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State Companies News

MPs to summon ministers on R13.8bn owed to Eskom by municipalities

By: African News Agency      16th May 2018 Members of Parliament (MPs) on Wednesday resolved to summon the inter-ministerial task team looking into municipalities which owe State-owned power utility Eskom close to R14-billion in debt to Parliament. At a meeting of Parliament's standing committee on public accounts (Scopa), Eskom board... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target

By: Terence Creamer     16th May 2018 Energy Minister Jeff Radebe says one-quarter, or $25-billion, of South Africa's newly announced five-year investment target of $100-billion could be met through investments in new energy projects, including a possible new greenfield crude oil refinery and a gas pipeline linking South Africa to... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target
Photo by Dylan Slater
Energy Minister Jeff Radebe

Mohammed Mahomedy appointed interim CFO at Transnet

By: Creamer Media Reporter      16th May 2018 Mohammed Mahomedy has been appointed as Transnet’s interim CFO, effective May 15. He is a chartered accountant and, over his 12 years of service at Transnet, has led key strategic portfolios within finance. Before being appointed interim CFO, he was GM Finance at Transnet Group Capital. He also... 

SAA briefing to Parliament cancelled after political parties clash

By: African News Agency      16th May 2018 A briefing by South African Airways (SAA) to Parliament's finance committee was called off on Wednesday after MPs from the ruling African National Congress (ANC) and the Democratic Alliance (DA) clashed on whether the meeting should be closed to the public. Acting finance committee chairperson... 

 SAA briefing to Parliament cancelled after political parties clash

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs

16th May 2018 The full text of Public Enterprises Minister Pravin Gordhan’s Budget Vote speech to Parliament on May 15. In it, the Minister warns that it has become evident that several State-owned companies (SOCs) will not be able to trade and borrow their way out of their financial difficulties and that some... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs
Public Enterprises Minister Pravin Gordhan

Government ready to do business with the private property sector – Nxesi

By: Simone Liedtke     15th May 2018 The government is ready to do business with the private property sector to bring certainty to the market, says Public Works Minister Thulas Nxesi. Delivering his Budget Vote in Parliament, on Tuesday, the Minister said market certainty would be based on market-related pricing, improved value and... 

Union welcomes departure of Denel Group CEO

By: Rebecca Campbell     15th May 2018 The Solidarity trade union on Tuesday welcomed the resignation of Denel Group CEO Zwelakhe Ntshepe that same day. It also expressed its support for recently appointed board chairperson (Ms) Monhla Hlahla, complimenting her for the changes she has already made at the State-owned defence industrial... 

Union welcomes departure of Denel Group CEO
Photo by Duane Daws/Creamer Media
Zwelakhe Ntshepe

Denel Group CEO resigns

By: Rebecca Campbell     15th May 2018 State-owned defence industrial group Denel announced on Tuesday that its Group CEO, Zwelakhe Ntshepe, had resigned. The resignation was also with effect from Tuesday. He had been appointed Group CEO only six months ago, following two years in which he had been acting in that capacity. Ntshepe... 

Denel Group CEO resigns
Photo by Duane Daws/Creamer Media
Michael Kgobe

Popo Molefe to lead new interim board at Transnet

By: Simone Liedtke     15th May 2018 Public Enterprises Minister Pravin Gordhan has appointed a new interim board for State-owned Transnet, pending a full appointment, in consultation with Cabinet. The interim board will be led by Popo Molefe as chairperson and includes directors Louis Zeuner, Ramasela Ganda, Ursula Fikelepi, Edward... 

Eskom wants 3% on top of any tariff hike for three years to claw back R66bn-plus 

By: Terence Creamer     14th May 2018 State-owned electricity utility Eskom has proposed a five-year phasing-in period to recoup R66-billion-plus in cost and revenue variances contained in three separate Regulatory Clearing Account (RCA) applications. The applications are being adjudicated simultaneously by the National Energy... 

