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State Companies News

Eskom wage negotiations continue

By: African News Agency      10th July 2018 Wage negotiations between power utility Eskom and unions resumed on Tuesday in Johannesburg. National Union of Mineworkers (Num) spokesperson Livhuwani Mammburu told television news channel eNCA that unions have given Eskom two options of a one year deal or a three year one. Eskom on Friday... 

Eskom welcomes apology and R902m from McKinsey

By: News24Wire      10th July 2018 Eskom on Monday welcomed McKinsey's apology to South Africans and confirmed it received R902-million from the global consultancy firm. Eskom Group Chief Executive Phakamani Hadebe said the payment goes a long way towards the utility's quest to address the issues of lost funds and regaining trust.... 

Eskom welcomes apology and R902m from McKinsey
Photo by Dylan Slater
Eskom Grop CEO Phakamani Hadebe

McKinsey overhauls South African office after graft scandal 

By: Reuters     9th July 2018 McKinsey has made sweeping changes to its South Africa business to try to rebuild its reputation following an ill-fated deal with friends of scandal-plagued former President Jacob Zuma. Kevin Sneader, who started as McKinsey's global managing partner last week, announced on Monday that the firm... 

McKinsey overhauls South African office after graft scandal

Post Office strike halts payment to grant beneficiaries

By: News24Wire      9th July 2018 Thousands of workers at the South African Post Office (Sapo) and Telkom downed tools on July 6 to demand higher wages. They are affiliated to three unions - the Communication Workers', Customs and Democratic Postal and Communications unions, GroundUp reported. The workers are demanding a 12%... 

Post Office strike halts payment to grant beneficiaries

Eskom executive structure strengthened with the appointment of a COO

By: Nadine James     6th July 2018 The board of State-owned power utility Eskom has appointed Jan Oberholzer COO. The board, which was appointed in January, was mandated to resolve and take decisions to address the immediate challenges facing Eskom. Key to this mandate was to bring stability to the executive leadership structures... 

Davies appoints senior DTI officials as SABS co-administrators

By: Terence Creamer     6th July 2018 Trade and Industry Minister Dr Rob Davies has appointed three senior Department of Trade and Industry (DTI) officials as co-administrators of the South African Bureau of Standards (SABS), which he placed under administration on June 28 after dissolving the SABS board. The co-administrators had... 

Davies appoints senior DTI officials as SABS co-administrators
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Eskom ups pay rise offer to 6.7%, NUM says ready to strike

By: Reuters     6th July 2018 South Africa's State-run power utility Eskom has raised its latest pay rise offer to 6.7% from around 6% to three unions it is in negotiations with, a source with the National Union of Mineworkers (NUM) said on Friday. The NUM source earlier said its members were demanding as much as 12% but... 

Eskom ups pay rise offer to 6.7%, NUM says ready to strike

Troubles at SAA helping to drive local businesses to budget airlines

By: Rebecca Campbell     6th July 2018 Business travel sources have reported that troubled State-owned national carrier South African Airways (SAA) has slashed the discounts it gives to corporations for business travel. Furthermore, the airline’s cutbacks on certain routes have also adversely affected major businesses. The consequence... 

Sars kicks off tax season with charter outlining taxpayers' rights

By: News24Wire      2nd July 2018 The South African Revenue Service (Sars) is taking steps to improve the service delivered to taxpayers with the release of the Service Charter which outlines taxpayers’ rights and responsibilities as well as service standards they can expect from the agency. Acting Sars commissioner Mark Kingon... 

 Sars kicks off tax season with charter outlining taxpayers' rights

Restoring the credibility of Sars critical – Nene

By: African News Agency      2nd July 2018 As the annual tax filing season opened, Finance Minister Nhlanhla Nene on Monday said government was deeply committed to stabilising the South African Revenue Service (Sars) to a credible operation and making sure it met collection targets. "There can be no mission more important than stabilising... 

 Restoring the credibility of Sars critical – Nene
Photo by Bloomberg
Finance Minister Nhlanhla Nene

Radebe says labour cannot be 'left behind' in energy transition 

By: Terence Creamer     29th June 2018 Energy Minister Jeff Radebe urged business to support government in ensuring that South Africa’s energy transition is a “just” one for labour, especially those operating in the coal-mining sector. In an engagement on Friday with business leaders in Johannesburg, following a meeting of the energy... 

Radebe says labour cannot be 'left behind' in energy transition
Photo by Dylan Slater
Energy Minister Jeff Radebe

Eskom raises wage offer to unions – Numsa

By: Reuters     28th June 2018 South Africa's State power utility Eskom has raised its wage increase offer for this year to 6.2% from 4.7% previously, the National Union of Metalworkers of South Africa (Numsa) said on Thursday. Numsa said in a statement that three unions negotiating with Eskom were demanding a 9% increase in... 

