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An image of BMW Group executives, including BMW Group CEO Peter van Binsbergen, at the BMW Group Plant Rosslyn Training Academy onboarding event 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”.
Power lines South Africa preparing to pilot independent transmission projects to bolster grid’s renewables capacity Has PDF
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,
President Cyril Ramaphosa 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.
The 1 MW solar PV plant at the GWK maize mill GWK's Christiana maize mill gets 1 MW solar PV system
Published: 13 Jun 24
Independent power producer Decentral Energy has commissioned a 1 MW solar PV system at food producer GWK's Farm Foods Christiana maize mill. The ground-mounted, grid-tied solar PV system, which was designed and constructed by engineering, procurement and construction contractor Energy Gurus, will significantly reduce GWK Farm Foods Christiana maize mill's reliance on traditional grid power and contribute to the company's sustainability and energy security goals.
NDCs, long-term strategies should include roadmap for fossil fuel producers – IISD
Published: 13 Jun 24
Analysis by policy think tank the International Institute for Sustainable Development (IISD) showed that seven of the 20 largest fossil fuel producing countries make no mention of fossil fuel production in their nationally determined contributions (NDCs) and six others stated an intention to continue or increase production. “In a world that has agreed to transition away from fossil fuels, producers that keep mining and drilling are vulnerable to market shocks. NDCs and long-term strategies can be used to guide an orderly transition and attract investment into alternative growth sectors,” IISD policy adviser Paola Yanguas Parra.
Image of Cape Town Cape Town releases more land for affordable housing under new housing strategy
Published: 13 Jun 24
With national government slashing Cape Town’s housing grants by R107-million this financial year, the city has been forced to change its housing strategy, says Mayor Geordin Hill-Lewis. Cape Town is now positioning itself as an enabler for much more private sector-led affordable housing delivery, including the release of discounted land for social housing, while also ramping up support for micro-developers in townships.
Image of the MBSA plant in East London Mercedes-Benz SA considers cutting 700 jobs on back of struggling economy, ports
Published: 13 Jun 24
Mercedes-Benz South Africa (MBSA) says it will move from three shifts a day at its East London plant to two shifts, in a move that could potentially cut 700 jobs. MBSA assembles the C-Class for the local and export markets, with more than 90% of production exported. Production reached just over 88 000 units last year.
Pape Fund expands its investment in Entersekt
Published: 13 Jun 24
Private equity fund Pape Fund 3 has expanded its investment in fraud prevention and payment security company Entersekt, buying out financial services firm Nedbank Private Equity’s equity stake. Pape Fund 3 had initially invested in Entersekt International in July 2022.
Krugerrand Demand for Krugerrands up as consumers diversify
Published: 13 Jun 24
Financial institution First National Bank (FNB) says it has seen strong demand from clients buying Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their investment portfolios. Over the past year, FNB assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms.
Image of Water and Sanitation Minister Senzo Mchunu DWS launches four more catchment management agencies
Published: 13 Jun 24
The Department of Water and Sanitation (DWS) has officially launched four more Catchment Management Agencies (CMAs), adding to the two CMAs that have already been in existence for more than 10 years. These are the Limpopo-Olifants, Vaal-Orange, Pongola-Umzimkulu and the Mzimvubu-Tsitsikamma CMAs, which will be working alongside the already existing Breede-Olifants and Inkomati-Usuthu CMAs.
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