Eskom wants 3% on top of any tariff hike for three years to claw back R66bn-plus
Photo by Dylan Slater
Eskom acting CFO Calib Cassim

Durban port truck booking system could become compulsory by April 2019

By: Shirley le Guern     11th May 2018 The Durban port may have a compulsory truck booking system in place by April 2019, Transnet Port Terminals (TPT) CE Nozipho Sithole tells Engineering News Online. In an interview on the sidelines of the Transport Forum Special Interest Group, in Durban, this week, she was adamant that TPT had... 

Large power users urge Nersa to hold Eskom accountable for inefficiencies 

By: Terence Creamer     11th May 2018 The Energy Intensive Users Group of Southern Africa (EIUG) has argued that any cost-recovery granted to Eskom in relation to three Regulatory Clearing Account (RCA) applications currently under review by the regulator be capped at R40.5-billion. However, it also urged the National Energy... 

Large power users urge Nersa to hold Eskom accountable for inefficiencies
Photo by Dylan Slater
The Eskom team presenting at the Nersa hearings in Soweto on Friday

Transnet, Tshipi é Ntle sign long-term manganese contract

By: Simone Liedtke     11th May 2018 State-owned Transnet has signed the second long-term agreement under its Manganese Export Capacity Allocation (Meca) programme, which seeks to integrate a number of export manganese contracts. The seven-and-a-half-year contract with manganese miner Tshipi é Ntle will result in 2.1-million tonnes... 

Solidarity union to continue with SAA business rescue plan despite latest bailout 

By: Rebecca Campbell     11th May 2018 The Solidarity trade union will continue with its court application to place State-owned flag carrier South African Airways (SAA) under business rescue, despite another government bailout for the airline, the union announced on Friday. This follows a statement on Thursday by SAA CEO Vuyani Jarana... 

Solidarity union to continue with SAA business rescue plan despite latest bailout
Photo by SAA
An Airbus A340-600 wide-body airliner

SAA to get R5bn capital injection after plea for cash – CEO

By: Reuters     11th May 2018 South Africa has promised another R5-billion ($400-million) capital injection to help its struggling state airline meet urgent financial obligations, the CEO of South African Airways (SAA) said on Thursday. SAA has not generated a profit since 2011 and has already received State guarantees... 

Ministers from SA and India stress bilateral opportunities at business summit

By: Rebecca Campbell     11th May 2018 India has progressed from having almost no trade with South Africa in 1994 to today being the country's sixth to eight largest trading partner, South African Trade and Industry Minister Dr Rob Davies has highlighted. He was addressing the recent India-South African Business Summit in Sandton,... 

More banks needed in SA, including State-owned bank – Ramaphosa 

By: African News Agency      8th May 2018 President Cyril Ramaphosa on Tuesday expressed support for a legislative amendment to create a State-owned bank and breaking the monopoly of the big four commercial banks in South Africa.  "We need to move away from the monopoly of just four banks in our country and create more banks so there is... 

 More banks needed in SA, including State-owned bank – Ramaphosa
President Cyril Ramaphosa

Union urges Parliament to debate SAA

By: Rebecca Campbell     8th May 2018 Trade union Solidarity on Tuesday petitioned Parliament to hold a debate in the House of Assembly on the State-owned flag-carrier airline, South African Airways (SAA). The union also urged the Government to support Solidarity’s application to place the airline under business rescue and to stop... 

Union urges Parliament to debate SAA

SAA requires R5bn bailout to stay afloat – treasury official 

By: Reuters     8th May 2018 State carrier SAA requires a R5-billion cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday. National Treasury director-general Dondo Mogajane told parliament the cash injection could however not come from government,... 

SAA requires R5bn bailout to stay afloat – treasury official

Direct Durban-London air link to be launched by UK carrier

By: Rebecca Campbell     8th May 2018 The Dube TradePort Special Economic Zone announced on Tuesday that the UK’s flag carrier airline, British Airways (BA), is to introduce a direct route between London’s Heathrow Airport and Durban’s King Shaka International Airport. The new service will commence on October 29. (King Shaka is... 

