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Grindrod outlines focus for 2025, reflects on 2024 performance

Published: 19 Dec 24

JSE-listed logistics company Grindrod, in a December 19 pre-closing trading update, said its focus going forward would be to drive growth in bulk handling, container handling, logistics capability and rail and transport, adding that demand for Grindrod's logistics service offering and its long-term business fundamentals remain strong. Earnings before interest, taxes, depreciation and amortisation (Ebitda) margin in its Port and Terminals segment remained healthy at 35% this year, down from 42% in 2023.

Ramaphosa assents to National Nuclear Regulator Amendment Bill

Published: 19 Dec 24

President Cyril Ramaphosa on Thursday assented to the National Nuclear Regulator Amendment Bill, which provides for nuclear safety oversight, ranging from the decontamination of defence facilities to airline pilot safety. The Amendment Bill amends the National Nuclear Regulator Act of 1999 to align it with current international regulatory best practices as determined by the International Atomic Energy Agency (IAEA).

Eskom reports R25.5bn loss amid systemic challenges, recovery efforts

Published: 19 Dec 24

State-owned power utility Eskom has reported a R25.5-billion loss before tax for the financial year ending March 31, 2024, following a year marked by operational setbacks, financial strain and systemic inefficiencies. With 329 days of loadshedding and heavy reliance on costly open-cycle gas turbines (OCGTs) during the 2024 financial year, along with escalating municipal debt, the utility continued to face persistent challenges while working towards recovery.

Afreximbank signs private sector DRC hydropower project agreement

Published: 19 Dec 24

Trade and development finance institution the African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for an up to 200 MW private-sector, reservoir-based hydropower project to be located along the Lufira river, in the Democratic Republic of Congo (DRC). The bank has partnered with independent power producer Kipay Investments, which will develop, design, build, install, commission and operate, as well as manage, the hydroelectric power plant.

South Africa still in ‘foothills of economic recovery’ as fourth-quarter policy uncertainty rises to 65.7

Published: 19 Dec 24

South Africa is "still in the foothills of economic recovery" and, while external influences must still be skillfully navigated, the country's future economic performance will hinge mainly on domestic policy decisions that maintain a macroenvironment that is efficient, stable and consistent for investment and job-rich growth. This is the main message of the North-West University Business School’s Policy Uncertainty Index (PUI) for the fourth quarter, with the PUI unexpectedly rising much further into negative territory to 65.7, compared with 53.5 in the third quarter of the year, said NWU Business School Professor Raymond Parsons.

Commission recommends CPI + 1.5% increase for the national minimum wage in 2025

Published: 19 Dec 24

The National Minimum Wage (NMW) Commission has published a recommendation in the Government Gazette that the national minimum wage be adjusted by the rate of consumer price inflation (CPI) plus 1.5% from March 2025. The NMW Commission has called for the public to submit written representations on the recommendation. The proposal for the national minimum wage follows a recent invitation for written representations on potential adjustments to South Africa’s NMW for 2025.

MTN Group announces leadership changes

Published: 18 Dec 24

Telecommunications group MTN Group has announced leadership changes as part of its succession plans and advancing its Ambition 2025 strategy. Mitwa Ng’ambi, CEO of MTN Cameroon, will move to the same position at MTN Côte d’Ivoire, effective March 1, when MTN Côte d’Ivoire CEO Djibril Ouattara takes early retirement.

Hand clicking on ESG and sustainability linked widgets

Network launched to support emerging markets to adopt sustainability reporting standards

Published: 18 Dec 24

A network has been established by 31 countries to support the adoption and use of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, or ISSB Standards. Adopting these standards helps countries align their sustainability-related disclosure requirements with the global baseline, thereby connecting them to global capital pools and investors seeking new investment opportunities, ISSB chairperson Emmanuel Faber said during a briefing on December 18.

Public Works and Infrastructure Minister Dean Macpherson

DPWI seeks input on better uses for 24 underutilised State-owned properties

Published: 18 Dec 24

The Department of Public Works and Infrastructure (DPWI) has released requests for proposals (RFPs) for 24 underutilised State-owned properties across the country. Members of the public and private entities have until March 13 to make proposals on how these properties can be used to ensure they contribute to the public good, help ignite job creation and add value to their communities.

The conveyor and Grindrod's Navitrade terminal

Grindrod achieves 2Mt coal throughput at its Navitrade terminal

Published: 18 Dec 24

Logistics group Grindrod has reached throughput of two-million tonnes of coal at its Navitrade terminal, in Richards Bay, with the support and collaboration of State-owned Transnet Port Terminals (TPT). The collective efforts of the TPT and Grindrod teams, as well as TPT’s strong quayside performance, have been instrumental in breaking previous records and positioning the terminal for continued success, Grindrod states.