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SAA welcomes government’s support

By: Marleny Arnoldi     12th November 2018 South African Airways (SAA) has assured its stakeholders, customers and suppliers of its business continuity after government confirmed that the airline will not be shut down or sold. Public Enterprises Minister Pravin Gordhan last week clarified government’s position that, while the airline... 

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,... 

Denel reports R1.7bn operating loss for 2017/18, turnaround progressing 

By: Marleny Arnoldi     31st October 2018 State-owned defence industrial group Denel on Wednesday, with the release of its yearly results, stated that its operating loss of R1.7-billion for the 2017/18 financial year clearly shows a business that has had a difficult year, marked by lapses in governance, mismanagement and poor contract... 

Eskom won't need more government cash over next year – Minister 

By: Reuters     8th October 2018 State-owned power firm Eskom does not require government cash injections over the next 12 months, the country's Public Enterprises Minister Pravin Gordhan said on Monday. Cash-strapped Eskom is critical to Africa's most industrialised economy as it supplies more than 90 percent of its power but... 

President's office says 'not aware' of Nene request to be sacked

By: Reuters     8th October 2018 President Cyril Ramaphosa's spokesperson said on Monday his office was not aware of Finance Minister Nhlanhla Nene's request to be relieved of his duties after he admitted to visiting the Gupta brothers. The rand fell more than one percent when Business Day newspaper reported Nene had asked... 

Transnet head Gama given notice of termination, board confirms

By: News24Wire      28th September 2018 The Transnet Board has confirmed Transnet group chief executive Siyabonga Gama was given notice of termination, with ten days to justify why he should not be axed. In a statement, the Board said it had on Thursday served Gama with a letter explaining its decision, citing "serious violations" of... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Pretoria high court dismisses Transnet director's challenge to dismissal

By: African News Agency      19th September 2018 The Pretoria High court on Tuesday dismissed former Transnet director Seth Radebe's challenge to have his removal by Public Enterprises Minister Pravin Gordhan set aside. Gordhan said in a statement he welcomed the ruling, adding that Rabebe's approach to the court had been "vexacious". 

Eskom delays finalisation of new strategy to mid-November  

By: Terence Creamer     18th September 2018 South Africa’s electricity utility Eskom has delayed the publication of a new strategy blueprint to mid-November from an initial deadline of the end September to allow for greater consultation with external stakeholders. Following the appointment of a new board in February, a strategy review was... 

Forensic identification results into CTown munitions explosion almost ready

By: African News Agency      13th September 2018 The results of a forensic identification into the deadly explosion at the Rheinmetall Denel Munition (RDM) munitions factory in Cape Town nine days ago will be released later this week. The management of RDM hosted a lunch on Wednesday for the families affected by the explosion which claimed the... 

Gordhan: Fuel prices will rock SOEs 

By: News24Wire      3rd September 2018 Public Enterprises Minister Pravin Gordhan has told Parliament that most of the companies in his portfolio will be rocked by the latest fuel price hikes, with exposure to these hikes racking up millions in extra costs.  In a reply sent to Members of Parliament last week, Gordhan said an increase... 

Power Shifts

By: Terence Creamer     31st August 2018 Electricity nerds such as myself are bracing themselves for a breathless few months, with significant developments on the horizon. Much of the focus will be on the updated Integrated Resource Plan (IRP), which has finally been released for public comment. This is a critical document and it is... 

Ring-fence Eskom’s ‘bad bank’ generation assets, says energy expert   

By: Terence Creamer     29th August 2018 A leading electricity expert is warning that there is little or no prospect that Eskom can trade itself out of its current financial difficulties and that restructuring – including a vertical separation of its cash-guzzling generation assets from its transmission, system operator and distribution... 

Denel is getting itself back on an even keel, but needs further government guarantees

By: Rebecca Campbell     29th August 2018 State-owned defence industrial group Denel’s acting Group CEO Michael Kgobe assured the Parliamentary Portfolio Committee on Public Enterprises on Wednesday that the new Denel Board was carrying out comprehensive actions against corruption and dubious transactions, as well as to reinforce... 

Eskom needs to be 'rightsized' – Mabuza

By: Kim Cloete     28th August 2018 Eskom chairperson Jabu Mabuza says the utility is up to 33% overstaffed at all levels and may need to be "rightsized" in time. “We don't know whether we will downsize but we are determined to rightsize. We will do that within the confines of the Labour Relations Act. We can’t tell people here how... 

Eskom to sue Trillian; warns some dismissed Eskom employees still have their tentacles in the utility

By: Kim Cloete     28th August 2018 Eskom CEO Phakamani Hadebe says Eskom will continue to tighten the screws on implicated former and current employees and suppliers who have drained the utility of its resources and plunged it into debt. He told Parliament on Tuesday that Eskom would also sue Gupta-linked Trillian later this year... 

