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Stock surge hints at sentiment turn after election
18th June 2024 By: Bloomberg

South Africa’s stock benchmark rallied the most this year, suggesting investors are turning positive on the nation’s equities after the longest daily streak of outflows in three years. The rand and... 


Biotech startup closes latest funding round, bringing total to R24.5m
18th June 2024 By: Schalk Burger

Stellenbosch-based biotechnology start-up Immobazyme has successfully closed its latest funding round, bringing its total investment to R24.5-million. The new injection of capital will enable the... 


Flashback to the listing of Southern Palladium on the Johannesburg Stock Exchange two years ago.
Southern Palladium remains committed to advancing Bengwenyama project
18th June 2024 By: Martin Creamer

The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is... 


Image of Telkom signage on building
Telkom achieves stronger 2024 financial results
18th June 2024 By: Natasha Odendaal

JSE-listed Telkom on Tuesday posted an improvement in its financial results for the year ended March 31, 2024, supported by its next-generation offerings and cost-optimisation efforts. The group... 


Botswana may fall short of 4.2% growth target
18th June 2024 By: Reuters

Botswana's economy may fall short of the government's 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints. Finance minister... 


Malaysia is planning to join BRICS, PM says
Malaysia is planning to join BRICS, PM says
18th June 2024 By: Bloomberg

Malaysian Prime Minister Anwar Ibrahim said that the Southeast Asian nation will join the BRICS economic bloc, becoming the latest country to take part in an expanding group seen challenging the... 


Reserve Bank to first cut repo rate in November - Reuters poll
Reserve Bank to first cut repo rate in November - Reuters poll
18th June 2024 By: Reuters

South Africa's Reserve Bank is seen waiting until November before it cuts its repo rate as economists continue to roll back their expectations when policy easing kicks off in response to slowing... 


Rolls-Royce unveils hybrid electric powerpack for armoured vehicles
18th June 2024 By: Rebecca Campbell

UK-based global major power and propulsion systems group Rolls-Royce has announced that its Germany-based Power Systems division had launched a hybrid diesel and battery-electric powerpack concept... 


stor-age facility
Stor-Age reports strong financial performance
18th June 2024 By: Darren Parker

JSE-listed self-storage real estate investment trust Stor-Age has reported robust financial results for the 2024 financial year ended March 31, showcasing significant growth in rental rates and... 


TNPA's head office at the Port of Ngqura
TNPA moves to integrate desalination, renewables at Port Elizabeth and Ngqura ports
18th June 2024 By: Terence Creamer

South Africa’s Transnet National Ports Authority (TNPA) has issued requests for proposal (RFPs) for the construction of two solar-powered seawater desalination plants and a hybrid... 


Thungela Resources active in Mpumalanga.
Thungela poised to spend R3.9bn capital in South Africa
18th June 2024 By: Martin Creamer

Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex)... 


Image of Southern African Association of Freight Forwarders (SAAFF) CEO Dr Juanita Maree
Yes, there are problems at SA ports, but World Bank report not entirely accurate – SAAFF
18th June 2024 By: Irma Venter

The newest World Bank Container Port Performance Index (CPPI) report, which places a number of South African ports at the bottom of the list, covers the crisis-ridden 2023 period, and does not take... 


New government partners poised for Cabinet battle
18th June 2024 By: Bloomberg

South African political parties that last week agreed to form a governing alliance are limbering up for a tussle over cabinet positions, as President Cyril Ramaphosa prepares to be sworn in for a... 


Paul Mashatile and Cyril Ramaphosa at the first sitting of the seventh democratic Parliament on June 14 where Ramaphosa was re-elected President by the National Assembly
S&P does not foresee any significant policy shift under GNU
18th June 2024 By: Creamer Media Reporter

S&P Global Ratings does not expect any significant policy shift as a result of South Africa's government of national unity (GNU) formed following the May 29 elections when the African National... 


V&A executive manager: operations André Theys
V&A Waterfront signs deal to raise green-electricity contribution to 70% by 2026
18th June 2024 By: Terence Creamer

Cape Town’s V&A Waterfront has signed a ten-year power purchase agreement (PPA) with Etana Energy for 43 GWh of renewable energy yearly, which will result in wind and solar supplying 70% of the... 


Parliament must play central role in GNU – business
Parliament must play central role in GNU – business
18th June 2024 By: Thabi Shomolekae

Business Leadership South Africa (BLSA) noted on Tuesday that in addition to ensuring accountability and being effective in the law-making process, Parliament must be careful not to frustrate... 


Eskom targets JETP funds and partnerships for 2 GW clean-energy pipeline
Eskom targets JETP funds and partnerships for 2 GW clean-energy pipeline
14th June 2024 By: Terence Creamer

Having recently confirmed a decoupling of its just energy transition strategy from the decommissioning of its coal-fired power stations, Eskom is aiming to finalise business cases for a pipeline of... 


