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Eskom replaces over 400 transformers damaged by overloading
Published: 12 Jun 24
State-owned utility Eskom says that, to date, it has replaced 400 transformers damaged by network overloading since January. The entity points out that, as demand for electricity rises while temperatures fall with the onset of winter, the issue of network overloading has resurfaced in some areas owing to electricity theft.
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Families of two engineers launch petition to free them from Equatorial Guinea
Published: 12 Jun 24
The families of two South African engineers, Peter Huxham (55) and Frik Potgieter (54), who have been unlawfully held as State hostages in Equatorial Guinea since February 9, 2023, have launched an online petition, as well as a website and social media campaign to demand their urgent release. Huxham and Potgieter have been caught in the political crossfire between South Africa and Equatorial Guinea. They were arrested two days after South Africa seized the luxury super yacht belonging to Equatorial Guinea VP Teodore Nguema Obiang Mangue. South Africa had also seized his two luxury Cape Town villas in Clifton and Bishops Court.
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Kinetiko secures A$4.9m
Published: 12 Jun 24
ASX-listed Kinetiko Energy’s renounceable pro-rata entitlement offer to eligible shareholders, announced in May, closed on June 11 and raised about A$4.9-million (before costs), with strong support from major shareholders and directors. The company is developing an energy transition solution for South Africa, focused on commercialising advanced shallow conventional gas projects in the country’s Mpumalanga province.
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Benchmarking study highlights slow pace of South Africa’s grid-connection system
Published: 12 Jun 24
A new benchmarking assessment of South Africa’s electricity grid access queueing mechanisms indicates that Eskom’s systems are slower and less transparent than those being implemented in developed and developing countries analysed as part of the study. Published by the RES4Africa Foundation, the report includes case studies of the grid management frameworks being implemented in Brazil, Chile, Italy and by PJM Interconnection in the US.
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Standard Bank, MTN collaborate for new MVNO
Published: 12 Jun 24
Standard Bank is collaborating with MTN for a new mobile virtual network operator (MVNO), Standard Bank Connect, running on MTN’s network. Formerly called Standard Bank Mobile, the new Standard Bank Connect MVNO will offer a new set of data and voice packages, as part of the bank’s telecommunication strategic direction.
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Solar installations slow in South Africa after blackouts ease
Published: 12 Jun 24
Repairs to South Africa’s coal-fired stations that have helped the State power utility avoid debilitating blackouts for three months straight is giving solar installers an unintended break. Until March, Eskom had inflicted power cuts for as many as 12 hours a day due to unreliable units prone to breakdowns. The outages have crimped the economy and inconvenienced residents who have burned candles, bought batteries and — for those who can afford it — put up solar panels. But the power is back, for now. And after 77 consecutive days and counting of stable supply from Eskom, demand for such installations from the suburbs to small businesses has cooled, according to De Wet Taljaard, a technical specialist for solar energy at the South African Photovoltaic Industry Association. “Based on anecdotal evidence and if you look at the stats that are available, it does appear as if there has been a significant drop in the capacity that has been installed recently,” he said. Average monthly capacity additions from February to April this year dropped to 26 megawatts from 97 megawatts during the same period in 2023, Taljaard said, citing Eskom data.
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Transnet claims World Bank container port index contains ‘factual errors’
Published: 12 Jun 24
South Africa’s Transnet claims the World Bank’s 2023 Container Port Performance Index (CPPI) – in which South Africa’s ports rank dismally overall and the Port of Cape Town came in at the bottom of the 405 ports listed – contains “factual errors” that it had no opportunity to contest or correct. In a statement, Transnet reports it has already met with World Bank representatives to raise its concerns about both the data, derived from Automatic Identification System and liner shipping data, and the methodology employed to compile the index.
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CDE suggests new administration should shrink, streamline Cabinet
Published: 12 Jun 24
A significant reduction in the number of Cabinet Ministers and a fundamental overhaul of the Presidency are important steps towards fixing South Africa’s weak State, says policy research organisation Centre for Development and Enterprise (CDE) executive director Ann Bernstein. Smaller Cabinets tend to be more agile, more collegial and more accountable, she adds, noting that Cabinet processes would be greatly strengthened by a far more rigorous process of priority-setting, so that government focuses on doing fewer things well.
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PPC to report higher full-year earnings as Zimbabwe operations improve
Published: 12 Jun 24
JSE-listed cement company PPC has informed shareholders that it expects to report increases in its earnings per share (EPS) and headline earnings per share (HEPS) of at least 20% year-on-year for the financial year ended March 31. The company on June 12 attributed the expected increases in EPS and HEPS to a strong performance by PPC Zimbabwe in the financial year under review, compared with a poorer performance in the 2023 financial year on the back of an extended kiln shutdown.
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