Direct Durban-London air link to be launched by UK carrier
Photo by Dube TradePort
An aerial view of King Shaka International Airport

South Africa urged to consider CSP-PV blend to lower cost of dispatchable solar generation 

By: Terence Creamer     7th May 2018 International technology and infrastructure group Abengoa, which has developed a portfolio of three concentrated solar power (CSP) projects in South Africa, believes blending CSP with solar photovoltaic (PV) technology is the logical next step for lowering CSP costs, while also producing... 

South Africa urged to consider CSP-PV blend to lower cost of dispatchable solar generation
The 100 MW XiNa Solar One parabolic-trough CSP power station in the Northern Cape

Black-owned energy group disputes notion that renewables programme is anti-transformation

By: Terence Creamer     4th May 2018 Black-owned and managed independent power producer (IPP) Pele Green Energy (PGE), which is an active owner and partner in wind and solar projects with a combined capacity of 900 MW, does not agree with prevailing arguments that South Africa’s IPP programmes are failing to deliver on South... 

Black-owned energy group disputes notion that renewables programme is anti-transformation
Pele Green Energy MD Gqi Raoleka

Transnet chair resigns on eve of meeting with government 

By: African News Agency      4th May 2018 The chairperson of Transnet, Linda Mabaso, has resigned with immediate effect, Public Enterprises Minister Pravin Gordhan said on Thursday. Mabaso's resignation comes on the eve of a shareholder meeting called by Gordhan for Friday.  

Exclusive CEO Forum to discuss utilities transformation at AUW

By: Melissa Zisengwe     4th May 2018 CEOs from Africa will meet at the Pan-African Utility CEO Forum to discuss pertinent issues affecting the power, energy and water sectors. The Forum at African Utility Week (AUW), taking place from 15 to 17 May, is the largest of the five forums and is the meeting place for CEOs from across the... 

Exclusive CEO Forum to discuss utilities transformation at AUW
UTILITY CEOs About 40 CEOs from the continent are expected to attend the forum

Coal ‘not like buying bread’, Hadebe says as Eskom reverses policy on cost-plus mines  

By: Terence Creamer     3rd May 2018 In a major policy reversal, State-owned electricity producer Eskom is budgeting to invest in the sustenance of mines that supply coal to the utility on a cost-plus basis. During Brian Molefe’s controversial tenure as Eskom CEO, the utility became hostile to the cost-plus model, which Molefe... 

Coal ‘not like buying bread’, Hadebe says as Eskom reverses policy on cost-plus mines
Eskom acting CEO Phakamani Hadebe on what he told investors on a recent roadshow and why load-shedding is unlikely this winter. Camera Work & Editing: Darlene Creamer. Recorded: 3.5.2018

Gordhan gets tough on 'largely captured' State entities

By: News24Wire      2nd May 2018 Minister of Public Enterprises Pravin Gordhan told Parliament on Wednesday that his department would hold parastatals on a much shorter leash as they recover from what he called “the phenomenon of State capture”. Among others, he said, captains of South Africa’s State-owned enterprises would have... 

 Gordhan gets tough on 'largely captured' State entities
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

Kubayi-Ngubane to unveil Mandela Mining Precinct

By: Nadine James     30th April 2018 Science and Technology Minster Mmamoloko Kubayi-Ngubane will deliver the keynote address at the launch of the Mandela Mining Precinct, a Mining Phakisa initiative aimed at reviving South Africa’s flagging mining sector, on May 4. The Mandela Mining Precinct is aimed at supporting local... 

