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Youth empowered through manufacturer’s YES commitment
Published: 14 Jun 24
Automotive manufacturer BMW Group South Africa onboarded its 2024 cohort at BMW Group Plant Rosslyn Training Academy on May 7, marking its ongoing commitment to the Youth Employment Service (YES) Programme, an initiative aimed at addressing youth unemployment. During the event, BMW Group South Africa CEO Peter van Binsbergen expressed his pride in the YES Programme students, as they showed that young people “hold the key to great innovation”.
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Mining production rose by a modest 0.7% y/y in April
Published: 13 Jun 24
Mining production rose by a modest 0.7% in April, after declining by -4.8% year-on-year – revised from -5.8% year-on-year – in March, data published by Statistics South Africa (Stats SA) shows. Commenting on the statistics, Investec economist Lara Hodes says output was weaker than consensus expectations of a 1.1% year-on-year increase in production.
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South Africa preparing to pilot independent transmission projects to bolster grid’s renewables capacity
Published: 13 Jun 24
The National Treasury has confirmed that South Africa is moving to pilot a model that will enable the private sector to participate directly in the development and operation of transmission grid infrastructure, drawing lessons from the country’s experience in procuring generation capacity from independent power producers (IPPs). Deputy director-general Mmakgoshi Lekhethe reports that the model, which has been mooted by Electricity Minister Kgosientsho Ramokgopa for some time, is receiving priority attention in light of the scale of the investment required to unlock grid capacity for new renewables investment,
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Sustainability reports highlights Osino’s investment in jobs, Namibia’s economy
Published: 13 Jun 24
TSX-listed Osino Resources’ Twin Hills gold project, located near Karibib in Namibia, is on track to create about 1 000 new jobs in the region, the company’s third annual sustainability report shows. The report summarises the company’s social, environmental and economic performance for the year 2023 and outlines plans for the ongoing integration of sustainability into the design of Twin Hills.
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Ramaphosa key to dealing with ‘off-the-charts’ South Africa risk
Published: 13 Jun 24
President Cyril Ramaphosa is key to handling political risk that’s “off the charts” in the nation after a vote last month failed to hand any party a majority, Standard Bank’s chairperson said. The African National Congress (ANC), which has ruled the country since the end of apartheid in 1994, lost its parliamentary majority in May 29 elections, haemorrhaging support to former President Jacob Zuma’s new group. Political parties have less than a day to cobble together a power-sharing agreement before the nation’s parliament convenes Friday.
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