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Cape Town’s V&A Waterfront is pioneering the integration of small, low-noise vertical-axis wind turbines into its green electricity supply mix, following the installation of four 1-kW units within the mixed-use property’s Silo District and another 3-kW turbine near to the complex’s Breakwater parking. The LS Double Helix turbines have been sourced from LuvSide, of Germany, which has in parallel established LuvSide South Africa in partnership with Energy Systems Africa to pursue new market opportunities for its vertical- and horizontal-axis solutions.

South Africa’s post-election wrangling leaves investors in limbo

Published: 03 Jun 24

Investors braced for further upheaval in South Africa’s financial markets in the wake of last week’s elections that produced no outright winner, with the outcome of ongoing coalition talks remaining highly uncertain. The African National Congress fell short of a parliamentary majority for the first time since it took power three decades ago, as its supporters voiced their anger about endemic poverty, unemployment and crime by boycotting the polls or backing its rivals. It won 40.2% of the votes cast on May 29, results released by late Sunday showed. The centrist Democratic Alliance garnered 21.8% support, former President Jacob Zuma’s new uMkhonto weSizwe Party, or MKP, 14.6% and the leftist Economic Freedom Fighters 9.5%. The latter parties both favour increased state spending and the nationalization of mines and the central bank, and the prospects of them joining the government and demanding populist policy changes is weighing on South Africa’s currency and debt. “Investors should be very worried because South Africa is at a fork in the road,” said Anne Frühauf, the managing director of risk adviser Teneo. “Right now, almost any coalition outcome is possible.”

JSE-listed information technology services company EOH has appointed Marius de la Rey as interim CEO, Veronica Motloutsi as an independent nonexecutive director, and Dennis Venter and Rhys Summerton as non-independent nonexecutive directors, effective from May 30. This comes after EOH chairperson, interim CEO and director Andrew Mthembu resigned. Fatima Newman stepped down as a director but will remain as EasyHQ CE. Bharti Harie resigned as independent non-executive director.

Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur exploration of its copper deposits long shunned by prospectors due to restrictions and red tape. Authorities have identified a vast region in the Andes Mountains — about the size of New Jersey — where they plan to expedite environmental permits with blanket authorization to unlock copper projects and tap a booming market of the metal needed for the global push toward electrification.

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