prospects for organic growth domestically. Specific merger and acquisition (M&A) targets have been identified as... 

Transnet sets up R20bn acquisitions war chest, as it pulls in capex horns
Transnet CEO Siyabonga Gama on the group's R20-billion M&A war chest. Camera Work & Editing: Nicholas Boyd. Recorded: 7.11.2016

Futuregrowth lifts lending suspension on IDC

By: Terence Creamer     7th November 2016 The Industrial Development Corporation (IDC) reported on Monday that Futuregrowth Asset Management’s suspension of lending activities to the State-owned development financier had been lifted with immediate effect. On August 31, Futuregrowth announced that it was freezing all lending to the IDC,... 

Futuregrowth lifts lending suspension on IDC
Photo by Duane Daws
IDC CFO Nonkululeko Dlamini

Sarb deputy governor reappointed

By: Sashnee Moodley     7th November 2016 South African Reserve Bank (Sarb) Deputy Governor Francois Groepe has been reappointed in the position by President Jacob Zuma for five years from January 1, 2017. Groepe is the chairperson of the South African Bank Note Company and the South African Mint Company, which are subsidiaries of Sarb.... 

Sarb deputy governor reappointed
Photo by Bloomberg
Sarb Deputy Governor Francois Groepe

Eskom board still considering whether to take State of Capture report on review 

By: Terence Creamer     4th November 2016 The Eskom board reported on Friday that it was taking legal advice on “inconsistencies” in the Public Protector’s ‘State of Capture’ report, including whether or not to take the report on legal review. The board also insisted that all directors had declared conflicts of interest, complied with... 

Eskom board still considering whether to take State of Capture report on review
Eskom board member Dr Pat Naidoo

Eskom reports interim results amid State Capture controversy 

4th November 2016 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about the power utility’s results following the release of the former Public Protector Thuli Madonsela’s State of Capture report. 

Eskom reports interim results amid State Capture controversy
Eskom reports interim results amid State Capture controversy

Eskom in desperate search for industrial customers as surplus grows 

By: Terence Creamer     4th November 2016 Amid weak economic growth, falling industrial and mining demand and a rise in plant availability, Eskom has appealed to industrial customers to approach it for new connections, saying it is “open for business”. The State-owned utility announced a recovery in the energy availability factor (EAF)... 

Eskom in desperate search for industrial customers as surplus grows

Custom-made hoses to be used by railway groups

4th November 2016 Benoni-based automotive tyre and industrial rubber products producer Dunlop Industrial Products has a high penetration in the African continent where it supplies custom-made solutions, such as the design and supply of vacuum and air brake hoses for State-owned utility Transnet, Passenger Rail... 

Custom-made hoses to be used by railway groups
CUSTOM MADE Dunlop Industrial Products supply custom-made solutions for railway groups and companies globally.

Subcontractor working on expansion and skills development programmes

By: Simone Liedtke     4th November 2016 Tier-two subcontract manufacturer to original-equipment manufacturers (OEMs) IEC Holden, which supplies electric motors and generators to the railway, power generation, oil and gas, and mining industries, is currently directly contracted to OEMs that supply the Transnet Freight Rail rail... 

Subcontractor working  on expansion and skills  development programmes
PRODUCT SUPPLY A drive for electric freight locomotive, tested and ready for dispatch

Best practice guideline aims at enabling global competitiveness

By: Nadine James     4th November 2016 National resource efficiency programme the National Cleaner Production Centre of South Africa (NCPC-SA) has released its resource efficiency and cleaner production  (RECP) best practice guideline for the South African valve manufacturing industry. The objectives of the guideline are to ensure... 

Best practice guideline aims at enabling global competitiveness
VICTOR MANAVHELA The best practice guideline has been well received by the valves manufacturing industry

Transnet ranked a top employer in S Africa

4th November 2016 Last month, State-owned freight and logistics company Transnet was ranked one of South Africa’s top employers for providing its employees with an exceptional working environment. 

Eskom continues to bemoan renewables costs as IPP uncertainty lingers

By: Terence Creamer     3rd November 2016 State-owned electricity utility Eskom offered little certainty on Wednesday about how its current stand-off with renewable-energy independent power producers (IPPs) would be resolved, while continuing to bemoan the high costs associated with its current contracts. However, CEO Brian Molefe did... 

Eskom continues to bemoan renewables costs as IPP uncertainty lingers

Emotional Molefe weighs judicial review and future after damning Public Protector report  

By: Terence Creamer     3rd November 2016 Eskom CEO Brian Molefe has indicated that he is weighing his future options as head of the State-owned electricity producer following the release of a Public Protector report, which raises serious questions about his role in facilitating a coal deal involving Tegeta, a mining company linked to... 

