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South Africa considers complaining to WTO against EU carbon border tax

Published: 22 May 24

South Africa is considering lodging a formal complaint at the World Trade Organization against the European Union's "protectionist" carbon border levy, Trade Minister Ebrahim Patel said on Wednesday. The EU's proposed carbon border adjustment mechanism (CBAM), which will impose charges on imports of carbon-intensive goods like steel and cement into Europe, has faced criticism from some developing nations and sectors including China's steel industry.

Eskom’s has applied for permission to reserve scarce grid capacity for IPPs participating in public procurement bidding rounds

Presidency insists 22.5 GW private IPP pipeline won’t be disrupted by Eskom move to reserve grid for public projects

Published: 22 May 24

The Presidency does not anticipate that Eskom’s move to reserve scarce grid capacity for independent power producers (IPPs) participating in public procurement bidding rounds will disrupt the more than 130 private IPP projects being advanced outside of those processes to supply private consumers. Speaking during a briefing convened to report back on the reforms implemented under Operation Vulindlela, including those undertaken to address South Africa’s loadshedding crisis, the Presidency’s project management unit head Rudi Dicks lauded the progress being made through the Energy One Stop Shop to support the private projects stimulated by the reform to allow grid-connected private projects of any size to proceed without a licence.

Fortescue excluded from world’s biggest hydropower plant development

Published: 22 May 24

A company owned by Australian mining billionaire Andrew Forrest will no longer develop the world’s biggest hydropower project in Democratic Republic of Congo, according to President Felix Tshisekedi’s office, which has replaced the firm with a Nigerian oil producer. Natural Oilfield Services signed a preliminary deal with Congo on May 9 to build a smaller version of Fortescue's proposed Grand Inga project, which would have generated around 40 GW of hydropower.

As municipal debt programme falters, Eskom CFO calls for mechanism to ensure the utility gets paid

Published: 22 May 24

Municipal debt remains one of Eskom’s biggest challenges, says Eskom CFO Calib Cassim. “At the end of March, we were sitting at around R75-billion of municipal arrears owing to us. That has grown in the last financial year in the region of R15-billion.

UN agency has launched a report on green business and financing in Africa

Published: 22 May 24

Africa has major opportunities for green economic development and could become a world-leader in it, UN Development Programme (UNDP) Regional Service Centre for Africa director Dr Matthias Naab highlighted at the Enlit Africa 2024 conference, in Cape Town, on Wednesday. He was launching the UNDP’s 'Africa Green Business and Financing' report, at the International Convention Centre. Africa contained 30 of the world’s 40 most climate-vulnerable countries, he pointed out. And global climate programmes were falling short of their targets.

South African member committee of World Energy Council launched

Published: 22 May 24

A South African member committee of the World Energy Council (WEC) has been launched under the aegis of the Energy Council of South Africa. The member committee is made up of ten high-level energy practitioners drawn from the public and private sectors, namely:

South Africa must diversify into high-value exports, connect to region to boost growth

Published: 22 May 24

For South Africa to achieve economic growth that leads to improved wellbeing for its citizens, it needs to convert the primary commodities it produces into high-value exports and develop a stronger relative comparative advantage in more competitive goods than only basic metals. Further, the country needs to connect to the continent and the range of opportunities through the African Continental Free Trade Area. Intra-African regional trade is low, and South Africa has a strong economy that can generate synergies that can contribute to strong regional growth.

Falling EV sales are upending banker climate strategies

Published: 22 May 24

Electric vehicles (EVs) have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the energy transition. It also has ramifications for the many financial institutions that have pledged to decarbonize the loans and investments they make.

Daimler Truck Southern Africa's Mercedes-Benz eActros electric heavy commercial truck

Daimler Truck Southern Africa launches electric heavy-duty truck range

Published: 22 May 24

Original-equipment manufacturer (OEM) Daimler Truck Southern Africa (DTSA) has launched a line of electric heavy-duty trucks, called eActros, as part of its Power Up electric mobility offering. The fully battery-electric truck range includes the Mercedes-Benz eActros 300, comprising 4 x 2 and 6 x 2 wheelbase configurations, the Mercedes-Benz eActros 400 in a 6 x 2 wheelbase configuration, as well as a truck tractor variant.

Westwell to retire as Sasol chairperson

Published: 22 May 24

Stephen Westwell will, on June 1, retire as nonexectutive director and chairperson of chemicals and energy group Sasol, after having served on the board for 12 years. Lead independent director Muriel Dube will take up the position of acting chairperson until a full-time successor is appointed.