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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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Half of China’s NEV brands likely to fail; exports set for steep growth
Published: 26 Jun 24
More than 130 brands are currently competing in China’s new-energy vehicle (NEV) market, says GlobalData Automotive Division China operations manager John Zeng. Three brands, however, dominate the market, with Tesla, BYD and Seres having taken 42% of the NEV market in the first quarter of this year.
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South African govt, stakeholders seek further WTO support in citrus industry's battle with the EU
Published: 26 Jun 24
The South African government and industry organisations have requested that two panels be established at a meeting of the Dispute Settlement Body (DSB) of the World Trade Organisation (WTO) to examine the stringent citrus import measures being imposed on South Africa by the European Union (EU). The local stakeholders wish to address regulations around citrus black spot (CBS) and false codling moth (FCM) as they deem these to be unscientific and discriminatory.
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Radioactive device on rhino horns rolled out to fight poaching
Published: 26 Jun 24
Beckham, a 1.7 tt rhino named after the English footballer, on Tuesday had a radioactive pellet drilled into his horn as a program to discourage poaching of the endangered animals in South Africa scales up. The Rhisotope Project, which is being run by Johannesburg’s University of the Witwatersrand, is just one of a number of ways ranging from staining horns with dye to cutting them off that conservationists in the country with the world’s biggest rhino population are seeking to protect the animals. It has the added advantage in that horns implanted with the pellets could be detected as they pass through borders, airports and harbours.
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Two killed in mortar attack on South African army base in Congo
Published: 26 Jun 24
South Africa's military said on Wednesday that a mortar attack on one of its bases in eastern Democratic Republic of Congo a day earlier had killed two people and injured 20 others. South African troops are in Congo as part of a deployment by Southern African regional bloc SADC to help the government fight rebel groups.
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Major international funding agencies strengthen cooperation to benefit small farmers
Published: 26 Jun 24
The Organisation of Petroleum Exporting Countries’ Fund for International Development (OPEC Fund) has signed a cooperation agreement with the UN International Fund for Agricultural Development (IFAD). This will expand the existing partnership between the two agencies and strengthen the joint financing of food security and climate resilience projects, to support smallholder farmers around the world. Smallholder farmers are responsible for the production of 33% of the world’s food. “Food security and climate action are cross-cutting strategic themes for the OPEC Fund,” highlighted Fund president Abdulhamid Alkhalifa. “We are committed to supporting a sustainable and just energy transition while ensuring vital food supplies worldwide. We will boost our long-standing partnership with IFAD by working faster and smarter to deliver our support where it is needed most.”
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Just Energy Transition 2024: Investing in the future
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Iron-Ore 2023/24: Bracing for change
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Platinum Group Metals 2023: Crucial Element in the Energy Transition
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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
A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.
Despite big obstacles, AfCFTA viewed as key to weaving new trade and industrial tapestry
Published: 28 Jun 24
In the grand tapestry of international commerce, Africa’s 55 nations have stood as individual threads rather than a unified fabric of economic...
Mercedes-Benz SA considers cutting 700 jobs on back of struggling economy, ports
Published: 28 Jun 24
Mercedes-Benz South Africa (MBSA) says it will move from three shifts a day at its East London plant to two shifts, in a move that could...
