The Johannesburg City Council this week approved the turnaround strategies for City Power Johannesburg and Johannesburg Water, as it aims to bolster essential municipal services across the city. The strategies will now be submitted to the National Treasury in compliance with regulatory requirements.
National Transmission Company South Africa (NTCSA) interim CEO Segomoco Scheppers has confirmed that the newly operationalised entity is making an allowable revenue application to the regulator that is distinct from that of Eskom as it seeks to secure the finances it requires for its operations and to implement its ambitious roll-out of new grid infrastructure. Speaking at an event co-hosted by the Powerline and Substation Association and the South African independent Power Producer Association, Scheppers argued that the newly separated entity had to be placed on a sound financial footing by securing the revenue required to run, maintain and expand the network.
An estimated 3.3-million new, direct jobs could be created across 12 green subsectors in Africa by 2030, a report published by staffing specialist company Shortlist and development agency FSD Africa, with analysis from consulting firm Boston Consulting Group (BCG) has found. The ‘Forecasting Green Jobs in Africa’ report shows that the majority of these new jobs will be created in the renewable-energy sector, particularly in the solar industry.
South Africa still has a stockpile of highly enriched uranium, Netwerk24 reported, citing Minister of Mineral and Petroleum Resources Gwede Mantashe. The nation declared its holdings of the nuclear material, which can be used to build weapons, to the International Atomic Energy Agency as part of a comprehensive precautionary agreement, the website reported, citing Mantashe. The level of enrichment of the uranium was classified information, it said.
The JSE has imposed a public censure and a fine of R3-million on State-owned utility Eskom over its failure to comply timeously with stipulations of the debt listings requirements (DLRs). Eskom is listed on the JSE as an issuer of debt securities and, therefore, has a continuing obligation to comply with the JSE DLRs.
Steel producer ArcelorMittal South Africa (AMSA), which has been bemoaning weak domestic demand conditions for several years, reports that it is witnessing signs of “green shoots” in manufacturing and has also expressed cautious optimism over a potential for a recovery in energy-, construction- and automotive-related demand. While reporting a 2% fall in volumes to 1.2-million tons in the first half of the year, as well as a material 10% slump in production to 1.2-million tons, largely owing to blast-furnace chilled hearth conditions at Vanderbijlpark in April and May, CEO Kobus Verster pointed to improving demand dynamics.
South Africa’s decaying water, electricity and logistics infrastructure presents a R100-billion a year repair and refurbishment investment opportunity that could provide much-needed stimulus for the declining manufacturing sector, Steel and Engineering Industries Federation of Southern Africa COO Tafadzwa Chibanguza has said. “Infrastructure spend in terms of the big capital projects is important for long-term industrialisation. [However], there’s also an important discussion that needs to be had at an intermediate level. You can actually run a massive scale industrialisation project just by repairing and rebuilding the current infrastructure.
Wind energy company Nordex Energy South Africa, which is building a new wind turbine concrete tower factory in Jeffreys Bay, says the ongoing construction is benefitting the region. “The construction of the plant is stimulating the local economy and fostering growth in the local supply chain through increased demand for raw materials and related goods and services, which is benefitting local businesses and suppliers,” says Nordex Energy South Africa sales head for Africa David Moncasi Hortet.
Gaia Fund Managers is raising $200-million for investment in African renewable energy plants and power grids with the assistance of Apex Group. The money will be raised through the Gaia Africa Climate Fund which will be domiciled in Luxembourg to allow US and European investors direct access. Apex Group will act as fund administrator.
State-owned power utility Eskom says 6.6-million out of its 6.9-million prepayment meters have successfully been precoded to ensure that customers will be able to continue to seamlessly buy electricity beyond the November 24 deadline. This is the cut-off date for all prepaid meters in South Africa to be recoded to continue to accept prepaid tokens.
INDUSTRY NEWS
WHERE TO FIND US
Address
9 Yellow Street
Botshabelo Industrial Area
Botshabelo, Free State
Call / Email Us
Tel: +27 (0) 61 956 6772
Email: info@transfix.co.za