Industry body calls for new govt to re-set the country’s maritime agenda
14th June 2024 By: Rebecca Campbell

South African non-profit advocacy company, the Maritime Business Chamber (MBC), has called on the incoming seventh administration of democratic South Africa to re-set the country’s maritime agenda.... 


Gemdax co-founder and partner Anish Aggarwal.
Probably more diamond industry uncertainty now than at any other point – Gemdax
14th June 2024 By: Martin Creamer

While the diamond sector probably has more uncertainty now than at any other point, participants also probably have a bigger opportunity than ever to shape what the future will look like. “One... 


Eskom CEO Dan Marokane
NTCSA on track to begin trading on July 1, Marokane says
14th June 2024 By: Terence Creamer

Eskom CEO Dan Marokane has confirmed that the National Transmission Company South Africa (NTCSA) is on track to begin trading on July 1 and that the new entity was being set up to operate as a... 


HRMP Logistics CEO Musa Makunga
HRMP unveils R17.5m warehouse expansion at Dube TradePort
14th June 2024 By: Sabrina Jardim

Logistics company HRMP has inaugurated a R17.5-million warehouse expansion at Dube TradePort (DTP) TradeZone 2, in KwaZulu-Natal. For the past six years HRMP, which specialises in the transport of... 


Cyril Ramaphosa
Unity government parties back rapid economic growth
14th June 2024 By: Bloomberg

South Africa’s African National Congress and the Democratic Alliance committed to “rapid, inclusive and sustainable” economic growth in an agreement on forming a so-called government of national... 


Transnet to boost rail for VW, other automakers
Transnet to boost rail for VW, other automakers
14th June 2024 By: Bloomberg

Transnet said it’s in talks to run additional trains between a port in Gqeberha in the Eastern Cape province and the country’s commercial hub of Gauteng to better link the two automotive... 


South Africa unity government to include ANC and pro-business DA
South Africa unity government to include ANC and pro-business DA
14th June 2024 By: Reuters

The African National Congress and its largest rival, the pro-business Democratic Alliance, have agreed to work together in a government of national unity, senior DA negotiator Helen Zille told... 


Image of the smart lane MyCiTi system in Cape Town
Cape Town introduces reversible MyCiTi bus lane to reduce congestion
14th June 2024 By: Irma Venter

The City of Cape Town’s Transport Network Technology branch is set to activate a reversible MyCiTi bus lane along the R27 between Loxton road and Broad road in Milnerton. This bus lane, for... 


G7 leaders commit to faster transition from fossil fuels - draft statement
G7 leaders commit to faster transition from fossil fuels - draft statement
14th June 2024 By: Reuters

Leaders of the Group of Seven (G7) developed democracies will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at... 


Paul Mashatile & Cyril Ramaphosa
South African parties agree to reelect Ramaphosa as President
14th June 2024 By: Bloomberg

South African political parties that support a broad alliance to form the next government agreed to back the reelection of Cyril Ramaphosa as president. “We have agreed to cooperate on the... 


Global rate of air passenger baggage being mishandled continues to drop
14th June 2024 By: Rebecca Campbell

SITA, the global aviation industry’s specialist IT and technology solutions group, has reported that the rate of baggage mishandling by the world’s airlines declined again, last year. This was... 


An image showing a candi solar project in South Africa
candi solar secures $38m funding for clean energy expansion in South Africa, India
14th June 2024 By: Tasneem Bulbulia

Clean energy company candi solar has successfully closed its Series C funding round, securing $38-million in equity investment. The round was led by Norfund, Kyuden International, and STOA Infra... 


South Africa Parliament convenes as talks on who will govern go down to the wire
South Africa Parliament convenes as talks on who will govern go down to the wire
14th June 2024 By: Reuters

South Africa's newly elected parliament convenes on Friday to choose the country's next president with the public still in the dark about which parties will join the African National Congress (ANC)... 


An image showing an infographic from the Global Carbon Project regarding nitrous oxide
Nitrous oxide emissions grew by 40% from 1980 to 2020, study finds
14th June 2024 By: Tasneem Bulbulia

Emissions of nitrous oxide – a greenhouse gas (GHG) said to be more potent than CO2 or methane – continued unabated between 1980 and 2020, a year when more than ten-million metric tons were... 


UN Antonio Guterres says climate finance is not a favour.
Climate dealmakers brace for China showdown over money at COP29
14th June 2024 By: Bloomberg

With just five months to go before the COP29 climate summit, the biggest fights are set to be over how to channel trillions of dollars from developed nations to emerging markets — and how China... 


Plans for piloting independent transmission projects model
Plans for piloting independent transmission projects model
14th June 2024

Amid all the political upheaval, work is continuing with plans to pilot a model for introducing independent transmission projects. Engineering News editor Terence Creamer discusses the prospects.   


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