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Milken Institute launches Africa Leaders Business Council

Published: 03 Jul 24

Development think tank the Milken Institute has launched the Africa Leaders Business Council, which brings together experts across business, technology, finance and investment, sustainability and innovation to support the Institute’s plan to deepen its network and engagements in Africa. This new programme represents the institute’s regional engagement strategy focused on paving the way for stronger, more comprehensive partnerships across the African continent.

Convergence fulfils conditions to acquire Datacentrix

Published: 03 Jul 24

Technology-focused private equity investment management company Convergence Partners has met all conditions precedent to acquire 100% of system integration service company Datacentrix from information and communication technology products and services provider Alviva. The Competition Commission and Independent Communications Authority of South Africa have unconditionally approved the transaction, Datacentrix said in a statement on July 3.

South Africa must develop solutions to address specific sanitation issues

Published: 03 Jul 24

Various technologies, from ventilated improved pit toilets to decentralised wastewater systems, offer potential solutions to some of the country’s sanitation challenges, but these technologies must be tailored to each community’s unique needs, particularly in informal settlements, the South African Institution of Civil Engineering (Saice) says. For example, gravity-driven sewerage systems require sufficient installation density to prevent blockages. Dispersed rural homesteads often lack this density, making extensive pumping systems unfeasible. Therefore, there is also a need for standalone systems that do not rely heavily on water.

Energy Regulator rescinds decision on new tariff-setting rules as Eskom prepares to apply for big hike

Published: 03 Jul 24

The Energy Regulator has rescinded its approval, made in December, of the so-called Electricity Price Determination Methodology Rules (EPDMR), which were proposed for implementation in the 2025/26 financial year as a replacement to the prevailing multiyear price determination methodology (MYPDM) for setting tariffs. The decision was made by the National Energy Regulator of South Africa’s (Nersa’s) highest decision-making structure during a meeting on June 27 and confirmed in a statement issued on July 2.

Grain SA highlights crucial points of focus for new agriculture, land reform Ministers

Published: 03 Jul 24

Industry body Grain SA says it eagerly anticipates depoliticised government service delivery following the election of new political leaders and Cabinet members. Grain SA expects the Government of National Unity, with its focus on inclusivity through economic growth, will support the different departments to achieve goals as captured within various well-developed plans.

Half of turbines for Koruson 1 wind farms delivered to site

Published: 03 Jul 24

About half of the 237 turbine blades and other components required for the Koruson 1 cluster of wind farms, being built on the border of the Eastern and Northern Cape provinces, have been delivered to site. The Koruson 1 cluster comprises the Phezukomoya, San Kraal and Coleskop wind farms and is being developed as part of Round 5 of the Renewable Energy Independent Power Producer Procurement Programme.

A truck transporting coal, with a power station in the background

South Africa seeks to renegotiate coal pact tied to $2.6bn

Published: 03 Jul 24

South Africa is seeking to alter the terms of a landmark agreement under which it promised to cut its reliance on coal in exchange for access to financing. The government of President Cyril Ramaphosa is pushing to renegotiate a deal with Climate Investment Funds (CIF), a group tied to the World Bank, so that it won’t be required to close three coal-fired power plants in the coming years. The plants, owned and operated by Eskom Holdings, are among the country’s biggest polluters, according to government advisers.

South Africa business activity falls in June, S&P PMI shows

Published: 03 Jul 24

South African private sector activity fell in June as output and new orders slipped on uncertainty over the outcome of an election held in May, a survey showed on Wednesday. The S&P Global South Africa Purchasing Managers' Index fell to 49.2 in June from 50.4 in May. A reading below 50 indicates contraction.