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South Africa aims to set up three JET-aligned skills development zones

Published: 24 Apr 24

Three Just Energy Transition (JET) skills development zones focusing on renewables and grids, electric vehicles and green hydrogen value chains are proposed for implementation under the larger JET Investment Plan (JET-IP), for which pledges of $11.5-billion have been made by several developed countries. The zones will be anchored to specific educational institutions, most likely technical and vocational education and training (TVET) colleges selected for their proximity to the priority sectors, where education and training will be tailored towards a specific JET focus and where catalytic interventions will be undertaken and partnerships with business developed.

Changing business opportunities, challenges in Zimbabwe highlighted

Published: 24 Apr 24

Zimbabwe is undergoing change and aims to attract more companies to do business in the country, but risks and challenges remain for businesses aiming to capitalise on the opportunities in the country. These were some of the views raised by Zimbabwean and international representatives during an information session on 'Doing business in Zimbabwe' hosted by the Southern African-German Chamber of Commerce and Industry this week.

PepsiCo Bašumi Trust wins awards at employee share ownership conference

Published: 24 Apr 24

Beverage multinational PepsiCo South Africa's employee share ownership programme Bašumi Trust has received the best governance policies and the most innovative funding model awards at the Department of Trade, Industry and Competition's Worker Share Ownership Conference on April 23. The best governance policies award recognises the Trust for demonstrating the most effective and transparent governance practices in selection of trustees, empowering workers, and promoting worker participation at the highest levels of decisionmaking.

Debt transparency needed as opaque resource-backed loans hinder African development – Adesina

Published: 24 Apr 24

African countries will pay $74-billion in debt service payments this year, which is a sharp increase from $17-billion in 2010, and the continent's economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth. "It is time to have accountability for debt transparency and ensure that opaque natural resource-backed loans end, because they complicate the debt issue and the debt resolution issue," said development finance institution African Development Bank (AfDB) president Akinwumi Adesina.

Flanagan & Gerard, Vukile acquire Mthatha shopping centre for R800m

Published: 24 Apr 24

Retail property specialist company Flanagan & Gerard Property Group and JSE-listed real estate investment trust Vukile Property Fund have jointly acquired the BT Ngebs City regional shopping centre, in Mthatha, for R800-million and each will hold an equal share. The companies will also undertake major refurbishment at the centre to improve the overall retail experience for customers.

First Quantum says probability of taking out copper from Panama mine only after election

Published: 24 Apr 24

Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121 000 t of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum's Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year.

Armadale sets out to earn a majority stake in US silver asset

Published: 24 Apr 24

Aim-listed investment company Armadale Capital, which holds mine investments in Africa, has entered into an agreement to earn a 50% interest in Africo American Incorporated (AAI), the holding company of the Canyon Silver lead/zinc/silver exploration asset, in Idaho, in the US. Armadale has an option to acquire an initial 25% interest in AAI through the purchase of new shares for $500 000 in cash before December 31.

Outa demands information on Sanral, Ceta tenders

Published: 24 Apr 24

Nonprofit watchdog the Organisation Undoing Tax Abuse (Outa) has accused the South African National Roads Agency Limited (Sanral) and the Construction Education and Training Authority (Ceta) of keeping contracts with questionable companies secret, which it says is in line with a government culture of blocking the public from accessing information. Outa has filed complaints against Sanral and Ceta over the entities’ refusal to provide Outa with information requested in terms of the Promotion of ...

First Quantum navigates Zambia power crisis through imports, renewable projects

Published: 24 Apr 24

In response to Zambia's recent declaration of a national emergency owing to a severe drought affecting power generation, copper miner First Quantum Minerals is taking measures to ensure the continuity of its operations. Power utility Zesco has introduced daily eight-hour loadshedding for its retail customers and initiated consultations with mining companies to reduce power supply to the sector by 150 MW from May 1 to December 31. First Quantum’s operations are expected to have power curtailed by about 80 MW over this period.

TNPA issues RfP for Cape Town port liquid bulk terminal

Published: 24 Apr 24

State-owned Transnet National Ports Authority (TNPA) has issued a request for proposals (RfP) for the appointment of a terminal operator to acquire, operate, maintain, refurbish or build and transfer a liquid bulk terminal over a 25-year concession period at the Port of Cape Town. “The liquid bulk precinct in the Port of Cape Town enables the efficient movement of liquefied cargo across South Africa and beyond, facilitating international trade and ensuring security of supply,” says TNPA Port of Cape Town acting port manager Ophelia Shabane.