Eskom raises wage offer to unions – Numsa

Rogue unit allegations hogwash, former Sars enforcement head tells inquiry

By: News24Wire      28th June 2018 The former head of South African Revenue Service (Sars) enforcement Gene Ravele told the commission of inquiry into affairs at the tax agency that allegations over the so-called ‘rogue unit’ are nothing but hogwash. During an interview after his testimony, Ravele stated that the unit was... 

 Rogue unit allegations hogwash, former Sars enforcement head tells inquiry

Government vows to go after State capture loot

By: African News Agency      28th June 2018 South African Finance Minister Nhlanhla Nene said on Thursday that government was working with international institutions to trace and recover all the monies that were stolen from the country's coffers through "State capture". "Perhaps at times we underestimate the damage that State capture did.... 

Government vows to go after State capture loot
Photo by Bloomberg
Finance Minister Nhlanhla Nene

Zambian Parliament recommends private investment in State firms

By: Reuters     27th June 2018 Zambia must consider seeking equity partners to recapitalise its State-owned firms, a Parliamentary committee recommended on Tuesday. Zambia transferred the shares of 29 of its 33 State-owned companies in 2015 from the ministry of finance to the government's investment arm, the Industrial... 

More must be done for youth development, job creation – Mabuza

By: Anine Kilian     22nd June 2018 The Human Resource Development Council (HRDC) should be able to contribute meaningfully in answering why South Africa’s unemployment rate remains stubbornly high, at 27.7%, Deputy President David Mabuza said on Friday.   Addressing delegates at the twentieth HRDC meeting, in Johannesburg, he... 

IDC denies politically connected elite has ‘hijacked’ black industrialist scheme

By: Terence Creamer     22nd June 2018 South Africa’s Industrial Development Corporation (IDC) has defended the integrity of the credit approval processes for its flagship Black Industrialist Programme and has given the assurance that the scheme has not been captured by individuals with connections to the governing African National... 

IDC denies politically connected elite has ‘hijacked’ black industrialist scheme
Photo by Creamer Media
Economic Development Minister Ebrahim Patel has promised that the IDC will release the names of beneficiaries

Restructuring Eskom top of South Africa's agenda – Nene

By: Reuters     22nd June 2018 Restructuring State-run power firm Eskom is "on top of the agenda" for South Africa, Finance Minister Nhlanhla Nene said on Friday, though he said recent outages likely had very little impact on the economy. Africa's most industrialised economy suffered power outages earlier in June because of... 

Restructuring Eskom top of South Africa's agenda – Nene
Photo by Creamer Media
Finance Minister Nhlanhla Nene

Gama cites need for digital change to ensure greater economic growth

By: Simone Liedtke     21st June 2018 With an unemployment rate of about 27% in South Africa, State-owned Transnet CEO Siyabonga Gama highlights the need for creating, on an urgent basis, more job absorption strategies. This vision, he explained at the Vision 2030 Summit, in Johannesburg, on Thursday, will involve employing more of... 

Gama cites need for digital change to ensure greater economic growth
Photo by Dylan Slater
Transnet CEO Siyabonga Gama

Eskom wage negotiations enter final day

By: African News Agency      21st June 2018 Wage negotiations between Eskom and trade unions will on Thursday enter the final day after workers rejected the 4.7% wage offer from the embattled power utility. Trade unions on Wednesday said they presented a consolidated wage proposal to Eskom as talks resumed for a second day this week after... 

Eskom wage negotiations enter final day

Trade unions to respond to Eskom's 4.7% wage offer increase

By: African News Agency      20th June 2018 Trade unions involved in wage negotiations with Eskom will give a joint response to the power utility's revised 4.7 percent wage offer when the talks resume for the second day on Wednesday morning. In a joint statement, the National Union of Mineworkers, the National Union of Metalworkers of... 

 Trade unions to respond to Eskom's 4.7% wage offer increase

Trade unions to debate Eskom's 4.7% wage offer increase

By: News24Wire      20th June 2018 All recognised trade unions at Eskom met with South Africa's power utility on Tuesday to restart wage talks and would debate the new offer, the unions said. In a joint statement, the National Union of Mineworkers, the National Union of Metalworkers of South Africa, and Solidarity said they met... 

 Trade unions to debate Eskom's 4.7% wage offer increase

Eskom wage talks off to a bad start – union

By: News24Wire      19th June 2018 Talks between Eskom and unions got off to a bad start on Tuesday, with the power producer reneging on its earlier agreement to include "high-powered" members in its delegation, a union spokesperson said. "The talks started this morning, but we are not happy with Eskom’s failure to honour its... 

 Eskom wage talks off to a bad start – union

Denel CFO placed on special leave

By: Creamer Media Reporter      18th June 2018 Denel CFO Odwa Mhlwana has been placed on special leave pending a disciplinary process into allegations of misconduct against him. Denel on Monday said its board has taken this step for the purposes of creating a conducive environment that will allow for the start of a verification process in... 

