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Eskom says modest R9m RCA request not a signal of alignment with Nersa on calculations

Published: 17 Apr 24

The National Energy Regulator of South Africa (Nersa) has initiated consultations on Eskom’s latest Regulatory Clearing Account (RCA) application for the 2022/23 financial year, where Eskom is requesting R9-million, its lowest RCA application since the utility began making yearly submissions under the claw-back mechanism. Given that the amount is less than 2% of Eskom’s allowable revenue for the year, Nersa is not required to undertake public hearings. Nevertheless, a consultation document has been published, with virtual hearings scheduled for August 2 and 4 and a decision expected by December 2.

Namibia sees final investment decision on oil find by end 2024

Published: 17 Apr 24

Namibia will invest a big chunk of any revenue it gets from a potentially massive oil discovery into a sovereign wealth fund, and expects to learn if the find is commercially viable later this year. “We understand that the quantities are large but we still have to test the commercial viability of this oil,” Finance Minister Ipumbu Shiimi told Bloomberg in an interview Tuesday in Washington. “We expect them to reach a final investment decision probably by the end of this year.”

Impact manager Acre raises $100m for African climate infrastructure

Published: 17 Apr 24

Two former BNP Paribas bankers have raised almost $100-million for a new fund which aims to unlock billions of dollars of funding for climate-aligned infrastructure projects in Africa. Acre Impact Capital, a private-debt impact investment manager, is looking to address the estimated $100-billion annual infrastructure financing gap on the continent by providing a portion of the unsecured funding for export finance projects.

Cape Town technology enterprise incubator celebrates birthday with launch of new products

Published: 16 Apr 24

Cape Town-based ‘techpreneur’ incubation hub The Creative Lab has announced that it would mark its first anniversary with the launch of a diverse array of cutting-edge products, developed by a number of South African innovators, using the hub’s facilities. The Creative Lab is an initiative of EvansWerks. “Opening The Creative Lab was a leap of faith for my family,” highlighted EvansWerks CEO and founder Justin Eugene Evans. “Today, we’re witnessing the dividends of that investment, proving the abundance of tech talent in South Africa. They simply lacked a facility designed to bring their ideas to life.”

University of Pretoria inaugurates new immersive technology lab

Published: 16 Apr 24

The University of Pretoria’s Faculty of Engineering, Built Environment and Information Technology has launched a new immersive technology lab at the Department of Information Science as a way of further integrating advanced immersive technologies into its curriculum and research initiatives. The immersive technology lab has its roots in the early integration of virtual reality (VR) technology within the department, dating back to 2013. The acquisition of early VR headsets allowed honours students to immerse themselves in the forefront of technological innovation.

UNTD calls for more fiscal flexibility to help developing countries reach SDGs

Published: 16 Apr 24

While the global economic slowdown in 2023 was less severe than expected, intergovernmental organisation United Nations Trade and Development (UNTD) has warned that a further deceleration in global economic growth can be expected this year. UNTD secretary-general Rebeca Grynspan has called for concerted multilateral action and a balanced policy mix to safeguard the global economy amid shifting trade patterns, soaring debt and mounting costs of climate change, particularly in developing countries.

A person using candles during power cuts

Stage 16 loadshedding code seeks to reduce human error not signal imminent surge in cuts – Nersa

Published: 16 Apr 24

The National Energy Regulator of South Africa (Nersa) has belatedly moved to quell concern that its recent approval of a new loadshedding code of practice, which increases the number of potential stages from eight to 16, represented a signal that the prospect for higher levels of loadshedding was imminent. Following extensive public consultations undertaken by the National Rationalised Specifications (NRS) Association of South Africa, the third edition of the NRS048-9 standard was approved by the regulator for use by Eskom and municipal system operators during times of electricity constraint.

Calgro M3 boosts stability with Rustenburg Memorial Parks expansion

Published: 16 Apr 24

JSE-listed Calgro M3 Holdings – an entity specialising in integrated residential developments and memorial parks – is expanding its Memorial Parks division with the acquisition of a new park in Rustenburg, in the North West. The park has burial rights in place and is the sixth memorial park to be owned and managed by the company, aligning with its strategy to make dignified burial facilities accessible nationwide.

Digital Earth Africa breaks barriers to participation in space economy

Published: 16 Apr 24

The Research Institute for Innovation and Sustainability (RIIS) has been appointed as the interim host for the pan-African Digital Earth Africa Programme Management Office. Digital Earth Africa is used extensively by stakeholders throughout Africa as a free platform providing satellite imagery and products specific to the African continent. It is the world’s largest operator of open data cube (ODC) infrastructure.

PSA advises Ramaphosa to delay signing NHI Bill into law

Published: 16 Apr 24

Given the uncertainty surrounding the political landscape after the May elections, the Public Servants Association (PSA) has advised President Cyril Ramaphosa to delay the signing of the National Health Insurance (NHI) Bill. The NHI Bill was passed by the National Council of Provinces in late 2023, and sent to Ramaphosa to be signed into law.