Coal suppliers urged to put South Africa first 

By: Kim Cloete     28th August 2018 Public Enterprises Minister Pravin Gordhan has suggested that Parliament call in some of the big and small coal suppliers to account for their export of coal, amid increasing concerns about the shortage of coal in the country. Gordhan was speaking after several Members of Parliament suggested... 

Eskom begins stakeholder interactions on ‘Strategy 2035’  

By: Terence Creamer     23rd August 2018 South Africa’s electricity utility Eskom has initiated a series of interactions with stakeholders as part of a review process designed to deliver a new long-term strategy, dubbed ‘Strategy 2035’, for the beleaguered organisation. The new leadership at the State-owned company, together with Public... 

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... 

Set up special tribunal for officials abusing tender system – State capture inquiry witness 

By: News24Wire      21st August 2018 The government's procurement system is intentionally not followed in at least 50% of all tenders, chief procurement officer Willie Mathebula told the commission of inquiry into allegations of State capture on Tuesday. Mathebula has proposed a special tribunal to deal with those who transgress and... 

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... 

Gordhan, Naidoo and Duvenage to speak on efforts to end the scourge of corruption

By: Creamer Media Reporter      20th August 2018 Public Enterprises Minister Pravin Gordhan, Organisation Undoing Tax Abuse Executive Director Wayne Duvenage and Council for the Advancement of the South African Constitution Executive Secretary Lawson Naidoo will meet to hammer out solutions to deal with corruption in South Africa’s public and... 

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... 

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... 

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... 

Eskom prices oversubscribed $1.5bn notes offering

By: Marleny Arnoldi     13th August 2018 State-owned power utility Eskom has successfully priced a two-tranche ten-year $1.5-billion global bond, under its $4-billion global medium-term note programme, following a series of investor meetings held by the utility, the Department of Public Enterprises, and Europe and US National... 

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... 

Has anything changed?

By: Terence Creamer     3rd August 2018 It would arguably be easier for a novice cyclist to take on Tour de France’s fabled Alpe d'Huez ascent than for the new leadership at Eskom to restore credibility. Besides load-shedding and extreme tariff hikes, the State-owned utility’s reputation has been all but decimated by allegations... 

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... 

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... 

SA Express on route to full re-certification by Civil Aviation Authority

By: Rebecca Campbell     12th July 2018 State-owned regional airline SA Express announced on Thursday that its certification as an aircraft maintenance organisation (AMO) had been reinstated by the South African Civil Aviation Authority (Sacaa) on June 22. “Since then SA Express has undergone a stringent and rigorous process to meet... 

Eskom wage talks: Unions want meeting with Nene, Gordhan

By: News24Wire      11th July 2018 Having reached a “sensitive stage” in the wage negotiation process, unions representing Eskom workers have asked to meet with Finance Minister Nhlanhla Nene and Public Enterprises Minister Pravin Gordhan to resolve the matter. This is according to a statement issued by the National Union of... 

Starting Eskom wage talks at 0% may have been 'tactically wrong' - Jabu Mabuza 

By: African News Agency      25th June 2018 Eskom Chairperson Jabu Mabuza on Monday said it may have been “tactically wrong” to start wage negotiations with unions representing employees at the power utility at zero per cent. “When you deal with the issues of wages, I think we could have handled this issue better as Eskom. It was perhaps... 

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... 

Good corporate citizenship in a post-State-capture South Africa 

By: Kim Cloete     8th June 2018 A string of corporate governance failures and climate change challenges have cranked up the pressure on companies to become better corporate citizens and take care of the environment they are operating in. The renewed emphasis on governance and sustainability is not limited to the private sector,... 

Good corporate citizenship in a post-State-capture South Africa 

By: Kim Cloete     8th June 2018 A string of corporate governance failures and climate change challenges have cranked up the pressure on companies to become better corporate citizens and take care of the environment they are operating in. The renewed emphasis on governance and sustainability is not limited to the private sector,... 

Reinstatement of Eskom system reports seen as way to rebuild trust through transparency

By: Terence Creamer     7th June 2018 State-owned electricity producer Eskom has re-launched its weekly system status report as part of broader efforts to rebuild trust with South African citizens, who remain skeptical about the utility’s ability to keep the lights on. The service, which is now available on Eskom’s website, was... 

DPE probes Gupta-linked Alexkor for environmental law compliance

By: News24Wire      5th June 2018 The Department of Public Enterprises is investigating whether state-owned mining company Alexkor, which had links with the infamous Gupta family, complies with environmental legislation. This has emerged in Minister of Public Enterprises Pravin Gordhan's answer to a parliamentary question by DA... 

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