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Macro & Micro

Oil barrels
South Africa is still tapping oil stockpile to fund fuel subsidy
22nd October 2024 By: Bloomberg

South Africa is still selling oil from strategic stockpiles to fund measures introduced two years ago to cushion consumers from a spike in road fuel prices. The Strategic Fuel Fund Association paid... 


Wind and solar generators
IPP procurement changes mulled to unlock 10 GW of renewables amid grid pressures and green industrialisation ambitions
21st October 2024 By: Terence Creamer

The South African government is considering far-reaching changes to the way public procurement of independent power producer (IPP) generation capacity is being carried out so as to accelerate... 


BLSA CEO Busi Mavuso
Automotive industry the ‘unsung hero’ of the South African economy – Mavuso
21st October 2024 By: Darren Parker

Business Leadership South Africa (BLSA) CEO Busi Mavuso has described the domestic automotive industry as the “unsung hero of the South African economy” after joining the naamsa | The Automotive... 


The JSE's premises in Sandton
JPMorgan expects South Africa IPO surge on economic optimism
21st October 2024 By: Bloomberg

South Africa is poised for a surge in initial public offerings and fund-raising activity as soon as next year, spurred by optimism that the continent’s biggest economy may be turning a corner after... 


Half of global GDP facing double-digit increase in insolvencies
18th October 2024 By: Schalk Burger

Trade credit insurance company Allianz Trade's latest Global Insolvency Report points to a more severe outlook for the global business landscape, with insolvencies projected to increase by 11% in... 


Scatec has already developed the hybrid Kenhardt project in the Northern Cape, comprising 540 MW of solar PV and a 225 MW/1 140 MWh BESS facility
Scatec making final preparations for construction of R3bn Northern Cape battery project
18th October 2024 By: Terence Creamer

Renewable-energy group Scatec says it is making final preparations to start construction of the R3-billion Mogobe battery energy storage system (BESS) project, which reached financial close on... 


Water Tap
Biggest companies to help resolve South African water crisis
18th October 2024 By: Bloomberg

South Africa’s biggest companies are exploring widening a partnership with the government to help resolve a water crisis that’s threatening to leave the nation’s commercial hub dry. Business for... 


komati power station with solar panels in front
German energy expert says energy transition a mistake
18th October 2024 By: Darren Parker

The energy transition in its current form, as a grid-scale build out of wind and solar with the goal to replace oil, coal, and gas, is probably one of the greatest mistakes that humanity has ever... 


Reserve Bank Governor Lesetja Kganyago
South Africa could lower inflation target at little cost, central bank governor says
17th October 2024 By: Reuters

South Africa's central bank governor, Lesetja Kganyago, said on Thursday that the country could move to a lower inflation target at little cost. Kganyago is a strong advocate for a lower target... 


Malben Engineering founder Amerigo Smargiasso (centre) in front of green steel coil, alongside (left to right standing) Jithin Kottikal, Giuliano Smargiasso, Luca Smargiasso, of Malben, with Lee-Ann Geyser, of Allied Steelrode, Marco Smargiasso and Werner Kapp, also of Malben, and Naacam CEO Renai Moothilal, with Shane Barnard of United Steel and Marius Schafer of Malben kneeling.
In pioneering move, Malben Engineering begins green steel trial at Nigel auto component plant
17th October 2024 By: Creamer Media Reporter

South African manufacturer Malben Engineering, of Nigel, is pioneering the use of green steel in the production of automotive components for leading local original equipment manufacturers (OEMs).... 


Electricity and Energy Minister Kgosientsho Ramokgopa (centre) at the signing ceremony with (left to right) DMRE DG Jacob Mbele, EDF Africa VP Laurent Clement, Scatec business development VP Alberto Gambacorta, NTCSA interim CEO Segomoco Scheppers and IPPO head Tshifhiwa Bernard Magoro
First two private utility-scale battery projects reach commercial close
17th October 2024 By: Terence Creamer

Two projects selected as preferred bidders under South Africa’s inaugural Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) bidding round have advanced to... 


