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Transnet claims World Bank container port index contains ‘factual errors’
Published: 12 Jun 24
South Africa’s Transnet claims the World Bank’s 2023 Container Port Performance Index (CPPI) – in which South Africa’s ports rank dismally overall and the Port of Cape Town came in at the bottom of the 405 ports listed – contains “factual errors” that it had no opportunity to contest or correct. In a statement, Transnet reports it has already met with World Bank representatives to raise its concerns about both the data, derived from Automatic Identification System and liner shipping data, and the methodology employed to compile the index.
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CDE suggests new administration should shrink, streamline Cabinet
Published: 12 Jun 24
A significant reduction in the number of Cabinet Ministers and a fundamental overhaul of the Presidency are important steps towards fixing South Africa’s weak State, says policy research organisation Centre for Development and Enterprise (CDE) executive director Ann Bernstein. Smaller Cabinets tend to be more agile, more collegial and more accountable, she adds, noting that Cabinet processes would be greatly strengthened by a far more rigorous process of priority-setting, so that government focuses on doing fewer things well.
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PPC to report higher full-year earnings as Zimbabwe operations improve
Published: 12 Jun 24
JSE-listed cement company PPC has informed shareholders that it expects to report increases in its earnings per share (EPS) and headline earnings per share (HEPS) of at least 20% year-on-year for the financial year ended March 31. The company on June 12 attributed the expected increases in EPS and HEPS to a strong performance by PPC Zimbabwe in the financial year under review, compared with a poorer performance in the 2023 financial year on the back of an extended kiln shutdown.
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Telkom expects improved FY24 results
Published: 12 Jun 24
JSE-listed Telkom on Wednesday said it expects a triple-digit increase in its basic earnings per share (BEPS) and headline earnings per share (HEPS) for the year ended March 31, 2024. This is attributed to a stronger operational performance driven by continued demand for next-generation technologies, the revenues of which increased 7% to comprise almost 80% of total group revenue, along with cost-optimisation initiatives.
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South Africa urged to integrate successful global grid-battery strategies to support roll-out
Published: 12 Jun 24
South Africa should consider ways to replicate strategies employed in regions such as South Australia and California to facilitate an accelerated uptake of grid batteries, which a new International Institute for Sustainable Development (IISD) report states can be introduced to support grid stability and bolster the flexibility required to support variable renewables generation. While stressing that solutions are “location specific”, the report, which is the second in a series by IISD, argues that some replicable strategies could include enabling battery operators to benefit from multiple revenue streams and offering specific financing mechanisms for initial projects.
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Africa added 2 GW of hydropower last year, but IHA says 90% of on-river potential untapped
Published: 12 Jun 24
Africa added over 2 GW of hydropower capacity in 2023 but 90% of the continent’s on-river hydropower potential remains untapped, a new report states. Published by the International Hydropower Association (IHA), the ‘2024 World Hydropower Outlook’ reports that Africa added more new capacity in 2023 than any region besides East Asia, where 8 586 MW was added.
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Renergen brings liquid helium back online following shutdown
Published: 11 Jun 24
Renergen has completed the shutdown, checks, calibrations and corrective actions at its liquid helium facility, in Virginia, in the Free State, and has restarted the facility, resuming liquid helium production as of June 4. An original-equipment manufacturer (OEM) in April brought the helium cold box to the appropriate temperature to liquify helium in batches from wells at the project area. This process involved the purification of the helium to a level of 99.999% purity, which was validated by an independent third-party laboratory.
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Major Canadian airline will have connectivity to South Africa, via the UK, in a few months
Published: 11 Jun 24
With effect from this upcoming southern summer/northern winter season, major Canadian airline WestJet (so-called because it is based in Western Canada) will be selling tickets to passengers for flights to both Cape Town and Johannesburg, among other destinations in Africa and Asia. This is the result of an expanded codeshare agreement that the carrier has signed with UK airline Virgin Atlantic. “Through the expansion of our existing partnership with Virgin Atlantic, we are unlocking amazing opportunities for our guests to access an extensive list of new destinations and to experience Virgin Atlantic’s innovative products and services beyond London,” highlighted WestJet Executive VP and COO John Weatherill. “With daily flights from our global hub in Calgary to London, Canadians have never had better international access from across Western Canada to the United Kingdom and beyond.”
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Greeff resigns as EOH CFO
Published: 11 Jun 24
JSE-listed information and communications technology services company EOH Group's CFO Marialet Greeff has resigned and will step down from her position with effect from September 30 to pursue other interests. EOH's board has started a process to identify an appropriate successor and will advise shareholders on the appointment of a new group FD in due course.
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Cluff Africa signs agreement to acquire Zimbabwe lithium permits
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UK-based mineral resources investment company Cluff Africa has signed a term sheet with Zimbabwe sovereign wealth fund, Mutapa Investment Fund, to...
