Новости за 23.02.2024

The Offshore Africa Training Centre (OATC), in Cape Town, in the Western Cape, celebrated its tenth anniversary on February 22 and introduced a new survival training course. As South Africa moves along in its journey towards energy security, OATC says the need for the safe and responsible exploration of natural gas options has become even more critical.

The South Africa Wind Energy Association (SAWEA) has elected three new board members – Lena Chirwa, Lance Blaine and Nontokozo Nkozi, who will serve as treasurer – for the 2024 financial year. Existing board members Titania Zincke, Jose Rodrigues and Niveshen Govender will continue in their respective roles, while Sunette Smith has been appointed chairperson.

Financial services provider Absa has launched its repositioned brand, signalling a shift to a more deliberately customer-centric business with the new brand promise being the theme ‘Your Story Matters’. “As a full-service bank, we cater for customers from all walks of life – from clients who only interact with us digitally, to those who prefer the reassurance of talking to one of our colleagues in-branch; we are a bank for all seasons.

Although Finance Minister Enoch Godongwana’s Budget, delivered on February 21, seemed somewhat prudent, Econometrix director and chief economist Dr Azar Jammine said there was not much in it to make one optimistic about South Africa’s economic future either. “The Budget does provide some relief for markets in the sense that it was not reckless. It maintained an element of fiscal austerity. I wasn't disappointed with the budget but I wasn't particularly excited either. There was nothing in it that... Читать дальше...

The Mpumalanga Tourism and Parks Agency (MTPA) has partnered with non-governmental organisation the Aspinall Foundation and its South African subsidiary WeWild Africa to create one of the largest Big Five game reserves in South Africa by unlocking the conservation and ecotourism potential of the Loskop Dam Nature Reserve and the surrounding areas known as the Loskop Cluster, in Mpumalanga. This will be the first agreement of its kind in the country where a provincial conservation agency has facilitated... Читать дальше...

The United Nations Conference on Trade and Development (Unctad) estimates that transits passing through the Suez Canal have decreased by 42% compared with its peak, owing to attacks on Red Sea shipping lanes. With major players in the shipping industry temporarily suspending Suez transits, weekly container ship transits have fallen by 67%, and container-carrying capacity, tanker transits and gas carriers have experienced significant declines, notes the global body in a report called “Navigating Troubled Waters. Читать дальше...

The National Energy Regulator of South Africa (Nersa) reports that a further 124 generation facilities were registered during the third quarter of its financial year from October to December, increasing the number of facilities registered since 2018 to 1 087. The newly registered generators have a combined capacity of 605 MW and a collective investment value of R7.8-billion.

UK-based global major propulsion and power systems group Rolls-Royce has highlighted its presence in Africa. It did so in parallel with the release of its full-year results for 2023. The group’s businesses active across the country are Power Systems, Civil Aerospace, and Defence. “We have extensive organic growth across the continent; this demonstrates our potential,” affirmed the group. “Our innovative products and services have an important role to play in the sustainable development of the continent.”... Читать дальше...

National Treasury said there’s a case to be made for the central bank’s inflation target to be reviewed to improve competitiveness and given the adverse impact price growth has on the poor. The central bank, whose current target band is 3% to 6% with a preference for inflation to be anchored at the midpoint, has advocated for it to be lowered for several years. Governor Lesetja Kganyago has repeatedly said that a single-point inflation target of 3% would be in line with South Africa’s peers and allow for lower interest rates... Читать дальше...

National Treasury has proposed key amendments to municipal legislation and National Treasury Regulations 16 (NTR 16) following a review of the Public Private Partnerships (PPPs) Framework, which is now open for public comment until March 23. This is in line with the announcement made by Finance Minister Enoch Godongwana in the 2023 Medium-Term Budget Policy Statement that the publication of amendments to the respective regulations would be communicated in the 2024 Budget.

Red Sea shipping delays and Opec+ supply cuts are tightening physical oil markets in Europe and Africa as well as the Brent crude market structure, lending further support to oil futures prices, according to traders, LSEG data and analysts. A sustained rise in crude prices would lift energy, transportation and manufacturing costs and threaten to unwind some of the recent falls in global inflation, just as major central banks are expected to begin cutting interest rates.

The Department of Trade, Industry and Competition (dtic) – in partnership with the Industrial Development Corporation and the National Empowerment Fund – will host the second Black Industrialists and Exporters Conference at the Sandton International Convention Centre, in Gauteng, on March 20. The event will comprise a day-long conference, and will provide a platform for an exchange of ideas, knowledge and information on the achievements of the Black Industrialists Programme since its inception in 2015... Читать дальше...

Global crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) decreased by 1.6% year-on-year to 148.1-million tonnes in January. The world's biggest steel producer China is estimated to have produced 77.2-million tonnes of crude steel in January – a 6.9% year-on-year decrease.

South Africa’s State power utility has failed to tap $2.5-billion of cheap loans to build critical transmission infrastructure that would help end the country’s crippling energy crisis. That’s brought a landmark climate finance agreement — the Just Energy Transition Partnership — to a virtual halt, and extends the country’s reliance on coal plants. Finance ministry pressure on Eskom Holdings SOC Ltd. to not take on new debt and a lack of clarity on how private investors can participate are hindering... Читать дальше...

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.

The South African new-car market has been shifting steadily over the last few years as consumers continue to battle persistent economic headwinds. Times are tough. Interest rates, living costs, fuel prices and new-vehicle price tags are all high, driven by not only international turmoil, but also poor management of the domestic economy, especially in terms of power supply and logistics channels such as ports and rail infrastructure.