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Macro and Micro News

Amid load-shedding pain, more than 50% of Soweto residents are illegally connected to grid – Eskom

By: News24Wire      29th June 2022 As Soweto residents marched to the office of Johannesburg Mayor Mpho Phalatse last week to demand a more sustainable and consistent electricity supply, they did so against the backdrop of an area plagued by illegal connections and residents who can't or won't pay for power. Eskom says 50% of... 

Opinion: Existing regulatory framework provides good backbone for development of South Africa’s green hydrogen sector

29th June 2022 In this article, Bowmans South Africa’s head of public law and regulatory, Claire Tucker, looks at regulation and incentives for the hydrogen economy. She concludes that, while incentives for developing the sector have not yet been finalised, the existing regulatory framework for these industrial... 

Claire Tucker
Claire Tucker

South African food inflation rose sharply in May

By: Rebecca Campbell     29th June 2022 Food inflation in South Africa rose sharply in May, in both year-on-year (y-o-y) and month-on-month (m-o-m) terms, the Bureau for Food and Agricultural Policy (BFAP) has reported in its latest Food Inflation Brief. In y-o-y terms, food and non-alcoholic beverage prices last month were up 7.6%. In... 

South Africa imported record volumes of steel in 2021, new report shows 

By: Terence Creamer     29th June 2022 At close to 1.7-million tonnes, South Africa imported record volumes of primary steel in 2021, constituting about one-third of all steel used in the country, a new Steel Report published by the South African Iron and Steel Institute (SAISI) confirms. The report, which is the inaugural edition of... 

A steel coil being rolled

Consumer confidence plummets to record low

By: News24Wire      29th June 2022 South Africa’s consumer confidence plunged to its lowest level in over three decades in the second quarter of 2022, barring the sharp drop during the height of Covid-19. The economic ramifications of Russia’s war in Ukraine, soaring petrol prices, escalating inflation, high interest rates and the... 

Consumers

Eskom employees start returning to work amid speculation of a higher wage offer

By: News24Wire      29th June 2022 As reports and speculation about Eskom's new wage offer to unions were in full swing, the power utility confirmed that employees were returning to work at various stations and other operations on Wednesday morning. After a week of protest disruptions due to a wage negotiation deadlock, Minister... 

Stage 6 fiasco: Ratings downgrade may now be on the cards, economists warn 

By: News24Wire      29th June 2022 Stage 6 load shedding – the worst since 2019 – sparked by a wildcat strike at ailing power utility Eskom could stamp out the SA economy's recent tentative green shoots, analysts have warned. Amid spiralling unemployment, high inflation and rocketing fuel prices, there have been small pockets of... 

A photo of Eskom infrastructure

Nothing more important than growing the economy and creating jobs – Cape Town Mayor  

By: Sane Dhlamini     29th June 2022 Cape Town Mayor Geordin Hill-Lewis has acknowledged that creating employment and being a jobs-focused and entrepreneur-friendly administration are important measures needed to resuscitate the country’s ailing economy. In an exclusive interview with Polity, the Mayor said he was doing all he could... 

City of Cape Town Mayor Geordin Hill-Lewis
City of Cape Town Mayor Geordin Hill-Lewis discusses his plans and vision for the city. (Camera & editing: Darlene Creamer)

South Africa's FDI inflows increased to R27.2bn in the first quarter

By: Reuters     28th June 2022 South Africa recorded foreign direct investment (FDI) inflows of R27.2-billion in the first quarter of 2022, up from R22.7-billion rand in the fourth quarter of 2021, the central bank said on Tuesday. The South African Reserve Bank said in its Quarterly Bulletin that the increase was due to... 

Discovery to list on A2X

By: Creamer Media Reporter      27th June 2022 Financial services group Discovery has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from July 4. Discovery will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. “Since... 

Cabinet approves South Africa’s first draft game meat strategy for public comment

By: Creamer Media Reporter      27th June 2022 Cabinet has approved South Africa’s first draft Game Meat Strategy for public comment. South Africa, renowned internationally for its abundant wildlife, provides market opportunities that could derive from the harvesting of game meat and related value-added products. 

Numsa claims Eskom provoked the 'rage' that led to protests and more load-shedding

By: News24Wire      27th June 2022 The National Union of Metalworkers of South Africa laid the blame at Eskom's feet for the protests at power stations that ultimately plunged South Africa into Stage 4 load-shedding late last week. Speaking to Fin24 on Monday, Numsa spokesperson Phakamile Hlubi-Majola denied any involvement by the... 

National Union of Metalworkers of South Africa logo

Earth & Wire targets Eastern Cape for first long-duration storage roll-out 

By: Terence Creamer     27th June 2022 Independent renewable energy company Earth & Wire expects to begin installing its first long-duration energy storage system in South Africa in 2024 after announcing a 300 MW/1 200 MWh order for a battery system from Ambri, of the US. First deliveries are scheduled for the second quarter of 2024,... 

