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Civil construction activity growth well supported, but sentiment remains low – survey

Published: 26 Jun 24

The First National Bank (FNB)/Bureau for Economic Research Civil Confidence Index decreased to 44 points in the second quarter, from an eight-year high of 47 in the first quarter. While slightly lower, activity growth remained well supported, while the pipeline of work improved noticeably, FNB reports.

Citrus Academy launches targeted skills training programme

Published: 26 Jun 24

Nonprofit training organisation the Citrus Academy has introduced a new Citrus SuperPower programme with which it aims to develop the skills and knowledge of supervisors, open new growth and progression opportunities and give workers the opportunity to become supervisors. The Citrus Academy was established by the Citrus Growers’ Association of Southern Africa (CGA) to enable human resource development in the industry.

Policy uncertainty index moves further into negative territory in the second quarter

Published: 26 Jun 24

The North West University (NWU) Business School’s Policy Uncertainty Index (PUI) moved further into negative territory in the second quarter, rising to 68.3 points, compared with 65.8 in the first quarter. This is, however, unsurprising given the uncertainty that weighed on business and market sentiment ahead of the national elections.

Eskom reports arrest of copper cable thief at Matla

Published: 26 Jun 24

State-owned power utility Eskom has apprehended a suspected copper cable thief at the Matla power station after security officers discovered the individual during routine search duties. The incident, which took place on June 23, was reported to the Kriel police station, with the suspect now facing charges of theft and unlawful possession of about R4 000 worth of copper cable.

Petco achieves 60% post-consumer PET recycling rate in 2023

Published: 26 Jun 24

Newly released audited data has shown that South Africa’s longest-standing producer responsibility organisation (PRO) Petco achieved a 64% collection and 60% recycling rate for polyethylene terephthalate (PET) beverage bottles placed on the market by its members last year. This exceeds the legislated 58% requirement for post-consumer PET recycling.

Airbus releases updated guidance for this year, signalling fewer deliveries and lower earnings

Published: 25 Jun 24

Europe-based global major aerospace group Airbus has released updated guidance for its expected performance for the rest of this year. Its previous guidance for the year had been issued in late April. The new guidance downscaled the group’s expected performance for this year, both in financial and delivery terms. This was because of issues with certain of the group’s space programmes, and challenges in the supply chain for its commercial airline business.

South Africa could leverage its potent solar and wind resources to power green manufacturing

‘Second wave’ of Operation Vulindlela set to prioritise ‘green and digital’ growth

Published: 25 Jun 24

The ‘second wave’ of government’s Operation Vulindlela initiative is poised to be widened to include additional structural reforms to those that have been pursued to date in electricity, freight logistics, telecoms, water and skills with the goal of stimulating higher levels of economic growth over the coming five years. Established jointly by the Presidency and the National Treasury in October 2020 to accelerate priority structural reforms to overcome problems identified as “binding constraints” to economic performance, Operation Vulindlela is expected to continue as a flagship programme under the government of national unity.

Thelo to raise $250m with eye on Africa’s giant rail corridors

Published: 25 Jun 24

Thelo Group’s management plans to buy Deutsche Bahn’s 49% shareholding and is in talks with financiers to raise $250-million to help the South African company transform into a developer of rail lines and ports in sub-Saharan Africa. The capital will be used “to expand our capacity quite aggressively,” fund “project preparation on some of the projects that we’ve already secured” and inject equity into them, Thelo’s chairperson Ronnie Ntuli said in an interview, adding that the company may ultimately seek to list on a stock exchange. Talks are being held with African financiers, including development finance institutions, as well as international investors over both debt and equity investment, he said.

Solar panels installed at Naboom Plastic's operations in Limpopo

435 kW solar, battery system ensures Naboom Plastic can produce, reduce backlog

Published: 25 Jun 24

Clean energy developer Blue Energy Africa has built a hybrid 435 kW solar and battery storage system for planting bags producer Naboom Plastic, in Mookgophong, Limpopo. The system provides the producer with energy security and operational resilience, as well as saving 80% to 90% on its previous electricity use from the grid. The implementation of the system has allowed Naboom Plastic to start clearing a 60 t production backlog caused by loadshedding. It also benefits the livelihoods of the company's 64 employees and their families.

Mayor Geordin Hill-Lewis among local government and Nedbank officials during the signing ceremony

Cape Town gets another R3.5bn for its record infrastructure spending target to 2027

Published: 25 Jun 24

The City of Cape Town has secured a further R3.5-billion in financing towards its plans to spend a record amount on infrastructure investment over the three years to 2027. Mayor Geordin Hill-Lewis conducted the signing ceremony with Nedbank on June 24, after the council greenlighted the financing on June 12.