Denel CFO placed on special leave

NUM slams claims of 'sabotage' by Eskom

By: African News Agency      18th June 2018 The National Union of Mineworkers (NUM) on Monday said that Eskom was lying to the public that workers affiliated to the trade union were responsible for sabotaging work being done at the power utility's power stations across the country.  This comes as Eskom last week began implementing... 

NUM slams claims of 'sabotage' by Eskom

State capture at heart of Eskom’s load-shedding woes – Maimane

By: News24Wire      18th June 2018 Diversifying the energy mix, reducing demand and putting an end to the Eskom monopoly in the energy sector are some of the proposals the Democratic Alliance (DA) has made to mitigate load-shedding. Speaking during a briefing at Parliament on Monday, DA leader Mmusi Maimane stressed that... 

 State capture at heart of Eskom’s load-shedding woes – Maimane
Photo by Creamer Media
DA leader Mmusi Maimane

Num denies reports it wanted to postpone wage talks with Eskom

By: African News Agency      18th June 2018 The National Union of Mineworkers (Num) on Monday slammed reports that it had called for the postponement of wage negotiations with power utility Eskom because of its congress this week.  "The Num congress is starting on Wednesday at the Birchwood Hotel and that will not affect the wage... 

 Num denies reports it wanted to postpone wage talks with Eskom

Eskom says low probability of day-time load-shedding

By: African News Agency      18th June 2018 State electricity company Eskom said on Monday there is a low probability of rotational load-shedding during the day as a result of power station units being returned to the system after last week's wage strike, but the probability was higher for the evening peak period due to increased demand.... 

Eskom says low probability of day-time load-shedding

Eskom says power system will take up to 10 days to recover from strike impact

By: News24Wire      18th June 2018 State electricity company Eskom said late on Sunday its power system remained constrained and would take up to ten days to recover from the effects of last week's wage strike. Eskom warned consumers to work on the assumption that rolling power interruptions, or loadshedding, implemented over the... 

 Eskom says power system will take up to 10 days to recover from strike impact

Numsa rejects Eskom arbitration process

By: African News Agency      15th June 2018 The National Union of Metalworkers of SA (Numsa) on Friday rejected Eskom's decision to engage in an arbitration process on the current wage dispute with workers unions, saying that such a decision was made without consulting them. Numsa, the National Union of Mineworkers (Num), and Solidarity... 

Numsa rejects Eskom arbitration process

'High risk' of load shedding over weekend

By: News24Wire      15th June 2018 South Africa on Friday experienced its second consecutive day of load shedding, with power outages likely to continue over the weekend.  Eskom spokesperson Khulu Phasiwe said that stage 1 load shedding started at 11:30 and would continue until 21:00 due to "multiple trips of its power generation... 

'High risk' of load shedding over weekend

Eskom obtains court interdict against workers pickets at power stations

By: African News Agency      15th June 2018 Eskom on Friday obtained a court interdict prohibiting the intimidation of workers and contractors who are not part of an ongoing wage strike, as well as the highjacking of coal trucks and the sabotaging of the power utility's electricity infrastructure.  On Thursday, generation and distribution... 

Eskom obtains court interdict against workers pickets at power stations

Aerospace facility aims to help country master new technologies

By: Rebecca Campbell     15th June 2018 In South Africa, the aerospace and defence industries have a responsibility to provide technological leadership for the rest of the economy. This is because they are leading sectors for the development, introduction and use of innovations and new technologies, argues Centurion Aerospace Village... 

Union wants answers as gaps left by SAX grounding are plugged

By: Rebecca Campbell     15th June 2018 South African Airways (SAA) has created an extended flight schedule to replace the capacity lost with the grounding of the SA Express airline by the South African Civil Aviation Authority (CAA). (This grounding was because of “severe cases of non-compliance that pose serious safety risks” found... 

Nersa grants Eskom R32.69bn in RCA application 

By: African News Agency      14th June 2018 The National Energy Regulator of South Africa (Nersa) on Thursday granted Eskom R32.69-billion following its regulatory clearing account (RCA) application for the multi-year price determination period from 2015 to 2017. The cash-strapped power utility had applied for a 19.9% tariff hike to recoup... 

Nersa grants Eskom R32.69bn in RCA application

Labour unions picket Eskom office in wage dispute

By: Reuters     14th June 2018 Hundreds of union members picketed outside the headquarters of Eskom on Thursday because of a wage dispute which has hurt the cash-strapped South African power utility's ability to deliver electricity to Africa's most industrialised economy. Labour unions, angered by Eskom's failure to raise... 

Labour unions picket Eskom office in wage dispute

PetroSA's GTL refinery could run out of natural gas in two years 

By: Reuters     12th June 2018 South Africa's flagship gas-to-liquids (GTL) refinery at Mossel Bay could run out of natural gas within two years when offshore reserves dry up, a senior energy official said on Tuesday. The Mossel Bay GTL plant, one of the world's largest, is operated by State-owned national oil and gas company... 

PetroSA's GTL refinery could run out of natural gas in two years

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