Emotional Molefe weighs judicial review and future after damning Public Protector report
Eskom CEO Brian Molefe outlines his unhappiness with the Public Protector's State of Capture report. Camera Work and Editing: Nicholas Boyd. 3.11.2016

Guptas considered Treasury a 'stumbling block'

By: News24Wire      3rd November 2016 The Treasury was a "stumbling block" to the Guptas' business ambitions and the family asked Deputy Finance Minister Mcebisi Jonas to sack its director general, according to former Public Protector Thuli Madonsela’s "state capture" report. He would have had to do this if he had accepted the... 

Guptas considered Treasury a 'stumbling block'
Photo by Duane Daws
Deputy Finance Minister Mcebisi Jonas

Business finds voice, but holds back from calling for Zuma’s head

By: Terence Creamer     2nd November 2016 In an action that is unprecedented since the advent of democracy in South Africa, organised business has united with religious and civil society groups behind a campaign, known as Save South Africa, which is deeply critical of the current state of government. Business, nevertheless, refrained... 

Business finds voice, but holds back from calling for Zuma’s head

Ndlovu steps down after eight years at the helm of TCTA

1st November 2016 James Ndlovu has stepped down as CEO of the Trans-Caledon Tunnel Authority (TCTA), effective October 31. He had served two terms as head of the organisation. 

Final Ingula unit synchronised to grid

By: Terence Creamer     31st October 2016 Electricity producer Eskom has confirmed that Unit 3 at the 1 332 MW Ingula pumped-storage scheme, in the Drakensberg, was synchronised to the national grid on October 29, making it the fourth and final 333 MW unit to be synchronised at Ingula. Unit 3 was previously synchronised on March 6, 2016,... 

Final Ingula unit synchronised to grid

SAA to continue to post losses until 2021 despite new turnaround promise 

By: Terence Creamer     28th October 2016 Embattled national carrier South African Airways (SAA) has indicated that it is likely to remain lossmaking until 2021, but that the scale of its losses should continue to decline. The State-owned group reported a loss of R1.5-billion in 2015/16, following a loss of R5.6-billion in the previous... 

SAA to continue to post losses until 2021 despite new turnaround promise
Photo by Duane Daws
SAA chairperson Dudu Myeni (centre) flanked by Finance Minister Pravin (left) and Deputy Finance Minister Mcebisi Jonas (right)

South African IPP pioneer laments the ‘dampening effect’ of Eskom’s refusal to sign PPAs 

By: Terence Creamer     28th October 2016 A South African developer of medium-sized hydropower projects is increasingly turning its attention to regional opportunities, largely because of the hydrological potential to the north of the border, but also because of the prevailing uncertainty domestically about the future of the country’s... 

South African IPP pioneer laments the ‘dampening effect’ of Eskom’s refusal to sign PPAs
Renewable Energy Holdings CEO Anton-Louis Olivier

Advisers to be appointed for the realignment of shareholding in State airlines

By: Anine Kilian     26th October 2016 Finance Minister Pravin Gordhan announced on Wednesday that advisers will be appointed to provide technical assistance to government as it considers the possible realignment of its shareholding in State-owned airlines. Delivering the 2016 Medium-Term Budget Policy Statement he noted that several... 

Advisers to be appointed for the realignment of shareholding in State airlines

Zuma confident that under Myeni & Co SAA will prosper 

By: African News Agency      25th October 2016 President Jacob Zuma on Tuesday expressed confidence in the newly-appointed board of South African Airways (SAA), under the leadership of Dudu Myeni, to effect a turnaround at the cash-strapped State-owned airline. “The appointment of the board, including the chair, is for the interests of the... 

Zuma confident that under Myeni & Co SAA will prosper
SAA chairperson Dudu Myeni

IEA upscales five-year renewables growth forecast after 2015 ‘turning point’

By: Terence Creamer     25th October 2016 The International Energy Agency (IEA) has significantly increased its five-year growth forecast for renewable energy in light of what it describes as a “turning point” in 2015, when a record 153 GW of new renewables capacity was added globally. In its ‘Medium-Term Renewable Market Report’, the... 

IEA upscales five-year renewables growth forecast after 2015 ‘turning point’
Photo of Enel's Pulinda solar project in South Africa

Enel expects renewables to prevail in South Africa despite current uncertainty 

By: Terence Creamer     20th October 2016 Enel Green Power South Africa country manager William Price says he is “surprised” by Eskom’s current resistance to signing power purchase agreements (PPAs) for new renewable-energy projects in light of the undeniable success of the competitive-bidding model pursued by the Department of Energy... 