Insurance M&A dealmaking up in early 2024 – PwC
16th October 2024 By: Darren Parker

Auditing firm PwC says the first half of this year saw a measured uptick in dealmaking across the insurance industry, both globally and in South Africa However, despite the emergence of a turning... 


AMSA's Vanderbijlpark plant
AMSA reports R1bn third-quarter loss amid ‘particularly difficult period’
16th October 2024 By: Darren Parker

Steel producer ArcelorMittal South Africa (AMSA) has reported a headline loss of a little more than R1-billion for the third quarter. “The global and local steel market deteriorated further since... 


Handshake next to French flag
Businesses increasingly confident of investing in South Africa as reforms take shape
16th October 2024 By: Marleny Arnoldi

Pharmaceuticals group Aspen strategic trade development executive Stavros Nicolaou has confirmed that the Government of National Unity’s (GNU’s) efforts to accelerate economic growth in South... 


Business insolvencies to increase by 11% this year – Allianz
16th October 2024 By: Schalk Burger

Trade credit insurance company Allianz Trade's latest 'Global Insolvency Report' points to a more severe outlook for the global business landscape, with insolvencies projected to increase by 11%... 


AMSA production facility
‘Support and commitment’ not enough to save long steel business, urgent action needed – AMSA
16th October 2024 By: Darren Parker

Government’s support for, and commitment to, addressing the removal of export tax on scrap metal, resetting the price preference system (PPS) mechanism at an appropriate level, implementing trade... 


IEA executive director Fatih Birol presenting the World Energy Outlook 2024
Africa’s critical-minerals role highlighted as world moves into ‘Age of Electricity’
16th October 2024 By: Terence Creamer

With the global energy system moving into the “Age of Electricity”, the International Energy Agency (IEA) has again highlighted the central role of Africa in producing the critical minerals... 


Public Works and Infrastructure Minister Dean Macpherson and Infrastructure South Africa acting head Mameetse Masemola
DPWI, ISA launch project preparation bid window to expand infrastructure investment
15th October 2024 By: Darren Parker

The Department of Public Works and Infrastructure (DPWI), together with government agency Infrastructure South Africa (ISA), has opened a novel project preparation bid window to invite submissions... 


Business confidence steadily being restored – Sacci
15th October 2024 By: Creamer Media Reporter

The South African Chamber of Commerce and Industry's (Sacci's) Business Confidence Index (BCI) averaged 110.9 for the first nine months of this year – a 1.7 index improvement on the average of... 


The IMF logo on a wall
Global public debt to hit $100tr by end of 2024, IMF Says
15th October 2024 By: Bloomberg

Global public debt is set to reach $100-trillion, or 93% of global gross domestic product, by the end of this year, driven by the US and China, according to new analysis by the International... 


steel stock in warehouse
Global steel demand to decline by a further 0.9% in 2024 – worldsteel
14th October 2024 By: Darren Parker

The World Steel Association (worldsteel) expects global steel demand to decrease by 0.9% to 1.75-billion tonnes this year. “2024 has been a difficult year for global steel demand as the global... 


TotalEnergies
South Africa’s rising fuel imports cause supply shortage risk
14th October 2024 By: Bloomberg

South Africa’s rapid switch to become a net importer of fuel creates supply risks requiring infrastructure to store and transport the fuel, according to State-owned logistics firm Transnet.... 


Tito Mboweni
Industry, govt mourn the loss of public service titan Mboweni
14th October 2024 By: Marleny Arnoldi

Condolences have streamed in from the business, academic and government spheres following the death of former Finance Minister Tito Mboweni at the weekend. Finance Minister Enoch Godongwana... 


GNU Cabinet
Ramaphosa believes SA heading in the right direction under GNU
14th October 2024 By: Thabi Shomolekae

President Cyril Ramaphosa said on Monday that widespread support for the seventh administration, made up of 11 political parties, and the continued reform agenda, has contributed to the improvement... 


