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Eskom announces four executive appointments
Published: 17 Oct 24
Eskom Group CEO Dan Marokane has announced the first four of what will be seven new executive appointments, which he says are being made to address current business challenges and to support the organisation's strategic initiatives and growth plans. The appointments are all effective from November 1, and include:
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Mmete Fusi appointed acting group CEO of PetroSA
Published: 17 Oct 24
The Petroleum Oil and Gas Corporation of South Africa (PetroSA) has appointed Mmete Fusi as acting group CEO, effective immediately. The entity highlights that Fusi has vast leadership experience and knowledge of the continent’s minerals resources, oil and gas, ports and railway infrastructure.
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Zero Carbon Charge welcomes President’s announcement of EVs incentives, cautions on source of power
Published: 17 Oct 24
Solar-powered charging station provider Zero Carbon Charge has welcomed President Cyril Ramaphosa’s announcement, in an address at SA Auto Week, in Cape Town, on October 17, that government is considering introducing new incentives to encourage consumers to buy electric vehicles (EVs). The President indicated that these incentives could include tax rebates for consumers who currently face a 25% tax on EVs compared with the 18% tax on internal combustion vehicles.
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South Africa maintains top position in Standard Bank trade barometer
Published: 17 Oct 24
South Africa, Namibia and Angola retained their rankings in the fourth issue of Standard Bank’s Africa Trade Barometer (SB ATB) at positions one, two and ten, respectively. The ATB trade attractiveness rankings reveal a dynamic shift in trade standings among the ten African nations it covers.
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Mamabolo launches digital solution to improve Gauteng’s project delivery efficiency
Published: 17 Oct 24
Gauteng Infrastructure Development and Cooperative Governance and Traditional Affairs MEC Jacob Mamabolo has unveiled a new digital solution to support its already established Lutsinga Infrastructure House, the nerve centre for Gauteng’s infrastructure projects. The Infrastructure Delivery Platform (iDEP) is designed to mitigate the various challenges and delays experienced in the completion and delivery of infrastructure projects, including schools, hospitals, clinics and libraries, besides many others, across Gauteng.
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Domestic coal suppliers asked to lower price asked of Eskom
Published: 17 Oct 24
Energy and Electricity Minister Kgosientsho Ramokgopa’s special adviser, Silas Zimu, has implored South African coal producers to temporarily sell coal to State-owned utility Eskom at a reduced price for the next three years to offset the proposed 36.15% electricity price increase for direct Eskom customers. In return, coal suppliers would receive extended contracts with the utility.
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South Africa could lower inflation target at little cost, central bank governor says
Published: 17 Oct 24
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 than the bank's current 3% to 6% range and told Reuters in April that teams from the central bank and National Treasury were in talks about the issue. Speaking in a lecture at the University of Stellenbosch, Kganyago said reducing the target could help achieve lower inflation and interest rates, drawing on the experience of the bank stressing that it prefers to see inflation close to 4.5%, the midpoint of its target band, since 2017. "Executed effectively, a lower target could be achieved at little cost, just as we moved to 4.5% at little cost," Kganyago said. The governor cited studies that showed there had been little to no negative impact on economic growth from the bank's decision to stress its preference for 4.5% inflation, rather than treating 3% to 6% as a "zone of indifference". He said the emphasis on the 4.5% midpoint had helped lower inflation through "clear and credible communication". In April, Kganyago told Reuters that he personally hoped a decision could be taken to lower the inflation target before 2025.
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International group releases document on accessibility to air travel for disabled people
Published: 17 Oct 24
Canada-based international non-governmental organisation, the International Partners for Aviation Development (iPADIS), has released a Model Policy and Guidance on Accessibility (MPGA) for the aviation sector. This is to support the inclusion of, and improved accessibility for, people with disabilities seeking to travel by air. In many countries and societies around the world, people with disabilities encounter many challenges owing to a lack of awareness and a poor culture of inclusion. Regarding air travel, obstacles they face include a lack of access infrastructure, and a lack of harmonised regulations, procedures and practices with regard to accessibility.
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Gold rallies to record with tight US election and data in focus
Published: 17 Oct 24
Gold climbed to a record ahead of US data prints due later Thursday, with traders also monitoring an increasingly tight presidential race that’s driven demand for haven assets.
Bullion climbed as much as 0.5% to hit $2 685.74 an ounce, topping last month’s peak by a few cents. The precious metal is up about 1% since the start of the week, with investors repositioning portfolios ahead of the US election that’s less than three weeks away. With both candidates posing different risks to the economy, gold will likely see further support — no matter whether Donald Trump or Kamala Harris win.
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Iron-ore slumps toward $100 after housing briefing in Beijing
Published: 17 Oct 24
Iron-ore tumbled to a three-week low, a sign that investors doubt whether China’s latest moves to shore up the property market will do enough to boost construction activity and steel demand.
China will expand a program to support the completion of unfinished housing projects to four-trillion yuan ($562-billion), Housing Minister Ni Hong said at a briefing on Thursday. That’s nearly doubles the scale of spending as Beijing bids to ease the real-estate crisis.
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Msenge Emoyeni Wind Farm, South Africa – update
Published: 18 Oct 24
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Published: 18 Oct 24
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‘Massive boost’ for NSW critical minerals sector
Published: 18 Oct 24
The New South Wales government on Friday announced a A$250-million royalty deferral initiative for critical minerals projects and said it would...
Olympic Dam copper mine halted on power outages, severe electrical storms
Published: 18 Oct 24
Global miner BHP's Olympic Dam copper mine faces power disruptions after severe electrical storms ravaged transmission infrastructure in the...