Enel expects renewables to prevail in South Africa despite current uncertainty
Photo by Duane Daws
Enel Green Power South Africa country manager William

Nersa awaits RCA appeal before moving on new Eskom applications

By: Terence Creamer     19th October 2016 The National Energy Regulator of South Africa (Nersa) expects its application for leave to appeal a recent North Gauteng High Court judgment, which found its approval of Eskom’s third multiyear price determination (MYPD3) Regulatory Clearing Account (RCA) for the 2013/14 to be unlawful, to take... 

Nersa awaits RCA appeal before moving on new Eskom applications
Photo by Duane Daws
Nersa regulator Thembani Bukula

Parliament turns away PetroSA, DoE officials

By: Kim Cloete     18th October 2016 Parliament turned away PetroSA board members as well as Department of Energy (DoE) officials after they failed to submit a forensic report into the R14.5-billion loss incurred by the State-owned entity. DoE director-general Thabane Zulu had prepared a presentation relating to the investigation... 

Economy facing major challenges – Zuma

By: Sane Dhlamini     18th October 2016 South African President Jacob Zuma said the country’s economy was facing major challenges despite 3.3% growth in the global economy. He was speaking at the Heads of Missions conference in Pretoria on Tuesday where he addressed South African diplomatic missions that represented the country abroad.  

Economy facing major challenges –  Zuma
Photo by Duane Daws
South African President Jacob Zuma

DA files complaint over SAA results

By: African News Agency      17th October 2016 The Democratic Alliance (DA) has filed a complaint with the Independent Regulatory Board for Auditors (IRBA) against the auditors of South African Airways, DA deputy finance spokesperson Alf Lees said on Monday. Lees said the opposition was asking the IRBA to consider the failure on the part of... 

DA files complaint over SAA results

Wind body wants Nersa to fine Eskom for failing to comply with IPP policy 

By: Terence Creamer     17th October 2016 The South African Wind Energy Association (Sawea) has lodged an official complaint with the National Energy Regulator of South Africa (Nersa) over Eskom’s refusal to enter into power purchase agreements (PPAs) with preferred bidders selected under the country’s highly regarded Renewable Energy... 

Wind body wants Nersa to fine Eskom for failing to comply with IPP policy
South African Wind Energy Association CEO Johan van den Berg

Necsa receives first R1.7m in settlement of Russian fabrication contract

By: Samantha Herbst     11th October 2016 State-owned nuclear company the South African Nuclear Energy Corporation (Necsa) has been paid the first R1.7-million of a fabrication contract to manufacture nuclear reactor components for Russia. The first items fabricated at the Pelindaba site of Necsa, outside Pretoria, have been delivered to... 

Necsa receives first R1.7m in settlement of Russian fabrication contract
Necsa CEO Phumzile Tshelane

Consultancy proposes ways to kick-start South Africa’s GDP growth

By: David Oliveira     7th October 2016 Five actionable plans would be key to help kick-start South Africa’s gross domestic product (GDP) growth – currently standing at below 1% – and address the country’s triple threat of unemployment, inequality and poverty, delegates heard at business consultancy IQ Business’s smartgrowth.co.za... 

South Africa’s economic woes largely self-inflicted – CDE

By: David Oliveira     7th October 2016 While the historical legacy of apartheid and the global economic slowdown have contributed to South Africa’s poor economic growth, Centre for Development and Enterprise (CDE) executive director Ann Bernstein stated that South Africa’s economic woes were predominantly owing to government’s policy... 

SA Express won’t table results after failing auditor’s test 

By: News24Wire      30th September 2016 Public Enterprises Minister Lynne Brown said she won’t table the SA Express annual report for the 2015/16 financial year by the deadline on Friday as the airline failed to satisfy the auditor general's solvency and liquidity test. In a letter to the Speaker of Parliament Baleka Mbete on Thursday,... 

Eskom’s role and outstanding generation plan key to nuclear RFP delay 

By: Terence Creamer     30th September 2016 The issue of Eskom’s role in the procurement process for South Africa’s nuclear new build programme is said to lie at the heart of Cabinet’s surprise decision to delay the release of the controversial nuclear request for proposals (RFP), which was due for dissemination on September 30. However,... 

 Eskom’s role and outstanding generation plan key to nuclear RFP delay
Photo by Duane Daws
Statue at Eskom's head office in Johannesburg

Airbus to assist with Rooivalk upgrade, as it reaffirms Africa commitment

By: Keith Campbell     30th September 2016 The Airbus Group (parent of Airbus, Airbus Defence and Space and Airbus Helicopters) is committed to help develop aeronautical industries in Africa, because it believes that this makes good business sense. For the Group, Africa is defined as sub-Saharan Africa plus Moroco (with Egypt, Libya,... 

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