Former Finance Minister Tito Mboweni
Former finance minister Tito Mboweni dies at 65
14th October 2024 By: Reuters

South Africa's former finance and labour minister and first Black central bank governor Tito Mboweni has died aged 65 following a brief illness, the presidency said late on Saturday. Mboweni was an... 


Eskom power lines
South Africa power-line rollout set to spur bond market revival
11th October 2024 By: Bloomberg

A multibillion-dollar plan to expand South Africa’s electricity transmission network could throw a lifeline to the country’s corporate bond market as it struggles to recover from a post-pandemic... 


Sasol president and CEO Simon Baloyi (centre right) on site with the Msenge Emoyeni Wind Farm team.
69 MW Msenge Emoyeni Wind Farm begins wheeling electricity under contract with Sasol
10th October 2024 By: Terence Creamer

The 69 MW Msenge Emoyeni Wind Farm, located in Bedford in the Eastern Cape, has entered into commercial operation and is wheeling electricity into the national grid helping to green the electricity... 


Manufacturing records contraction in overall output for August
10th October 2024 By: Marleny Arnoldi

Statistics South Africa reports that the country’s manufacturing production decreased by 1.2% year-on-year in August, with the largest negative contributors having been motor vehicles, parts and... 


Rail line
Business sees third-party rail access as crucial to meeting 250Mt volume target
10th October 2024 By: Terence Creamer

An initial assessment by business into what it would involve to raise yearly freight rail volumes to 250-million tons, estimates that Transnet’s recovery alone could lift yearly volumes to about... 


Reserve Bank Governor Lesetja Kganyago
Kganyago sees South African inflation dip creating policy space
10th October 2024 By: Bloomberg

South African Reserve Bank Governor Lesetja Kganyago said inflation could fall below 4% in coming months, creating more room for action after officials cut interest rates in September. ‘We expect... 


Shopping bag with veg and fruit
Steenhuisen vows more targeted approach to resolving food security challenge
10th October 2024 By: Marleny Arnoldi

About 20-million South Africans, or 63% of households, are food insecure, Agriculture Minister John Steenhuisen revealed at the unveiling of the results of the National Food and Nutrition Security... 


DFFE international governance and resource mobilisation chief policy adviser Stuart Mangold; Danish Industries project lead Clara Halvorsen; Danish Industry ESG and sustainability senior adviser Dr Vibeke Huge Rehfeld; Forestry, Fisheries and the Environment Deputy Minister Narend Singh; and Danish Industry CBAM expert Anna Ipsen Nielson
Broad recognition of need for, benefits of, metals industry's transition to a low-carbon pathway, but funding limited
10th October 2024 By: Schalk Burger

Representatives of South Africa's metals and engineering industry and government have emphasised the need to transition the industry to a low-carbon pathway and discussed the benefits this would... 


IEA executive director Fatih Birol
Cost-competitiveness to underpin surge in global renewables roll-out to 2030 - IEA
9th October 2024 By: Terence Creamer

Led by solar PV, renewables are poised to transform electricity systems across the globe this decade, with the world on course to add more than 5 500 GW by 2030, the International Energy Agency’s... 


rural off-grid solar power
$21bn increase in off-grid solar investment needed to facilitate universal energy access
8th October 2024 By: Darren Parker

A $21-billion increase over current investment levels is required to realise the off-grid potential of solar power to contribute to universal energy access, according to the latest ‘Off-Grid Solar... 


Industrial Gas Users’ Association of Southern Africa CEO Jaco Human
Opinion: Non-profit gas aggregation imperative for South Africa
8th October 2024

In this opinion article, Industrial Gas Users’ Association of Southern Africa CEO Jaco Human makes the case for pursuing gas aggregation on a non-profit basis, while also urging Eskom and Sasol to... 


A customer shopping for groceries
South African antitrust body faults grocers over high food costs
8th October 2024 By: Bloomberg

South African food producers and retailers have been slow to pass on the effects of declining cost pressures to cash-strapped consumers, an issue that may warrant further investigation, the... 


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