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First phase of 1 GW SunCentral solar farm breaks ground
Published: 27 Jun 24
Independent power producer SolarAfrica Energy has officially broken ground on its first utility-scale solar farm in the Northern Cape. Known as SunCentral, Phase 1 of this project will total about 342 MW in generation capacity, with Phases 2 and 3 to raise the capacity to 1 GW, making it one of the largest projects of its kind in the country.
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South Africa's FDI inflows pick up in first quarter - central bank
Published: 27 Jun 24
South Africa recorded foreign direct investment inflows of R24.4-billion in the first quarter of 2024, up from a revised R2.5-billion in the previous quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were largely due to the acquisition of a local vehicle-tracking company by an overseas firm, without naming the company that was bought. Portfolio investments recorded outflows for the seventh consecutive quarter of R52-billion in the first three months of 2024, compared to outflows of R9-billion in the fourth quarter of 2023. The portfolio outflows reflected the disposal by non-residents of R24.2-billion of domestic equities and R27.8-billion of domestic debt securities. "The outflow recorded for debt securities in the first quarter of 2024 could mainly be attributed to the maturity of a $1.5-billion international bond of national government," the Reserve Bank said.
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S Africa consumer confidence recovers in Q2, survey shows
Published: 27 Jun 24
South Africa's consumer confidence improved slightly in the second quarter due to fewer hours of loadshedding and a drop in fuel and food prices, but uncertainty around national elections kept some consumers worried, data released on Thursday showed. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research (BER), improved to minus 12 points in the quarter, from minus 15 points in the first quarter.
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Namibia to build second desalination plant in January
Published: 27 Jun 24
Drought-prone Namibia, currently facing its worst drought in over a century, will start constructing its long-awaited second desalination plant in January 2025, the minister of agriculture said on Wednesday. Approval for a second desalination plant with a capacity of about 20 million cubic metres has been granted, and the plant is expected to be commissioned by early 2027, said Calle Schlettwein, minister of agriculture, water and land reform.
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Africa50 pledges $100m to accelerate renewable-energy projects, infrastructure
Published: 26 Jun 24
Infrastructure investment and asset management company Africa50 has pledged up to $100-million to fund and co-finance renewables-based energy transition projects and infrastructure across Africa through the International Renewable Energy Agency's (Irena's) Energy Transition Accelerator Financing (ETAF) platform. The collaborative partnership with Africa50 reinforces the ETAF platform's efforts towards sustainable development and climate action across the continent.
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Legislative certainty amid government shuffle crucial for continued renewable-energy investment
 Published: 26 Jun 24
A clear and certain legislative framework is critical for enabling sustainability and green energy investments in South Africa going forward, especially given the changes taking place in government following unprecedented outcome of the May 29 elections, Absa Corporate and Investment Banking (CIB) environmental, social and governance head Msizi Khoza has said. Speaking at a media roundtable event at the Absa headquarters, in Sandton, on June 26, he emphasised the well-documented transformative effect of clear and consistent legislation on the renewable energy sector.
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Gauteng municipalities urged to comply with STS rollover before November
Published: 26 Jun 24
The South African Local Government Association (Salga) has urged municipalities across Gauteng to comply fully with the November 24 deadline for the implementation of the Standard Transfer Specification (STS). The STS is an internationally recognised standard for the transfer of electricity and other utility prepayment tokens and is used by more than 500 utilities in more than 40 countries worldwide.
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Companies need to adjust operating, business models amid growth in generative AI
Published: 26 Jun 24
Generative AI (genAI) is having a measurable impact on companies that adopt these systems, and 58% of workers that are using genAI are able to save five hours a week in work time, the 'AI at Work in 2024' report, published by consulting firm Boston Consulting Group (BCG), shows. The focus of companies is now shifting from adoption of the technology to using the increased availability of employees' time to add value or improving the satisfaction of employees, says BCG technology design division BCG X global leader Sylvain Duranton.
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South Africa continues to push for long extension to Agoa well ahead of 2025 expiry
Published: 26 Jun 24
With the expiry of the Africa Growth and Opportunity Act 15 months away, South Africa is continuing to call for an early and substantial extension of the preferential trade arrangement, which has been in place since 2000. Department of Trade, Industry and Competition chief director for bilateral trade relations Malose Letsoalo reported this week that South Africa remained optimistic that Agoa would be extended beyond its September 2025 expiry date.
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Boeing now sources nearly 40% of its electricity from renewable energy
Published: 26 Jun 24
Last year, US-based global major aerospace group Boeing sourced 39% of its energy from renewable electricity sources. This was achieved through a combination of direct buys and renewable energy credits. This was one of the highlights revealed by Boeing’s just-released 2024 Sustainability & Social Impact Report. “We’re honoured to share the steady progress we’ve made on sustainability, which will always be anchored in safety and quality,” affirmed Boeing Chief Sustainability Officer Brian Moran. “As we recommit to these fundamental values, it is energising to see our company’s focus on helping our industry decarbonise while uplifting our communities and driving a culture of inclusion where everyone’s voice is heard.”
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Hendrina Wind Farm, South Africa
Published: 28 Jun 24
Maydon Wharf precinct liquid bulk facility, South Africa
Published: 28 Jun 24
Kaminho deep-water project, Angola
Published: 28 Jun 24
Demonstrating its broad commitment to education, entrepreneurship and leaving a positive legacy in the Johannesburg central business district...
Tianqi asks Chile regulator to reconsider decision on SQM-Codelco deal
Published: 28 Jun 24
China's Tianqi Lithium has appealed Chile's financial regulator to reconsider its decision about the SQM-Codelco lithium deal not needing...
FQM to launch formal arbitration versus Panama in July
Published: 28 Jun 24
Canadian miner First Quantum Minerals will launch formal arbitration proceedings against Panama in July over the country's decision to close the...
