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South Africa gets new Communications Minister

Published: 01 Jul 24

President Cyril Ramaphosa has appointed the Democratic Alliance’s Solly Malatsi as Communications and Digital Technologies Minister as the Government of National Unity’s Cabinet is formed. He becomes the department’s seventeenth Minister since 1994, and its fifth since 2018.

Business welcomes finalisation of Cabinet, highlights focus areas for economic growth

Published: 01 Jul 24

Business organisations have responded to President Cyril Ramaphosa’s announcement of a final agreement for a Government of National Unity (GNU) and the new Cabinet, with consensus that an announcement finally being made bodes well for the new administration and provides a platform for it to begin undertaking the necessary work. North-West University Business School economist Professor Raymond Parsons highlights that the announcement is, as a whole, positive for business and investor confidence.

Progress made in reducing water lettuce invasion in Vaal

Published: 01 Jul 24

The volume of the water lettuce and water hyacinth across the Vaal River Barrage Reservoir has reduced markedly over the past few months as removal efforts continue. According to a Rand Water statement, water lettuce and hyacinth coverage shrunk from 395 ha in April to 100 ha currently.

South Africa opposition makes debut in Ramaphosa’s unity Cabinet

Published: 30 Jun 24

South African President Cyril Ramaphosa announced his new Cabinet, allocating ministerial posts to opposition politicians while retaining close ally Enoch Godongwana as finance minister. The announcement of the new executive followed more than a week of negotiations that ensued when the African National Congress invited its rivals to join a so-called government of national unity after losing its parliamentary majority in May 29 elections. Nine parties accepted the offer and agreed to back Ramaphosa’s reappointment as president in exchange for being allocated other posts.

Eskom to hit CO2 targets despite coal plant extension, CEO says

Published: 28 Jun 24

South Africa's state power company Eskom will meet its target to reduce carbon emissions by 71-million metric tons a year by the end of the decade, its new CEO said on Friday, despite scrapping plans to retire six coal-fired power stations by then. But CEO Dan Marokane said Eskom's immediate priority was bringing an end to the power blackouts that have devastated the economy of Africa's most industrialised nation over the past few years.

Hudaco’s interim performance hampered by suspended loadshedding

Published: 28 Jun 24

Diversified consumer and engineering products group Hudaco has faced a challenging start to the 2024 financial year, with the reduction in loadshedding negatively impacting on some of its alternative energy businesses, resulting in an overall lacklustre set of interim results. "It's been a rather challenging six months for us, I think for most of South African business. There was reduced loadshedding, but we have an up and down factor in that, when there is loadshedding, we have some businesses that tend to perform well, but when there's no loadshedding, that business kind of falls away,” Hudaco CEO Graham Dunford said at the release of Hudaco’s interim results for the six months ended May 31.

Nersa approves tariff increases for new financial year, City Power unpacks higher charges

Published: 28 Jun 24

The National Energy Regulator of South Africa (Nersa) has approved the tariff applications of 178 licenced electricity distributors, including municipal and private distributors, for the 2024/25 financial year. The new tariffs become effective on July 1.

SolarSaver showcases innovations of its latest solar installation in Melrose Arch precinct

Published: 28 Jun 24

Energy company SolarSaver has successfully completed a solar installation at the Marriott Hotel Melrose Arch and the African Pride Hotel, both of which are based in the Melrose Arch precinct in Gauteng. Owing to the limited available roof space for solar panel installation, SolarSaver collaborated with property developer Amdec Group to find a solution.

PRASA passenger numbers reach 40-million a year, up 167% – Emeran

Published: 28 Jun 24

The Passenger Rail Agency of South Africa (PRASA) is “making steady and significant progress in getting passenger trains back on track”, with the urban rail service carrying about 40-million passengers in 2023/24 on 31 of the 40 PRASA rail corridors now operational, says CEO Hishaam Emeran. Emeran says passenger numbers have climbed by almost 25-million from a year ago.

Dealmakers optimistic on global M&A prospects despite sluggish growth

Published: 28 Jun 24

Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that has made valuations pricey weighed on dealmaking in the last three months.