Artist impression of the Ambri storage system

Mutually respectful, beneficial foreign investments key – Bonakele

By: Donna Slater     24th June 2022 South Africa needs “very predictable, clear regulatory systems” as it seeks mutually respectful and mutually beneficial foreign investment, South African Competition Commission Commissioner Tembinkosi Bonakele said at the Southern Africa France Business Forum on June 22. Hosted by Business... 

Nelson Mandela Bay Day Zero: Supply from Churchill Dam to be reduced in effort to avoid crisis

By: News24Wire      24th June 2022 The Nelson Mandela Bay Municipality will be opening communal taps on Saturday in a bid to prevent one of its dams from running dry by Tuesday. The municipality said it would reduce consumption from Churchill Dam on Sunday, from 60 megalitres daily, to 25 megalitres. At the current consumption... 

Water Tap

Load-shedding to hit stage 4 all weekend after wage talks deadlock – Eskom

By: News24Wire      24th June 2022 Eskom will implement stage 4 load-shedding from 11am on Friday until midnight, and again on Saturday and Sunday from 5am until midnight, amid ongoing unprotected labour action, it said in a statement on Friday. "It is necessary to bolster emergency generation reserves to react to unforeseen... 

Electricity Pylons

SA-German-Swiss Transparency, Integrity and Accountability Programme launched

By: Schalk Burger     24th June 2022 The Department of Planning, Monitoring and Evaluation (DPME) and the German and Swiss Embassies have launched the South African – German – Swiss Cooperation on the Transparency, Integrity and Accountability Programme (TIP), which will take a multi-sectoral approach to the prevention of corruption... 

Tourism, travel industries welcome repeal of remaining Covid-19 restrictions

By: Schalk Burger     23rd June 2022 A range of tourism and travel organisations and businesses have welcomed the lifting of the last Covid-19 restrictions, including those that had been in place at ports of entry and those restricting the size of gatherings. Association Of Southern African Travel Agents CEO Otto de Vries said the... 

Southern Africa Tourism Services Association CEO David Frost
Southern Africa Tourism Services Association CEO David Frost

Legislation that conflicts with transformation must be revisited – Deputy Labour Minister

By: Thabi Madiba     23rd June 2022 Employment and Labour Deputy Minister Boitumelo Moloi said on Thursday that South Africans need to work hard to strengthen the country’s economy while transforming the labour system. Moloi was speaking during the launch of the Employment Equity Instruments, the New Code of Good Practice on the... 

Legislation that conflicts with transformation must be revisited – Deputy Labour Minister

Cabinet encourages more S Africans to vaccinate as it ends mask mandate 

By: Sane Dhlamini     23rd June 2022 Minister in the Presidency Mondli Gungubele said on Thursday that while Cabinet welcomed a significant drop in Covid-19 cases in the country, it is urging more South Africans to vaccinate against the virus, as South Africa joins the many countries that have done away with mask-wearing.  Joining... 

Health Minister Dr Joe Phaahla
Health Minister Dr Joe Phaahla

BLSA supports prosecution of State capture actors, commits to assisting NPA

By: Schalk Burger     23rd June 2022 Business organisation Business Leadership South Africa (BLSA) says it fully supports the recommendations of the Judicial Commission of Inquiry into Allegations of State Capture, chaired by Chief Justice Raymond Zondo, that criminal charges be filed against several people who played various roles... 

May trade conditions presenting a challenging environment – Sacci

By: Schalk Burger     23rd June 2022 The South African Chamber of Commerce and Industry’s (Sacci’s) May Trade Conditions Survey found that expectations for trade activity six months hence were mirroring the uncertainty in the global market, and the expectations index subsided into negative territory, having lost 12 index points... 

Floods, load-shedding contribute to lower second-quarter manufacturing confidence

By: Schalk Burger     23rd June 2022 Additional headwinds have caused a decrease in confidence levels across the manufacturing sector, which dropped by 14 points to 29 in the second quarter, according to the latest Absa Manufacturing survey. “Following a fairly upbeat set of results in the first quarter of 2022, during the second... 

Eskom says workers protest at some plants

By: Bloomberg     23rd June 2022 Tensions are rising at Eskom, with the struggling South African electricity supplier confirming protests at a number of power plants following a breakdown in wage negotiations. Groups at six coal-fired stations “have blocked roads leading to some of the power stations, which hampers the movement... 

Eskom logo

Zondo calls for new inquiry into how SA's passenger rail was left on brink of collapse  

By: News24Wire      23rd June 2022 The final report of the Judicial Commission of Inquiry into State Capture has recommended that a new probe be instituted to get to the bottom of why SA's state-run passenger rail agency was allowed to "slide into almost total ruin".  Despite dedicating 250 pages to wrongdoing and failures at the... 