Kubayi-Ngubane to unveil Mandela Mining Precinct
MMAMOLOKO KUBAYI-NGUBANE The minister will be joined by the Ministers of Mineral Resources, Trade and Industry and Planning, Monitoring and Evaluation

Unions at odds over SAA business rescue

By: Rebecca Campbell     27th April 2018 Trade union Solidarity believes that business rescue is the only way that jobs can be saved at embattled State-owned national flag-carrier South African Airways (SAA) and the company put back on a sustainable footing. This was made clear at the media briefing at the union's head office on... 

New association aims to raise level of debate on energy economics in South Africa

By: Terence Creamer     26th April 2018 A new independent professional organisation was launched in Pretoria on Thursday with the aim of raising the level of research and debate on energy economics in South Africa, where policy and regulatory uncertainty remain a major constraint to investment. Named the South African Association for... 

New association aims to raise level of debate on energy economics in South Africa
Photo by Dylan Slater
SAAEE president Professor Roula Inglesi-Lotz

Global wind body sees South African market returning to ‘full health’ in 2018

By: Terence Creamer     25th April 2018 The Global Wind Energy Council (GWEC) expects the South African wind market to return to “full health” in the coming year, following more than two years of uncertainty. The council’s latest Global Wind Report, which deals with market developments for 2017, notes that the South African renewable... 

Global wind body sees South African market returning to ‘full health’ in 2018

South African Airways says it needs capital injection 'now' 

By: Reuters     24th April 2018 South African Airways (SAA) needs a new capital injection "now" to stay afloat and is in discussions with banks and the National Treasury for "an open credit line", its chief executive said on Tuesday. State-owned SAA, which has not generated a profit since 2011, is regularly cited by ratings... 

South African Airways says it needs capital injection 'now'

Agreement opens way for R1.8bn oil services hub at Saldanha port

By: Terence Creamer     23rd April 2018 A private port terminal operator has been selected to build and operate South Africa’s first offshore supply base (OSSB) at the Port of Saldanha, in the Western Cape. The facility, which will involve investments of R1.8-billion over the coming five years, will provide services to offshore oil and... 

Agreement opens way for R1.8bn oil services hub at Saldanha port
Port of Saldanha

South African air traffic controller elected VP of global ATC representative body

By: Rebecca Campbell     23rd April 2018 Air Traffic and Navigation Services, the State-owned company that is responsible for South Africa’s air traffic management, announced on Sunday that its Area Radar Controller at OR Tambo International Airport (Johannesburg), Peter van Rooyen, had been elected Executive VP of the International... 

Sars introduces electronic reporting requirements for customs clients

By: African News Agency      20th April 2018 The South African Revenue Service (Sars) said on Friday it would at the weekend introduce a new electronic cargo reporting system to track the movement of cargo into and out of the country. Sars said the paperless system would bring an end to one of its last remaining paper-based processes and... 

Sars introduces electronic reporting requirements for customs clients

New Denel board faces tough turnaround task as financial pressure mounts

By: Rebecca Campbell     20th April 2018 Public Enterprises Minister Pravin Gordhan recently announced the completely new, high-powered, Board to turn-around beleaguered State-owned defence industrial group Denel. Technically, it is currently an interim Board, he explained, because it had not yet been approved by the Cabinet. He... 

Salga voices concern about impact of possible higher electricity tariffs on municipalities

By: Marleny Arnoldi     19th April 2018 During public hearings being held to enable the National Energy Regulator of South Africa (Nersa) to determine whether to allow power utility Eskom to recoup R66.6-billion under the Regulatory Clearing Account (RCA) mechanism, the South African Local Government Association (Salga) has expressed... 

Rand recovery double-edged sword, land must be shared – Ramaphosa 

By: Reuters     18th April 2018 President Cyril Ramaphosa said on Wednesday the rebound in the country's currency, the rand, had both positive and negative effects but wasn't quite complete. "It is a double-edged sword," Ramaphosa said in a interview with Bloomberg television. "It reflects the level of confidence that the world... 

Rand recovery double-edged sword, land must be shared – Ramaphosa
President Cyril Ramaphosa

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