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AFC-led consortium financing large-scale road infrastructure development in Angola
Published: 10 May 24
The Africa Finance Corporation (AFC) announced on Friday the signing of a €381.5-million financing package for road transport infrastructure development in Angola. The AFC, founded in 2007, serves to catalyse private sector-led infrastructure development across Africa. This latest financing package will fund the engineering, procurement and building of 186 bridges for, plus other essential enhancements to, Angola’s road network. The AFC was mandated to be the lead investor for the commercial tranche of the package, and has committed itself to contribute €85-million to the total. Export credit financing for the construction programme is being provided by the US Export-Import Bank and the US Private Export Funding Corporation. The key role of coordinating and structuring bank is being fulfilled by Standard Chartered Bank.
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South Africa avoids technical recession despite challenges – Deloitte
Published: 10 May 24
With unemployment, loadshedding and a weak economy being front-line issues in the upcoming elections, the incoming administration must drive investment and reform to restart growth, build confidence and help South Africa’s economy meet its potential, says advisory firm Deloitte. In its May 2024 edition of the South African Economic Outlook, Deloitte notes that, despite recording the worst year of loadshedding so far in 2023, South Africa managed to avoid a technical recession, with real GDP growth at 0.6% last year.
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ATNS, CSIR making important progress in their joint passive radar project
Published: 10 May 24
South Africa’s national air traffic control (ATC) agency, Air Traffic and Navigation Services (ATNS), and the Council for Scientific and Industrial Research (CSIR), have started joint measurement and surveying activities at the Kruger Mpumalanga International Airport (KMIA) for the installation and test of a locally-developed passive radar system. This joint project is the outcome of a Memorandum of Understanding (MoU) originally signed between the two agencies in 2017 and renewed last year. ...
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Fantastic advance by Proudly South African manganese battery metal first-mover
 Published: 10 May 24
Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also provides time for this remarkable value-adding company to become a manganese-ore-to-sulphate producer from its current position of being the producer of the world’s purest 99.9% pure manganese metal from manganese fines.
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Fantastic advance by Proudly South African manganese battery metal first-mover
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Nersa approves Sasol Gas’ price application
Published: 10 May 24
The National Energy Regulator of South Africa (Nersa) on April 29 approved Sasol Gas’ application for a maximum price of gas for the period July 1, this year, to June 30, 2025. This results in the maximum price of gas being R84/GJ for end-user customers from July 1 to September 30.
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Drakenstein municipality completes audit, resets prepaid electricity meters
Published: 10 May 24
Drakenstein municipality, covering Paarl, Wellington, Mbekweni, Gouda, Saron, Hermon and Simondium, in the Western Cape, has completed the formal auditing process of prepaid electricity meters of municipal customers in Drakenstein. There are now only a few meters outstanding in the area which the municipality says it has soft-locked as its meter auditors could not access these homes. Most of these homeowners live abroad and the municipality will assist them when they return to the country.
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George building collapse death toll rises to 12
Published: 10 May 24
The George municipality has confirmed that three more bodies have been retrieved from the site of a collapsed building, taking the death toll to 12. Eighty-one people were on-site at the time of the building's collapse on Monday afternoon. By Friday, 41 people were still unaccounted for. Thirteen people remain in hospital. Search and rescue effort are continuing.
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South Africa may curb Shell’s oil exploration over gas-pump exit
Published: 10 May 24
South Africa’s energy ministry signaled it may grant fewer oil exploration permits to Shell over the company’s plans to exit the nation’s fuel-supply business. The oil major is selling its shareholding in Shell Downstream South Africa, which includes a network of 600 gas stations across the country, following a review of its business across regions and markets. Mineral Resources and Energy Minister Gwede Mantashe said he’s requested a meeting with Shell officials to discuss the matter.
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Michelin research shows how transporters can reduce total cost of ownership
Published: 10 May 24
Tyre manufacturer Michelin has launched its latest research focused on total cost of ownership, which is aimed at shifting the mindsets of South African transporters to run more efficient and sustainable fleets. The ‘2023 Decarbonising South Africa’s Transport Sector’ outlines that transport is the third-largest emitting sector in South Africa, with almost 55-million tonnes of CO2 emissions, contributing more than 10% to the country's national gross emissions.
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Hard disk drive demand rebound holds opportunities for platinum – council
Published: 10 May 24
The market for hard disk drives (HDDs) is showing signs of a rebound after almost two years of decline, as the rapid growth in machine learning and AI are driving the need for expanded data storage, industry organisation the World Platinum Investment Council (WPIC) points out, also highlighting the relevance of this for the platinum industry. According to Forbes, total HDD unit shipments in the last quarter of 2023 were up just under 1%, marking a turnaround in HDD demand, which had been in quarterly decline since the first quarter of 2022, the council says.
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Akkuyu nuclear power plant project, Türkiye – update
Published: 10 May 24
AMSA renewable-energy project, South Africa – update
Published: 10 May 24
Spherical Tokamak for Energy Production, UK – update
Published: 10 May 24
JSE-listed Vodacom Group on Monday posted double-digit increases in revenue, however, its earnings a share for the year ended March 31, 2024,...
