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Sacci records dip in BCI over April, May as elections unfolded

Published: 11 Jun 24

The South African Chamber of Commerce and Industry (Sacci) says the lead up to the national and provincial elections on May 29 had a notable effect on business confidence during April and May, with the Business Confidence Index (BCI) having dropped by 5.8 points in April to 108.9 and further to 107.8 in May. The recovery of the 6.9-point decrease over the two months will largely depend on the formation of a new government.

Weak economy weighed on construction in the first quarter – ACI

Published: 11 Jun 24

The Afrimat Construction Index (ACI) declined to a level of 103.7 in the first quarter of this year, down from 117.3 in the fourth quarter of 2023 and 105 in the first quarter of 2023. Economist Dr Roelof Botha, who compiles the ACI on behalf of JSE-listed mid-tier mining and materials company Afrimat, says the country's weak economic growth in the first quarter was evident in the construction sector, with eight of the ten constituent indicators of the ACI having recorded year-on year declines, and the ACI growth rate having slipped below zero.

Natural disasters emerge as top risk consideration for professionals in construction, property

Published: 11 Jun 24

Thirty-eight percent of 3 000 risk management professionals and business leaders agree that natural catastrophes, fire and explosion risks are emerging as primary concerns in the engineering, construction and real estate industries. According to Allianz Risk Barometer, respondents to its survey said natural disaster risks were followed by business interruption, macroeconomic developments and cyber-incidents as concerns with 28%, 21% and 19% of respondents citing as such, respectively.

Volkswagen, Isuzu pour cold water on South Africa’s EV ambitions

Published: 11 Jun 24

Volkswagen and Isuzu Motors have expressed skepticism about South Africa’s plans to develop electric and hydrogen-powered vehicle industries. While the government in February announced that automakers will be allowed to claim a 150% tax deduction on investment in facilities to make the vehicles, the local heads of both companies said they’ll stay focused on internal combustion engine vehicles.

Accreditation Day underlines importance of the SANAS

Published: 11 Jun 24

In the current environment of fast-paced technological advancement, accreditation can enable organisations to embrace new technologies and drive innovation, as it provides a framework of trust and reliability. This was highlighted by speakers during the South African National Accreditation System’s (SANAS') 2024 World Accreditation Day breakfast, held in Centurion on June 10, under the theme “Empowering Tomorrow and Shaping the Future”.

Eskom arrests suspected coal-swapping thief

Published: 11 Jun 24

State-owned power utility Eskom says the security investigation team at its Arnot power station has arrested a truck driver, who is suspected of having participated in the swapping out of coal destined for the power station with lower-quality product. On June 8, a tactical team spotted a truck loaded with coal to be delivered to Arnot entering a coal yard in Middelburg and then leaving after about an hour.

Transmission lines, solar panels and wind turbines

Eskom seeks executive to lead renewables division

Published: 10 Jun 24

South Africa’s Eskom Holdings is looking for a manager to lead its clean energy projects even as the utility extends the use of coal plants to mitigate nationwide electricity shortages. The group executive will be “responsible for leading and overseeing the renewable energy initiatives within Eskom” as well as driving its Just Energy Transition Strategy to move away from coal, the company said in an advertisement in the Johannesburg-based Business Day newspaper. The person will act as the primary liaison for such projects and oversee their planning.

Civil society coalition emphasises need for accountability, transparency, equity to achieve a ‘fair’ just transition

Published: 10 Jun 24

A coalition of civil society organisations from Indonesia, Senegal, South Africa and Vietnam on June 10 launched their ‘Principles for a Fair Just Energy Transition Partnership (JETP)’, which emphasises the integral need for accountability, transparency and equity in climate finance. International renewable energy advocacy organisation 350.org said the guiding principles were identified with the input of Global South communities.

Hive Hydrogen investment propels more economic opportunities in Gqeberha

Published: 10 Jun 24

Energy company Hive Hydrogen’s incoming R105-billion green ammonia plant in the Coega Industrial Development Zone, in Gqeberha, will create major opportunities for green industrial development and economic diversification in Nelson Mandela Bay. Nelson Mandela Bay Business Chamber (NMBBC) as an active facilitator of economic growth in the bay, is positioning itself to unlock all emerging opportunities as a result of Hive Hydrogen’s investment, as well as other companies' investments, including that of automotive majors Volkswagen South Africa and Stellantis.

AAD expected to yield significant economic, educational value once again

Published: 10 Jun 24

Speaking at a preliminary event marking 100 days until the next Africa Aerospace and Defence (AAD) trade exhibition and airshow, which will take place from September 18 to 22, Defence and Military Veterans Minister Thandi Modise has highlighted the economic and educational impact of the biennial event. “The economic impact of the AAD on South Africa is substantial. In 2022, international visitors contributed over R135-million to our GDP, while public and trade visitors generated R150-million in revenue.