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$2.2bn pledged to support clean-cooking access in Africa

Published: 14 May 24

Pledges worth $2.2-billion to support clean-cooking access in Africa were made at a summit in France on Tuesday, convened by the International Energy Agency (IEA). It is estimated that more than one-billion people in Africa currently lack access to clean-cooking solutions and instead cook over open fires and basic stoves, using charcoal, wood, agricultural waste, and animal dung as fuel.

Equites reports sustained growth in rentals market

Published: 14 May 24

Real estate investment trust Equites Property Fund has reported sustained growth in its rental portfolio over the past few years and expects this trend to continue. In its results presentation for the 2024 financial year, where the company highlighted a dividend a share of R1.31 at a 100% payout ratio, in line with market guidance, Equites CEO Andrea Taverna-Turisan said like-for-like rental growth in South Africa for the period was 6.4%.

Mining production, sales drop in March

Published: 14 May 24

Mining production decreased by 5.8% year-on-year in March, Statistics South (Stats SA) reports. The largest negative contributors were coal (-9.1% and contributing -2.3 percentage points); manganese ore (-12.2% and contributing -1 percentage point); iron-ore (-6.8% and contributing -0.9 of a percentage point); and platinum group metals (PGMs) (-3.6% and contributing -0.9 of a percentage point).

Dipula reports improved metrics, hones in on solar

Published: 14 May 24

JSE-listed real estate investment trust Dipula Income Fund has reported improved operational and financial metrics, as well as strategic gains in a period that marked the first phase of its new solar PV initiative roll-out for the six months ended February 29. Dipula’s revenue grew by 9% and its net property income by 6%, which the company says highlights efficient operations supported by rental growth.

Organisations call ‘rushed’ NHI Bill an electioneering ploy

Published: 14 May 24

Business Leadership South Africa (BLSA) has again expressed concern about the National Health Insurance (NHI) Bill on the eve of its planned promulgation by President Cyril Ramaphosa’s. Signing the NHI as is into law will discount the significant public comment having been made on the proposed Bill, most of which has found the NHI to be unworkable, economically damaging and contrary to the precepts of the South African Constitution.

Many households in informal settlements remain unelectrified

Salga energy head calls for post-election review of free basic electricity scheme

Published: 14 May 24

The head of energy at the South African Local Government Association (Salga) has called for a review of both the size of the free basic electricity (FBE) allocation as well as the way the grant is assigned, arguing that many indigent households are currently not benefiting from the scheme as intended. Speaking during a roundtable discussion on South Africa’s electrification programme as part of government’s ongoing activities to mark 30 years of democracy, Nhlanhla Ngidi described the current monthly allocation of 50 kWh as “minute” and well below the 300 kWh to 400 kWh that poor households were typically consuming.

LDV to launch bakkie, SUV, MPV and panel van ranges in SA

Published: 14 May 24

Chinese car maker LDV has confirmed that its full range of passenger and commercial vehicles have been given the go-ahead for introduction in the South African market. The company is part of the SAIC automotive group.

The Mandela Peace Prize coin placed underneath the keel

Construction of new TNPA multipurpose vessel kicks off

Published: 14 May 24

A keel-laying ceremony has marked the beginning of construction of a new multipurpose vessel that will increase the marine fleet availability for Transnet National Ports Authority (TNPA) in Cape Town. As the first milestone in the history of a ship, the keel-laying ceremony marks the laying of the large beam around which the hull of the ship will be built.

An image of Octodec's HealthConnect building

Octodec grows interim retail income despite challenging conditions

Published: 14 May 24

JSE-listed real estate investment trust Octodec Investments achieved income growth of 3.1% for the six months ended February 29, largely driven by higher rentals in its residential portfolio. Rental income for the period was just over R1-billion, compared with R974.2-million in the first half of the 2023 financial year.

UK creating regulatory framework for nuclear fusion plants – simpler, easier, than for fission

Published: 14 May 24

The UK Government has initiated the consultation process for its proposed policy to regulate the siting of commercial nuclear fusion reactors in England. (Siting policies for Scotland, Wales and Northern Ireland are the responsibility for their respective devolved regional governments.) The UK Department for Energy Security & Net Zero has done so by publishing a document, 'Consultation on a new National Policy Statement for Fusion Energy – The proposed approach to siting fusion energy facilities'. This follows the passing, by the UK Parliament last year, of the world’s first legislation (the Energy Act) to regulate commercial nuclear fusion power plants. These steps reflect the rapid scientific, technological and engineering progress now being made in the field of nuclear fusion.