Former Prasa CEO Lucky Montana
Photo by Creamer Media
Former Prasa CEO Lucky Montana

Innovation key for SEZs to support post-pandemic recovery

By: Tasneem Bulbulia     22nd June 2022 There is a role for SEZs to play in the country’s post-pandemic recovery, however, this will require changes to certain approaches, speakers indicated during a ‘Growing Industrial Development Zones and SEZs’ panel discussion, as part of day two of the Manufacturing Indaba on June 22. Coega... 

Africa making progress in building tax transparency, tackling illicit financial flows

By: Schalk Burger     22nd June 2022 Development finance institution the African Development Bank (AfDB) says African countries’ requests for information for tax collection purposes increased by 26% year-on-year in 2021, signalling continued progress toward tax transparency in spite of a challenging environment. The AfDB cited data... 

Inflation breaches upper limit of Reserve Bank target

By: News24Wire      22nd June 2022 Consumer inflation for May hit 6.5%, which breaches the upper limit of the Reserve Bank's target range of 4% to 6%. Stats SA on Wednesday released the latest inflation data. It shows that the uptick, from 5.9% recorded in April, was mainly driven by increases in food and non-alcoholic beverages,... 

Consumers

Final Just Energy Transition Partnership Investment Plan expected by November 

By: Terence Creamer     22nd June 2022 A Just Energy Transition Partnership Investment Plan (JETP-IP), which will seek to unlock $8.5-billion in concessional climate finance to accelerate South Africa’s transition from coal to renewables and support workers and communities currently reliant on the coal value chain, is expected to be... 

COP President Alok Sharma
COP President Alok Sharma

Stage 2 load-shedding times extended - Eskom

By: News24Wire      22nd June 2022 Eskom will implement Stage 2 load-shedding between 10:00 and midnight on Wednesday, and between 05:00 and midnight from Thursday to Sunday. The power utility said the load-shedding was due to the breakdown of four generation units on Wednesday morning, which contributed to the capacity... 

Powerlines

Operation Vulindlela making progress in driving priority structural reforms  

By: Marleny Arnoldi     21st June 2022 The Presidency’s Operation Vulindlela (OV) has made markable process on accelerating implementation of priority structural reforms since its establishment in October 2020. Presidency project management office head Rudi Dicks addressed delegates during the Manufacturing Indaba, held in Sandton on... 

Solar PV panels
Presidency private office director Saul Musker explains how far Operation Vulindlela has come with assisting structural reform

Joburg to award four smart city challenge winners, applauds quality of solutions

By: Schalk Burger     21st June 2022 The City of Johannesburg (CoJ) would be announcing four winners for its yearly Smart City Innovation Challenge instead of three owing to the quality of solutions received, said CoJ Smart City Office leader Lawrence Boya. Each of the four winners would receive R500 000 and an opportunity to pilot... 

Patel says ‘pragmatic solution’ to be found to localisation-linked renewables delays   

By: Terence Creamer     21st June 2022 Trade, Industry and Competition Minister Ebrahim Patel reports that government is working to find a “pragmatic solution” to the problem where local-content requirements contained in government’s electricity procurement programmes are delaying the construction of utility scale renewable-energy... 

Trade, Industry and Competition Minister Ebrahim Patel
Trade, Industry and Competition Minister Ebrahim Patel on localising renewables components in a pragmatic way. Camera Work: Shadwyn Dickinson. Editing: Nicholas Boyd. Recorded: 21.06.2022

‘Jackpot’ oil discoveries may help Namibia double GDP by 2040

By: Bloomberg     21st June 2022 Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp of Namibia, said in a Bloomberg TV interview. TotalEnergies in February said it had made a “significant” oil discovery off the coast of... 

Eleven-point action plan agreed to address recruitment of foreign truck drivers

By: Donna Slater     20th June 2022 The Road and Freight Inter-Ministerial Committee (IMC), in partnership with the road and freight industry stakeholders, have agreed on an eleven-point action plan to deal with industry challenges and the recruitment of foreign nationals. The Road and Freight IMC met with industry players that... 

Finance ‘sea change’ needed for Africa to meet $190bn/y energy investment goal 

By: Terence Creamer     20th June 2022 Achieving Africa’s energy and climate goals by 2030, including universal access, will require a more than doubling in energy investment this decade, rising to a yearly rate of $190-billion from 2026 to 2030, a new International Energy Agency (IEA) report shows. It will also require the connection... 

Executive director Dr Fatih Birol
Executive director Dr Fatih Birol

Eskom warns of high load-shedding risk as grid likely strained for 'next few weeks'

By: News24Wire      20th June 2022 The power system is under severe pressure and there is a risk of load-shedding at short notice if there are any significant breakdowns at Eskom plants, the power utility warned on Monday morning.  The power system will be under strain for the next few weeks, it added in a statement.  

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