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Trade, Industry and Competition Minister Parks Tau

EU’s Carbon Border Adjustment Mechanism needs to be challenged, Tau says

Published: 20 Nov 24

Trade, Industry and Competition Minister Parks Tau has said that measures such as the Carbon Border Adjustment Mechanism introduced by the EU need to be challenged by developing economies at the level of the World Trade Organisation, as they are likely to have a negative impact on South Africa’s economic growth efforts. Nonetheless, he said there were significant opportunities to drive domestic industrialisation through global decarbonisation efforts, stating that South Africa must fully explore them for the benefit of the economy.

Tiger Brands to sell Baby Wellbeing business, excluding Purity

Published: 20 Nov 24

South Africa's biggest food producer Tiger Brands said on Wednesday it will sell its Baby Wellbeing business for R605-million, but will exclude its Purity brand, which it described as a core asset. The Baby Wellbeing business was identified as no longer a "financial and strategic fit" after an extensive portfolio review, Group CEO Tjaart Kruger said.

VistaJet unveils 18th Global 7500 ultralong-range jet in fleet

Published: 20 Nov 24

Private aviation services provider VistaJet has unveiled the eighteenth Bombardier Global 7500 ultralong-range business jet added to its fleet of 240 aircraft. The aircraft can do 17 hours of flight time with a range of 7 700 nautical miles, or 14 260 km, and a top speed of Mach 0.925, or 1 142 km/h. "These planes are incredible business tools, with 17 hours of non-stop flight enabling our customers to travel to almost anywhere in the world. VistaJet has about 5% of the world market share of on-demand flights," said VistaJet Europe and Africa president Philippe Scalabrini on November 20.

Electricity and Energy Minister Dr Kgosientsho Ramokgopa

Ramokgopa again moots policy interventions to provide relief from Eskom hike

Published: 20 Nov 24

Electricity and Energy Minister Dr Kgosientsho Ramokgopa, who is Eskom’s shareholder Minister, has reiterated his opposition to the utility receiving a 36.15% tariff hike next year, while also indicating that various policy interventions are being considered to reduce the increase. Speaking at a briefing in Pretoria that coincided with the National Energy Regulator of South Africa’s (Nersa’s) nationwide public hearings into Eskom’s sixth multiyear price determination (MYPD6) application, Ramokgopa expressed confidence that the hike would be “significantly” lower than what Eskom was requesting.

Dynapac launches new 15 t compaction machine in South Africa

Published: 20 Nov 24

Original-equipment manufacturer Dynapac recently launched a new soil compaction machine in South Africa to coincide with the company’s 90-year anniversary. Darren Parker tells us more.

Protectionism not the answer to South Africa’s economic problems, CDE says

Published: 20 Nov 24

Think tank the Centre for Development and Enterprise (CDE) has called for an overhaul of industrial policy to move it away from protectionism and towards a focus on maximising exports. The organisation on November 20 said a new approach to master plans, tariff-setting and competition policy was urgently required.

Govt progresses consultation on National Communication Satellite Strategy

Published: 20 Nov 24

The departments of Communications and Digital Technologies (DCDT) and Science, Technology and Innovation (DSTI), together with their entities, signal distribution company Sentech and the South African National Space Agency (SANSA), have provided an update on the National Communication Satellite Strategy (SatCom), which is aimed at narrowing the digital divide in the country. The parties estimate that the projected R5.2-billion to be spent on building a satellite is an initial starting point for South Africa’s technological sovereignty in this regard and will address the challenge of many remote and underserved rural areas across South Africa that are not yet connected.

Image of the car park installation at the VWA plant

VW Africa expands solar array at Kariega plant to more than 12 000 panels

Published: 20 Nov 24

Volkswagen Group Africa (VWA) has added an additional 3 MW solar power to its local grid, bringing the total output of renewable energy to 5.9 MW. This is enough energy to power at least 2 000 two-bedroom houses with geysers and electrical appliances.

Remodelled draft IRP to be unveiled next week for limited public consultation

Published: 20 Nov 24

A remodelled Integrated Resource Plan (IRP) for electricity will be released to the public next week and is expected to deviate materially from the heavily criticised draft IRP2023, which was published for public comment in January. Electricity and Energy Minister Dr Kgosientsho Ramokgopa says the revamped document has taken account of changes in the electricity supply industry since the publication of the draft IRP2023, as well as the 4 338 stakeholder comments received on the document, including 136 “substantive” comments.

South African business mood brightens to best level since March 2022

Published: 20 Nov 24

South African business sentiment rose its highest level since the first quarter of 2022, as constant electricity supply and political stability supported better business conditions. A quarterly business confidence index compiled by FirstRand's Rand Merchant Bank and Stellenbosch University’s Bureau for Economic Research rose to 45 for the three months through December, up from 38 during the prior quarter, according to a report published on Wednesday.