Eskom to be split into three entities, Ramaphosa announces

President Cyril Ramaphosa on Thursday announced Eskom would be split into three separate entities as part of new business model the cash-strapped electricity utility would need to develop.

Speaking during the state of the nation address (Sona), Ramaphosa acknowledged Eskom was in crisis and posed a significant risk to the South African economy, requiring bold decisions that would not affect the country's sovereign rating.

Eskom to be split into three entities, Ramaphosa announces
Eskom to be split into three entities, Ramaphosa announces

Eskom to be split into three entities, Ramaphosa announces

President Cyril Ramaphosa on Thursday announced Eskom would be split into three separate entities as part of new business model the cash-strapped electricity utility would need to develop.

SA to benefit from $10bn investment in African tech sector

SA to benefit from $10bn investment in African tech sector

SA is set to be one of the beneficiaries of more than $10 billion (R136 billion) earmarked to be invested in Africa’s telecoms, media and technology (TMT) infrastructure by the global community.
Twitter profit soars as user base shrinks

Twitter profit soars as user base shrinks

Twitter on Thursday reported a sharp rise in quarterly profits, lifted by gains in advertising, but its shares took a hit on a declining user base and a move to a new audience measure.
SMEs urge Ramaphosa to prioritise, fund the sector more

SMEs urge Ramaphosa to prioritise, fund the sector more

The tourism industry’s performance has apparently been on the decline, prompting them to ask for funding as well.
Collaboration between Transnet and Botswana Railways to unlock coal reserves

Collaboration between Transnet and Botswana Railways to unlock coal reserves

Another project in support of this programme is the upgrade of the electrical infrastructure on the coal heavy-haul system.
Facebook limited in how it can collect data in Germany

Facebook limited in how it can collect data in Germany

Users must in future be asked for their specific consent before data is collected from subsidiaries like Whatsapp and Instagram.
Mantashe hails Total’s discovery of gas as major boost for SA economy

Mantashe hails Total’s discovery of gas as major boost for SA economy

The minister says it is a good thing that new bill to separate oil and gas from the mining legislation is in the process of being developed.
Business people ‘quite pleased’ with Ramaphosa’s work, diplomat tells Maimane

Business people ‘quite pleased’ with Ramaphosa’s work, diplomat tells Maimane

The DA’s alternative state of the nation address seems to have failed to impress the ANC’s head of elections, who said it was ‘a big flop’.
Annual Mining Indaba wraps up on Thursday

Annual Mining Indaba wraps up on Thursday

The week’s conference coincided with the commemoration of the presumed death of three workers at Lily Mine.
CEO of Woolworths Australian subsidiary David Jones resigns

CEO of Woolworths Australian subsidiary David Jones resigns

A replacement for Thomas would be announced in due course, and group CEO Ian Moir will work with management in the interim.
No growth at Transnet ‘despite investments over years’

No growth at Transnet ‘despite investments over years’

Transnet acting CEO Tau Morwe told the mining indaba the group was dealing with corruption and past issues that emanated from state capture.
Not enough being done to attract investment in SA mining industry, says analyst

Not enough being done to attract investment in SA mining industry, says analyst

The analyst claims there are far better mining opportunities elsewhere in the world.
Industry welcomes Ramaphosa’s assurances on enabling environment

Industry welcomes Ramaphosa’s assurances on enabling environment

The Minerals Council also welcomes the government’s commitment to addressing infrastructure constraints that limit mining and processing.
SA business confidence flat amid little real economic progress – Sacci

SA business confidence flat amid little real economic progress – Sacci

The chamber movement says that investor confidence remains the panacea to higher growth in 2019 and beyond.
Skill levels a big concern for SA’s economic growth – business seminar hears

Skill levels a big concern for SA’s economic growth – business seminar hears

The country needed to suitably equip its young population to find jobs, says Prof. André Roux.
Sappi says business shows resilience in difficult climate

Sappi says business shows resilience in difficult climate

‘Profitability was in line with our guidance at the end of the 2018 financial year,’ says COO.
African mining shows steady progress in an uncertain world – Standard Bank

African mining shows steady progress in an uncertain world – Standard Bank

Despite escalating trade wars keeping commodity prices in check, as well as regulatory challenges across Africa generally, the mining sector is likely to offer a real opportunity for expansion in 2019, said Standard Bank on Wednesday. It said over the last 18 months, the focus in the mining sector had been on debt reduction and […]
Greenpeace sees red over Eskom request to keep poisoning our air

Greenpeace sees red over Eskom request to keep poisoning our air

The utility continues to make us breathe noxious gases by the ton without needing to comply with minimum emission standards.
African development will be driven by investment, not aid – AfDB

African development will be driven by investment, not aid – AfDB

‘We need to industrialise Africa and improve the quality of life for its people,’ says company president.
Standard Chartered pleads guilty in New York to manipulating rand

Standard Chartered pleads guilty in New York to manipulating rand

The Competition Commission has said that Standard Chartered Bank has pleaded guilty to currency manipulation, including of the South African rand, citing a consent agreement between Standard Chartered Bank and the New York State Department of Financial Services.
SA seeks innovation as declining mines add to job crisis

SA seeks innovation as declining mines add to job crisis

Much of South Africa’s wealth is built on its mines, but the sector is shedding jobs fast — setting the government a tough task to tackle record national unemployment ahead of this year’s election.
Competition Commission won’t prosecute MultiChoice, Supersport

Competition Commission won’t prosecute MultiChoice, Supersport

The commission said it received various complaints of abuse of dominance against MultiChoice and Supersport between 2012 and 2017.
Ramaphosa reassures investors again on land expropriation without compensation

Ramaphosa reassures investors again on land expropriation without compensation

Investors need not fear that their investments and assets will be taken away from them, the president has said.
Emerging economies catching up in smartphone adoption: survey

Emerging economies catching up in smartphone adoption: survey

Smartphone use has become the norm in most developed nations, while many emerging economies are showing sharp gains, a global survey showed Tuesday.
Eskom is too big to fail, says Ramaphosa

Eskom is too big to fail, says Ramaphosa

The president is expected to announce the power utility’s turnaround strategy on Thursday.
Ramaphosa sweet-talks mining bosses in Cape Town

Ramaphosa sweet-talks mining bosses in Cape Town

The president says the days of conflict between government and the industry are now over.

 

 

 

 

 

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